Electric Scooter and Battery Market:
The Electric Scooter and Battery Market is experiencing exponential growth, driven by rising urbanization and demand for eco-friendly transport. Advancements in battery technology, particularly lithium-ion and solid-state batteries, are enhancing scooter range and performance. Yet, issues like battery recycling, infrastructure development, and Electric Scooter and Battery Market saturation pose significant challenges for sustained growth.
According to the analysis performed by Market Research Future Reports (MRFR), the global electric scooter and battery market is estimated to record a CAGR of 15.53% during the forecast period.
The increase in demand for electric scooters and the initiatives taken by the established players and the growing demand for electric scooters among the tourist is the most significant factor driving the Global electric scooter and battery market 2024.
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Key Companies in the Electric Scooter and Battery market include
Wuxi YADEA Export-Import Co. LTD. (China)
BMW AG (Germany)
Honda Motor Co. Ltd. (Japan)
Mahindra & Mahindra Ltd (India)
Terra Motors Corporation (Japan)
Yamaha Motor Co. Ltd. (US)
BOXX Corp. (US)
Gogoro Inc. (Taiwan)
Greenwit Technologies (Canada)
Vmoto Limited (Australia)
GOVECS AG (Germany)
TAIZHOU UGBEST EV CO., LTD (China)
PIAGGIO & C.SPA (Italy)
ZNEN MOTOR (China)
Market Synopsis
The growing concern regarding the environment is estimated to play a significant role in expanding the market. Besides, the rise in fuel cost and the maintenance of fuel-powered vehicles are expected to drive the market additionally. In addition, the development of battery technologies is another factor which will lead to the growth of the market.
However, the underdeveloped charging infrastructure and the poor aftermarket services are further likely to impede the market. Furthermore, the outbreak of COVID-19 is estimated to make a significant impact on production and supply cycle. The aftermath of COVID-19 has been thoroughly analyzed by the data experts at MRFR. We will provide a report on the impact analysis of COVID-19 on the global electric scooter and battery market.
Market Segmentation
The global electric scooter and battery market can be classified on the basis of product, voltage, type, travel range, and region.
Based on product, the global electric scooter and battery market can be segmented into self-balancing, retro, and folding.
Based on voltage, the global electric scooter and battery market can be segmented into 24V, 36V, 48V, and more than 48V.
Based on type, the global electric scooter and battery market can be segmented into battery-based and plug-in.
Based on travel range, the global electric scooter and battery market can be segmented into up to 20 km, 20 km–40 km, and more than 40 km
Based on region, the global electric scooter and battery market can be segmented into Asia-Pacific, Europe, North America, and the Rest of the World (RoW).
Regional Analysis
The regional analysis of Asia-Pacific, Europe, North America, and the Rest of the World (RoW) has been analyzed. As per the analysis, the global market is estimated to expand significantly during the review period.
According to the study, the global market is likely to be dominated by Asia-Pacific. The number of electric scooter rental stores and kiosks has been rising, which is directly leading to regional market growth. The Europe market is estimated to grow significantly during the forecast period.
Europe held the second-largest market in 2023. Besides, the initiatives taken by the government is likely to augment the market in the region. Moreover, the demand for electric vehicles is likely to increase during the review period.
On the other hand, North America is likely to experience a significant demand during the review period. Besides, the demand for the initiatives taken by the government is likely to actuate the market. The RoW is likely to expand during the forecast period due to the new entries in the market, along with technological advancement.
Industry News:
Wuxi YADEA Export-Import Co. LTD.
Expansion into Global Markets: YADEA has been aggressively expanding its presence in global markets, particularly in Southeast Asia and Europe. They have established strong distribution networks and are introducing new models to cater to diverse customer preferences.
Focus on Innovation: YADEA has been investing in research and development to introduce innovative electric scooter models with advanced features such as long-range batteries, smart connectivity, and improved performance.
BMW AG
Entry into Electric Scooter Market: BMW has entered the electric scooter market with its CE 02 model. This scooter is designed for urban commuting and features a modern design, advanced technology, and a range of up to 90 kilometers.
Focus on Premium Segment: BMW is targeting the premium segment of the electric scooter market, offering high-quality products with a focus on design, performance, and technology.
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