Market Size of Electric Scooters Market, Forecast Report 2017-2027

Market Size of Electric Scooters Market, Forecast Report
2017-2027
May 2017
Report Id : REP-GB-2705
Status : Ongoing
Category : Automotive & Transportation
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Electric Scooters Market
Electric scooters are electricity powered scooters that run on rechargeable batteries and distinct from
motorcycles in terms of having step-through frame. Traditionally, vehicles with step-through frame is
preferred for females owing to the advantages such as light weight and high comfort. After the
introduction of electric scooters into the market, the scenario has changed. Now electric scooters, which
are equipped with most modern features are widely preferred by both men and women alike. Electric
scooters market is estimated to grow at a stable rate owing to the factors such as silent operation,
incentives & subsidies from the government, better efficiency, environmental friendly, and lightweight
than the conventional vehicles.
The electric scooters industry is undergoing high technological advancements and innovations, one of
them being the transition in battery technologies. These technological advancements and innovative
equipment will spur the global electric scooters market and eliminate growth restraints such as range
anxiety, the higher cost when compared to conventional vehicles and less developed charging stations.
Though a few early electric scooters used nickel-metal hybrid batteries, majority electric scooters of
present are powered by lithium-ion rechargeable batteries. Over the past few years, the electric scooters
market has witnessed the entry of many large OEMs into the dome.
North America and Europe are expected to grow at a steady pace over the forecast period, due to the
government initiatives. Additionally, Asia Pacific region is estimated to grow rapidly over the forecast
period, owing to various factors such as favourable demographics, rising standard of living, ongoing
development in urban & rural areas and improvement in road infrastructure.
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Electric Scooters Market
Global Electric Scooters Market: Dynamics
Drivers:
A key growth driver for electric scooters is the zero/low tailpipe emission, which makes the electric scooters ecofriendly. Tailpipe emission is a major concern associated with internal combustion engine vehicles.
Rise in fuel prices and low noise operation of electric scooters are estimated to fuel the growth of global electric
scooters market. The growth in the transportation sector has severely depleted the non-renewable petroleum reserves
causing the fuel prices to rise. This rise will be exponential during the upcoming years as crude oil reserves will be
reduced leading to higher demand, paving a way for the growth of vehicles running on alternate sources of energy.
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Restraints:
One of the significant restraints associated with electric scooters market is less developed charging station
infrastructures. In the United States, only around 32,000 charging ports are available from 12,700 charging stations in
the road network, while the sales of Plug-In Hybrid and all electric vehicles in the country was around 150,000 units in
2015 alone.
The relatively higher cost than conventional vehicles and range anxiety also act as growth restraints in the global electric
scooters market.
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Electric Scooters Market
Global Electric Scooters Market: Segmentation
Global electric scooters market can be segmented on the basis of technology as follows:
• Hybrid Electric Vehicles
• Plug-In Hybrid Electric Vehicles
• Battery Electric Vehicles
• Global electric scooters market can be segmented on the basis of power source as follows:
• Stored Electricity
• On Board Electric Generator
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Electric Scooters Market
Global Electric Scooters Market: Regional Outlook
On the basis of region, Asia Pacific is expected to be the growth engine of the electric scooters market
over the forecast period.
The key countries mentioned in the Asia-Pacific region are China, ASEAN and India as an outcome of
steady gross domestic product (GDP) growth, a favourable demographic profile i.e., a younger population
and an underdeveloped public transport system. The North America, Japan and Europe are expected to
grow at a steady rate over the forecast period.
Global Electric Scooters: Market Participants
Examples of some of the market participants in the global electric scooters market identified are:
• Gogoro Inc.
• Mahindra GenZe
• Jiangsu Xinri E-Vehicle Co.,Ltd.
• BMW Motorrad International
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Electric Scooters Market
• Yamaha Motor Co., Ltd.
• Honda Motor Co., Ltd.
• Vmoto Limited
• Hero Electric
• Yadea Technology Group Co., Ltd.
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