Luxury Electric Scooters- Market Scope
Luxury Electric scooters are battery- or plug-in-powered vehicles that can be recharged by an outside power source. One or more electric motors can be powered by electricity stored on board in a rechargeable battery in order to move the vehicle. While maintaining performance, e-scooters are less expensive to operate than traditional ICE vehicles. Due to their straightforward design features and low maintenance requirements, these cars also contribute to cost savings in the areas of fuel, spark plug replacement, and oil filter replacement.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Energica Motor Company S.p.A. (Italy), Hero Electric Vehicles Pvt. Ltd. (India), Ducati (Italy), Honda Motor Company (Japan), Jiangsu Bravo New Energy Co., Ltd. (China), BMW AG (Germany), Mahindra GenZe (India), Veleco (Poland) and Emflux Motors (India) |
CAGR | % |
The market for Luxury Electric Scooters is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Luxury Electric Scooters- market throughout the predicted period.
Energica Motor Company S.p.A. (Italy), Hero Electric Vehicles Pvt. Ltd. (India), Ducati (Italy), Honda Motor Company (Japan), Jiangsu Bravo New Energy Co., Ltd. (China), BMW AG (Germany), Mahindra GenZe (India), Veleco (Poland) and Emflux Motors (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are GOVECS Group (Germany), AIMA TECHNOLOGY GROUP CO., LTD. (China) and TAILG (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Luxury Electric Scooters- market by Type and Region with country level break-up.
On the basis of geography, the market of Luxury Electric Scooters- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2023,US company Bird Global has bought the e-scooter and e-bike rental company Spin for 19 million dollars. Spin previously belonged to Berlin-based micro-mobility provider Tier Mobility. The latter had taken over the sharing operator formerly belonging to Ford in 2022. Now Spin belongs to Bird Rides. According to Bird, the purchase makes it the largest micromobility operator in North America.
In June 2022, One of the well-known two-wheeler companies, Hero MotoCorp, is about to enter the Indian EV industry. All of the company's electric two-wheelers will be offered under the new sub-brand Vida, which has already been introduced. The company confirmed at Vida's official announcement that its first electric two-wheeler will go on sale on July 1, 2022.
According to the founder of e-scooter retail giant Pure Electric, legalising electric scooters will encourage users to obey traffic laws and reduce incidences of disruptive behaviour. Some advocacy groups have criticised the UK government's intentions to completely legalise private e-scooter use on public roads, citing instances of the vehicles being driven at high speeds on sidewalks. However, according to Adam Norris, that type of behaviour is not typical of the people who would purchase the machines if they were made legal.
Influencing Trend:
Increasing Scope For Electric Scooters Through Online Markets
Market Growth Drivers:
Eco-Friendly Alternative With Increasing Pressure To Reduce The Carbon Footprint Across The Glob and Growth In Vehicle Charging Infrastructure In Emerging Countries
Challenges:
Lack Of Charging Stations In Developing Countries and Intense Competition Among Players
Restraints:
Strict Government Regulations Regarding Electric Vehicle
Opportunities:
Increasing Demand From Emerging Economies, Growing Adoption For Electric Scooters Sharing Service and Growing Environmental Concern Over Vehicle Emission
Key Target Audience
New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others