How is the Boom in Global Scooter Sharing Market Favorable for Environment?

Due to the rising road congestion in cities and towns, rapid technological advancements, greater convenience, and increasing concerns over the emission of greenhouse gases and the resultant shift toward eco-friendly modes of travel, the global scooter sharing market is expected to witness significant growth during the forecast period (2019-2025). The market is predicted to advance at a 24.4% CAGR during the forecast period and attain $553.0 million in revenue by 2025, a considerable increase from its recorded value of $99.8 million in 2018.

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The increasing congestion onroads, especially in urban areas, is the biggest factor fueling the growth of the scooter sharing market. The rapid rise in the world population and the consequent surge in the number of daily commuters have resulted in the overcrowding of cityand town streets. To tackle this problem, the governments of several countries are encouraging the use of scooter sharing, for commuting. Owing to their compact size, scooters require lesser road and parking spaces, as compared to other vehicles, thereby reducing the traffic congestion.

Globally, Europe recorded the largest share in the scooter sharing market, in terms of revenue, in 2018. The main factor that contributed toward the region's market hold was the early adoption of scooter sharing services here. The concept has been thriving in Europe since 2016, and it was observedthat in 2018, more than 60 cities in the region had such schemes. The fastest growth in the market is expected to be witnessed in Asia-Pacific (APAC), mainly due to the large-scale deployment of these services in India.

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The scooter sharing market is currently at the growing phase, and it consists of several major players, such as Weimo Technology Co. Ltd. (WeMo), Cooltra Motosharing S.L.U. (eCooltra), Cityscoot SAS (Cityscoot), and COUP Mobility GmbH (COUP). The other prominent players operating in the market are Felyx Sharing B.V., Sharing Muving S.L.U. (Muving), Electric Mobility Concepts GmbH (emmy),MiMoto Smart Mobility Srl, Vogo Automotive Pvt. Ltd. (Vogo), YUGO Urban Mobility SL (YEGO), Wicked Ride Adventure Services Pvt. Ltd. (Bounce), Econduce SAPI de CV, and Scoot Rides Inc. (Scoot).

Therefore, due to the increasing demand for scooter sharing services, primarily for reducing the rate of environmental degradation, the market is set to experience robust growth in the coming years.

Scooter Sharing Market Segmentation

Market Segmentation by Trip

One-way
Round
Market Segmentation by Region

North America - U.S. and Canada
Europe - Italy, Germany, Netherlands, Spain, France, Austria, Portugal, Poland, Belgium, Switzerland, and Rest of Europe
APAC - China, India, Taiwan, and Rest of APAC
LAMEA - Mexico, Brazil, and Rest of LAMEA

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This release was published on openPR.