Europe Electric Scooters Market to Grow at Impressive CAGR During Forecast Period
Rising environmental
concerns and increasing government initiatives towards fuel saving technologies
to boost Europe electric scooters market through 2024
According
to TechSci Research report, “Europe
Electric Scooters Market By Battery Type, By Battery Capacity, By Range, By
Voltage, By Region, Competition, Forecast & Opportunities, 2024” Europe electric scooters market is projected to register a
CAGR of close to 27% during the forecast period owing to the increasing fuel
prices. It is expected that world would be left with over 50 years of oil if it
is consumed in same trend. Therefore, the growing economies are shifting their
focus towards alternative energy sources, thus driving the growth of the
market. Moreover, factors like increasing urbanization, rising levels of
pollution, global warming, depletion of fossil fuels, rising cost of fuels,
among others are further anticipated to drive Europe electric scooters market. Additionally,
features such as eco-friendly, fuel-efficient, easy to handle, compact size, and
noise efficient compared to conventional scooters are further fueling the demand
for electric scooters in the region. However, Europe electric scooters market
is likely to get subdued due to range and performance constraints associated
with electric scooters as they serve the limited purpose of short distance
commuting only.
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Europe electric scooters market is segmented based on battery type, battery capacity, range, voltage,
region and company. In terms of battery type, the market can be
categorized into lead acid and lithium-ion, of which the latter is expected to
dominate the market through 2024 owing to its excellent thermal stability, long
lifespan, and faster charging time. Based on voltage, the market can be
segmented into 48 V, 60 V, 72 V, 100 V and >100 V. Among all of these, electric
scooters with a 60 V battery dominated the market with over 40% share in 2018
and is expected to maintain its position owing to the surging demand for
high-speed vehicles with improved aesthetics and durable body.
GOVECS AG, Gogoro Inc.,
TORROT ELECTRIC EUROPA S.A., Kwang Yang Motor Co. Ltd., Alta Motors, BMW AG,
Niu Technologies, Askoll EVA SpA, Zero Motorcycles Inc. and Lightning Motors
Corp and others are some of the leading players operating in Europe electric
scooters market. The companies operating in the market
are using organic strategies such as product launches, mergers and
collaborations to boost their share and increase their customer base.
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“The electric scooters market is anticipated to be one
of the most dynamic and fastest growing markets in the coming years owing to growing
support of the governments for the use of electric scooters along with enactment
of stringent emission norms. Moreover, declining battery price is further
expected to spur the growth of the market through 2024. Additionally, technological
advancements and establishment of new government regulations would further
steer growth in Europe electric scooters market.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Europe Electric Scooters Market By Battery Type, By
Battery Capacity, By Range, By Voltage, By Region, Competition, Forecast &
Opportunities, 2024” has
evaluated the future growth potential of Europe electric scooters market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Europe electric scooters market.
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