Global Scooter Market
Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) — The “Global Scooter Market Size, Share & Trends Analysis, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The global scooter market is on a significant rise, with forecasts indicating a surge to USD 111.37 billion by 2030. This expansion reflects a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030. This comprehensive analysis report highlights critical market insights while exploring the continuous upswing across various scooter types, especially within the electrifying realms of the industry.
Interest in gearless, comfortable transit options has substantially fueled the scooter market’s growth. These vehicles, revered for their lightweight and user-friendly design, are becoming increasingly popular for their cost-effectiveness and low maintenance requirements.
The report delves into the remarkable rise of electric scooters, which are swiftly gaining traction in urban regions as consumer preferences shift towards sustainable and cost-efficient modes of transport. With local travel and sightseeing emerging as significant drivers for the rental electric scooter market, this segment anticipates even more robust growth trends.
Key Highlights from the Scooter Market Report:
Electric Scooter Segment to Register Highest Growth: Possessing a projected CAGR of 7.8% during the forecast period, the segment’s expansion is bolstered by favorable government initiatives and financial advantages like tax breaks and lower import duties.
Conventional Scooters Maintain a Stronghold: With a massive revenue share in 2022, the conventional electric scooter remains a preferred choice for consumers. Attributes such as durability, lightweight construction, and minimal costs have cemented their market dominance.
Asia Pacific Dominates the Market: Accounting for the majority market share, the Asia Pacific region continues to see high adoption rates for scooters, thanks to the growing appreciation for gearless driving systems and cost-efficiency over mopeds.
Despite the pandemic’s staggering impact on the scooter industry between 2019 and 2020, the market has rebounded with vigor. Post-pandemic recovery has heightened consumer inclination towards budget-friendly scooters, consequently propelling the scooter industry forward.
Competition among manufacturers in the Asia Pacific region has intensified, fostering strategic collaborations and investments. Notable market movements include a joint venture between leading industry players to bolster infrastructure for electric scooters, thus amplifying the sector’s prospects.
Insights gleaned from the report underscore the significant potential and dynamic evolution of the global scooter market. By tracing regional trends and product innovations, stakeholders gain a nuanced understanding of the industry’s trajectory over the coming years, ensuring informed decision-making and strategic positioning.
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Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
For more information about this report visit https://www.researchandmarkets.com/r/qwk0fm
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