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
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