The Scooter Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/scooter-global-market-report
According to The Business Research Company’s Scooter Global Market Report 2024, The scooter market size has grown strongly in recent years. It will grow from $68.72 billion in 2023 to $73.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to urbanization and traffic congestion, rising fuel prices, environmental concerns, ease of maneuverability, youthful demographics, rise of sharing economy, changing lifestyle patterns..
The scooter market size is expected to see strong growth in the next few years. It will grow to $96.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to smart connectivity features, expansion of scooter-sharing services, focus on sustainable manufacturing, customization options for consumers, advancements in scooter design, economic viability for short commutes.. Major trends in the forecast period include integration of smart features, lightweight and compact designs, technological advancements, evolving consumer preferences, integration of advanced safety features, innovations in charging infrastructure, collaborations with ride-hailing platforms..
The investment in road construction is driving the scooter market. Road construction leads to the repair, maintenance, and building of new roads for ease of transportation. Good-quality roads help vehicles, especially two-wheelers, run smoothly without jerks and obstructions. Scooters work more efficiently when the roads are properly built. Countries are investing in the construction of roads to improve transportation facilities. For instance, the Ministry of Road Transport and Highways has received funding from the Indian government of $13.14 billion to construct roads and highways. Thus, an increase in investment will propel the scooter market.
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The scooter market covered in this report is segmented –
1) Product Type: Electric Scooters, Gas Scooters, Kick Scooters
2) By Application: Commercial, Individual
Technological advancement is a key trend in the scooter market. Technologies such as artificial intelligence are used in manufacturing scooters to keep track of traffic, ensure battery backup in case of electric scooters, help delivery services in tracking locations, finding parking spaces, and various other purposes. In April 2022, Voi Technology, a Sweden-based micro-mobility startup that provides electric scooters for last-mile transportation, partnered with Drover AI. Through this partnership, Voi will use AI technology to deploy computer vision in e-scooters throughout Oslo that manages sidewalk driving, modifies e-scooter parking lots, and provides a safe driving experience. Drover AI is a software development company that creates IoT solutions backed by AI to manage fleets of last-mile vehicles.
The scooter market report table of contents includes:
1. Executive Summary
2. Scooter Market Characteristics
3. Scooter Market Trends And Strategies
4. Scooter Market – Macro Economic Scenario
5. Global Scooter Market Size and Growth
…
31. Global Scooter Market Competitive Benchmarking
32. Global Scooter Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Scooter Market
34. Scooter Market Future Outlook and Potential Analysis
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