LONDON--(BUSINESS WIRE)--The e-scooter market is expected to grow by 2,138.50 thousand units during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The increase in traffic congestion and pollution in major cities is driving the demand for e-scooter sharing services. The popularity of e-scooter sharing services is also attributed to factors such as reasonable cost, convenience, easy navigation in heavily congested cities, no requirement for parking space, and suitable speed for intra-city trips. Moreover, the operational challenges of e-scooters are fewer because shared trips are generally shorter in duration and distance when compared with trips taken through other vehicles. Thus, the growing popularity of e-scooter sharing services is expected to drive market growth during the forecast period.
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As per Technavio, the development of high-performance e-scooters will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
E-Scooter Market : Development of High-Performance E-Scooters
The development of high-performance e-scooters is one of the key e-scooter market trends that will drive the growth of the market. High-performance e-scooters have a motor power of 48 hp (35KW) at 4,650 rpm. The powerful electric engine also guarantees immediate torque and a riding range of up to 99 miles or a top speed of 80 mph. The major driving factors for the growth of the high-performance electric two-wheeler market are the decline in battery prices, low operating and maintenance costs, and increasing awareness about the need to curb vehicular emissions. Two-wheeler manufacturers have started investing in high-performance electric motorcycles. For instance, in April 2019, Yamaha Motor, Suzuki Motor, and Honda Motor collaborated to jointly work on swappable batteries for electric motorcycles.
“Factors such as the emergence of connected e-scooters and established two-wheeler OEMs venturing into global electric two-wheeler market will have a significant impact on the growth of the e-scooter market value during the forecast period,” says a senior analyst at Technavio.
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E-Scooter Market: Segmentation Analysis
This market research report segments the e-scooter market by battery type (sealed lead acid batteries and lithium-ion batteries), and geographic segmentation (APAC, Europe, MEA, North America and South America).
The APAC region led the e-scooter market in 2019, followed by Europe, North America, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as increasing environmental concerns, growing focus on reducing vehicular emissions, and strong support from governments through subsidies and incentives.
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Some of the key topics covered in the report include:
Battery type segmentation
- Sealed lead acid batteries
- Lithium-ion batteries
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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