Asia-Pacific Electric Scooter Market Worth $ 625.03 Billion and 266.04 Million Units by 2029

 Meticulous Research®, a prominent firm specializing in market research, released a report titled “Asia-Pacific Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Scooter & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology (SLA, Li-ion, Li-ion Polymer), Motor Type, Charging Type, End User, and Country - Regional Forecast to 2029”.

The electric scooter market in the Asia-Pacific region is projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 28.9% between 2022 and 2029, ultimately reaching a value of $625.03 billion by 2029. In terms of volume, it is anticipated to reach 266.04 million units by 2029, with a CAGR of 26.4% during the forecast period. This growth is driven by several factors including supportive governmental policies and regulations, escalating environmental concerns, and increased investments from Original Equipment Manufacturers (OEMs) and ride-hailing companies in the micro-mobility sector. Furthermore, the declining costs of batteries present significant opportunities for market expansion.

However, substantial initial investments required for acquiring electric two-wheelers and the rising occurrences of theft and vandalism targeting e-bikes and e-scooters across Asian nations are anticipated to significantly impede market expansion. Additionally, challenges such as range anxiety linked with electric two-wheelers and inadequate cycling infrastructure in developing countries across the Asia-Pacific region are expected to further hinder market growth.

The electric scooter market in the Asia-Pacific region is divided into segments based on vehicle type, power output, battery technology, motor type, charging type, end-user, and country. The research also assesses competitors in the industry and conducts a country-level analysis of the market.

Based on vehicle type, in the Asia-Pacific electric scooter market, segmentation includes electric motorcycles and e-scooters & bikes. In 2022, it's projected that electric motorcycles will hold the dominant share. This dominance is driven by factors such as government initiatives favoring electric transportation, heightened awareness of reducing greenhouse gas emissions and pollution, growing consumer preference for electric motorcycles, escalating gasoline prices, and the implementation of stricter emission regulations.

However, the e-scooter & bikes segment is anticipated to experience the highest Compound Annual Growth Rate (CAGR) throughout the forecast period. This growth is attributed to several factors including heightened government subsidies and initiatives aimed at fostering electric mobility, expanding utilization of e-scooters & bikes in courier and e-commerce delivery services, increasing demand for energy-efficient commuting solutions, and growing investments by government entities in enhancing Electric Vehicle (EV) charging infrastructure across the Asia-Pacific region.

Based on power output, in the Asia-Pacific electric scooter market, there are segments based on power output: less than 3.6 kW, 3.6 kW to 7.2 kW, and 20 kW to 100 kW. In 2022, the segment with less than 3.6 kW power output is projected to hold the largest market share. This particular power output is commonly found in electric kick scooters and bikes, serving as convenient last-mile transportation options for short distances. Its significant share is attributed to its ability to eliminate fuel, maintenance, service, and other related costs.

However, the segment with a power output ranging from 3.6 kW to 7.2 kW is anticipated to experience the most significant Compound Annual Growth Rate (CAGR) throughout the forecast period. This power range is commonly utilized in electric mopeds. The growth of this segment is credited to the cost-efficiency of electric mopeds, their capability to travel up to 60km on a single charge, minimal service expenses, low maintenance requirements, and their emission-free operation.

Based on battery technology, in the Asia-Pacific electric scooter market, segmentation includes sealed lead acid battery, lithium-ion battery, and lithium-ion polymer battery categories. It is projected that in 2022, the lithium-ion battery segment will dominate the market. This is primarily due to the increasing utilization of electric and hybrid electric vehicles, alongside the growing incorporation of battery technology within the renewable energy sector.

However, it is anticipated that the lithium-ion polymer (LiPo) battery segment will exhibit the most significant Compound Annual Growth Rate (CAGR) throughout the forecast period. LiPo batteries are favored by many electric bike manufacturers and are commonly used in e-bikes. When compared to other lithium batteries, LiPo batteries offer a higher level of cost-effectiveness without sacrificing performance.

Based on motor type, the Asia-Pacific electric scooter market is divided into hub motors and mid-drive motors, with the hub motor segment further categorized into geared hub motors and gearless hub motors. In 2022, it is anticipated that the hub motors segment will hold the largest market share. This dominance is attributed to their increased flexibility and ability to operate in all-wheel-drive configurations, offering enhanced stability. Moreover, the hub motor segment is projected to experience the highest Compound Annual Growth Rate (CAGR) throughout the forecast period.

Based on charging type, the Asia-Pacific electric scooter market is categorized into connector charging and wireless charging segments. In 2022, it is projected that the connector charging segment will dominate the market. This is primarily due to the growing demand for electric scooters for short commutes and the upward trend in fuel prices. Nonetheless, the wireless charging segment is expected to witness the highest Compound Annual Growth Rate (CAGR) during the forecast period.

Based on end user, the Asia-Pacific electric scooter market is divided into segments including government institutions, academic institutes/universities, business organizations, micro-mobility service providers, individuals, and other end users. In 2022, it is anticipated that the business organizations segment will hold the largest market share. This significant share is credited to government initiatives aimed at accelerating electric vehicle adoption, facilitating last-mile transportation, and alleviating road congestion. Furthermore, the business organizations segment is projected to experience the highest Compound Annual Growth Rate (CAGR) throughout the forecast period.

Based on country, in 2022, China is projected to dominate the Asia-Pacific electric scooter market. This dominance is fueled by several factors including robust government backing, expansion of charging infrastructure, strategic business initiatives by energy firms, escalating fuel costs, and heightened awareness of environmental issues, all contributing to the increasing adoption of electric scooters in China.

However, the Philippines is expected to achieve the highest Compound Annual Growth Rate (CAGR) during the forecast period. The increasing adoption of electric vehicles in this nation is propelled by initiatives undertaken by the local government to incentivize investments and promote the adoption of cleaner technologies.

Download Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5242

Major players in the Asia-Pacific electric scooter market include Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Niu Technologies (China), Fuji-Ta Bicycle Co., Ltd. (China), Zhejiang Minimotors Bike Co., Ltd. (China), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd. (India), Revolt motors (India), Hero MotoCorp Ltd. (India) and Dongguan Tailing Electric Vehicle Co., Ltd. (China).

Key Questions Answered in the Report:

  • What are the segments within the market that are expected to experience significant growth in terms of vehicle type, power output, battery technology, motor type, charging type, end user, and country?
  • What is the past market size of the Asia-Pacific electric scooter market?
  • What are the projected market forecasts and estimations for the period from 2022 to 2029?
  • What are the main factors propelling, hindering, presenting opportunities, and posing challenges in the Asia-Pacific electric scooter market?
  • Who are the key players in the market, and what are their respective shares of the market?
  • Who are the prominent players operating within different countries?
  • What does the competitive scenario look like in the Asia-Pacific electric scooter market?
  • What are the latest advancements or developments occurring within the Asia-Pacific electric scooter market?
  • What are the diverse strategies implemented by the key players in the market?
  • Which countries show high growth potential in the Asia-Pacific electric scooter market?
  • Who are the emerging key players in the Asia-Pacific electric scooter market, and how do they compete with established players?

Contact Us:

Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

Comments

Post a Comment

Popular posts from this blog

The Power Players: 15 Influencing Micro-mobility Market Growth

  The newly published research report on   Micro-mobility Market Report   provides an in-depth comprehension of a rapidly growing market. It offers an extensive market outlook, covering all the major aspects such as Micro-mobility market share, size, trends, projected growth rate, and sales channels. Also, it examines the challenges, opportunities, and prospects for the market. An in-depth analysis of all the major market segments and regions has been provided in the report. Pictorial representations such as tables, graphs, and charts have also been used to help readers comprehend the information easily. Both quantitative and qualitative research methodologies have been used in the study to provide an in-depth market comprehension. It covers crucial information on supply chain challenges and how businesses can deal with them. The research report is a vital resource for stakeholders, investors, and anyone looking to develop effective marketing strategies and stay ahead of ...
Read more

Europe EV Battery Market - Opportunity Analysis And Industry Forecast (2022-2029)

  Meticulous Research®, a prominent market research firm, released a report titled " Europe EV Batteries Market  by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country - Forecast to 2029" . The European EV battery market is projected to expand at a compound annual growth rate (CAGR) of 45.8% from 2022, reaching $94.41 billion by 2029 . This growth is primarily fueled by the rising global adoption of electric vehicles, falling battery prices, and the increasing localization of battery production. Additionally, the expanding use of battery-as-a-service presents lucrative growth opportunities for market participants. However, the market's growth may be somewhat hindered by a potential shortage in lithium mining capacity. Additionally, safety concerns related to EV batteries pose a significant challenge to the expansion of t...
Read more

Ventilators Market to be Worth $13.23 Billion by 2031

  Meticulous Research®, a prominent market research firm, released a report titled, ‘ Ventilators Market by Product (Instrument, Catheter, Mask, Tube) Mobility (Intensive Care, Portable) Interface (Invasive, Non-invasive) Age Group (Adult, Neonatal) Mode (Volume, Pressure, Dual) End User (Hospital, ASC, Home Care) – Global Forecast to 2031’. Meticulous Research® predicts that the ventilators market will expand to $13.23 billion by 2031 , growing at a compound annual growth rate (CAGR) of 8.3% between 2024 and 2031. This growth is fuelled by several factors, including the increased availability of intensive care units (ICUs) and ICU beds, higher rates of respiratory diseases, urbanization leading to increased pollution, a growing elderly population, and more instances of preterm births. Nonetheless, obstacles such as the expensive nature of ventilators and the preference for alternative oxygenation therapies hinder market advancement. Rising demand for therapeutic devices for ho...
Read more