LeapZipBlog: Mason Cooper's blog: Europe Electric Scooters Market to Grow at Impressive CAGR During 2020-24

Europe Electric Scooters Market to Grow at Impressive CAGR During 2020-24

September 6, 2019 by Mason Cooper  

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 the 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.

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.

“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.

Browse market data Tables and Figures spread through 80 Pages and an in-depth TOC on "Europe Electric Scooters Market" @ https://www.techsciresearch.com/report/europe-electric-scooters-market/4207.html

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.