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Electric Scooter Market [By Type (Plug-in, Battery-based) By Product (Retro, Self-balancing, Folding); By Battery Type (Lead-acid, Li-ion, NiMH, Others); By Voltage (24V, 36V, 48V, Others); By Region]: Market Size & Forecast, 2018 u2013 2026
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Electric Scooter MarketSet to Exceed USD 51,324 million by 2026| CAGR 12.8% “Electric Scooter Market [By Type (Plug-in, Battery-based) By Product (Retro, Self-balancing, Folding); By Battery Type (Lead-acid, Li-ion, NiMH, Others); By Voltage (24V, 36V, 48V, Others); By Region]: Market Size & Forecast, 2018 – 2026”
Electric Scooter Market Estimate & Forecast to 2026 According to a new research published by Polaris Market Research the electric scooter market is anticipated to reach over USD 51,324 million by 2026. In 2017, the retro product segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period. Several stringent vehicular emission norms passed by governments worldwide have boosted the adoption of electric scooters. Growing concerns regarding environment, depleting fuel resources, and increasing need to reduce fuel consumption further support the growth of this market. Additionally, the increasing acceptance and high success rates of electric cars have encouraged market players to apply similar technologies in the two wheeler segment and optimize performance. Increasing investments by vendors in technological advancements coupled with decreasing prices of Li-ion batteries and powertrain components would reduce the overall cost of these vehicles in the coming years, further boosting the market growth
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Electric Scooter Market Estimate & Forecast to 2026 The different battery types used in electric scooters include lead-acid, li-ion, NiMH, and others. In 2017, the lead-acid segment accounted for the highest market share. Lead-acid batteries are commonly used as a source of battery in electric scooters. They are comparatively cheaper than other batteries but offer low kilowatt-hours of energy storage per kilogram of weight. These batteries are inexpensive, reliable, and safe. However, these batteries offer low specific energy, short life cycle, and poor cold-temperature performance, which restrict its use in major applications. These batteries could be easily replaced by lithium-ion batteries in the coming years, however, automakers use it in vehicles owing to its low cost. The well-known companies profiled in the report include Honda Motor Co. Ltd., Brammo, Inc., AllCell Technologies, LLC, Mahindra GenZe, Terra Motors Corporation, Yamaha Motor Company Limited, Suzuki Motor Corporation, KTM AG, Peugeot Scooters, Jiangsu Xinri E-Vehicle Co. Ltd., Green Energy Motors Corp., and BMW Motorrad International among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers. Browse Complete Report
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