About Electric Balance Car
An electric balanced car is transportation vehicles which allow the user to easily and safely move around spaces, both indoors as well as outdoors. There are a number of benefits to the electric balanced car such as electricity is cheaper than gasoline, better for the environment, no carbon emission, cheaper to maintain, safety improvements, among others. Increasing demand for electric vehicles in both developed and developing countries are likely to be the prime driver for market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The electric balance car market is highly fragmented with the presence of larger and local players in the market. Various players are operating in the market such as Xiaomi Corporation (China), PrestigeElectricCar (Spain), Swagtron (United States), among others. Analyst at AMA Research estimates that United States and China Vendors will contribute the maximum growth to Global Electric Balance Car market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Xiaomi Corporation (China), PrestigeElectricCar (Spain), Swagtron (United States), Epikgo (United States), Razor (United States), Inmotion Technologies Co.,Ltd. (China), Robstep (Spain) and MaxWHELL Technologies Co., Ltd (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Meiqu (China), Airwheel Technology Holding CO., LTD. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Electric Balance Car market by , Application (Outdoor Rides and Indoor Rides) and Region.
On the basis of geography, the market of Electric Balance Car has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Max.Speed, the sub-segment i.e. 0-10 Km/H will boost the Electric Balance Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Max Capacity, the sub-segment i.e. 0-250Kg will boost the Electric Balance Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power, the sub-segment i.e. 201-500 Watt will boost the Electric Balance Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Improvement in Electric Vehicles Research and Development & Battery Technology
Market Growth Drivers:
Increasing Demand for Electric Vehicles and Increasing Production and Sales of Automobiles and Affordability as well as Low Maintenance of the Vehicle
Challenges:
Issue related to Electric Balanced cars are Limited as to the Distance and Lack of Proper Charging Infrastructure as well as High Cost Associated with Electric Vehicle
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Growing Demand from Emerging Market such as China, India, Brazil, among others
Market Leaders and their expansionary development strategies
In January 2024, New launches and increasing adoption may fuel the electric vehicle sector in the new year, executives of top auto companies told the Times of India. Despite dereath of charging infrastructure and models, EV sales grew rapidly in the past few years.
According to the Government of New Zealand, “Electric vehicles (EVs) have to meet the same regulations as any other vehicle, although they are exempt from Road User Charges (RUC) until 2020”. Therefore, it may acts hamper for market growth.
Key Target Audience
Electric Balance Car Manufactures Company, Regulatory Bodies, Component Suppliers, Distributors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.