Electric scooters are two or three-wheeled electric vehicles that use electricity as its power source. The profit delivered by electric scooters are fuel efficient, electricity-powered vehicles, which are also lightweight, compact, easy to handle, and easy to manoeuvre.
Environmental benefits of electric scooters over conventional gasoline-powered scooters are expected to drive their sales over the next few years. Moreover, the prices of electric scooters are reduced, and manufacturers are introducing a range of new stylish models in order to lure more customers. The lack of charging points in cities is a major defy factor for growth of the global electric scooter market. These electric scooters do not have any other alternative source in place of battery. A regular vehicle may take a few minutes to refuel the vehicle completely, while an electric scooter on an average takes more than a few hours to recharge the batteries for the same driving range.
Management of fuel and better fuel efficiency are leading factors improving the growth of electric scooters. Furthermore, in the case of a hybrid scooter, the presence of the internal combustion engine with the electrical system makes the hybrid scooter more cheap and easy to drive in conditions where traffic is more.
Electric kick scooters accounted for a significant share in 2017
In terms of product, electric kick scooters accounted for a significant share in 2017, owing to the growing use of Segway in the hotel and tourism industry. The recreational and tourism use of Segway is becoming a faith leading to its increased adoption.
Lithium 'ion battery segment is expected to account for the largest market share during 2018-2026
In terms of battery type, Lithium-ion battery-furnished electric scooters market share is expected to witness strong growth at over 12% from 2018 to 2026. The batteries are preferred due to low weight compared to lead acid alternatives.
48V segment hold a value share of over 17% in 2017 and is estimated to witness significant growth over the forecast period.
In terms of voltage, 48V segment hold a value share of over 17% in 2017 and is estimated to witness significant growth over the forecast period. The high voltage levels of batteries offer cost-effective chance for hybridization of vehicles. The demand for high voltage batteries is upgrading to reduce the carbon dioxide emissions by means of start-stop and recovery features.
Asia Pacific electric scooters market accounted for over 78% of the industry share in 2018
In terms of region, Asia Pacific electric scooters market accounted for over 78% of the industry share in 2018, owing to the regional growth in vehicle charging infrastructure expense and urbanization. North America is expected to emerge as a prominent region over the forecast period.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Gogoro Inc., Terra Motors Corporation, Mahindra GenZe, Vmoto Limited, Jiangsu Xinri Electric Vehicle Co. Ltd and BMW Motorrad International, Honda Motor Co. Ltd., Brammo, Inc., AllCell Technologies, LLC, Mahindra & Mahindra Ltd, Yamaha Motor Company Limited, Suzuki Motor Corporation, KTM AG, Peugeot Scooters, Green Energy Motors Corp,
Kymco lonex, Aima, Niu, and Yadea.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Global Electric Scooters market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Electric Scooters market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Electric Scooters market positioning of competitors.
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