Renub Research report titled “Global Electric Scooter Market by Country, Product (Retro, Standing/Self Balancing, Folding), Battery Type, Company” provides a complete analysis.
The global the market for electric scooter is growing due to favorable policies of the government in developing and developed countries to control global air pollution. According to Renub Research analysis, Electric Scooter Market is forecasted to be US$ 30 Billion by the year 2025 due to growing demand in Europe, China, and the United States. Consumers are avoiding traditional motorcycles as they run on petroleum products, which are responsible for air pollution, hazardous gases such as carbon dioxide, carbon monoxide, unburnt benzene, nitrogen oxide, and particulate matter etc, due to this many airborne diseases spread in the environment affecting lives of million citizens.
The market for Electric Scooter market will also grow with the decreasing price of Lithium-ion batteries, the cost of Electric scooters is decreasing due to which a significant number of people can afford the electric scooter. Advancement in technology and battery such as lithium-ion, nickel-metal hydride, and sealed lead acid is propelling the global electric scooter market as these batteries are light-weight and improving power efficiency is also the reason behind the growth. The lithium-ion battery is preferred over other batteries as they have a faster-charging rate as well as much higher energy density as compared to other batteries available in the current market.
Various countries like United States, China, Japan, Germany, and Canada are providing subsidies, tax benefits, and lucrative incentives for electric scooter consumers to boost the sale of electric scooters in the country. Apart from that, developed countries like the United States, Canada, and United Kingdom are facilitating electric scooter consumers by providing a great number of public charging stations at airports, supermarkets, malls, restaurants and cinema theaters, etc. Electric scooter sharing services are also available in various counties.
Fuel oil prices and concerns of carbon and greenhouse gas emissions among young buyers makes electric vehicles, especially electric scooter, as their first choice to travel. Moreover, advancement in technology as regenerative braking, improved mechanical efficiency, lower cost of maintenance, and negligible noise pollution of the electric scooter as compared to trading internal combustions engines are also the driving force.
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The influence of the COVID-19 pandemic on the Electric Scooter Market
Over a billion people are affected due to Novel Corona virus (COVID-19) around the world. Every country is facing healthcare, and financial difficulties and lockdown are imposed to prevent the further spread of this deadly pandemic. Only supply of limited products such as healthcare, personal care and food and beverages is available. The market of all various products and services is affected in the current time frame, and an electric scooter is one of them. But the market is expected to grow once lockdown is lifted. As in developed and developing countries people will use personal vehicle to commute and avoid traveling in shared vehicles and public transport.
By Product: The market for 3 types of Electric Scooters are covered in this Research Report Retro, Standing/Self Balancing, Folding, According to Renub Research analysis Retro is leading the market.
By Battery Type: This research report has covered the market for Lithium-ion (Li-Ion), Sealed Lead Acid (SLA), Nickel-metal hydride (NiMH), Others battery.
By Country: The markets for all the leading countries are coved in the research report such as India, China, United States, Japan, United Kingdom, Germany, France, Russia, Poland, Spain, Italy, Others.
By Companies: Company overview, recent Development/Strategy and Revenue analysis of Vmoto Limited, Energica Motor Company, Yadea Group Holdings Ltd, Niu Technologies, KTM Group are provided in this research report.
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