Electric Scooter Market —
According to a report found on Wise Guy Reports (WGR), the global electric scooter market is expected to scale a valuation of USD 51,324 Mn by 2026. Increasing levels of carbon emissions are the primary factor poised to drive the growth of the market in the forthcoming years. The efforts and investments directed towards the reduction of carbon footprints are anticipated to catapult the electric scooter market on upward trajectory. Also, the implementation of stringent environmental regulations is expected to catalyze market growth over the next couple of years.
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Depleting sources of fuel has led to a drastic increase in fuel prices. This, in turn, is anticipated to lead the shift towards electric scooters over the next couple of years. The adoption of these scooters is also influenced by the rising demand for electric vehicles. Prominent players are emphasizing on technological innovations for the development of the electric scooter market. Also, advancements in battery technology are projected to favor the growth pattern of the market in the upcoming years. To illustrate, the development of Li-ion batteries has increased the efficiency and lowered the cost of the product, thus, supporting market growth.
One of the major hindrances to market growth is the lack of enough charging facilities. However, governments and private organizations are investing in the establishment of public charging infrastructures. It is anticipated to pave the way for the expansion of the market in the years to come.
The different type of batteries used in the manufacturing of electric scooters is li-ion, lead-acid, NiMH, and others. Among these, the lead-acid segment accounted for the maximum share of the market in 2017. Although these batteries are cheaper, safe, and reliable, its short life cycle and low specific heat are the key disadvantages. These batteries are expected to be replaced by Li0ion batteries in the forthcoming years. Different types of products profiled in this report are retro, folding, and self-balancing. Plug-in and battery-based are the two types of electric scooters profiled in the assessment. The segments of the market, based on voltage, are 36V, 24V,48V, and others.
Geographically, the major regional segments of the electric scooter market are North America, the Middle East & Africa (MEA), Latin America, Europe, and Asia Pacific. Asia Pacific accounted for the highest share of the market in 2017 and is likely to maintain its significance over the next couple of years. Increasing disposable income in the region is expected to boost the sales of automobiles in the region. Also, the rising prices of fuel, in conjunction with the implementation of stricter emission laws, is anticipated to lead the shift towards electric scooters in the forthcoming years. The rising concerns of environments degradation are likely to motivate the growth trajectory of the market over the next few years. Efforts by the governments are being directed towards the accelerated adoption of electric vehicles, which is projected to favor market growth over the next few years. In addition, rising investments in the establishment of charging facilities are also poised to contribute to the development of the electric scooter market in the years to come.
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Name: Norah Trent
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