Sustainable Transportation Solutions: Strategies for Success in the Electric Scooter Market | Vmoto Limited, and Yadea Group Holdings Ltd

Electric scooters are battery powered vehicles equipped with handlebars and a floorboard platform for the rider. They are widely used for short distance commuting and shared mobility services in urban areas due their easy maneuverability and lack of emission.

The market is expected to witness 8.10% CAGR during the forecast period (2020-2027).

Market Dynamics:

The global electric scooter market is expected to witness significant growth over the forecast period, owing to increasing adoption of shared electric scooters and growing consumer preference for alternative eco-friendly modes of transport for short commutes. Major players are focusing on expanding their shared e-scooter fleets across major cities to tap the demand from commuters preferring affordable short-distance transportation. Favorable government policies promoting shared mobility services and emissions reductions are also positively impacting the adoption of electric scooters. With continuous innovations to improve vehicle range and battery capacity, the market outlook for electric scooters remains positive.

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Major Driver for Electric Scooter Market: Increasing adoption of electric vehicles leads to rise in demand for electric scooters

The rising concerns over environment pollution and increasing fuel prices have encouraged consumers to opt for electric vehicles. Electric scooters provide a more cost-effective and environment friendly alternative to traditional petrol or diesel vehicles for short commute needs within cities. The growing preference for green mobility solutions is a key driver boosting the sales of electric scooters. According to several reports, the sales of electric two-wheelers including scooters are expected to rise significantly in the coming years. Many countries and local governments are also offering attractive purchase incentives and subsidies for electric vehicles to promote their adoption. This has further increased the affordability of electric scooters and appealing them to masses.

Key Company Profiles:

Amego Electric Vehicles Inc., Ampere Vehicles Pvt. Ltd, BMW Motorrad, ECCITY Motocycles, GenZe, Gogoro Inc., GOVECS GmbH, Hero Eco (Hero Electric), Honda Motor Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Kumpan Electric, Piaggio & C. SpA, Sanyang Motor Co. Ltd., Silence Urban Ecomobility, Terra Motors Corp., TORROT ELECTRIC EUROPA S.A, TVS Motor Company, Vmoto Limited, and Yadea Group Holdings Ltd.

Market segmentation:

Battery Type: Lead-based, Li-ion, and NiMH
Product Type: Folding, Maxi, Self-balancing, Standard, and Three-wheeled
Technology: Battery and Plug-in
Voltage Level: 24V, 36V, 48V, and Above 48V
Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Major Driver for Electric Scooter Market: Growing urbanization is fueling the demand for last mile connectivity

Rapid urbanization in developing nations has led to higher traffic congestion levels and longer commute times in cities.This has highlighted the need for alternative transportation solutions for last mile connectivity. Electric scooters have emerged as a convenient option for short distance daily commutes within urban areas. Their compact size allows for easier maneuverability in traffic compared to other vehicles. Moreover, electric scooters do not require fuel filling or production of exhaust fumes, which make them suitable for crowded cities. Several shared mobility providers are also focusing on electric scooter rental services to enable users flexible urban transportation option. The growing population in urban centers around the world represents a major growth driver for the electric scooter market.

Major Market Restrain for Electric Scooter Market: High initial costs limit mass adoption

While electric scooters offer long term savings on fuel and maintenance compared to petrol variants, their upfront costs tend to be significantly higher. The high price of lithium-ion batteries is a major factor influencing the overall costs of electric scooters. The costs of batteries have marginally reduced over the years due to technological advancements and mass production. However, they are still out of budget for many potential customers globally. Electric scooters also require installation of charging infrastructure which adds to their expenses. This high initial investment poses as a key restrain limiting their mass adoption currently. Many consumers in developing nations still prefer cheaper petrol scooters due to their higher costs. Thus, further reductions in battery prices would be crucial for the electric scooter industry to achieve wider penetration.

Major Market Opportunity for Electric Scooter Market: Integration of advanced technologies expands use cases

The electric scooter market represents significant opportunities for OEMs by integrating new-age connectivity and automation technologies. For instance, integrating e-scooters with IoT enables functions like remote monitoring of battery status, geofencing alerts, and over-the-air updates. This enhances their usability and convenience for users. Similarly, adding autonomous driving technologies could transform e-scooters into self-balancing personal transport robots. Such innovations are being explored for applications like delivery services to reduce last-mile delivery costs. Integration of advanced technologies also allows customized experience based on rider's profile. For example, monitoring health parameters of users and integrating fitness tracking. These emerging opportunities represent new revenue streams for manufacturers in the electric scooter market space.

Major Trend in the Electric Scooter Market: Increasing availability of sharing services boosts market potential

Sharing economy business models are gaining traction in the micro-mobility sector. Several e-scooter sharing startups have emerged globally that allow users to locate, unlock and pay for rides through smartphone applications. Users can pick up a scooter from any public place and parking it at their destination. Such shared fleets are proving quite popular for short commutes in dense urban areas. They provide users flexible mobility solutions at affordable pay-as-you-go pricing. Many city administrations also support shared e-scooters as they help reduce congestion and emissions. Leading companies are launching large-scale fleets across multiple cities. For instance, Bird and Lime have a presence in over 100 cities worldwide. Growing adoption of shared e-mobility services is a significant trend making the micromobility more accessible and scalable. This expands the scope of electric scooter industry significantly.

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Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1Definition and forecast parameters
1.2Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Electric Scooter Market , By Region

Chapter 5: Company Profiles

5.1 Overview of the Company

5.2 Economic components

5.3 Product Overview

5.4 Analysis of Strengths and Weaknesses

5.5 Methodical Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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