The Latin America, Middle East and Africa Electric Scooters Market would witness market growth of 10.3% CAGR during the forecast period (2023-2030).In the year 2026, the LAMEA market's volume is expected to surge to 861.5 thousand units, showcasing a growth of 20.9% (2023-2030).
The transition from conventional to electric transportation is motivated by an increasing need for sustainable urban mobility and modernized transportation infrastructure. This sort of scooter is expected to improve energy security and air quality. The use of e-mopeds is expected to grow due to the increasing demand for fuel-efficient vehicles and growing concerns over greenhouse gas and carbon emissions.
One of the main factors driving the market over the next years is the increasing demand for fuel-efficient vehicles around the world, along with growing concern over the alarming increase in pollution. Furthermore, rising urbanization and population density, particularly in developing nations, are the main causes of the enormous surge in demand for electric scooters in these regions. This is because, it is a cost-effective and environmentally friendly means of transportation.
Dockless bikes, electric scooters, and shared bikes have become increasingly popular in urban areas in recent years. Electric scooters reduce travel time, making short- and long-distance commuting more convenient. As a result, in the future years, the popularity of electric scooters will increase more quickly than electric cars.
The UAE stated it would invest $163 billion in clean and renewable energy and essential technology to achieve net zero carbon emissions by the year 2050. In November 2023, the UAE will be the host country for the COP28 United Nations Conference on Climate Change. In March 2023, a Clean Technology Trade Mission will lead Israel, the United Arab Emirates, and Saudi Arabia. For instance, the most congested city in Latin America, Bogotá, lacks a subway system. These circumstances have resulted in a widespread adoption of electric scooters region wide. Therefore, all these elements will propel the growth of the market in the coming years.
The Brazil market dominated the LAMEA Electric Scooters Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $809.8 million by 2030. The Argentina market is poised to grow at a CAGR of 10.9% during (2023 - 2030). Additionally, The UAE market would witness a CAGR of 9.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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