Industry Background:
A mobility scooter is a type of electric scooter (operated with the help of batteries) that has a posture like wheelchair and it is designed to work corresponding to motor scooter. Mobility scooter has 3 wheels to 5 wheels and also suitable for long distance travelling as it offers comfort, ease of use and elegance. Gasoline-powered scooters are rapidly replaced by electric or battery-powered scooters. Mobility scooters acts as an alternative to wheelchairs thereby providing chance of travelling for the patients, geriatric people and others with knee or spine disabilities. Government is taking initiative and offering different schemes to support the use of mobility scooters are across the globe.
According to AMA Research, the market for Mobility Scooters is expected to register a CAGR of 8.56% during the forecast period to 2030. This growth is primarily driven by Increment in count of geriatric population
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Invacare Corporation (United States), Medline Industries, Inc. (United States), Dynatronics Corporation (United States), Drive DeVilbiss Healthcare (United States), Changzhou Qian Jing Rehabilitation Co., Ltd. (China), Carex Health Brands (United States), Roma Medical (United Kingdom), Caremax Rehabilitation Equipment Co. Ltd. (China), GF Health Products, Inc. (United States) and Hospital Equipment Manufacturing Company (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2022, Hero Electric and Mahindra & Mahindra announced a strategic partnership in electric mobility. As part of the partnership, Mahindra Group will manufacture Hero Electric’s most popular electric bikes – Optima & NYX at their Pitampur plant to meet the growing demands of the market.
In November 2023, Lohia Auto is planning the launch of high-speed electric scooters and new passenger-carrying three-wheelers, aiming to expand its dealer network.The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Influencing Trend:
Technological advancement to add on more features like foldability and Growing government initiative to support such products
Market Growth Drivers:
Increment in count of geriatric population and Increasing disorders related to knee and spine
Challenges:
Low awareness
Restraints:
Premium prices
Opportunities:
Growing adoption in emerging countries and Rising disposable income leads to inclination towards buying such products
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Mobility Scooters Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Mobility Scooters Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Mobility Scooters players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Mobility Scooters Study Sheds Light on
The Mobility Scooters Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Mobility Scooters industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Mobility Scooters industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.