Electric Scooter Market Trends and Growth 2023, Revenue Analysis, Demand, Competitive Strategies and Future Outlook to 2022-2032: SPER Market Research

According to SPER Market Research, Growing demand for fuel-efficient vehicles around the globe coupled with growing concern for an alarming augment in global pollution are some of the foremost aspects that propel the market growth of electric scooters over the forthcoming period. According to the report analysis, 'Electric Scooter Market Size- By Product, By Battery, By Voltage, By Technology Usage- Regional Outlook, Competitive Strategies and Segment Forecast to 2032' state that the global e-scooter is prophesied to reach USD 18.78 billion by 2032 with a CAGR of 8.03%.

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The growing implementation of electric motorcycles and e-bikes for short commutes, growing environmental concerns, and growing investments by ride-hailing companies in the micro-mobility space are the foremost aspects assisting the growth of the market. Growing efforts by OEMs to introduce lightweight bikes and the growing trend towards linked e-bikes deliver proficient growth opportunities for market players. The global electric scooter market is anticipated to be fostered by rising electric scooter-sharing services owing to their cost-effective urban conversion for end-user around all the underdeveloped and developed regions around the globe.

Snowballing acceptance of rechargeable scooter-sharing services across the adjoining regions likewise France, Germany, the US, and Spain, have inspired the prerequisite for battery-powered two-wheelers. Owing to the augment in the price of petroleum, the requirement for the market is predicted to rise.

The ever-growing traffic and growing trend of long travel are motivating customers to opt for time-efficient, cost-effective, and convenient modes of transportation to arrive at their destination, which in turn is predicted to boast the growth of the global market. Moreover, with the increment in micro-mobility, players in the industry have devised vehicle-sharing substitutes enabling individuals to circumvent buying their micro-mobility vehicles. Public transport vehicles including buses and taxis cause greenhouse gas emissions. Since individuals are moving towards the implementation of rechargeable vehicles, the requirement for the market is predicted to rise over the review duration.
In addition, rising anxieties over the conservation of the environment stimulate commuters to opt for individual transportation choices likewise motor vehicles and cards over public transport vehicles. Hence, the leaning toward eco-friendly modes of transport is fostering the electric scooter industry. Furthermore, e-scooters have high mechanical proficiency and demand low maintenance over their conventional counterparts, hence they are attaining traction around the market. The enclosure of e-scooter fleets in common mobility and vehicle-renting ecosystems is nurturing the prerequisite for industry growth.

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The speedy urbanization along with growing populace density specifically in underdeveloped nations underwrite prevalently for the proficient increase in requirement for electric scooters in such regions. In addition, it is an economical and environment-friendly mode of commutation that again fosters market growth throughout the review time frame.

North America is predicted to rise at a great CAGR throughout the predicted duration. Growing government and private market players' initiatives to enlarge regional electric two-wheeler charging station network. Moreover, promoting research & development activities directed toward the advancement of high-density batteries is projected to foster regional market growth during the forthcoming period.

Electric Scooter Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; BMW Motorrad International, Gogoro Inc., Hero Electric, Jiangsu Xinri E-vehicle Co. Ltd., Mahindra GenZe, Terra Motors Corporation, Vmoto Limited, Yadea Technology Group Co.,Ltd.

Global E-Scooter Market Segmentation:
By Product: Based on the Type, Global E-Scooter Market is segmented as; Retro, Standing/Self balancing, Folding.

By Battery: Based on the Battery, Global E-Scooter Market is segmented as; Sealed Lead Acid, NiMH, Li-Ion.

By Voltage: Based on the Voltage, Global E-Scooter Market is segmented as; 24V, 36V, 48V, Greater than 48V.

By Technology Usage: Based on Technology, Global E-Scooter Market is segmented as; Private, Commercial.

By Region: The E-Scooter market report covers Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States. The electric scooter market in these region is being driven by consumers' growing awareness of the need to use clean energy transportation to reduce vehicular emissions, rapid urbanisation, and the increasing affordability of e-scooters. Furthermore, the role of governments in several economies, including China, India, and Japan, in establishing standards and regulations for vehicle charging infrastructure is expected to have a positive impact on regional electric scooter growth.

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