Electric Scooters Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Electric Scooters Market: Overview
The growth trajectory of electric scooters market has been dotted with exciting product launches in several parts of the world over the years. The growth has piggybacked on the wave of commercialization of electric vehicles, mainly by opening the market to private buyers. In developed as well emerging economies, notably in the U.K. and India, scooter manufacturers have forked out money to optimize design and battery power. Additionally, incorporation of novel features such as IoT and artificial intelligence (AI) has been the cynosure of attention for consumers in the electric scooters market. Advances in sensor and motor technologies have helped electric scooters rapidly gather steam in various markets, nudging regulators to think of these battery-operated two wheelers a thing no more a technological novelty.
Two key factors that account for the vast business proposition of the electric scooters market: their independence from fuel price fluctuations and the markedly reliable performance of lithium-ion battery packs in recent years.
Electric Scooters Market: Competitive Analysis and Key Developments
A wide assortment of futuristic features accounts for the allure for vehicle buyers. Electric vehicle manufacturers and several automakers have also made foray in the electric scooters market. They are launching electric vehicles at competitive price in electric vehicle markets that have shown incredible potential for electric and hybrid vehicles. A case in point is the announcement by BGAUSS that it is soon going two new electric vehicles in India by first week of August 2020. The company eyes sizable bankable opportunities in the electric two-wheeler segment in the country and vehicle buyers will see these electric scooters in five variants. A wide range of features will adorn these vehicles, announced the company.
The motivation behind such product launches is undoubtedly the large appetite of the country market toward heightened convenience and considerably advance their comfort, while giving them an eco-friendly option. Stridently, in coming years, what will differentiate winners from new entrants will not just be attractive price range, but more importantly the charging capacity of the battery used and the distance that it can power the vehicle.
Electric Scooters Market: Key Trends
The growing number of electric scooters manufacturing facilities that have cropped up in recent years is witness to the high growth potential in the electric scooters market. In developed countries, availability on shared model has offered a big impetus to the market’s growth. Shared e-scooter startups have been increasing their footprints in several cities of the U.S. and Europe, for instance. Rising use of electric scooters in such sharing schemes in scores of countries across the world has also fueled the prospects in the electric scooters market.
In recent years, scooter lifespan has been a critical issue for regulators to assess the claims of the remarkable environmental-friendliness trumpeted by stakeholders marketing electric scooters aggressively. This implies that unless there is sufficient evidence that making and moving of electric vehicles really cut down the carbon emissions, the claim of ‘green’ proposition may fall through. Extensive studies on travel habits and battery capacity may help shed light on environmental-friendliness of products in the electric scooters market. Another crucial issue that players in the electric scooters market have put their attention on is the safety of riders as well as pedestrians. Focus on addressing such concerns will be a key part in the growth of the electric scooters market.
Electric Scooters Market: Regional Analysis
On the regional front, developed regions of Europe and North America will be key to the projected growth trajectories of the electric scooters market. Asia Pacific will also be a key region, reason having to do with the growing support of governments in reducing the carbon footprint of the transportation sector.
Several cities in Europe and America have presented promising avenues to industry stakeholders in the electric scooters market due to large number of e-scooter share schemes. Countries such as U.K. and Colombia will offer significant momentum on the back of changing regulations. With the COVID-19 lockdown easing in these countries, the modernization of the transportation will gather pace.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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