Major market participants for electric scooters include KTM AG, Honda Motors Corporation, Ather Energy, GOVECS, Mahindra GenZe, AllCell Technologies LLC, Niu International, Gogoro Inc., etc.
SELBYVILLE, Del., March 6, 2024 (Globe Newswire) —
According to a report, the market valuation of electric scooters is expected to exceed USD 39.8 billion by 2032. Research by Global Market Insights Inc.
As consumers increasingly adopt sustainable transportation methods, the market is seeing a significant surge in demand. Interest in environmental conservation is increasing among the public. With increasing awareness of the negative impact carbon emissions have on the environment, people are actively seeking greener transportation options.
In August 2023, TVS Motor Company unveiled its premium electric two-wheeler named TVS X at a grand launch event held in Dubai on August 23.
Electric scooters are becoming increasingly popular among young and conscious consumers because they emit no greenhouse gases and offer a sustainable solution that significantly reduces air pollution levels in urban areas. Additionally, rising fuel costs and the need for cost-effective commuting options are further driving the adoption of electric scooters and generating revenue for the industry.
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The proliferation of ride-sharing and rental services is driving the adoption of electric scooters, especially in urban areas where congestion and parking restrictions are prevalent. As regulations and infrastructure continue to evolve to accommodate electric vehicles, the market is poised to continue expanding.
The electric scooter market in lead-acid battery sector is expected to witness significant demand till 2032 due to cost-effectiveness, established technology, and suitable performance for short-distance urban commuting. Although they do not have the same energy density or longevity 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 the appeal of electric scooters, making lead-acid batteries the preferred option for electric scooters, especially in price-sensitive regions where lithium-ion batteries have limited adoption. It becomes.
The commercial end user segment is projected to generate huge revenue in the market by 2032 due to increasing adoption of shared mobility services and delivery applications. Companies are leveraging electric scooters to provide last-mile delivery solutions, reducing delivery times and improving efficiency in urban logistics. Additionally, the convenience and flexibility that electric scooters offer make them an ideal choice for shared mobility providers to meet the evolving transportation needs of urban commuters.
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The European electric scooter market size is expected to expand significantly by 2032, characterized by favorable government initiatives and a regulatory framework promoting sustainable transportation solutions. European countries are actively encouraging the adoption of electric vehicles, offering incentives such as subsidies, tax breaks and infrastructure development to accelerate the transition to electric mobility. As a result, demand for electric scooters is surging in Europe, with consumers increasingly adopting these eco-friendly alternatives for their daily commuting needs.
Prominent players in the electric scooter market are KTM AG, Honda Motors Ltd., Ather Energy, GOVECS, Mahindra GenZe, AllCell Technologies LLC, Niu International, Gogoro Inc., etc.
Partial chapters of the report’s Table of Contents (TOC):
Chapter 1 Methodology and Scope
1.1 Market scope and definition
1.2 Basic estimation and calculations
1.3 Calculating predictions
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Official sources
Chapter 2 Summary
2.1 360 degree overview of the industry, 2018-2032
Chapter 3 Electric Scooter Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier status
3.2.1 Component suppliers
3.2.2 Manufacturer
3.2.3 Distribution channels
3.2.4 End User
3.3 Profitability analysis
3.4 Technology and Innovation Outlook
3.5 Patent analysis
3.6 Major news and initiatives
3.7 Regulatory status
3.8 Impact force
3.8.1 Drivers of growth
3.8.1.1 Progress of urbanization
3.8.1.2 Increase in fuel prices
3.8.1.3 Changes in consumer preferences
3.8.1.4 Increasing environmental concerns.
3.8.2 Pitfalls and challenges of the electric scooter market
3.8.2.1 Infrastructure Limitations
3.8.2.2 Regulatory issues
3.9 Analysis of growth potential
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 competition
3.11 PESTEL analysis
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