The three-wheel e-scooter market size is anticipated to grow at a CAGR of 2.4%, increasing from USD 1024.2 million in 2022 to USD 1301.4 million by 2032.
Several factors are driving the expansion of the three-wheel e-scooter market, including reduced noise levels, low maintenance costs, exceptional mechanical performance, and the growing global adoption of electric scooters. Government incentives, both financial and non-financial, are also contributing to the growth of the three-wheel e-scooter business. As consumers become more aware of the environmental impact of traditional transportation methods, they are increasingly opting for electric vehicles, creating new opportunities in the evolving market for three-wheel electric scooters.
However, certain limitations are hindering the development of the three-wheel electric scooter market. The lack of charging stations and concerns about energy capacity and endurance are some of the key factors preventing the growth of the global three-wheel e-scooter market.
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The demand for three-wheel e-scooters is rising due to the implementation of global emission regulations. The market is also benefiting from significant research and development investments by regional and international agencies. Additionally, the increase in fuel costs is accelerating the adoption of three-wheel electric scooters. These scooters are highly practical, available in various models and capacities, and are expected to see a rise in demand. Government programs offering attractive discounts on three-wheel e-scooters are anticipated to further boost their acceptance on a global scale.
KEY TAKEAWAYS:
- The European three-wheel e-scooter market will command the largest portion of the market. The rapid development of infrastructure and the industrialisation of new technologies are boosting the growth of the European demand for three-wheel e-scooter.
- In 2019, the 36V segment accounted for more than 60% of the three-wheel e-scooter market’s The 36V battery segment’s supremacy can be ascribed to its strong power output and compatibility with electric scooters.
- Retro is predicted to be the most profitable area based on application. This is related to a move toward green vehicles for short-distance travel.
- Due to its durability and low cost, sealed lead-acid batteries dominated the industry in 2021, accounting for about 62 percent of total sales of three-wheel e-scooter.
Key Players
- Invacare
- Afikim Electric Vehicle
- Hoveround Corporation
- Pride Mobility Products
- Sunrise Medical Inc.
- VAN OS Medical UK Ltd
- Energica Motor Company S.p.A.
- EV Rider LLC
- UK Mobility Group Ltd
- Golden Technologies
- MERITS Co. Ltd
- Hero Moto Corp
RECENT DEVELOPMENT:
- Due to increased demand, Hero Electric (India) increased the capacity of its new production facility in Ludhiana (India) in September 2021. By Q2 2022, the company has increased production capacity from 1 lakh to over 5 lakh automobiles.
- In August 2020, Okinawa Autotech introduced the R30, a low-speed electric scooter with a top speed of 25 kilometres per hour.
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Key Segmentations
Battery Type:
- Li-Ion
- Ni-Mh
- Lead Based
- Others
Technology:
- Plugin
- Battery
Price Range:
- Below USD 200
- USD 200 – 375
- USD 375.1 – 750
- USD 750.1 – 1100
- Above USD 1,100
Distribution:
- OEM
- E-Commerce
- Others
End Use:
- Personal
- Rental
- Law Enforcement
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