The global Electric Scooters Market is anticipated to reach USD 28.56 billion by 2025 at a 7.3% CAGR in the forecast period. The market for electric scooter is gaining a positive traction, since it is in the trajectory phase due to fall in prices and rise in demand. The wave of connected devices and vehicles will continue to leverage the automotive industry as well. Environmental concerns and government policies are playing a vital role in shaping the local as well as the international market.
The driving factors for the electric scooter market include rise in air and sound pollution by vehicles coupled with government approach toward environmental awareness in various countries. Reduced dependency on fossil fuels and inclination toward renewable sources of energy are likely to propel the market growth during the forecast period. Government subsidies and aftermarket OEM are likely to enhance the brand awareness. However, technical loopholes such as battery failure and high maintenance costs are likely to affect the market during the forecast period.
Product segmentation for electric scooter industry include scooters & motorcycles. Segmentation by battery for electric scooters market includes Li-ion, NiMH and SLA. By Voltage, the segmentation for electric scooters industry include 24V, 36V, and 48V.
Geographical segmentation for electric scooter market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions such as China, Taiwan, Korea, and Japan are likely to gain a significant market share in the forecast period. Environmental awareness and eco-friendly products led by the auto industry adds to the CAGR.
European regions are likely to gain a higher share in the electric scooters industry due to inclination of auto industry toward eco-friendly vehicles. Consumer awareness is another aspect for the market growth. North America is expected to follow the same trend with the only addition of stringent norms and regulations by the government to curb environmental pollution.
The key players in the electric scooter industry include Aima Technology Co Ltd, Amper Vehicles, Dongguan Tailing Electric Vehicle Co Ltd, Sunra Group, Vmoto Limited, Hero Electric, Mahindra Geneze, Energica Motor Company S.p.A., BMW, Yadea Technology Group Co Ltd and Zhejiang Luyuan Electric Vehicle Co Ltd.
Product Outlook (Revenue, USD Million, 2015 - 2025)
Battery Outlook (Revenue & Volume, 2015 - 2025)
• Sealed lead acid
Voltage Outlook (Revenue, USD Million, 2015 - 2025)
Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Latin America
Research Support Specialist, USA