July 13, 2022 09:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, July 13, 2022 (GLOBE NEWSWIRE) -- The folding e-scooter market is expected to escalate 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 drop in growth of the folding e-scooter market. However, government agencies' strict emission rules, like emission standards for greenhouse gas (GHG) emissions, are propelling the folding e-scooter market share.
Increasing monetary and non-monetary incentives are assisting in the adoption of folding e-scooters. The recent folding e-scooter market trend is the demand for sustainable urban mobility and contemporary transportation infrastructure, which is pushing the transition from traditional to electronic forms of transportation. Folding e-scooters are projected to have a positive influence on energy security and air quality.
Cities all over the world are preparing for a new era of urban mobility centered on the concept of using sustainable transportation vehicles across the city to minimize traffic congestion and pollution for a clean and fresh environment, resulting in increased demand for folding e-scooters.
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Compared to the number of electric vehicles on the road today, the number of electric charging stations appears to be insufficient. Concerns regarding range are hampering the sales potential of folding e-scooters.
Governments all over the world have devised measures to encourage the adoption of folding e-scooters by providing financial incentives to both riders and chevaliers. Another major growth aspect of the folding e-scooter market is research and development programs.
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Major key players in the folding e-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 e-scooter market trends, these vendors have used a variety of organic and inorganic growth tactics.
“Partnerships, Collaborations, and Agreements Remain the Key Strategies.”
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3.1. Key Trends Impacting the Market
Explore FMI’s Extensive Coverage on Automotive Domain
Off Road All Terrain e-scooter Market Demand - The off road all terrain e-scooter market share is predicted to witness a fair CAGR of 4.8% during the forecast period
Hybrid E-Scooter Market Share: The hybrid e-scooter market is predicted to grow at a moderate CAGR of 3.9% during the forecast period of 2022 to 2032.
Used E-Scooter Market Growth: The used E-Scooter market is likely to expand its roots in the global market at a strong CAGR of 3.2% between 2022 and 2032.
Water Proof E-Scooter Market Trend: The water proof e-scooter market grew at a CAGR of 1.7%. However, strong demand drivers are likely to promote the sales of water proof e-scooter. As a result, the demand for water proof e-scooter is predicted to contribute to the market share worth US$ 5.1 Bn by the end of 2022.
E-Bike Accessories Market Forecast - The fabrication of new units as well as repair and replacement of existing vehicles is primarily expected to drive the E-Bike accessories market
Self-Balancing Scooter Market - Self-balancing scooters or Hoverboard use gyroscope to determine balance of board, motors keep speed according to the inclination of the person riding it. These scooters are designed to look futuristic and an alternative to walking
Electric Scooters Market Demand - Driven by favorable growth opportunities, Future Market Insights (FMI) has forecast the market to register a robust 9% CAGR during 2021-2031
Electric Kick Scooter Market Trends - Electric kick 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 Wheeler Lead Acid Batteries Market Outlook: The global two wheeler lead acid batteries market is forecast to reach a valuation of US$ 4.9 Bn in 2022. Expansion of the automotive sector across the globe is expected to boost sales at a 5.8% CAGR. Against this backdrop, the market valuation is projected to reach US$ 7.3 Bn by 2029.
X-by-Wire Market Analysis: Future Market Insights (FMI) has projected the global X-by-wire market to grow with year-on-year value growth of 13.9% in 2022 reaching a value of about US$ 39 Bn by 2022 end.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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