Electric Mobility Scooter Market: Introduction
- Global restrictions on vehicle fuel consumption and emissions, enacted by various regulatory authorities, are prompting automakers to develop vehicles to run on electricity. Electric scooters are emission-free and have low operation cost as compared to traditional scooters that run on gasoline. This, in turn, is driving the global electric mobility scooter market.
Key Drivers of Electric Mobility Scooter Market
- Increasing trend toward vehicle electrification coupled with a rise in the rate of adoption of electric propulsion systems in vehicle manufacturing by automakers is expected to drive the global electric mobility scooter market
- Various government organizations and authorities are enacting stringent regulations on the use of IC-engine in order to reduce vehicle emissions and curb climate change. Furthermore, various governments are offering subsidiaries on electric vehicles and electric mobility scooters in order to spread awareness about green vehicles, which in turn reduces the cost of ownership of scooters.
- For instance, the Government of India announced a plan to provide subsidies for hybrid and electric vehicles. The plan is expected to offer subsidies up to Rs 150,000 (Approximately US$2,200) for cars and Rs 50,000 on two wheelers. Moreover, in 2019, the Government of India announced income tax benefits to buyers of electric vehicles; and provided incentives for manufacturing of components and development of manufacturing hubs for electric vehicles and components locally (in India).
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Electric Mobility Scooter Market: Restraint
- Electric scooters have low cost of operation, are silent, and are considered to be green vehicles. Moreover, electric scooters have a simple design, easy to manufacture, and can save energy through the application of regenerative braking systems. All these factors are expected to propel the global electric mobility scooter market.
- Demand for electricity is rising owing to an increase in use of electricity-based products including automobiles, home appliances, smartphones, and smart televisions, which require constants supply of electricity. This, in turn, is expected to boost the cost of electricity during the forecast period and consequently, hamper the global electric mobility scooter market.
North America to dominate Electric Mobility Scooter Market
- In terms of region, the global electric mobility scooter market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- North America dominated the global market, due to government policies and high demand for mobility scooters. Moreover, baby boomer effect, sophisticated reimbursement policies, and high awareness about electric mobility are other factors boosting the market in North America. Europe, followed North America, and is expected to account for a notable share of the global mobility scooters market due to an increase in awareness about electric mobility coupled with a rise in disposable income.
- However, disruptions in supply chain catering to the automobile industry, owing to shutdown of production and manufacturing facilities and raw material shortage caused by the coronavirus pandemic across the world, is estimated to contract the market in 2020. Consequently, the coronavirus pandemic has hampered the global electric mobility scooter market. The market is anticipated to recover by increasing production volume of vehicle components as well as vehicle production in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the electric mobility scooter market during the forecast period.
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Key Players Operating in Electric Mobility Scooter Market
The global electric mobility scooter market is highly concentrated due to the presence of top manufacturers. A few key players operating in the electric mobility scooter market are:
- Afikim Electric Vehicles
- Amigo Mobility International Inc.
- Drive Medical Design and Manufacturing
- Electric Mobility
- Energica Motor
- EV Rider
- Golden Technologies Inc.
- Hoveround Corp.
- Pride Mobility Products
- Sunrise Medical
- UK Mobility
- Van Os Medical
Global Electric Mobility Scooter Market: Research Scope
Global Electric Mobility Scooter Market, by Product Design
- Boot Scooters
- Mid-sized Scooters
- On-road Scooters
Global Electric Mobility Scooter Market, by Battery Type
Global Electric Mobility Scooter Market, Number of Wheels
- 2 Wheeler
- 3 Wheeler
- 4 Wheeler
- 5 Wheeler
Global Electric Mobility Scooter Market, by Application
Global Electric Mobility Scooter Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.