Meticulous Research®, a prominent global market research firm, has published a detailed 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.” This report outlines significant trends and forecasts for the electric scooter market, projecting it to reach a value of $408.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 21.6% from 2024 to 2031.
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The surge in the electric scooter market is primarily driven by factors such as increased localization of manufacturing in emerging economies, heightened consumer acceptance of electric two-wheelers over traditional internal combustion engine (ICE) models, and a growing preference for electric vehicles in developed regions. However, the market faces challenges, including consumer reliability concerns stemming from accidents involving electric scooters and a lack of investment from legacy manufacturers in electric mobility solutions.
Government initiatives aimed at reducing traffic congestion and environmental pollution are expected to create additional growth opportunities. Conversely, the insufficient charging infrastructure presents a significant hurdle to market expansion.
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Market Segmentation and Analysis
The report segments the electric scooter market into various categories for a nuanced analysis:
Key Market Players
Prominent players in the electric scooter market include Fuji-Ta Bicycle Co., Ltd., Yamaha Motor Co., Ltd., Niu Technologies, and Hero MotoCorp Ltd., among others. These companies are pivotal in shaping the industry landscape through innovations and strategic investments aimed at meeting growing consumer demand for electric scooters.
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