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The scooters market size is estimated to grow at a CAGR of 8.84% between 2022 and 2027. The market size is forecast to increase by USD 15.04 billion. The growth of the market depends on several factors, including the increasing popularity of e-scooters-sharing services, urbanization and optimum alternative for traffic congestion, and the cost-effectiveness.
This scooters market report extensively covers market segmentation by type (normal scooter and electric scooter), end-user (private and commercial), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing popularity of e-scooters-sharing services is notably driving the market growth, although factors such as the lack of adequate infrastructure for e-scooters may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing popularity of e-scooters-sharing services is the key factor driving the growth of the global scooters market. The growing demand for e-scooters-sharing services can be attributed to the increasing traffic congestion and pollution in major cities such as Hotan and Delhi. Other reasons for using e-scooters sharing services are compact size, reasonable cost, convenience, easy navigation in heavily congested cities, no requirement for parking space, and suitable speed for intra-city trips. In urban cities, e-scooters are extensively used for trips ranging from 0.5 km to 4 km.
The operational challenges of e-scooters are fewer because shared trips are generally shorter in duration and distance when compared with trips taken through other vehicles, trains, buses, and cars. In addition, e-scooters have smaller batteries compared with other vehicles. These batteries can be easily changed, thus, making them a handy solution for shared rides. Such factors are expected to positively impact the growth of the global scooters market during the forecast period.
The development of high-performance e-scooters is the primary trend shaping the global scooters market growth. High-performance e-scooters have a motor power of 48 hp (35 kW) at 4,650 rpm. The powerful electric engine also guarantees immediate torque and a riding range of up to 99 miles or a top speed of 80 mph. The major driving factors for the growth of the high-performance electric two-wheeler market are the decline in battery prices, low operating and maintenance costs, subsidies and incentives offered by governments of different countries, and increasing awareness about the need to curb vehicular emissions.
Two-wheeler manufacturers have started investing in high-performance electric scooters. Below are a few initiatives motorcycle manufacturers are undertaking to develop high-performance electric scooters. For instance, in April 2023, Quantum Energy introduced an e-scooter for cargo deliveries. It offers characteristics like remote lock-unlock, high-performance motor, anti-theft alarm, USB charger, disc brakes, LCD, and load carrying. Such initiatives are expected to positively impact the growth of the global scooters market during the forecast period.
The lack of adequate infrastructure for e-scooters is a major challenge impeding the growth of the global scooters market. The global scooters market faces significant challenges due to a lack of infrastructure to accommodate the increasing number of scooters on the road. It becomes challenging for users to locate a place to park and charge their normal and e-scooters without designated parking spaces, leading to crowding on walkways and other public spaces.
Additionally, the lack of infrastructure may deter potential users from buying scooters because they may not have access to safe and dependable parking or charging facilities. The Scooter charging infrastructure must be improved to ensure continued growth and market success. If not provided, it could present a challenge for the changing market under consideration during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Scooters Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Hero MotoCorp Ltd.: The company offers scooters such as Pleasure plus XTEC, Maestro Edge 125, Destini 125 XTEC. Also, the company is involved in the development, design, manufacture, assembly and sale of vehicles, as well as the sale of related parts and accessories.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the normal scooter segment will be significant during the forecast period. Normal scooters, also called conventional or standard scooters, will continue to dominate the global market during the forecast period. These internal combustion-powered scooters are typically made for commuting within cities and short distances. Normal scooters continue to command a sizeable portion of the market despite the rising popularity of electric scooters because of their low cost and simplicity of use.
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The normal scooter segment was valued at USD 13.21 billion in 2017 and continue to grow by 2021. Normal scooter demand has steadily increased in recent the recent two decades. This growth is due to several factors, such as the increasing trend of urbanization, disposable income in developing countries, and the demand for affordable and efficient transportation. The global urban population has grown from 52% in 2022 to 56% in 2021, per the world bank. Normal scooters are also a common option in many developing countries because they are frequently preferred by customers who don't have extensive access to charging infrastructure or need to travel farther distances.
However, growing environmental concerns such as global warming, harmful emissions, and stricter emissions regulations are posing challenges to the growth of the normal scooter segment. This has caused a slow shift towards electric scooters. Normal scooters are still significantly contributing to the global scooters market. They are anticipated to have steady demand, which is expected to drive the growth of the market in focus during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The scooter market has grown significantly in the APAC region due to numerous government initiatives, industry players, and rising sales. Several regional governments have taken proactive measures to encourage using scooters as a sustainable form of transportation. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program was implemented by the Indian government to encourage the use of electric vehicles and scooters.
Market participants in APAC are also actively engaged in product innovation and growth strategies such as expansion and R&D to take advantage of the rising demand for scooters and to reduce the harmful emissions from vehicles into the air. As consumer preferences have changed, manufacturers, including Hero, Bajaj, and Honda, have launched electric scooters with cutting-edge features, enhanced functionality, and longer battery life. For instance, Hero launched its first-ever electric scooter, the Vida V1, in October 2022. Such factors will increase the market growth in this region during the forecast period.
The outbreak of COVID-19 negatively impacted the scooters market in APAC during 2020 and the first half of 2021. However, in 2021, government initiatives, including mass vaccination drives, resulted in the resumption of business operations of scooters and the removal of lockdown restrictions. Thus, reopening international boundaries for trading and resuming retail store operations recovered the demand for the scooters market in 2021 and 2022. Increased disposable income and changing consumer behavior will likely enhance the demand for scooters in APAC and drive the growth of the regional market in focus during the forecast period.
The scooters market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global scooters market as a part of the global automotive components and accessories market within the global auto components market. The global automotive components and accessories market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Scooters Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.84% |
Market growth 2023-2027 |
USD 15.04 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.45 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ANI Technologies Pvt. Ltd., Ather Energy Pvt. Ltd., Bajaj Auto Ltd., Bayerische Motoren Werke AG, Bird Global Inc., Gogoro Inc., Hero MotoCorp Ltd., Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., KWANG YANG MOTOR Co. Ltd., Mahindra and Mahindra Ltd., Niu Technologies, Piaggio and C. Spa, Sanyang Motor Co. Ltd., Stellantis NV, Suzuki Motor Corp., TORROT ELECTRIC EUROPA S.A., TVS Motor Co. Ltd., Volkswagen AG, and Yamaha Motor Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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