03 August 2021
Electric Scooters Market: Overview
The growth trajectory of electric scooters market has been dotted with exciting product launches in several parts of the world over the years. The growth has piggybacked on the wave of commercialization of electric vehicles, mainly by opening the market to private buyers. In developed as well emerging economies, notably in the U.K. and India, scooter manufacturers have forked out money to optimize design and battery power. Additionally, incorporation of novel features such as IoT and artificial intelligence (AI) has been the cynosure of attention for consumers in the electric scooters market. Advances in sensor and motor technologies have helped electric scooters rapidly gather steam in various markets, nudging regulators to think of these battery-operated two wheelers a thing no more a technological novelty.
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Two key factors that account for the vast business proposition of the electric scooters market: their independence from fuel price fluctuations and the markedly reliable performance of lithium-ion battery packs in recent years.
Electric Scooters Market: Competitive Analysis and Key Developments
A wide assortment of futuristic features accounts for the allure for vehicle buyers. Electric vehicle manufacturers and several automakers have also made foray in the electric scooters market. They are launching electric vehicles at competitive price in electric vehicle markets that have shown incredible potential for electric and hybrid vehicles. A case in point is the announcement by BGAUSS that it is soon going two new electric vehicles in India by first week of August 2020. The company eyes sizable bankable opportunities in the electric two-wheeler segment in the country and vehicle buyers will see these electric scooters in five variants. A wide range of features will adorn these vehicles, announced the company.
The motivation behind such product launches is undoubtedly the large appetite of the country market toward heightened convenience and considerably advance their comfort, while giving them an eco-friendly option. Stridently, in coming years, what will differentiate winners from new entrants will not just be attractive price range, but more importantly the charging capacity of the battery used and the distance that it can power the vehicle.
Electric Scooters Market: Key Trends
The growing number of electric scooters manufacturing facilities that have cropped up in recent years is witness to the high growth potential in the electric scooters market. In developed countries, availability on shared model has offered a big impetus to the market’s growth. Shared e-scooter startups have been increasing their footprints in several cities of the U.S. and Europe, for instance. Rising use of electric scooters in such sharing schemes in scores of countries across the world has also fueled the prospects in the electric scooters market.
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In recent years, scooter lifespan has been a critical issue for regulators to assess the claims of the remarkable environmental-friendliness trumpeted by stakeholders marketing electric scooters aggressively. This implies that unless there is sufficient evidence that making and moving of electric vehicles really cut down the carbon emissions, the claim of ‘green’ proposition may fall through. Extensive studies on travel habits and battery capacity may help shed light on environmental-friendliness of products in the electric scooters market. Another crucial issue that players in the electric scooters market have put their attention on is the safety of riders as well as pedestrians. Focus on addressing such concerns will be a key part in the growth of the electric scooters market.
Electric Scooters Market: Regional Analysis
On the regional front, developed regions of Europe and North America will be key to the projected growth trajectories of the electric scooters market. Asia Pacific will also be a key region, reason having to do with the growing support of governments in reducing the carbon footprint of the transportation sector.
Several cities in Europe and America have presented promising avenues to industry stakeholders in the electric scooters market due to large number of e-scooter share schemes. Countries such as U.K. and Colombia will offer significant momentum on the back of changing regulations. With the COVID-19 lockdown easing in these countries, the modernization of the transportation will gather pace.
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