Folding Electric Scooter Market Expected to Grow by US$

NEWARK, Del, July 13 2022 (GLOBE NEWSWIRE) — The folding electric scooter market is expected to grow at a CAGR of 2.6%, from USD 626.8 million in 2022 to USD 806.3 million through 2032.

The COVID-19 pandemic has impacted the broader automotive industry, resulting in a subsequent decline in the growth of the folding electric scooter market. However, strict emission rules from government agencies such as greenhouse gas (GHG) emission standards are propelling the market share of folding electric scooters.

Increasing monetary and non-monetary incentives are helping the adoption of folding electric scooters. The recent trend in the folding electric scooter market is the demand for sustainable urban mobility and contemporary transportation infrastructure, which is pushing the transition from traditional forms of transportation to electronic forms of transportation. Folding electric scooters are expected to have a positive influence on energy security and air quality.

Cities around the world are gearing up for a new era of urban mobility centered on the concept of using sustainable transport vehicles across the city to minimize traffic congestion and pollution for a clean and fresh environment, driving demand increase in folding electric scooters.

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Compared to the number of electric vehicles in circulation today, the number of electric charging stations seems insufficient. Range concerns are hampering the sales potential of folding electric scooters.

Governments around the world have come up with measures to encourage the adoption of folding electric scooters by offering financial incentives to riders and riders. Research and development programs are another major aspect driving the growth of the folding electric scooter market.

Key points to remember:

  • The folding electric scooter market is expected to grow at a CAGR of 2.6% through 2032 due to consumer awareness and environmental concerns.
  • In the United States, the folding electric scooter The market is estimated to have a CAGR of 10.8% through 2032.
  • The folding electric scooter market in China is expected to have a staggering CAGR of 23.6% through 2032.
  • The folding electric scooter market in Japan is expected to have a steady CAGR of 16% through 2032.
  • The market of folding electric scooter in Japan is expected to be valued at $806.3 million by 2032.

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Competitive Landscape:

The main key players in the folding electric scooter market are Xiaomi Corporation, Pride Mobility Products Corp., Segway, Megawheel, GOTRAX, Shenzhen Iezway Technology, Spacepac Industries Pty Ltd, Turboant, E-Twow, Hiboy, INOKIM, Glion, Razor, Mercane Wheels, XOOTR and EcoReco.

To extend their influence in the Folding Electric Scooter Market Trendsthese vendors have used a variety of organic and inorganic growth tactics.

RECENT DEVELOPMENT:

“Partnerships, collaborations and agreements remain the key strategies.”

  • NIU introduced two new scooters for the European market in January 2020: the NQi GT and the MQi Plus. The unveiling was done in conjunction with NIU’s Urban Mobility Summit in New York.
  • Singapore’s EuroSports Technologies (EST) signed a memorandum of understanding with Strides Transportation in April 2021 to develop, market and distribute smart electric motorcycles.
  • BattRE Electric Mobility launched an IoT e-scooter in 2020 which includes navigation, riding data, remote diagnostics, anti-theft alarm, speedometer call warnings and riding behavior tips.

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Key segments

By type:

  • unicycle
  • Two wheels
  • three wheels

By load variation:

  • Less than 40 kg
  • 40 to 80kg
  • 80 to 100kg
  • Above 100kg

By battery type:

  • sealed lead
  • acid battery
  • Lithium ion battery
  • Others

By voltage:

By distribution channel:

By age:

  • Under 20
  • 20 to 30 years old
  • Over 30 years

By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

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Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Product Innovation / Development Trends

4. Key success factors

4.1. Product Adoption / Usage Analysis

4.2. USP/Product Features

4.3. Strategic promotional strategies

Check out IMF’s extensive coverage at Automotive Domain

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Hybrid Electric Scooter Market Share: The hybrid electric scooter market is expected to grow at a moderate CAGR of 3.9% during the forecast period from 2022 to 2032.

Used Electric Scooter Market Growth: The used electric scooter market is likely to expand its roots in the global market with a high CAGR of 3.2% between 2022 and 2032.

Waterproof Electric Scooter Market Trend: The waterproof electric scooter market grew at a CAGR of 1.7%. However, strong demand drivers are likely to boost sales of waterproof electric scooters. As a result, the demand for waterproof electric scooters is expected to contribute to a market share of US$5.1 billion by the end of 2022.

E-Bike Accessories Market Forecast – Manufacturing of new units as well as repair and replacement of existing vehicles is expected to primarily drive the e-bike accessories market

Self-balancing scooter market – Self-balancing scooters or Hoverboard use a gyroscope to determine the balance of the board, the motors maintain the speed according to the inclination of the person riding it. These scooters are designed to have a futuristic look and an alternative to walking

Electric Scooter Market Demand – Driven by favorable growth opportunities, Future Market Insights (IMF) forecasts the market to register a robust CAGR of 9% in 2021-2031

Electric Scooter Market Trends – Electric scooter sales will nearly triple between 2021 and 2031, reaching US$6.5 billion in 2031 at a ten-year compound annual growth rate (CAGR) of 11.5%

Two-wheeled lead-acid battery market outlook: The global two-wheeled lead-acid battery market is expected to reach a valuation of US$4.9 billion in 2022. The expansion of the automotive sector across the globe is expected to boost sales at a CAGR of 5.8%. In this context, the market valuation is expected to reach US$7.3 billion by 2029.

X-by-Wire Market Analysis: Future Market Insights (IMF) forecasted growth of the global X-by-wire market with a growth in value of 13.9% in 2022 to reach a value of around 39 billion USD. US dollars by 2022 end.

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