Major electric scooters market participants include KTM AG, Honda Motors Co. Ltd., Ather Energy, GOVECS, Mahindra GenZe, AllCell Technologies LLC, Niu International, and Gogoro Inc., among others.
Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) —
The electric scooters market valuation is projected to cross USD 39.8 billion by 2032, as reported in a research study by Global Market Insights Inc.
The market is witnessing a significant surge in demand as consumers increasingly embrace sustainable modes of transportation. There is increasing emphasis on environmental conservation among the population. With growing awareness about the adverse effects of carbon emissions on the environment, individuals are actively seeking greener transportation options.
In August 2023, TVS Motor Company introduced its premier electric two-wheeler, named TVS X, during a grand unveiling event held in Dubai on August 23rd.
As electric scooters offer a sustainable solution, emitting zero greenhouse gases and significantly reducing air pollution levels in urban areas, they are gaining popularity among the younger & more conscious consumers. Additionally, rising fuel costs and the need for cost-effective commuting alternatives are further propelling the adoption of electric scooters, generating industry revenues.
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The proliferation of ride-sharing and rental services has boosted the adoption of electric scooters, particularly in urban areas where congestion and parking limitations are prevalent. As regulations and infrastructure continue to evolve to accommodate electric vehicles, the market is poised for continued expansion.
The electric scooters market from the lead acid battery segment is expected to witness substantial demand through 2032, led by their cost-effectiveness, established technology, and adequate performance for short-range urban commuting. Despite not offering the same energy density or lifespan as lithium-ion batteries, lead-acid batteries remain an attractive option for manufacturers due to their affordability, reliability, and robustness. Additionally, safety, durability, and compliance with environmental regulations further contribute to their appeal, making lead-acid batteries a preferred choice for electric scooters, especially in price-sensitive regions with limited lithium-ion battery adoption.
The commercial end user segment is predicted to generate massive revenues in the market by 2032, driven by the increasing adoption of shared mobility services and delivery applications. Businesses are leveraging electric scooters to offer last-mile delivery solutions, reducing delivery times and improving efficiency in urban logistics. Moreover, the convenience and flexibility offered by electric scooters make them an ideal choice for shared mobility providers, catering to the evolving transportation needs of urban commuters.
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Europe electric scooters market size will expand significantly till 2032, characterized by favorable government initiatives and regulatory frameworks promoting sustainable transportation solutions. Countries across Europe are actively encouraging the adoption of electric vehicles, offering incentives such as subsidies, tax benefits, and infrastructure development to accelerate the transition towards electric mobility. As a result, the demand for electric scooters in Europe is soaring, with consumers increasingly embracing these eco-friendly alternatives for their daily commuting needs.
The prominent players in the electric scooters market are KTM AG, Honda Motors Co. Ltd., Ather Energy, GOVECS, Mahindra GenZe, AllCell Technologies LLC, Niu International, and Gogoro Inc., among others.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360-degree synopsis, 2018-2032
Chapter 3 Electric Scooters Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Component suppliers
3.2.2 Manufacturer
3.2.3 Distribution channel
3.2.4 End user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing urbanization
3.8.1.2 Rising fuel prices
3.8.1.3 Changing consumer preferences
3.8.1.4 Increased environmental concerns.
3.8.2 Electric Scooters Market pitfalls & challenges
3.8.2.1 Infrastructure limitations
3.8.2.2 Regulatory challenges
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.10.5 Industry rivalry
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology
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