Electric Scooters Market Size Surpass Around US$ 33.5 Bn by 2030
The Electric Scooters Market size is expected to surpass around US$ 33.5 billion by 2030 and is anticipated to grow at a CAGR of 8.1% from 2021 to 2030.
Ottawa, Sept. 15, 2021 (GLOBE NEWSWIRE) — The global electric scooters (E-Scooters) market size was valued at US$ 18.5 billion in 2020. Electric scooter is a device that weighs less than one hundred pounds and consists of handlebars that is powered by an electric motor. The e-scooter has a maximum speed of twenty miles per hour. The device is gaining significant popularity in the developing markets owing to low cost and high usability while traveling short distance. Further, middle-class population prefers such vehicles in order to adopt an environment-friendly mode of commutation in lower cost compared to other electric mobility solutions.
Growth Factors
Increasing rate of deterioration of old form of energy that include coal, petroleum, and natural gas have prominently propelled the era of electrically charged alternatives. Further, increasing necessity for eco-friendly vehicles because of alarming rise in the carbon footprint and ozone layer depletion are some of the major factors that drive the global market for electric scooters.
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1271
Moreover, increasing adoption of sharing services for electric scooters in countries such as USA, Spain, France, and Germany are likely to again spur the adoption rate of electric scooters in the near future. Various companies procure electric scooters from their manufacturers to offer e-scooter sharing services such as Lime, Razor, Bird, Spin, and Jump procure e-scooters from Gogoro,Xiaomi, and Ninebot-Segway to offer such services across USA and other countries. As the penetration of ride sharing services is rising exponentially, this in turn prospers the market growth for electric scooters over the upcoming period.
Increasing non-monetary and monetary incentives encourage the adoption of battery-powered two-wheelers. Furthermore, the need for modern transportation infrastructure along with sustainable urban mobility drives the switch from conventional to electric alternatives of transport. E-scooters are predicted to have a significant positive influence on air quality and energy security.
Governments across the world have formulated various policies to spur the penetration of e-scooters by offering different benefits to the consumers along with the manufacturers in form of subsidies and tax benefits. The global market for electric scooters is also supported by the research &development initiatives. For instance, the Corporate Average Fuel Economy (CAFÉ) standards in the USA estimated to rise the adoption rate of energy-efficient vehicles by framing regulations to enhance the demand for alternative fuel powered vehicles as well as reduce the consumption of fossil fuel.
Read More: Electric Scooters Market Size Surpass Around US$ 33.5 Bn by 2030