Electric Scooter Market Size to Reach USD 7384.9 Million by 2028 at CAGR 4.4% - Valuates Reports
Major Factors Driving The Growth Of The Electric Scooter Market Are:
Rising demand for fuel-efficient automobiles, combined with rising concerns about greenhouse gas and carbon emissions, is expected to increase the adoption of the electric scooters market.
Electric scooters are becoming more popular among the young population, and increased spending power of the middle class in developing nations, as well as rapid urbanization, are predicted to fuel the electric scooter market growth.
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Trends Influencing The Growth Of Electric Scooter Market;
The electric scooter market is expected to rise due to the rising usage of electric motorbikes and e-bikes for short commutes, rising environmental concerns, and increased investments by ride-hailing businesses in the micro-mobility arena. OEMs' increased efforts to produce lightweight bikes, as well as the growing trend toward connected e-Bikes, offer considerable potential opportunities for industry competitors.
The rising expense of petroleum is one of the most fundamental elements pushing the electric scooter market. The rising cost of gasoline is already affecting consumers in emerging markets. Electric two-wheelers will significantly lower the running costs of these vehicles. These two-wheelers are more fuel-efficient than standard motorcycles. e-scooter and motorbikes with a longer range than the present generation of electric two-wheelers are expected to be developed by manufacturers.
Governments all around the world have enacted measures to boost the adoption of electric scooters by providing subsidies to both customers and producers. Support in the form of R&D activities is also a significant growth component. Thus the favorable government policies are expected to drive the electric scooter market growth.
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Electric Scooter Market Share Analysis:
Based on region, North America is expected to be the most lucrative region. This is due to the increased adoption of electric scooters among end consumers.
Based on application, The retro segment is expected to be the most lucrative segment. This is due to the shift toward green vehicles for commuting over short distances.
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Major Players in the Electric Scooters Market
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