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Meticulous Research® Unveils Future Outlook: Electric Scooter Market Predicted to Surpass $408.1 Billion by 2031
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According to the findings presented in this report, the global electric scooter market is forecasted to reach a remarkable valuation of $408.1 billion by the year 2031, exhibiting a robust Compound Annual Growth Rate (CAGR) of 21.6% during the period 2024-2031. By volume, the market is anticipated to witness significant expansion, with an expected reach of 298.5 million units by 2031, showcasing an impressive CAGR of 18.1%.
The driving forces behind this extraordinary growth trajectory include the escalating localization of electric scooter manufacturing in emerging economies, the growing acceptance of electric two-wheelers among consumers compared to internal combustion engine (ICE) counterparts, and the increasing preference for electric-powered vehicles in developed nations. However, challenges such as consumer apprehension regarding technology adoption and the lack of investment by traditional two-wheeler manufacturers in electric scooter development pose constraints to market expansion.
Market Opportunities and Challenges:
Government initiatives aimed at alleviating traffic congestion and pollution present lucrative growth prospects for the electric scooter market. Nevertheless, the absence of charging infrastructure stands as a significant obstacle to market advancement.
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Segmentation Analysis:
Vehicle Type: E-Kick Scooter & Bikes segment is expected to dominate the market by value and volume in 2024, driven by rising environmental awareness, government policies, and investments from key stakeholders.
Power Output: The less than 3.6 kW segment is anticipated to hold the largest market share in 2024, primarily fueled by the increasing adoption of e-kick Scooter & bikes for urban commute and recreational activities.
Battery Technology: Lithium-ion battery segment is projected to lead the market in 2024, owing to its widespread use in electric and hybrid vehicles and the renewable energy industry.
Geographical Analysis: Asia-Pacific is poised to command the largest market share in 2024, attributed to rising incomes, fuel prices, traffic congestion, and pollution, coupled with government initiatives to promote electric vehicles.
Key Players:
Major players in the global electric scooter market include Fuji-Ta Bicycle Co., Ltd., Trek Bicycle Corporation, Yamaha Motor Co., Ltd., Yadea Group Holdings Ltd., Riese & Müller GmbH, Leon Cycles, Niu Technologies, Walberg Urban Electrics GmbH, myStromer AG, Magnum Bikes, Pedego Electric Bikes, Aventon Bikes, Govecs AG, Zhejiang Minimotors Bike Co Ltd, Zero Motorcycle Inc., Gogoro Inc., Ather Energy Pvt. Ltd, Energica Motor Company, Revolt Motors, Hero MotoCorp Ltd., and Rad Power Bikes Inc., among others.
This comprehensive report provides invaluable insights and analysis of industry competitors, regional dynamics, and market trends, empowering stakeholders to make informed decisions and capitalize on emerging opportunities in the electric scooter market.
TOP 10 COMPANIES IN ELECTRIC SCOOTER MARKET >> https://meticulousblog.org/top-10-companies-in-electric-scooter-market/
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Meticulous Market Research Pvt Ltd
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2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.
Phone: +9102066394988
About Us:
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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