REPORT HIGHLIGHT
Electrical scooters market was valued at USD 18.9 billion by 2019, growing with 38.4% CAGR during the forecast period, 2020-2026.
Market Dynamics
Electrical scooters are vehicles that are function on electrical power only.These are fitted with rechargeable batteries that can be recharged using electrical sockets . This vehicle has been gaining popularity as it does not use traditional fuel sources that are a non-renwable energy resource and is becoming scarce in the environment. Goverments, countries and insititurions are opting for cleaner and energy efficient vehicles. These may be two or three tired vehicles. Infact goverments arounf the world are offering benefits and subsidy;s for those who are wish to opt for electrical scooters as opposed to the regular fuel based two wheelers. Infact, even the India Government has subsidy scheme for those who opt for electrical scooters.
Based on an article released on the Money control website (Feb 2019) stated that approximately Rs.7500 to Rs. 61 lac subsidy can be provided. Subsidies such as this and the demand for cleaner fuel efficient systems is a ket driver for the growth of this industry. These vehicles also have a positive benefit from a sustainability point of view. In terms of the market restraint, the fact that these electrical scooters may need to be charged frequently and the acccessiblity to an infrastructure network that will help in swift charging could be a cause for concern. Another concern associated with release of sulphur from these batteries and the risk associated with it could deter the shift towards the industry.
Product Takeaway
Based on the segments of electrical scooters , the classification is Retro, Standing/Self-Balancing and Folding. Of these, it has been observed that the Retro electrical scooter modelis the predominant segment within this category. These are ideal for short distance trips and quick charges. Because of its module, it is beneficial for those who wish to reduce their cost computation over smaller distance journey. However, there is an ever changing transition towards technoligcally advanced and lightweight vehicles while also providing the benefits of the electrical scooter is expected. This is the primary reason why the folding variant of electrical scooter is expected to witness a fast growth n the years to come.
Battery Takeaway
Based on the Battery the industry has been categorized into Sealed Lead Acid, NiMH and Li-Ion. Of these, the SLA batteries are the ones that are most commonly used through the years. They have been known to be very sturdy and durable therefore making it the ideal choice. However, the biggest drawback with these batteries is that they discharge fast, can be heavy and bulky and have problems regarding its discharge. The Li-Ion batteries are coming into demand due to their reduce in price, which thereby helps in reducing the overall cost of the bike manufacture.
Voltage Takeaway
Based on Voltage the industry has been categorized into 24V, 36V, 48V, and greater than 48V. Of these, the most popular catergoy is the 36V which is the usual preferred choice for electrical scooters that are available. 48V product segment is anticipated to grow with promising growth rate during the forecast period.
Regional Takeaway
With regards to the electrical scooter market, the Asian regions of China and Japan are the market leaders that dominate this industry. An article published in 'The Conversation', Oct 2019, stated that fro the 40 million in sales in electrical scooters, approx. 90% of the market was skewed towards China. It also divulged information on an Indian programme called FAME that aimed at incentivising abot 86 different models of electrical scooters. North Americal is also estimated to continue to grow exponentially owing to an already existing infratsutcuture than encourages the electrical scooter set up.
Key Vendor Takeaway
Some of the key playes in the smart electrical scooter market are Gogoro Inc.; Mahindra GenZe; Jiangsu Xinri Electric Vehicle Co. Ltd. ,BMW Motorrad International; Vmoto Limited and Terra Motors Corporation. A Zigwheels article, Feb 2020, Mahindra is planning to launch a variant called e-Ludix which is a type of electrical scooter. This scooter is expected to be highly affordable and a basic variant that can be used across classes, as Mahindra has created a name for themselves in creating a niche for themselves in the affordable vehicles segment
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2015 to 2018
Base Year - 2019
Estimated Year - 2020
Projected Year - 2026
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
KEY PLAYERS
Gogoro Inc.
Mahindra GenZe
Yadea
Jiangsu Xinri Electric Vehicle Co. Ltd.
BMW Motorrad International
Vmoto Limited
Terra Motors Corporation
MARKET BY PRODUCT
Folding
Retro
Standing/Self-Balancing
MARKET, BY BATTERY TYPE
Sealed Lead Acid
Li-Ion
NiMH
MARKET, BY TECHNOLOGY
Battery
Plug-In
MARKET, BY VOLTAGE
24V
36V
48V
Greater than 48V
MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA
TABLE OF CONTENT
1. ELECTRICAL SCOOTERS MARKET OVERVIEW
- 1.1. Study Scope
- 1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
- 2.1. Market Snippet
- 2.1.1. Market Snippet by Product
- 2.1.2. Market Snippet by Battery Type
- 2.1.3. Market Snippet by Technology
- 2.1.4. Market Snippet by Voltage Type
- 2.1.5. Market Snippet by Region
- 2.2. Competitive Insights
3. ELECTRICAL SCOOTERS KEY MARKET TRENDS
- 3.1. Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Future Trends
4. ELECTRICAL SCOOTERS INDUSTRY STUDY
- 4.1. Porter's Five Forces Analysis
- 4.2. Marketing Strategy Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. ELECTRICAL SCOOTERS MARKET LANDSCAPE
- 5.1. Market Share Analysis
- 5.2. Key Innovators
- 5.3. Breakdown Data, by Key manufacturer
- 5.3.1. Established Player Analysis
- 5.3.2. Emerging Player Analysis
6. ELECTRICAL SCOOTERS MARKET - BY PRODUCT
- 6.1. Overview
- 6.1.1. Segment Share Analysis, By Product, 2019 & 2026 (%)
- 6.2. Folding
- 6.2.1. Overview
- 6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 6.3. Retro
- 6.3.1. Overview
- 6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 6.4. Standing/Self-Balancing
- 6.4.1. Overview
- 6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 6.5. Others
- 6.5.1. Overview
- 6.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
7. ELECTRICAL SCOOTERS MARKET - BY BATTERY TYPE
- 7.1. Overview
- 7.1.1. Segment Share Analysis, By Battery Type, 2019 & 2026 (%)
- 7.2. Sealed Lead Acid
- 7.2.1. Overview
- 7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 7.3. Li-Ion
- 7.3.1. Overview
- 7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 7.4. NiMH
- 7.4.1. Overview
- 7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
8. ELECTRICAL SCOOTERS MARKET - BY TECHNOLOGY
- 8.1. Overview
- 8.1.1. Segment Share Analysis, By Technology, 2019 & 2026 (%)
- 8.2. Battery
- 8.2.1. Overview
- 8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 8.3. Plug-In
- 8.3.1. Overview
- 8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
9. ELECTRICAL SCOOTERS MARKET - BY VOLTAGE TYPE
- 9.1. Overview
- 9.1.1. Segment Share Analysis, By Voltage Type, 2019 & 2026 (%)
- 9.2. 24V
- 9.2.1. Overview
- 9.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 9.3. 36V
- 9.3.1. Overview
- 9.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 9.4. 48V
- 9.4.1. Overview
- 9.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 9.5. Greater than 48V
- 9.5.1. Overview
- 9.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
10. ELECTRICAL SCOOTERS MARKET- BY GEOGRAPHY
- 10.1. Introduction
- 10.1.1. Segment Share Analysis, By Region, 2019 & 2026 (%)
- 10.2. North America
- 10.2.1. Overview
- 10.2.2. Key Manufacturers in North America
- 10.2.3. North America Market Size and Forecast, By Country, 2015 - 2026 (US$ Million)
- 10.2.4. North America Market Size and Forecast, By Product, 2015 - 2026 (US$ Million)
- 10.2.5. North America Market Size and Forecast, By Battery Type, 2015 - 2026 (US$ Million)
- 10.2.6. North America Market Size and Forecast, By Technology, 2015 - 2026 (US$ Million)
- 10.2.7. North America Market Size and Forecast, By Voltage, 2015 - 2026 (US$ Million)
- 10.2.8. U.S.
- 10.2.8.1. Overview
- 10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.2.9. Canada
- 10.2.9.1. Overview
- 10.2.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.3. Europe
- 10.3.1. Overview
- 10.3.2. Key Manufacturers in Europe
- 10.3.3. Europe Market Size and Forecast, By Country, 2015 - 2026 (US$ Million)
- 10.3.4. Europe Market Size and Forecast, By Product, 2015 - 2026 (US$ Million)
- 10.3.5. Europe Market Size and Forecast, By Battery Type, 2015 - 2026 (US$ Million)
- 10.3.6. Europe Market Size and Forecast, By Technology, 2015 - 2026 (US$ Million)
- 10.3.7. Europe Market Size and Forecast, By Voltage, 2015 - 2026 (US$ Million)
- 10.3.8. Germany
- 10.3.8.1. Overview
- 10.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.3.9. Italy
- 10.3.9.1. Overview
- 10.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.3.10. United Kingdom
- 10.3.10.1. Overview
- 10.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.3.11. France
- 10.3.11.1. Overview
- 10.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.3.12. Rest of Europe
- 10.3.12.1. Overview
- 10.3.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.4. Asia Pacific (APAC)
- 10.4.1. Overview
- 10.4.2. Key Manufacturers in Asia Pacific
- 10.4.3. Asia Pacific Market Size and Forecast, By Country, 2015 - 2026 (US$ Million)
- 10.4.4. Asia Pacific Market Size and Forecast, By Product, 2015 - 2026 (US$ Million)
- 10.4.5. Asia Pacific Market Size and Forecast, By Battery Type, 2015 - 2026 (US$ Million)
- 10.4.6. Asia Pacific Market Size and Forecast, By Technology, 2015 - 2026 (US$ Million)
- 10.4.7. Asia Pacific Market Size and Forecast, By Voltage, 2015 - 2026 (US$ Million)
- 10.4.8. India
- 10.4.8.1. Overview
- 10.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.4.9. China
- 10.4.9.1. Overview
- 10.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.4.10. Japan
- 10.4.10.1. Overview
- 10.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.4.11. South Korea
- 10.4.11.1. Overview
- 10.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.4.12. Rest of APAC
- 10.4.12.1. Overview
- 10.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.5. Latin America
- 10.5.1. Overview
- 10.5.2. Key Manufacturers in Latin America
- 10.5.3. Latin America Market Size and Forecast, By Country, 2015 - 2026 (US$ Million)
- 10.5.4. Latin America Market Size and Forecast, By Product, 2015 - 2026 (US$ Million)
- 10.5.5. Latin America Market Size and Forecast, By Battery Type, 2015 - 2026 (US$ Million)
- 10.5.6. Latin America Market Size and Forecast, By Technology, 2015 - 2026 (US$ Million)
- 10.5.7. Latin America Market Size and Forecast, By Voltage, 2015 - 2026 (US$ Million)
- 10.5.8. Brazil
- 10.5.8.1. Overview
- 10.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.5.9. Mexico
- 10.5.9.1. Overview
- 10.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.5.10. Argentina
- 10.5.10.1. Overview
- 10.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.5.11. Rest of LATAM
- 10.5.11.1. Overview
- 10.5.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.6. Middle East and Africa
- 10.6.1. Overview
- 10.6.2. Key Manufacturers in Middle East and Africa
- 10.6.3. Middle East and Africa Market Size and Forecast, By Country, 2015 - 2026 (US$ Million)
- 10.6.4. Middle East and Africa Market Size and Forecast, By Product, 2015 - 2026 (US$ Million)
- 10.6.5. Middle East and Africa Market Size and Forecast, By Battery Type, 2015 - 2026 (US$ Million)
- 10.6.6. Middle East and Africa Market Size and Forecast, By Technology, 2015 - 2026 (US$ Million)
- 10.6.7. Middle East and Africa Market Size and Forecast, By Voltage, 2015 - 2026 (US$ Million)
- 10.6.8. Saudi Arabia
- 10.6.8.1. Overview
- 10.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
- 10.6.9. United Arab Emirates
- 10.6.9.1. Overview
- 10.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2015 - 2026, (US$ Million)
11. KEY VENDOR ANALYSIS
- 11.1. Gogoro Inc.
- 11.1.1. Company Snapshot
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Strategic Initiatives
- 11.2. Mahindra GenZe
- 11.3. Yadea
- 11.4. Jiangsu Xinri Electric Vehicle Co. Ltd.
- 11.5. BMW Motorrad International
- 11.6. Vmoto Limited
- 11.7. Terra Motors Corporation
12. 360 DEGREE ANALYSTVIEW
13. APPENDIX
- 13.1. Research Methodology
- 13.2. References
- 13.3. Abbreviations
- 13.4. Disclaimer
- 13.5. Contact Us
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