Foldable Electric Scooter Market: Key Drivers, Trends, Growth, Outlook 2024-2033

The foldable electric scooter global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Foldable Electric Scooter Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size – The foldable electric scooter market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to consumer lifestyle changes, tourism and leisure activities, innovative marketing and branding, rise of urban delivery services and integration with public transportation.

The foldable electric scooter market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to portability and convenience, investment and funding, brand awareness and marketing, affordability, and environmental awareness. Major trends in the forecast period include integration of artificial intelligence AI and IoT, eco-friendly materials and manufacturing, urban infrastructure development, expansion of rental and sharing services, and economic recovery driving sales.

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Scope Of Foldable Electric Scooter MarketThe Business Research Company’s reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Foldable Electric Scooter Market Overview

Market Drivers -The increasing environmental concerns are expected to propel the growth of the foldable electric scooter market going forward. Environmental problems are growing due to issues such as pollution and climate change. Foldable electric scooters offer a sustainable and eco-friendly transportation mode. These scooters don’t release harmful pollutants or greenhouse gases into the atmosphere, contributing to improved air quality and reduced carbon footprint. This reduces reliance on fossil fuels and promotes using clean and renewable energy for transportation. For instance, in September 2022, according to the World Health Organization, a Switzerland-based Intergovernmental organization, 99% of the global population breathes unclean air, and air pollution causes 7 million premature deaths a year. Additionally, in January 2024, according to the European Environment Agency, a Denmark-based government agency, in Europe, 253,000 deaths occurred in 2021 from chronic exposure to fine particulate matter. Therefore, increasing environmental concerns are driving the growth of the foldable electric scooter market.

Market Trends – Major companies operating in the foldable electric scooter market are developing compact motorcycles to expand their product offerings and cater to a broader range of customers. Compact motorcycles are portable, lightweight personal mobility devices designed for urban commuting, featuring a foldable design for easy storage and convenience. For instance, in September 2023, Honda Motors Co. Ltd., a Japan-based automobile company, launched the Moto Compacto, a foldable electric scooter designed for customizable and fun urban mobility solutions. It features a 490-watt electric motor, a top speed of around 15 mph, and a range of up to 12 miles. It is also designed to be highly customizable, with Honda offering a range of accessories and parts for personalization, and it is intended to complement Honda’s upcoming electric vehicles, such as the Prologue and Acura ZDX, providing a last-mile transportation solution.

The foldable electric scooter market covered in this report is segmented –

1) By Type: Maximum Load Below 200 Pounds, Maximum Load 200-250 Pounds

2) By Battery Type: Sealed Lead Acid Battery, Lithium-Ion Battery

3) By Voltage: 24V, 36V, 48V, Above 48V

4) By End-User: Children, Adult

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Regional Insights – North America was the largest region in the foldable electric scooter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foldable electric scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies – Major companies operating in the foldable electric scooter market are Xiaomi Corporation, Yadea Group Holdings Ltd., Razor, Niu Technologies, Globber, Segway Inc., Jetson, Mega Wheels, Urban Machine, Swagtron, Unagi Scooters, eMove-Company, EcoSmart, Dualtron X Limited, Spacepac Industries Pty Ltd., Fluidfreeride, Glion Electric Scooter, Hiboy, Inokim Inc., Levy Electric , Minimotors, NanRobot, Shenzhen Iezway Technology, Voro Motors, GOTRAX

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