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).
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
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.
For Right Perspective & Competitive Insights on Electric Mobility Scooter Market, Request for a Sample
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 intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.