[220 Pages] Mobility scooters market to reach $3.21 billion by 2030; Four wheelers to garner at 7.3% CAGR; Large (More than 150 cm) to rise at 8.4% CAGR.
PORTLAND, ORAGON, UNITED STATES, September 24, 2021 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Mobility Scooters Market by Type, Range, and Number of Wheels: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global mobility scooters market was valued at $1.72 billion in 2020, and is projected to reach $3.21 billion by 2030, registering a CAGR of 6.5%.
North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global mobility scooters market share in 2020. Mexico is expected to grow at a significant rate during the forecast period, owing to increase in demand for vehicles equipped with advanced features across the region.
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A mobility scooter is a mobility aid similar to a wheelchair but configured similar to a scooter. It is often referred to as a power-operated vehicle/scooter or electric scooter. Electrically driven scooters are a perfect mode of transport for people who do not want the expense of operating a gas driven vehicle or motorcycle. Electric mobility scooter is classified as a power-operated bicycle. Thus in most cases, a driver’s license is not required to ride the scooter nor does it have to be registered, plated, or insured. Usually, two types of mobility scooters available are front-wheel drive (FD) or rear-wheel drive (RD).
Numerous product developments and product launches are carried out by top manufacturers such as Afikim Electric Vehicles, Amigo Mobility International Inc., Drive Medical Design & Manufacturing, EV Rider LLC., Golden Technologies Inc., and others. Moreover, the introduction of electric propulsion technology has also created a positive impact on the growth of the market during the forecast period. In addition, the increased implementation of mobility scooters in different industries, such as cargo moving, city commuting, production facility commuting, and small distance touring, also supplements the growth of the market during the forecast period.
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The global mobility scooter market report has been segmented into type, range, number of wheels, and region. By type, the market is divided into small (less than 110 cm), medium (110-150 cm), and large (more than 150 cm). By range, it is classified into less than 10 miles, 10-20 miles, and more than 20 miles. By number of wheels, it is bifurcated into three wheeler and four wheeler. By region, the market has been studied across North America, Europe, Asia-Pacific, and LAMEA.
Factors, such as inclination toward the use of electric mobility scooters as an eco-friendly & efficient solution, increased percent of senior citizens, and rising awareness for advanced mobility devices, supplement the growth of the market across the globe. Moreover, factors, such as lack of standardization of EV charging and high cost of battery, hamper the growth of the market during the forecast period. However, growing R&D investments for enhanced battery technologies and greater availability of credit & financing options provide lucrative opportunities for the growth of the market during the forecast period.
KEY FINDINGS OF THE STUDY
By type, the large (more than 150 cm) segment is expected to register significant growth during the forecast period.
Depending on range, the less than 10 miles segment is anticipated to exhibit significant growth in the near future.
Asia-Pacific is anticipated to register the highest CAGR.
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COVID-19 IMPACT ANALYSIS
COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge.
On the business side, the automotive and mobility sectors are among the hardest hit. Following the pattern witnessed in countries where COVID-19 spread earlier, lockdown measures and other restrictions have limited travel and left many consumers unable or unwilling to purchase vehicles.
Rapid spread of the disease has led to a significant impact on the global automotive industry, with a downturn in demand for new and old vehicles.
Industry experts believe that post the pandemic, last-mile conveyance will shift toward personal mobility and the electric vehicle industry will register a suitable growth rate.
While lockdown measures and shelter-at-home orders are helping contain the coronavirus, they have also brought severe financial hardship. Amid a new reality of working from home, canceling trips, and even forgoing outings to restaurants and grocery stores, the mobility industry encompassing a range of lightweight vehicles, such as bicycles, e-scooters, and mopeds, is facing devastating declines in ridership and revenue.
The key players operating in the global mobility scooters market includes Afikim Electric Vehicles, Amigo Mobility International Inc., Drive Medical Design and Manufacturing, EV Rider LLC., Golden Technologies Inc., Hoveround Corp., Merits Co. Ltd., Pride Mobility Products, Quingo, and Sunrise Medical.
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Source: EIN Presswire