Electric Scooters Market is estimated to reach US$ 37.44 Billion by 2028
Neha Singh
Marketing Manager at Renub Research || Corporate intelligence || Market Research Reports ||
Renub Research has recently published a report titled " Electric Scooters Market , Size, Forecast 2023-2028, Global Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis," providing a comprehensive analysis of the industry that includes market share insights. In addition, the report comprises competitor and regional research and contemporary extension in the Electric Scooters Market.
Electric Scooters Market will grow a CAGR of 13% from 2023-2028
The electric scooter industry has experienced remarkable growth and innovation in the modern world, revolutionizing urban transportation. Electric scooters offer a convenient, eco-friendly, and cost-effective solution for short-distance travel. With their compact size, ease of use, and zero emissions, electric scooters have gained popularity among commuters, students, and urban dwellers.
The increasing adoption of electric scooters is driven by rising environmental awareness, city congestion, and the need for alternative transportation options. Governments and regulatory bodies also recognize their potential benefits and implement supportive policies to encourage their usage. Ensuring rider safety through education, dedicated infrastructure, and implementing clear guidelines is crucial for the industry's sustainable growth.
Key players in the industry have introduced sleek and stylish designs equipped with powerful motors, long-lasting batteries, and smart connectivity features. This technological advancement allows riders to track their rides, monitor battery life, and lock/unlock their scooters via smartphone apps.
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As the electric scooter market continues to evolve, industry players are investing in research and development to enhance battery technology, improve range and performance, and address concerns related to sustainability. With ongoing advancements and increasing consumer demand, the electric scooter industry is poised for further expansion and widespread adoption in the years to come.
Despite advancements in battery technology, retro lead-acid batteries remain the preferred choice in specific applications
Despite significant advancements in battery technology, retro lead-acid batteries remain the preferred choice across numerous applications. Lead acid batteries have a proven track record of reliability, backed by a long history of successful utilization. Their affordability and widespread availability make them a cost-effective solution for various industries. Additionally, their sturdy construction and ability to deliver high current output make them well-suited for applications requiring sudden power surges. Although alternative battery technologies, such as lithium-ion, have emerged, the established performance, durability, and familiarity of retro lead acid batteries continue to make them famous. This is especially true in sectors where prioritizing cost-effectiveness and reliability is paramount.
Product - Electric Scooter Market breakup from 3 viewpoints
1.?? Retro
2.?? Standing/Self Balancing
3.?? Folding
In the dynamic landscape of the global electric scooter market, the lithium-ion polymer segment is poised for significant growth during the forecast period
Lithium-ion polymer batteries have gained traction as a preferred energy storage solution for electric scooters due to their numerous advantages, including higher energy density, lighter weight, and improved safety features. Lithium-ion polymer batteries offer a higher energy density than traditional lithium-ion batteries, enabling electric scooters to achieve more excellent range and longer battery life. Lithium-ion polymer batteries' lightweight and compact nature makes them an ideal choice for electric scooters. Safety is critical for electric scooter users, and lithium-ion polymer batteries excel in this aspect. Ongoing advancements in battery technology have contributed to the rapid growth of the lithium-ion polymer segment. These are key factors driving the development of the lithium-ion polymer segment and highlight its potential to revolutionize the electric scooter industry.
Battery Type - Electric Scooter Market breakup from 2 viewpoints
1. Lithium-ion (Li-Ion)
2.?? Lead Acid
With a commanding presence, 36V battery-powered vehicles have secured a dominant share in the electric scooter market
With their superior performance and optimal energy efficiency, 36V battery-powered vehicles have emerged as the frontrunners in the electric scooter market, holding a significant market share. The 36V battery system strikes a perfect balance, providing ample power for a robust performance while ensuring extended battery life and impressive range. Moreover, these vehicles benefit from the widespread availability and cost-effectiveness of the 36V battery packs, making them a preferred choice for manufacturers and consumers. As urban commuters increasingly seek reliable and practical transportation options, the dominance of 36V battery-powered vehicles in the electric scooter market continues to grow.
By Battery Voltage - Electric Scooter Market breakup from 4 viewpoints
1.??? 24V
2.??? 36V
3.??? 48V
4.??? Above 48V
Europe is poised to showcase the most substantial growth potential in the electric scooter market
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Europe is poised to showcase the most robust growth potential in the electric scooter market. The region's burgeoning demand for eco-friendly transportation and favorable government regulations promoting electric mobility sets the stage for rapid market expansion. European countries prioritize sustainability and strongly favor adopting clean transportation alternatives. With well-developed infrastructure, supportive charging networks, and a tech-savvy population, Europe provides an ideal environment for electric scooters to flourish. The rising consumer awareness regarding environmental concerns further fuels the growth potential. Europe emerges as a promising market, attracting significant investments and witnessing the accelerated adoption of electric scooters.
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Electric Scooter Market - Regions have been covered from 4 viewpoints
1.?? Asia Pacific
2. ??North America
3.?? Europe
4.??? Rest of World
Key Players
Energica Motor Company, Niu Technologies, Vmoto Limited, Yadea Group Holdings Ltd, and KTM Group are key players with a strong presence in the electric scooter market. Each of these companies brings unique expertise and innovation to the industry.
All companies have been covered from 3 viewpoints
??? Overview
??? Recent Development
??? Revenue
Company Analysis
1.?? Energica Motor Company
2.??? Niu Technologies
3.?? Vmoto Limited
4.?? Yadea Group Holdings Ltd
5.??? KTM Group
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