LONDON--(BUSINESS WIRE)--The global e-scooter market size is poised to grow by 2.13 million units during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
Concerns with respect to increasing traffic congestion and pollution in major cities have created the need for alternative facilities such as shared electric scooters. Shared e-scooters are less expensive for daily commuters. Moreover, the compact size allows these vehicles to navigate easily through heavily congested traffic. They are also suitable for intra-city trips. Above all, the batteries of e-scooters can be easily charged owing to their compact size. These benefits and the high penetration of smartphones have increased the use of e-scooters for services such as food and courier delivery. These factors are expected to drive the electric scooters market share growth over the forecast period.
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Report Highlights:
- The major e-scooter market growth came from the sealed lead-acid batteries segment. Most e-scooters use lead-acid batteries because of the mature technology, high availability of these batteries, and low cost. Sealed lead-acid batteries can resist improper handling, whereas Li-ion batteries are more expensive and are prone to challenges such as overheating caused by irregular charge cycles. The market segment mainly caters to price-sensitive customer segments.
- APAC was the largest electric scooter market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing environmental concerns, the growing focus on reducing vehicular emissions, and the strong support from governments through subsidies and incentives are some of the significant factors driving the electric scooters market growth in this region.
- The global e-scooter market is fragmented. Electrotherm Ltd., Greaves Cotton Ltd., Hero Electric Vehicles Pvt. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., Niu Technologies, SONGUO MOTORS Co. Ltd., Yadea Group Holdings Ltd., Z Electric Vehicle Corp., and Zhejiang Luyuan Electric Vehicle Co. Ltd. are some of the major market participants. To help clients improve their market position, this e-scooter market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global e-scooter market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Development of High-performance E-Scooters will be a Key Market Trend
The development of high-performance e-scooters has been identified as one of the critical electric scooters market trends. High-performance electric scooters have low operating and maintenance costs, mostly owing to declined battery prices. Governments are offering subsidies and incentives and creating awareness about the growing health hazards owing to vehicular pollution to promote the adoption of high-performance e-scooters. Vendors have started offering fast and long-range electric scooters. Vendors are also offering connected e-scooters owing to the rising penetration of smartphones. The global electric scooters market growth is expected to grow during 2020-2024.
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E-Scooter Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist e-scooter market growth during the next five years
- Estimation of the e-scooter market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the e-scooter market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of e-scooter market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY BATTERY TYPE
- Market segmentation by battery type
- Comparison by battery type
- Sealed lead acid batteries - Market size and forecast 2019-2024
- Lithium-ion batteries - Market size and forecast 2019-2024
- Market opportunity by battery type
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Development of high-performance e-scooters
- Connected e-scooters
- Established two-wheeler OEMs venturing into the global e-electric two-wheeler market
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Electrotherm Ltd.
- Greaves Cotton Ltd.
- Hero Electric Vehicles Pvt. Ltd.
- Jiangsu Xinri E-Vehicle Co. Ltd.
- Mahindra & Mahindra Ltd.
- Niu Technologies
- SONGUO MOTORS Co. Ltd.
- Yadea Group Holdings Ltd.
- Z Electric Vehicle Corp.
- Zhejiang Luyuan Electric Vehicle Co. Ltd.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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