Scooters Market Size Worth $33.58 Billion By 2030

The global scooters market size is expected to reach USD 33.58 billion by 2030, at a CAGR of 0.1% over the forecast period, according to a study conducted by Grand View Research, Inc. Declining raw material prices, the growing adoption of electric scooter sharing service, and rising consumer awareness towards eco-friendly transportation is projected to fuel the market growth. As the automotive industry is evolving, the uncertainties over the adoption of electric scooters related to the lack of charging infrastructure in developing economies are gaining prominence. It is forcing the manufacturers to undertake strategies to make design and specification alterations in line with the consumer’s expectations to comprehend the full potential of the evolving electric two-wheeler industry. Hence, the introduction of home charging solutions, battery swapping stations, and product-related innovations have boosted the revenue growth in the market for electric scooters over the past two years and is projected to continue a proliferated trend over the next eleven years.

The role electric scooters is portrayed in meeting the standards for zero-emissions is contributing significantly to reducing the carbon emission gap by 2025. The consumption of electricity in these vehicles can be managed with proper energy and power infrastructure planning, which is further mitigated by evolving technologies such as solar-powered vehicles and vehicle-to-grid technologies.

In addition, the key players are focusing on innovations to expand their reach. For instance, Gogoro, Inc. is offering its customers battery-swapping network to offset the cost of purchasing an electric scooter by removing the battery, which accounts for around 35% to 50% of the entire vehicle cost. Furthermore, the charging system manufacturers are collaborating with automakers and researchers to develop strategies that can facilitate scooters access to clean energy from renewable sources such as solar power, wind energy, among others, thus influencing the market growth over the forecast period.

Asia Pacific dominated the market in 2019 and is projected to continue its dominance over the forecast period. Most of the players manufacturing scooters belong to China, Japan, South Korea, and India. These players generate revenue by selling their products internationally, either through their distribution channel or through the OEM channel. The role of governments of various economies such as India, China, and Japan, in setting up standards and regulations for vehicle charging infrastructure, is anticipated to have a positive impact on the regional market growth.

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Scooters Market Report Highlights

• The normal scooters segment is expected to dominate the overall market owing the easy availability of petrol, striking mileage, and safe long-distance drive established scooters as an everyday commuter vehicle. The segment is expected to reach USD 31.99 billion by 2030
• The conventional electric scooters segment is expected to dominate the segment and the trend is expected to continue over the forecast period. The segment is anticipated to reach USD 1.16 billion by 2030. A lower-priced conventional scooter would incur fewer expenses and lower Total Cost of Ownership (TCO) compared to a normal scooter
• Asia Pacific is projected to account for the majority share of the market over the forecast period. Fluctuating fuel price and air pollution caused by gas emissions have encouraged the regional demand for electric scooters, which is projected to drive the regional market

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About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com