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Portable Mobility Scooters Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Portable Mobility Scooters Market Share
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According to The Business Research Company's, The portable mobility scooters market size has grown rapidly in recent years. It will grow from $4.55 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to increasing elderly demographics, increasing disability rates, increasing healthcare awareness, increasing distribution channels and increasing availability of customizable scooters.
The portable mobility scooters market size is expected to see rapid growth in the next few years. It will grow to $8.22 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to government and private insurance programs. expanding product portfolios, emphasis on inclusive design, growth in e-commerce, and expansion of rental services. Major trends in the forecast period include development of intuitive control systems, voice recognition technology, augmented reality (ar) enhancements, social media connectivity, and collision detection systems.
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Market Drivers and Trends:
The rising pollution levels are expected to propel the growth of the portable mobility scooter market going forward. Pollution levels refer to the concentration of various environmental pollutants, typically measured in air, water, or soil. Rising pollution levels are due to industrial activities, urbanization, increased vehicle emissions, deforestation, and harmful chemicals in agriculture and manufacturing. Portable mobility scooters help reduce pollution by providing an eco-friendly transportation option that emits little to no emissions, thereby decreasing reliance on cars and lowering overall vehicle congestion and air pollution. For instance, in June 2024, according to the Environmental Protection Agency, a US-based agency that protects human health and the environment, transportation was responsible for the largest share of total U.S. greenhouse gas emissions, accounting for 28% in 2022, with cars, trucks, commercial aircraft, and railroads among the various sources contributing to emissions in the transportation end-use sector. Therefore, the rising pollution levels are driving the growth of the portable mobility scooter market.
Major companies operating in the portable mobility scooter market are developing compact motorcycles to expand their product offerings and cater to a broader range of customers. Compact motorcycles are portable, lightweight personal mobility devices designed for urban commuting, featuring a foldable design for easy storage and convenience. For instance, in September 2023, Honda Motors Co. Ltd., a Japan-based automobile company, launched the Moto Compacto, a foldable electric scooter designed for customizable and fun urban mobility solutions. It features a 490-watt electric motor, a top speed of around 15 mph, and a range of up to 12 miles. It is also designed to be highly customizable, with Honda offering a range of accessories and parts for personalization, and it is intended to complement Honda's upcoming electric vehicles, such as the Prologue and Acura ZDX, providing a last-mile transportation solution.
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Major Key Players of the Market:
Invacare Corporation, Sunrise Medical LLC, Drive DeVilbiss Healthcare Inc., Pride Mobility Products Corporation, Medserv Equipment Corporation, Hoveround Corporation, Roma Medical Ltd., Merits Health Products Inc., TGA Mobility Ltd., Golden Technologies Inc., Zip'r Mobility LLC, Van Os Medical B.V., Luggie Scooters LLC, Afikim Electric Vehicles Ltd., HeartWay USA Inc., Di Blasi Industries Inc., eFOLDi Ltd., Marc's Mobility LLC, SupaScoota International Pty Ltd., Tzora Active Systems Ltd
Portable Mobility Scooters Market 2024 Key Insights:
• The portable mobility scooters market size is expected to see rapid growth in the next few years. It will grow to $8.22 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.
• Rising Pollution Levels Is Driving The Growth Of The Portable Mobility Scooters Market
• Innovative Products in the Foldable Electric Scooter Market
• North America was the largest region in the portable mobility scooters market in 2023
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