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Scooter Market Key Vendors, Key Segment, Key Companies, Growth Opportunities by 2022-2030

09-19-2022 02:03 PM CET | Tourism, Cars, Traffic

Press release from: We Market Research

Scooter Market

Scooter Market

The global scooter market is presently worth USD 70.26 billion and is poised to amplify with a CAGR of 5.9% over 2022-2030, thereby amassing USD 111.37 billion by end of the assessment timeline.

Global Scooter Market There is a significant demand for transportation due to the emerging economies' fast urbanisation and bettering road connectivity. Remote places' lack of access to public transportation pushes people to own personal autos. Scooters are frequently chosen by consumers because they are light, simple to drive and operate, and affordable. Electric scooters that run on batteries don't need fuel and don't produce any emissions, which is helping the scooter market.

Consumer preference has changed as a result of expanding regulatory standards, a ban on internal combustion engine (ICE) vehicles, a reduced import duty on electric vehicles, and enhanced battery charging infrastructure. They are switching from traditional scooters to electric ones. Electric scooters can be utilised for short-distance commuting and local tourism because they are lightweight, simple to use, and battery-powered. Additionally, the demand for electric scooters is increased by their great mechanical efficiency, low noise level, low total cost of ownership, and low maintenance requirements. In wealthy nations, the use of electric scooters for sharing services is also on the rise, which is predicted to support the market's expansion.

A country's road connection has a significant impact on its economic development. Road construction is being funded by the governments of developing countries. The transportation and logistics industry now has fresh development potential because to investments in road construction. By starting their own companies or collaborating with already-existing firms, many businesspeople have begun to enter the logistics field. Scooters are one of the favoured vehicles since they can transport items with the least amount of time and expense. Compared to bikes, mopeds, and vehicles, scooters can get away from the traffic and consume less gasoline.

Manufacturers of scooters are also concentrating heavily on adding new technology into the vehicles to boost their speed, improve battery efficiency, and make them more affordable for consumers. Additionally, a variety of scooters have been released in emerging economies by electric scooter producers. For instance, the Silence 01 and 02 models, made by a Spanish business called Silence, have been released in South Africa. They include fast charging capabilities, weight carrying capability, and detachable batteries. Therefore, it is anticipated that the automakers' initiatives will open up new markets for scooters.

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Global Scooter Market- Key trends

Various advantages offered by scooters to aid market expansion

Scooters are one of the most cost effective and efficient mode of transportation. They are not only lightweight but are easy to ride and operate. Due to their light weightiness, they involve less chances of mishaps. This in turn is increasing the adoption of scooters among individuals from diverse age group and economic background.
Global Scooter Market- Segmental assessment

By Product
• Electric Scooter
• Normal Scooter

The electric scooter segment is poised to amass notable gains over the stipulated timeline owing to its energy efficient nature.
By Type
• Conventional Electric Scooter
• Swappable Electric Scooter
The swappable electric scooter segment is anticipated to generate significant returns over the estimated timeframe ascribing to the growing emphasis of manufacturers to develop battery swapping technologies. Swappable scooters enable owners to replace depleted batteries with charged ones.

Global Scooter Market- Competitive hierarchy
The prominent players characterizing the competitive terrain of this marketplace are Yadea Technology Group Co., Ltd., Ninebot Limited, Neutron Holdings, Inc. (Lime), Bird Rides, Inc., Spin, Gotrax, Segway Inc., Razor USA LLC, Uber Technologies Inc. (Jump), and OKAI.

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Major questions answered in this report:
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About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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