TMCnet News
Global Electric Scooter Market 2024-2031: 3.6 kW to 7.2 kW Segment is Projected to Exhibit the Highest Growth RateDUBLIN, March 14, 2024 /PRNewswire/ -- The "Global Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Kick scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user, and Geography - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.  The global electric Scooter market is projected to reach $408.1 billion by 2031, at a CAGR of 21.6% from 2024-2031. By volume, this market is expected to reach 298.5 million units by 2031 at a CAGR of 18.1% during the forecast period 2024 to 2031. The growth of the global electric scooters market is driven by the increasing localization of electric scooter manufacturing in emerging economies, the increasing consumer acceptance of electric two-wheelers compared to ICE two-wheelers, and the rising inclination of developed economies toward electric-powered two-wheelers. However, the growing reliability issues among consumers due to increasing incidents of accidents involving electric two-wheelers and inadequate investment by legacy two-wheeler manufacturers toward electric scooters restrain the growth of this market. The rise in government initiatives to mitigate traffic congestion and pollution is expected to generate market growth opportunities. However, the lack of charging infrastructure poses a major challenge for the market's growth. The market in North America is projected to register the highest growth rate during the forecast period. The growth of this regional market can be attributed to rapid urbanization, increasing environmental consciousness, and the need for flexible and sustainable transportation options. Cities across the U.S. and Canada have embraced electric scooters as a viable solution to address the challenges of traffic congestion and the last-mile commute. The electric motorcycles segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to increasing government policies aimed at promoting electric mobility, growing awareness regarding the need to reduce greenhouse gas emissions and environmental pollution, rising demand for electric motorcycles among consumers, increasing gasoline prices, and stringent emission norms. The 3.6 kW to 7.2 kW segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of electric scooters in emerging economies, favorable incentives and tax benefits, and increasing initiatives by key players in the electric two-wheeler segment. The lithium-ion polymer battery segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising adoption of lithium-ion polymer batteries due to their superior performace. These batteries provide a higher power-to-weight ratio, faster charging capabilities, and increased cycle life compared to traditional lithium-ion batteries, contributing to enhanced efficiency and range for electric two-wheelers. The hub motors segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to government initiatives aimed at promoting the adoption of electric vehicles and the growing adoption of electric two-wheelers. The business organizations segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to government initiatives aimed at promoting EV adoption and reducing road congestion. Key Questions Answered in the Report:
Market Insights
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments) Key Market Players of The Global Electric Scooter Market
Other Market Players
Competition Analysis
Scope: Global Electric Scooters Market - by Vehicle Type
Global Electric Scooters Market - by Power Output
Global Electric Scooters Market - by Battery Technology
Global Electric Scooters Market - by Motor Type
Global Electric Scooters Market - by Charging Type
Global Electric Scooters Market - by End User
Global Electric Scooters Market Assessment - by Geography
For more information about this report visit https://www.researchandmarkets.com/r/866ys8 About ResearchAndMarkets.com Media Contact: Research and Markets Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets 
|
View original content: