Skip to main content

Electric Scooters Market Insights and Forecast by 2031

 ESOMAR-certified consulting firm Future Market Insights’ (FMI) recent market survey forecasts sales of electric scooters to continue increasing between 2021 and 2031. As per the report, the market will reach US$ 8.8 Bn in 2021, leading to expansion at a healthy 9% CAGR.

Growing environmental concerns, coupled with demand for reduced costs of commute, easy commutation, and emission control are primary factors encouraging the adoption of electronic vehicles across the world. These factors also will enable the electric scooters sales to total US$ 8.8 Bn in 2021.

Growth forecasts remain positive for the market. While hindrances were likely amid COVID-19 induced restrictions, sales will recover at an impressive pace. FMI also forecasts the market to exhibit 5.5% year on year growth in 2021.

Increasing government-backed subsidies and rising concerns regarding decarbonization will spur demand for electric scooters in the upcoming years. Rapid urbanization, coupled with growing population across the globe is fueling sales of electric scooters.

Growth prospects remains positive for upcoming years, with leading manufacturers launching hybrid and technologically advanced models of electric scooters, catering to rising consumer demand. As per FMI, the top players in the market will account for 55% of sales in 2021.

Increasing efforts to curb carbon emissions and to reduce high congestion in roads in developing countries such as the U.S. and the U.K. are boosting adoption of three-wheeled electric scooters. Convenience, stability and easy mobility offered by electric scooters is augmenting adoption in university campuses and neighborhoods increasingly.

Additionally, in emerging economies, growing preference for two-wheeler and three-wheeled electric scooters is gaining immense traction. Easy accessibility, low-costs and increased navigational abilities offered by electric scooters will keep demand for electric scooters afloat in countries including China, India and Mexico.

“Rising concerns pertaining to carbon emission and rapid urbanization will spur demand for electric scooters through the assessment period. Government initiatives to encourage the adoption of electric vehicles across the globe will emerge as chief driving factor,” says an FMI analyst.

Key Takeaways from Electric Scooters Market Analysis

  • Lithium-ion batteries will dominate the battery type segment throughout the forecast period.
  • Maxi electric scooter sales will witness high demand, owing to features such as stability and durability.
  • Based on technology, battery-equipped electric scooters will account for maximum sales in the market.
  • The U.S is anticipated to experience increasing demand for three-wheeled electric scooters in the upcoming years.
  • Sales outlook in the U.K. appears to be positive with increasing adoption in tourist mobility.
  • India will provide lucrative opportunities for market expansion to global players, owing to government subsidies prompting adoption of electric scooters.
  • Japan and South Korea will collectively account for 8.7% of the market share.

Competitive Landscape

Alta Motors, Ather Energy, Bajaj Auto, BMW Motorrad International, Cezeta, Energica Motor Company, Evoke Motorcycles, Hero Eco, Johammer e-mobility GmbH, KTM AG, Mahindra GenZe, Ninebot Limited, Okinawa Autotech Pvt. Ltd., Piaggio & C. SpA, ReVolt Electric Motorbikes, Xiaomi, and Yamaha Motor Company Limited are among the top manufacturers of electric scooters, as profiled by FMI.

Top electric scooter manufactures are emphasizing research and development to incorporate technological advancements in electric scooters to establish themselves as prominent players in the market. Facility expansions and new vehicle launches will remain key strategies leveraged by manufacturers in the market. For instance:

  • In June 2021, Piaggio revealed technical specifications for its latest electric scooter known as ‘One’. The e-scooter will be launched in three variants, One, One+, and One Active, with a digital instrument panel and removable battery system.
  • In July 2021, Xiaomi launched new Ninebot C30 electric scooter in China for teenagers and young adults looking for affordable and light-weight vehicles for easy navigation in Chinese suburbs.

Electric scooters Market by Category

By Product Type:

  • Standard
  • Folding
  • Self-Balancing
  • Maxi
  • Three-Wheeled

By Battery Type:

  • Li-Ion
  • NiMH
  • Lead-Based

By Technology:

  • Plug-In
  • Battery

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

Key Points Covered in Electric Scooters Market Survey

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Electric Scooters Market and how to Navigate
  • Recommendation on Key Winning Strategies

For More Info@ https://www.futuremarketinsights.com/reports/electric-scooters-market

Contact Us

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedInTwitterBlogs

Comments

Popular posts from this blog

Sales of Commercial Aircraft Video Surveillance Systems to Decelerate in 2020 as COVID 19 Pandemic Takes its Toll on Global Market

  Market Introduction Future Market Insights, in its recent study on the  Commercial Aircraft Video Surveillance Systems market,  offers a detailed value-volume analysis of the Commercial Aircraft Video Surveillance Systems market on the basis of various segments such as product type, application, aircraft type, assembly and region. In terms of product type, cabin surveillance systems is projected to be a lucrative segment in terms of growth opportunities and are mostly being installed in the line fit assembly applications in the commercial aircraft video surveillance systems. To Get the Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5202 There has been significant growth in the number of freighter planes due to expanding e-commerce and pharmaceutical sectors and outperforming global trade growth. From a macroeconomic point of view, demand for commercial aircrafts is anticipated to more than double in the next two decade...

Automotive Battery Management System Market : Technological Growth Map over Time

  Automotive Battery Management System Market is estimated to reach US$ 15.3 Bn by the end of 2029 In the near future, electric vehicles will dominate the clean vehicle market, and necessitate demand for revolutionary battery management systems. Steadily growing demand for battery management systems in e-bikes as well as electric cars will squarely surge market growth. According to a new research report published by Future Market Insights (FMI), the  automotive battery management system market  is estimated to reach US$ 15.31 Bn by the end of 2029.  “In the foreseeable future, advancements in battery management systems will contribute towards extending vehicle range, while simultaneously improving battery life and safety. All major OEMs are ambitiously planning to boost electric vehicle production, which is projected to create significant opportunities for the global automotive battery management system market.” Key Takeaways of Automotive Battery Management Sys...

Medical Gloves Market Trends, Growth, Future Demand, Analysis and Forecast by 2032

 The medical gloves market has witnessed significant growth and evolution, especially in recent years, due to the global healthcare challenges, including the COVID-19 pandemic. Medical gloves are crucial protective equipment used by healthcare professionals to prevent the transmission of infections, maintain hygiene standards, and ensure the safety of both patients and medical personnel. This market encompasses a wide range of glove types, including latex, nitrile, vinyl, and others, each with its unique features and applications. One of the key drivers of the medical gloves market is the increasing focus on infection prevention and control in healthcare settings. The heightened awareness of the importance of hand hygiene, especially in the wake of the pandemic, has led to a surge in demand for medical gloves worldwide. Healthcare facilities, including hospitals, clinics, and laboratories, require a steady and reliable supply of gloves to maintain safety protocols an...