Electric scooters Market Outlook
Electric scooters (E-Scooters) are expected to become more popular throughout the forecast time frame due to the rising need for fuel-efficient cars and growing concerns regarding carbon and greenhouse gas emissions. The world market for electric scooters was assessed at USD 40.37 billion for 2030. But from 2022 through 2030, the market is anticipated to increase at a CAGR of 7%. Electric scooters are plug-in vehicles that run on electricity or a mix of electricity and batteries. They have LED lights installed, which are energy-efficient and power the light. Electric scooters market are more often utilized than regular scooters because they are more eco-friendly and release fewer greenhouse emissions.
These scooters have additional benefits expected to help the electric scooter market grow, including eco-friendliness, agility, versatility, flexibility, and ease of manoeuvring in densely populated places.
Market Segmentation
The market is divided into sealed Li-ion, lead acid, and other battery types. Because of its advantages, including durability and affordability, sealed lead-acid batteries have been in use for the past few years. Nevertheless, some drawbacks that cause these batteries to deplete quickly with or without handling significant loads include overheating and bulkiness owing to charging.
Market segments include 36V, 48V, 24V, and greater than 48V, depending on voltage. The 48V and much more than 48V sectors gained the most significant share in 2017. It is predicted to continue growing at the same rate throughout the foreseeable future.
The market is divided into two categories depending on the type of e-scooter: standing/self-balancing, retro and foldable. L1e and L3e are the categories for the segments. While L3e contains two-wheel motorcycles, L1e includes light two-wheel powered vehicles.
Regional classification
The market is divided into four parts based on geography: North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific held the largest share of this market in 2017 because of the expansion of the infrastructure for car charging in developing nations like China and Taiwan. They are frequently thought of as the hub for producing these vehicles. At the same time, the Indian market for electric cars remains in its infancy, with fewer than 1% of all vehicle sales made up of electric vehicles.
Nevertheless, North America accounts for the most significant share during the forecast timeframe. The United States is a favoured adopter of these cars because of numerous vital manufacturers.
Industry news
The growing popularity of battery-powered two-wheelers results from the increasing use of rechargeable scooter-sharing services in nations including the US, Germany, France, and Spain. E-Scooters also make it possible for individuals to travel small distances swiftly and affordably, another element driving up demand for electric vehicles. The rise in the cost of petroleum is also anticipated to lead to market expansion.
Over the projection period, the industry for electric scooters is anticipated to expand more quickly due to rising fuel-efficient automotive demand and raising concerns over carbon and greenhouse gas emissions. Individuals are shifting toward time- and money-saving transportation to get from one place to another due to growing long-distance travel trends and increased traffic.
In addition, rising RD expenditures for improved battery technologies and expanding technological advancements in the e-scooter sector are the main drivers anticipated to generate attractive market expansion potential.
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