Report Description
A recent market intelligence report that is published by Data Insights Partner on the global Electric Scooters (E-Scooters) Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Electric Scooters (E-Scooters) Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Electric Scooters (E-Scooters) Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Electric Scooters (E-Scooters) Market is offered. In accordance with the report, the global Electric Scooters (E-Scooters) Market is projected to expand at a CAGR of 28.9 % over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
Electric Scooters or E-Scooters, are plug-in electric vehicles with two or three wheels using a small electric motor or utility internal combustion engine. It is similar to the conventional manual scooters, except it is propelled by a motor. The Lithium Ion Battery is used in E-scooters making it light-weight and having high power efficiency.
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There has been a rising demand for electric scooters with a rise in need for fuel – efficient vehicles. High performance, easy braking systems, and low maintenance costs are the key drivers for the growth of global electric scooters. Renting and sharing scooters is a trend amongst the young group of society, due to which many scooter renting companies are now procuring these products from manufacturers, thereby increasing the sales of Electric Scooters. Changing lifestyle, urbanization and high disposable incomes leads to higher demand of electric scooters globally. Government is encouraging vehicle manufacturers to manufacture zero-emission vehicles in order to reduce the carbon emission gap and thereby minimize air pollution. With proper infrastructure facilities and power availability, Electric Scooters are the preferred choice for consumers. The increase in inter-city and inter-state travelling, is also driving the market towards growth globally. Global E-Scooters are the preferred amongst majority of consumers due to their rising awareness of eco-friendly environment, growing transportation and declining of prices in raw materials making e-scooters an affordable choice.
Even though the demand of E-scooters is rising, there are many factors that restrain the growth of this market. Lack of service centers and battery failure are the top factors that hinder the growth of this market. Also, there is a major lack of public knowledge about this market, thereby declining their growth in the forecast period.
There is an increasing number of millennials in countries like China, India and Japan, who prefer vehicles that are convenient, lightweight and with less operating and maintenance cost. With the increasing number of population and to avoid the traffic on the roads, people have now opted to use two-wheelers rather than cars and other bulky vehicles. Due to this, the region of Asia Pacific dominated and is expected to dominate the global E-Scooters market in the forecast period. North America is also expected to witness the highest CAGR in this period. With the prices of Lithium-Ion battery expected to reduce in the future, the cost of electric scooters is also expected to decrease in the coming years, thereby creating growth opportunities for Electric Scooter Market in the forecast period.
Many manufacturers are focusing on research and development activities to enhance their product portfolios in order to expand their market share. Gogoro Company in Taiwan, has introduced swappable battery electric scooters and are affiliating with many other companies to integrate this technology in their electric scooters as well.
Several manufacturers are experiencing great difficulty in smooth operation of their production due to the sudden outbreak of Covid-19 globally. With the ongoing lockdown, many small players will be unable to survive this period. In the long run, however, the growth of E-Scooter market is mandatory to happen, as people are now seeing the difference in air quality and environment during the stay-at-home period and realizing the importance of using eco-friendly products. However, with all the showrooms closed and declining sales, manufacturers are going through extreme cash crunch situation. However, companies like Vmoto have their manufacturing plants fully operation despite the lockdown.
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Segment Covered:
This market intelligence report on the global Electric Scooters (E-Scooters) Market encompasses market segments based on product type, battery type, voltage, application, technology type and country/regions.
By product type, the global Electric Scooters (E-Scooters) Market is also classified into :
Standing / Self Balancing
Folding
Retro
Others
By battery type, the global Electric Scooters (E-Scooters) Market is also classified into :
Lithium – Ion (Li-on)
Nickel Metal Hydride (NiMH)
Sealed Lead Acid (SLA)
By voltage, the global Electric Scooters (E-Scooters) Market is also classified into :
24 V
36 V
48 V
60 V
72 V
By technology type, the global Electric Scooters (E-Scooters) Market is also classified into,
Plug – In
Batteries
By country/region, the global Electric Scooters (E-Scooters) Market has been divided into :
North America (the U.S., Canada),
Latin America (Brazil, Mexico, Argentina and other countries),
Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
Victory Motorcycle
Mahindra & Mahindra
Yo Bykes
Zero Motorcycles Inc.
Lightning Motorcycles Corp.
Energica Motor Company
Johammer E-Mobility
Evoke Motorcycles
Bajaj Auto Limited
Hero Electric
Yadea Group Holdings Ltd
Vmoto Limited
Ampere Vehicles Pvt. Ltd and many more
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Electric Scooters (E-Scooters) related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Electric Scooters (E-Scooters) Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Electric Scooters (E-Scooters) Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Mahindra & Mahindra, Zero Motorcycles, Yadea Group, Hero Limited and many more.
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Electric Scooters (E-Scooters) Market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Electric Scooters (E-Scooters) Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Electric Scooters (E-Scooters) Market
v Identification of key factors driving investment opportunities in the Electric Scooters (E-Scooters) Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants