According to Custom Market Insights (CMI), The Global Foldable Electric Scooter Market share was worth around USD 600 million in 2021 and is predicted to grow to around USD 800 million by 2030 with a compound annual growth rate (CAGR) of roughly 2% between 2022 and 2030.
The report analyses the Foldable Electric Scooter market’s drivers and restraints and the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Foldable Electric Scooter market.
Foldable Electric Scooter Market: Overview
The number of electric charging stations seems minimal when compared to the number of electric vehicles currently on the road. In addition, range apprehensions are limiting the marketability of foldable e-scooters.
Governments worldwide have created policies to promote the use of foldable e-scooters by offering users and chevaliers financial incentives. R&D initiatives are a significant factor in the folding e-scooter market’s growth.
Browse the full “Foldable Electric Scooter Market Size, Trends and Insights By Type (Two Wheels, Three Wheel, Unicycle), By Load Variation (<40kg, 40 to 80kg, 80 to 100kg, >100kg), By Battery Type (Sealed Lead, Lithium Ion Battery, Acid Battery, Others), By Voltage (24V, 36V, 48V, Above 48V), By Distribution Channel (E-commerce, OEM), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 “ report at https://www.custommarketinsights.com/report/foldable-electric-scooter-market/
A foldable electric scooter’s compact design is also a significant asset for home storage. Rigid scooters and bicycles can be challenging to store, especially if you have little room. A scooter can be conveniently and discretely kept indoors by being folded down to a small size. A foldable electric scooter is also much more convenient for users than a regular scooter because it is much easier to transport one when not in use.
Additionally, it is commonly known that foldable electric scooters use less fuel and produce less pollution as a result. They are practical for commuting in congested areas because of their energy efficiency, compact size, and lightweight. Thus, throughout the projected period, demand for foldable electric scooters is anticipated to increase due to their small size and environmentally beneficial attributes.
The market for Foldable Electric Scooter is segmented into type, load variation, battery type, voltage, and distribution channel. In 2022, the 36V segment led the market with a more than 55.0% revenue share. Due to their capacity, which extends the E-driving scooter’s range, 36V batteries are popular.
In 2021, the folding e-scooter market will be dominated by sealed lead-acid batteries because of their strength and affordability. These batteries are rechargeable and can be recharged 300 times before they need to be changed. However, they are substantially heavier than NiMH and Li-Ion batteries and have the shortest life expectancy. The use of these batteries is anticipated to decline in the coming years since the raw materials required to make them contain dangerous compounds that release millions of tonnes of lead into the environment. Because batteries hurt the environment, manufacturers have shifted to alternative batteries.
In 2021, the Asia Pacific region was estimated to dominate the foldable electric scooter market. China, Japan, India, South Korea, and other developing economies are in the area. Some leading manufacturers, like Xiaomi Corporation, have headquarters in China. One of the biggest producers and buyers of electric vehicles is the Chinese economy. Moreover, the region’s growing need for foldable electric scooters is fueled by rising pollution levels and appropriate government measures.
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Key Players Insights
Details of top competitors are provided in the competitive landscape for Foldable Electric Scooter. The information includes an overview of the business, financials, revenue, market potential, investments in R&D, new market initiatives, regional presence, corporate strengths and weaknesses, product launches, product breadth and depth, and application domination. The information above only relates to the companies’ market focus on Foldable Electric Scooters.
- Xiaomi Corporation
- Segway, Megawheel
- Pride Mobility Products Corp
- Shenzhen Iezway Technology
- Spacepac Industries Pty Ltd
- Mercane Wheels
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