Meticulous Research®, a prominent global market research firm, has published a detailed report titled “Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Kick Scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user, and Geography - Global Forecast to 2031.” This report outlines significant trends and forecasts for the electric scooter market, projecting it to reach a value of $408.1 billion by 2031, growing at a compound annual growth rate (CAGR) of 21.6% from 2024 to 2031.

>> Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5191?utm_source=article&utm_medium=Social&utm_campaign=Product&utm_content=04-10-2024

The surge in the electric scooter market is primarily driven by factors such as increased localization of manufacturing in emerging economies, heightened consumer acceptance of electric two-wheelers over traditional internal combustion engine (ICE) models, and a growing preference for electric vehicles in developed regions. However, the market faces challenges, including consumer reliability concerns stemming from accidents involving electric scooters and a lack of investment from legacy manufacturers in electric mobility solutions.

Government initiatives aimed at reducing traffic congestion and environmental pollution are expected to create additional growth opportunities. Conversely, the insufficient charging infrastructure presents a significant hurdle to market expansion.

>> Browse in Depth: https://www.meticulousresearch.com/product/electric-scooter-market-5191?utm_source=article&utm_medium=Social&utm_campaign=Product&utm_content=04-10-2024

Market Segmentation and Analysis

The report segments the electric scooter market into various categories for a nuanced analysis:
1. Vehicle Type: The market includes electric motorcycles, electric mopeds, and e-kick scooters & bikes. The e-kick scooters & bikes segment is projected to dominate in both value and volume in 2024, driven by increased awareness of sustainability, supportive government policies, and investments from key stakeholders.
2. Power Output: The market is classified into segments based on power output: less than 3.6 kW, 3.6 kW to 7.2 kW, and 20 kW to 100 kW. The segment for less than 3.6 kW is expected to hold the largest market share, attributed to the rising adoption of e-kick scooters for urban commuting and recreational activities, along with government initiatives promoting their use.
3. Battery Technology: This segment includes sealed lead-acid, lithium-ion, and lithium-ion polymer batteries. The lithium-ion battery segment is anticipated to capture the largest share in 2024, fueled by the growing popularity of electric and hybrid vehicles and the adoption of battery technology in renewable energy applications.
4. Motor Type: The market is divided into hub motors and mid-drive motors. Hub motors, which offer flexibility and stability, are expected to dominate the market due to government initiatives supporting electric vehicle adoption.
5. Charging Type: The charging segment includes connector charging and wireless charging, with connector charging anticipated to lead the market. This is driven by the development of standardized connectors ensuring compatibility and the demand for faster charging solutions.
6. End User: The end-user market comprises government institutions, academic institutions, businesses, micro-mobility service providers, and individuals. Business organizations are expected to account for the largest share, reflecting governmental efforts to encourage electric vehicle adoption.
7. Geography: The market is segmented into regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to command the largest market share in 2024, attributed to rising incomes, increasing fuel prices, and governmental initiatives promoting electric mobility.

Key Market Players
Prominent players in the electric scooter market include Fuji-Ta Bicycle Co., Ltd., Yamaha Motor Co., Ltd., Niu Technologies, and Hero MotoCorp Ltd., among others. These companies are pivotal in shaping the industry landscape through innovations and strategic investments aimed at meeting growing consumer demand for electric scooters.

>> Request for Customization Report: https://www.meticulousresearch.com/request-customization/cp_id=5191?utm_source=article&utm_medium=Social&utm_campaign=Product&utm_content=04-10-2024