ELECTRIC SCOOTER Market Overview:
ELECTRIC SCOOTER is the energy derived from ocean waves, tidal streams, tidal range, ocean currents, and temperature gradient without emitting harmful greenhouse gases. It is also known as marine energy, marine power, and marine renewable energy. The market is expected to increase from the growing global attention on energy efficiency against the backdrop of rising energy costs and pollution. Power grid designs are expected to change over time as the future energy industry shift toward a decentralized supply, which is paralleled by the emergence of smart grids. Solar, wind, ocean, and biomass energy are becoming more important as smaller power plants mushroom under the decentralized structure.
Global Electric Scooter Market Characteristics:
• The Electric scooter market growth is mainly due to the expansion of Taiwan & Chines venders in International market.
• Latest Technological advancement growing the market significantly. For instance, Development of Carbon batteries that can charge 20 times faster.
• Mahindra GenZe is front runner in the market with competition of various prominent players like BMW Motorrad International, Vmoto limited, and Gogoro etc.
• OLA is one of the companies recently entered in electric scooter market with fully capable electric scooter in the S1 and S1 pro.
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Estimated Growth of Revenue:
Global Electric Scooter Market was worth 861K Units in 2020 and total revenue is expected to grow at a rate of 31.8 % CAGR from 2021 to 2027, reaching almost 5,948 K Units in 2027.
ELECTRIC SCOOTER Market Scope:
We looked at the ELECTRIC SCOOTER Market from every perspective possible, using both primary and secondary research methodologies. This increased our understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, and customer behavior, among other things. The data is then compiled and assessed using a range of market estimation and data validation methodologies. Furthermore, we have an in-house data forecasting engine that forecasts market growth until 2027.
ELECTRIC SCOOTER Market Dynamics:
The market is anticipated to benefit from effective monitoring technologies and smart architecture. The technology is expected to gain more popularity than traditional alternatives because of its high dependability and predictability index. ELECTRIC SCOOTER helps in reducing inefficiencies which is a vital need given the increased contribution of renewable energy to the overall energy mix. During the forecast period, the worldwide ELECTRIC SCOOTER market is anticipated to rise due to the depletion of fossil fuels, growing environmental concerns, rising energy demand, and shifting toward creating renewable energy. The major renewable energy source technology is Ocean wave power conversion for generating more than 1000-10,000 GW and is expected to meet the rising demand and increase the potential for wave power generation.
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ELECTRIC SCOOTER Market Segmentation:
Based on Product, the market is sub-segmented Retro, Standing/Self-Balancing and Folding. Due to the shift toward green vehicles for short-distance commuting, the retro sector led the market with a revenue share of more than 50% in 2020. This action has helped consumers all over the world lower their overall commute expenditures. However, in countries such as the United States, the situation is changing, as an increasing number of millennial living in cities are opting for more practical, lightweight automobiles with lower operating costs. Over the forecast period, the folding variant is expected to grow at a CAGR of 10.1 %. Demand for folding e-scooters has risen as a result of the introduction of next-generation smart electric scooters with big data and IoT technology, as well as the need for product differentiation. However, from 2020 to 2028, the control and convenience of standing/self-balancing e-scooters in commercial and domestic applications for combining daily activities is expected to drive demand.
Based on Battery type, the market is sub-segmented into Sealed Lead Acid, NiMH and Li-Ion. Because of the benefits of the SLA battery, such as robustness, damage tolerance, and low cost, the SLA battery sector dominated the market with a revenue share of more than 60% in 2020. However, because SLA batteries are big and deplete quickly even when not carrying heavy loads, their use is expected to reduce in the coming years. The lithium-ion battery market is expected to grow at a rate of 10.4 % per year. Lithium-ion batteries are predicted to become more affordable in the next years, with prices falling by roughly 70% by 2028. As a result, electric scooter prices are projected to fall as well. The market for battery-operated e-scooters is expanding due to more ecologically friendly batteries and a growing need for high-performance batteries such as Li-ion and NiMH. High charging-discharging efficiency, high charge density, and lightweight are just a few of the advantages offered by these batteries.
ELECTRIC SCOOTER Market Leading Companies:
• Mahindra GenZe
• Vmoto Limited
• Jiangsu Xinri Electric Vehicle Co. Ltd
• BMW Motorrad International
• Honda Motor Co. Ltd.
• Brammo, Inc.
• AllCell Technologies
• Mahindra & Mahindra Ltd
• Yamaha Motor Company Limited
• Suzuki Motor Corporation
• KTM AG
The ELECTRIC SCOOTER market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the ELECTRIC SCOOTER market share and will continue to be a major shareholder in the global ELECTRIC SCOOTER market.
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COVID-19 Impact Analysis on ELECTRIC SCOOTER Market:
The COVID-19 pandemic caused a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the ELECTRIC SCOOTER market to decelerate in 2020. The new report includes insights, analysis, estimates, and predictions that include the influence of COVID 19 on the ELECTRIC SCOOTER market. Maximize ELECTRIC SCOOTER Market Research report includes an in-depth analysis of consumer behavior in the wake of the pandemic as well as its impact on the future of the ELECTRIC SCOOTER market along with the impact on segmentation, drivers, and increase in market restraints.
Key Questions Answered in the ELECTRIC SCOOTER Market Report are:
- What will be the CAGR of the ELECTRIC SCOOTER market during the forecast period?
- Which segment emerged as the leading segment in the ELECTRIC SCOOTER market?
- Which are the prominent players in the ELECTRIC SCOOTER market?
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