Global Electric Scooters Market to Grow at 3.9% CAGR through 2027

A new study “Electric Scooters Market- Global Industry Analysis and Opportunity Assessment 2017 – 2027” added to the repository of Market Research Reports Search Engine (MRRSE) recently reveals that the global market for electric scooter is currently valued at around US$ 8,000 Mn. In terms of revenue, the market is projected to increase at a CARG of 3.9% during the forecast (2017-2027).

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Factors such as subsidies and attractive incentives given by authorities is likely to reflect favorably on the sale of electric scooters across the globe. Moreover, demand for two-wheelers including electric scooter has also increased owing to increasing purchasing power of consumers. There is a growing urgency to control and reduce the rising levels of carbon emission, hence governments in various countries are enforcing laws on use of conventional scoters that run on fossil fuel. At the same time, governments are also promoting the use of electric and hybrid scooters that have very minimum impact on the environment. In a bid to check the excessive emission levels in major cities of China, the government is offering subsidies to new owners of hybrid scooters or electric scooters. In some of the major Chinese cities such as Shanghai and Beijing, authorities are offering registration plates to buyers of electric scooter with any charges. Similarly, the federal government in the U.S. has allotted grants of close to US$ 2.4 Bn for the development of high density batteries and electric and hybrid vehicles. Also, the U.S. administration has also sanctioned incentives to owner of electric vehicles and scooters.

Advancement in Charging Facilities Likely to Boost the Global Sales of Electric Scooter

The global sales of electric scooter are likely to be boosted by advancement in charging facilities and making them more efficient and frequent. Electric scooters made for around 2% of the overall number of vehicles sold globally in the year 2015. This is primarily owing the greater flexibility and easy availability of fuel for conventional vehicles. As compared to a conventional vehicle, an electronic scooter or vehicle take much more time to refuel or recharge its batteries. This extensive charging time can be reduced by the infusing direct current in the batteries. Moreover, the number of charging stations for electric vehicle is significantly less in the current scenarios and development of more stations with charging output is of utmost importance.

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Global Market for Electric Scooters Attractiveness Index based on Product Type

On the basis of product type, the standard segment is likely to retain its top position in 2017 and beyond. This segment currently account for close to two-third market share in terms of value and is expected to surpass valuation of US$ 5,000 Mn by the end of 2017. In addition, the segment is projected to surge at 4.3% CAGR during the assessment period. Meanwhile, the maxi segment is expected to account for nearly 15.3% value share of the market for electric scooter and surpass a valuation of 1,200 Mn by the end of 2017. Between 2017 and 2027, the segment is projected to soar at 3% CAGR. However, the self-balancing segment is expected to continue to exhibit sluggish growth through 2027.

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This release was published on openPR.