New York, Aug 13, 2021 (GLOBE NEWSWIRE) – Electric Scooter & Batteries Market Overview: According to a Comprehensive Research Report by Market Research Future (MRFR), Electric Scooter & Batteries Market Research Report, Type, Product, Voltage, Travel Range and Region – Forecast to 2027 “the market will achieve promising returns with 17.93% CAGR in the evaluation period (2021-2027).
Global Electric Scooter and Batteries Market
Electric scooters are developing at a rapid pace due to the electrification of older two-wheelers and manufacturers’ efforts to rename old products. They can be rented to customers and leased through a mobile application. Electric scooter batteries are generally made using lithium, however composing lithium with other suitable materials is contemplated. Market Research Future (MRFR) Global Electric Scooters and Batteries market report offers a comprehensive analysis of trends and niches for the forecast period (2020-2027). The report highlights the impact of the COVID-19 pandemic.
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List of Key Companies Profiled in Electric Scooters & Batteries Market research report Are:
- Terra Motors Corporation (Japan)
- GOVECS AG (Germany)
- Greenwit Technologies (Canada)
- BOXX Corp. (USA)
- BMW AG (Germany)
- Jiangsu Xinri E-Vehicle Co. Ltd (SUNRA) (China)
- PIAGGIO & C. SPA (Italy)
- Wuxi YADEA Export-Import Co. LTD. (China)
- ZNEN MOTOR (China)
- Mahindra & Mahindra Ltd (India)
- Vmoto Limited (Australia)
- Yamaha Motor Co. Ltd. (USA)
- TAIZHOU UGBEST EV CO. LTD (China)
- Honda Motor Co. Ltd. (Japan)
- Gogoro Inc. (Taiwan)
are leading players in the global electric scooter and batteries market. The establishment of indigenous production units and investments by well-known manufacturers in developing countries can be observed on the market.
The Ola Electric Scooter, launched by its namesake company, can go over 100 mph on a single charge.
Search the detailed market research report (133 pages) on Electric Scooters and Batteries
Low maintenance costs to increase market growth
The low maintenance costs of electric scooters are expected to increase the revenue of the electric scooter and battery market. Rising fuel prices and aversion to fuel-powered vehicles due to increasing climate awareness may bode well for the market. The introduction of scooters through ridesharing and bicycle taxi services will attract more sales.
Government support to favor the market
The market for electric scooters and batteries is expected to gain in value due to the existing electrification of bus and car fleets. Government initiatives to reduce emissions and the countries’ sustainable goals to switch to electric power by 2030 can greatly benefit the market. Manufacturers’ focus on sustainable designs and sales of electric motorcycles can encourage investment in the market. The use of lithium-ion batteries and efforts to increase the charging capacity by using suitable materials for the holder can also promote market growth.
Lack of charging infrastructure
The lack of investment in charging infrastructure can create hurdles for the electric and scooter battery market. Dependency on gas stations and a lack of charging stations can be a challenge. But remodeling existing stations and investing in available land can fuel market growth.
Effects of COVID-19
The COVID-19 pandemic has severely impacted sales of the electric scooter and battery market. Closing showrooms and production units can have a negative impact on market growth. The market is fragile as it depends on foreign sources for its battery technology. Sustainable goals of the nations and the development of long-life replaceable batteries can, however, bode well for the market in the forecast period.
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Battery-based segment for maximum share
In terms of type, the battery-based electric scooter segment held the largest market share due to increasing sales of electric scooters. It is expected to maintain its position in the world market during the forecast period due to the demand for affordable mopeds by lower middle class customers.
Self-balancing electric scooters will dominate the market
Self-balancing scooters are expected to dominate the global electric scooter and battery market. A self-balancing electric scooter is a two-wheeled transporter designed and manufactured for residential and commercial use. Use by young and geriatric individuals can drive segment growth.
Dominate over 48V segment
In terms of voltage, the segment above 48V held the largest market share due to the increasing demand for a longer range with shorter charging times and a higher load capacity. The 48V battery is used in retro and self-balancing electric scooters and is managed by a battery management system. The demand for high-speed electric scooters due to the low battery weight and high capacity can drive the segment growth.
More than 40km range to lead market sales
In terms of range, the segment over 40 km held the largest market share due to the demand for long ranges and shorter charging times. These electric scooters are widely used on work trips and trips to the city center.
APAC becomes global market leader for electric scooters and batteries
APAC had a market share of 52.1% in 2018. It can lead the global electric scooter and battery market because of government initiatives to promote e-mobility and tax credits for first-time owners. The presence of premium scooter manufacturers in the region, coupled with plans by food aggregators and logistics companies to electrify existing fleets, can bode well for the market.
Segmentation of the Market Covered In Research:
Information by type (plug-in and battery-based), product (retro, self-balancing and foldable), voltage (24V, 36V, 48V and more than 48V), range (up to 20 km, 20 km – 40 km.) And more than 40 km) and region (North America, Europe & Asia-Pacific))
About the future of market research:
Market Research Future (MRFR) is a global market research firm that prides itself on its services and offers complete and accurate analysis in relation to various markets and consumers worldwide. Market Research Future has the outstanding goal of offering customers optimal research quality and granular research. Our market research studies for products, services, technologies, applications, end users, and market participants for global, regional, and country specific market segments enable our customers to see more, know more, and do more to answer your key questions.
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