Rising environmental concerns and increasing government initiatives towards fuel saving technologies to boost Europe electric scooters market through 2024
According to TechSci Research report, “Europe Electric Scooters Market By Battery Type, By Battery Capacity, By Range, By Voltage, By Region, Competition, Forecast & Opportunities, 2024” Europe electric scooters market is projected to register a CAGR of close to 27% during the forecast period owing to the increasing fuel prices. It is expected that world would be left with over 50 years of oil if it is consumed in same trend. Therefore, the growing economies are shifting their focus towards alternative energy sources, thus driving the growth of the market. Moreover, factors like increasing urbanization, rising levels of pollution, global warming, depletion of fossil fuels, rising cost of fuels, among others are further anticipated to drive Europe electric scooters market. Additionally, features such as eco-friendly, fuel-efficient, easy to handle, compact size, and noise efficient compared to conventional scooters are further fueling the demand for electric scooters in the region. However, Europe electric scooters market is likely to get subdued due to range and performance constraints associated with electric scooters as they serve the limited purpose of short distance commuting only.
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Europe electric scooters market is segmented based on battery type, battery capacity, range, voltage,
region and company. In terms of battery type, the market can be
categorized into lead acid and lithium-ion, of which the latter is expected to dominate
the market through 2024 owing to its excellent thermal stability, long
lifespan, and faster charging time. Based on voltage, the market can be
segmented into 48 V, 60 V, 72 V, 100 V and >100 V. Among all of these,
electric scooters with a 60 V battery dominated the market with over 40% share
in 2018 and is expected to maintain its position owing to the surging demand
for high-speed vehicles with improved aesthetics and durable body.
GOVECS AG, Gogoro Inc.,
TORROT ELECTRIC EUROPA S.A., Kwang Yang Motor Co. Ltd., Alta Motors, BMW AG,
Niu Technologies, Askoll EVA SpA, Zero Motorcycles Inc. and Lightning Motors
Corp and others are some of the leading players operating in Europe electric
scooters market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share and increase their customer base.
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scooters market is anticipated to be one of the most dynamic and fastest
growing markets in the coming years owing to growing support of the governments
for the use of electric scooters along with enactment of stringent emission
norms. Moreover, declining battery price is further expected to spur the growth
of the market through 2024. Additionally, technological
advancements and establishment of new government regulations would further
steer growth in Europe electric scooters market.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
“Europe Electric Scooters Market By Battery Type, By Battery Capacity, By Range, By Voltage, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Europe electric scooters market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe electric scooters market.