Global Scooter Market is valued at US$ 32.5 Bn and is expected to grow at a CAGR of 2.1% over the Forecast Period, says Absolute Markets Insights – KSU Leave a comment


Global scooter market is valued at US$ 32.5 Bn in 2019 and is anticipated to grow at a CAGR of 2.1% to reach US$ 38.4 Bn in 2027. Technological advancements in the automotive industry is poised to open pathways for newer revenue models. Rising awareness towards climate change and emission has transformed the consumption pattern of automotive users thus mandating automotive players to innovate greener technologies which are befitting the current and future consumer demands. Conventional scooters which are powered by internal combustion (I.C) engines through burning of fossil fuels to generate power are facing challenges from rise in pollution from fossil fuels leading to government regulations. Thus, scooter manufactures are exploring electric propulsion for powering new age scooters. Electric scooter or e-scooters either use batteries or hydrogen fuel cells to drive the motors which propel the bike. Battery technology plays a vital role in the performance of electric scooters. Conventional lead acid batteries used in automobiles have a shorter life-span and require frequent maintenance. These factors have encouraged industry players to develop novel battery technologies. Emerging battery technologies including lithium ion batteries are gaining popularity as they have higher energy storage capacity, depth of discharge, longer life-span among others compared to lead acid batteries. These characteristics of lithium ion batteries has influenced electric scooter manufacturers to adopt this technology in their offerings. For instance, in 2019 Bajaj Auto Limited, launched an electric version of their Chetak scooter which is powered by lithium ion battery and can go up to 95 km in a single charge. Scooter manufacturers are also partnering with other firms to develop viable lithium battery technologies. For instance, in 2017 Toshiba Corporation, Suzuki Motor Corporation and DENSO Corporation announced their partnership to develop and manufacture lithium-ion batteries for automotive applications including scooters.

 

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The current ecosystem for electric scooters poses challenges in terms of lack of charging stations, lesser maturity of technology among others. However, governments across the globe are taking initiatives to enhance their electric scooter charging infrastructure for facilitating use of electric scooters for general transportation. Technological advancements in propulsion technologies coupled with government initiatives are expected to drive the global scooter market over forecast period. There is an upsurge in the demand for micro mobility owing to the rise in traffic congestion. Technological advancements in scooter industry have led to development of connected electric scooters. This emergence of smart electric scooters have contributed towards emergence of mobility trends including ride sharing or hailing. Owing to the high cost associated in purchasing and maintaining private scooters people are increasingly adopting these alternate transportation services as they offer better convenience. Bike/ Scooter sharing is anticipated to witness high growth owing to the entry of major players in the e-scooter sharing business. For instance, Uber announced an investment of US$ 170.0 Mn in electric scooter sharing start-up Lime based in San Francisco. These trend is anticipated to create new revenue generation models through electric scooter thus, boosting the demand in global scooter market over forecast years.

 

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The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.

The detailed research study provides qualitative and quantitative analysis of scooter market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

  • Pre-owned scooters are expected witness high growth in global scooter market over future years owing to their economic factors attracting high number of migrant laborers and students.
  • Asia Pacific region held significant share of global scooter market in 2018 owing to is expected to the rise in disposable earnings of people in the rapidly developing economies of the region.
  • Some of the players operating in the scooter market are BAOTIAN MOTORCYCLE INDUSTRIAL CO.,LTD, BMW Motorrad, Gogoro Inc., Hero MotoCorp Ltd., Honda Motor Company Ltd, JIANGSU XINRI E-VEHICLE CO., LTD., Kawasaki Heavy Industries, Ltd., KWANG YANG MOTOR CO., LTD., Motive Power Industry Co. Ltd. Niu International, Piaggio & C. SpA, SANYANG MOTOR CO., LTD., Suzuki Motor Corporation, TVS Motor Company, Vmoto Limited, Yadea Technology Group Co., Ltd. and Yamaha Motor Co., Ltd amongst others..

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Global Scooter Market:

  • By Propulsion
  • C Engine
  • Battery
  • Lead Acid
  • Lithium Ion
  • Nickel Metal Hydride
  • Fuel Cell
  • By Offerings
  • Products
  • Vehicles
  • Components
  • Services
  • By Ownership Type
  • New
  • Pre-owned
  • By Sales Channels
  • Online
  • Offline
  • Dealers
  • Retailers
  • By Region
  • North America
  • S
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

 

 

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About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

 

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Company: Absolute Markets Insights

Email id: sales@absolutemarketsinsights.com

Phone: +91-740-024-2424

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Website: https://www.absolutemarketsinsights.com/

 

 



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