In-Depth Insight into the Electric Scooter Market by Meticulous Research®

 

Meticulous Research®, a key player in global market analysis, has unveiled a thorough report titled “Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Kick Scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user, and Geography - Global Forecast to 2031.” The report highlights promising growth for the electric scooter market, predicting it will reach $408.1 billion by 2031, with a robust CAGR of 21.6% from 2024 to 2031.

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The electric scooter market's growth is fueled by several factors, including the increasing localization of manufacturing in emerging economies, greater acceptance of electric two-wheelers over traditional models, and a rising inclination toward electric transportation in developed nations. Nonetheless, challenges such as safety concerns from accidents involving electric scooters and limited investment from traditional manufacturers in electric mobility may hinder growth.

Government initiatives aimed at reducing urban traffic and pollution are expected to provide significant opportunities for market expansion. However, a major hurdle remains the insufficient charging infrastructure, which could impact adoption rates.

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Detailed Market Segmentation

The report offers a segmented analysis of the electric scooter market across various dimensions:

1. Vehicle Type: The market consists of electric motorcycles, electric mopeds, and e-kick scooters & bikes. In 2024, e-kick scooters & bikes are projected to capture the largest market share, driven by a global shift towards eco-friendly transport and supportive government initiatives.
2. Power Output: The market is divided into categories based on power output, including less than 3.6 kW, 3.6 kW to 7.2 kW, and 20 kW to 100 kW. The less than 3.6 kW segment is expected to lead, driven by increasing urban commuting needs and governmental support for e-kick scooters.
3. Battery Technology: The segments include sealed lead-acid, lithium-ion, and lithium-ion polymer batteries. The lithium-ion battery segment is anticipated to dominate in 2024, reflecting the growing shift towards electric vehicles and renewable energy technologies.
4. Motor Type: The market distinguishes between hub motors and mid-drive motors, with hub motors expected to hold the largest share due to their reliability and flexibility, as well as supportive government policies promoting electric vehicle adoption.
5. Charging Type: Charging solutions are categorized into connector and wireless charging. Connector charging is projected to lead due to advancements in standardization, which enhances compatibility across charging stations.
6. End User: The market includes various end users such as government bodies, academic institutions, businesses, and individuals. The business organizations segment is poised to dominate, driven by government initiatives fostering electric vehicle usage.
7. Geography: The market spans North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to dominate the market due to rising income levels, fuel price increases, and supportive governmental policies promoting electric vehicles.

Leading Market Participants

Key players shaping the electric scooter market landscape include companies such as Yamaha Motor Co., Ltd., Niu Technologies, and Hero MotoCorp Ltd. These firms are critical to driving innovations and expanding the electric scooter market in response to rising consumer demand and environmental considerations.

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