Around the globe, some of the most significant factors driving the global electric scooter business are climate change and increasing prices of petroleum products. Consumers from emerging countries are already affected by the increased cost of petrol. Easy incorporation of high mechanical efficiency, regenerative braking, low noise levels, and relatively economical maintenance costs are crucial factors providing battery-powered vehicles with an edge over traditional variants with internal combustion engines (ICE).
The electric scooter market is growing in developed and developing countries. Due to the developments in battery technologies are one of the key trends that will gain traction in the electric-scooters market globally. The lithium-ion battery will continue to be the important factor of the electric scooter market. The improvements in Li-ion batteries, electric scooters have made them light in weight and increased their lifespan compared to lead-acid and valve-regulated lead-acid (VRLA) batteries. Electric Scooter Industry World over was US$ 20.9 Billion in 2020.
As per our Report, by-product, the retro segment dominates the electric scooter market due to the shift toward green vehicles for commuting over short distances. This move has served to reduce overall commuting costs for consumers over the world. As per this research study, Global E-scooter Market will grow with a CAGR of 8.55% during 2020-2026.
The Globally United States is slated to witness witnessing a steep growth in the entry of international electric scooter manufacturers. Vendors active in the United States focus on launching multiple variants of electric scooters to attract the young population. In addition, governments worldwide are keen to curb the pollution levels by enforcing stringent emission norms, extra tax on new vehicle purchase, and special concessions on the purchase of electric scooters to consumers and manufacturers.
COVID-19 Impacts on E- Scooter Industry
The current pandemic has resulted in the overall shutdown, restrictions across the countries. These have impacted the temporary shutdown of manufacturing industries and other business, and at the same time, this has negatively impacted the sales of e-scooters globally. Due to this, manufacturing company, are now focusing on reducing operational costs.
Companies Working in Electric Scooter Space
Players such as Energica Motor Company, Niu Technologies, Vmoto Limited, Yadea Group Holdings Ltd and KTM Group are focused on launching last-mile e-scooter rental services in different countries and cities with a joint venture strategy to expand their industry footprint across the world.
This report titled “Electric Scooter Market Global Forecast by Country (China, India, Japan, Germany, United States, United Kingdom, Spain, France, Russia, Italy, Poland, Others), Product (Folding, Retro, Standing/Self Balancing), Battery Type (Lithium-ion (Li-Ion), Sealed Lead Acid (SLA), Nickel-metal hydride (NiMH), Others), Company (Vmoto Limited, Energica Motor Company, Niu Technologies, Yadea Group Holdings Ltd, KTM Group)" provides a detailed analysis of Electric Scooter Industry.
Product - Market breakup from 3 viewpoints
- Retro
- Standing/Self Balancing
- Folding
Battery Type - Market breakup from 4 viewpoints
- Sealed Lead Acid (SLA)
- Lithium-ion (Li-Ion)
- Nickel-metal hydride (NiMH)
- Other
Country - Market breakup from 12 viewpoints
1. India
2. China
3. Japan
4. United States
5. Germany
6. United Kingdom
7. France
8. Russia
9. Spain
10. Italy
11. Poland
12. Others
All company have been covered from 2 viewpoints
- Overview
- Recent Development and Initiatives
Company Analysis
1. Energica Motor Company
2. Niu Technologies
3. Vmoto Limited
4. Yadea Group Holdings Ltd
5. KTM Group
What is the estimated value of the Global Electric Scooter Market?
What is the growth rate of the Global Electric Scooter Market?
What is the forecasted size of the Global Electric Scooter Market?
Who are the key companies in the Global Electric Scooter Market?
| Report Attribute | Details |
|---|---|
| Published | May 2021 |
| Forecast Period | 2020 - 2026 |
| Estimated Market Value ( USD | $ 20.9 Billion |
| Forecasted Market Value ( USD | $ 34.2 Billion |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Energica Motor Company
- Niu Technologies
- Vmoto Limited
- Yadea Group Holdings Ltd
- KTM Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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