Press release
Electric Scooter Battery : The Secret Behind Its Incredible Performance
Electric scooters are two-wheeled platforms, primarily of three major types: kick scooter, self-balancing scooter, and mopeds. These scooters are driven by an electric powertrain, which is powered by a battery.
Rising awareness about cleaner mobility alternatives coupled with their economic benefits is fueling the demand for electric scooters and consequently propelling the electric scooter battery market
Key Drivers of Electric Scooter Battery Market
Rise in transport emissions is a major concern across the globe. According to the statistics by the International Energy Agency, emissions from transport continue to rise and constitute a significantly high share of the greenhouse gases emitted across the globe. Consequently, rising concerns about environment degradation is boosting the demand for vehicles propelled by alternate energy sources are and electric vehicles are the most popular among them. New models of electric scooters are being launched by automakers such as Peugeot, Ola, Honda, and Suzuki, and these electric scooters are witnessing high sales. For instance, Hero Motor Corp stated that the sale of their electric scooters increased five times in first half of 2021 as compared to previous year. This high sale of electric scooters is also supplemented by rising fuel prices. These factors are propelling the demand for electric scooter batteries from OEMs across the globe.
Expansion of the last-mile delivery sector is another major driver of the demand for electric scooter battery. Increase in number of cargo delivery trips is driving emissions levels. For instance, the European Union states that delivery trips account for almost 15% of all urban trips in countries across Europe, which results in high amount of fuel consumption and emissions. Hence, multiple last-mile delivery service providers have adopted electric scooters for their riders. For instance, eBikeGO, an India-based electric mobility company, is deploying electric scooters for last-mile logistics on a per delivery model and to individual consumers on monthly rental model. Furthermore, an increase in the number of deliveries performed on these electric scooters reduces the replacement time of their batteries, which in turn fuels the aftermarket segment. Hence, the adoption of green mobility solutions by last-mile delivery companies is driving the global electric scooter battery market.
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Challenges in Electric Scooter Battery Market
Current electric scooter battery chemistries have limited charge storage capacities, which reduce the range of these vehicles on single charge and also the charging infrastructure is underdeveloped. There have also been multiple incidents where the battery of electric scooters overheated and the vehicle caught fire. These technical limitations of EV batteries hinder their adoption and consequently, restrain the growth of electric scooter battery market.
Impact of COVID-19 Pandemic on Global Electric Scooter Battery Market
The COVID-19 pandemic hampered the global automotive industry along with other sectors. The electronic chip crisis caused after this pandemic is still undermining the recovery of the automotive sector. However, relief packages have been announced by governments to restore normalcy in industries and the sales of vehicles, especially electric vehicles are witnessing growth like never before. These factors are expected to propel the global electric scooter battery market during the forecast period.
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Asia Pacific to hold significant share of global electric scooter battery market
Asia Pacific accounted for a significant share of the global electric scooter battery market in 2020. Countries in this region such as China, India, Japan, and those in ASEAN are major markets for electric scooters, and a high number of electric scooter manufacturers are present in the region. Moreover, large battery manufacturers such as Panasonic Corporation, LG Chem, and SAMSUNG SDI CO., LTD. also have their presence in Asia Pacific, which contributes towards the high share held by the region in the global electric scooter battery market.
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