The Asia Pacific Electric Scooters Market would witness market growth of 9.4% CAGR during the forecast period (2023-2030).In the year 2021, the Asia Pacific market's volume surged to 6,679.0 thousand units, showcasing a growth of 7.4% (2019-2022).
During the forecast period, the adoption of electric scooters (e-scooters) is predicted to be driven by the rising demand for fuel-efficient vehicles and increasing concerns regarding greenhouse gas (GHG) and carbon emissions. E-scooters are mechanically more effective and require less maintenance than their conventional counterparts. The demand is also fueled by the e-scooter fleet's incorporation into shared mobility and vehicle-rental ecosystems.
With increased penetration, these sharing services are being used more frequently. Additionally, the shift from conventional to electric transportation is driven by the need for sustainable urban mobility and smart transportation infrastructure. It is expected that by 2030, the carbon emission gap will be greatly reduced because of the government and vehicle manufacturers' efforts to achieve zero emissions regulations.
Implementing favorable government regulations is positively impacting the development of the market to support the production and to promote sustainability. The FAME India Scheme, for instance, was established by the Indian government to offer subsidies for various electric vehicles, including buses, passenger cars, and two-wheelers like scooters and motorbikes. In addition, it intends to construct numerous recharge stations to promote the use of renewable energy and reduce pollution levels.
China remains the world's largest automotive industry in annual sales and manufacturing output, with domestic production expected to reach 35 million units by 2025. According to information from the Ministry of Industry and Information Technology, approximately 26 million vehicles were sold in 2021, a rise of 7.1% from 2020. China is one of the largest manufacturers of electric scooters globally. More than 10 different businesses are already operating in India, including Gogoro, a leader in the market with headquarters in Chinese Taipei. The market is anticipated to witness significant growth due to the rising automotive sector in the region.
The China market dominated the Asia Pacific Chain Drive Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $719 million by 2030. The Japan market is estimated to witness a CAGR of 10.7% during (2023 - 2030). Additionally, The Taiwan market would showcase a CAGR of 13.2% during (2023 - 2030).
Based on Battery, the market is segmented into Li-ion, Lead Acid, and Others. Based on End-use, the market is segmented into Personal Use, and Commercial Use. Based on Drive Type, the market is segmented into Hub Motor, Belt Drive, and Chain Drive. Based on countries, the market is segmented into China, Japan, India, South Korea, Taiwan, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Electric Scooters Market is Projected to reach USD 59.5 Billion by 2030, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Gogoro, Inc., Honda Motor Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., AllCell Technologies LLC (BEAM Global), BMW Group (BMW Motorrad), Boxx Technologies LLC, Kinetic Green Energy & Power Solutions Ltd., Greenwit Technologies, Inc., KTM AG (PIERER Mobility AG), and Mahindra & Mahindra Limited (Mahindra Group)
By Battery (Volume, Thousand Units, USD Million, 2019-2030)
By End-use (Volume, Thousand Units, USD Million, 2019-2030)
By Drive Type (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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