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mobility scooters market
The report presents an in-depth analysis of key drivers, restraints, and opportunities of the market.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 24, 2024 /EINPresswire / -- The key driving factors of the global Mobility Scooters Market are increased use of electric mobility scooters as an eco-friendly & efficient way of commutation, rise in population of senior citizens, and increase in awareness of advanced mobility devices. However, factors such as the high cost of the EV battery and lack of standardization of EV charging generate a negative impact on growth. Contrarily, increase in R&D investments for improved battery technologies & availability of smooth credit and financing options are expected to create remunerative opportunities for the expansion of the market during the forecast period.
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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% from 2021 to 2030.
The key players profiled in this report include
Merits Health Products, Inc., Quingo, Pride Mobility Products Corp., Amigo Mobility International Inc., Afikim Electric Vehicles, Drive DeVilbiss Healthcare, Hoveround Corporation, EV RIDER LLC, Sunrise Medical, Golden Technologies
Based on range, the 10-20 miles segment accounted for the largest market share in 2020, covering nearly half of the global mobility scooters market, and is anticipated to maintain the lead during the forecast period. On the other hand, the less than 10 miles segment is estimated to manifest the highest CAGR of 8.8% from 2021 to 2030.
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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).
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 Mobility Scooters Market during the forecast period.
Regional Analysis:
Based on region, North America accounted was responsible for the largest market share in 2020, holding around two-fifths of the total global mobility scooters market size , and is expected to maintain the lead during the forecast period. On the other hand, Asia-Pacific is expected to portray the highest CAGR of 9.5% during the forecast period.
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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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Based on type, the small (Less than 110 cm) segment accounted for the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the large (more than 150 cm) segment is anticipated to reach the highest CAGR of 8.4% from 2021 to 2030.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.