Mobility scooters market to reach $3.21 billion by 2030
PORTLAND, OREGON, UNITED STATES, July 13, 2023/EINPresswire.com/ — As per to the report published by Allied Market Research, the global mobility scooters market size generated $1.72 billion in 2020, and is expected to reach $3.21 billion by 2030, with a CAGR of 6.5% from 2021 to 2030. The report presents an in-depth analysis of key drivers, restraints, and opportunities of the market.
The key driving factors of the global mobility scooters market are increased use of electric mobility scooters as an eco-friendly & efficient way of commutation, rise in population of senior citizens, and increase in awareness of advanced mobility devices. However, factors such as the high cost of the EV battery and lack of standardization of EV charging generate a negative impact on growth. Contrarily, increase in R&D investments for improved battery technologies & availability of smooth credit and financing options are expected to create remunerative opportunities for the expansion of the market during the forecast period.
Covid-19 Scenario of Mobility Scooter Market:
The spread of the pandemic impacted the global automotive industry as the demand for new and old vehicles were going down.
The post-pandemic world will see that personal mobility is being used widely for last-mile delivery.
The Covid-19 pandemic brought financial hardship, people have been working from home, and outdoor plans including grocery shopping and travelling have been avoided largely. As a result, the mobility industry is facing a severe decline in ridership and revenue.
The report covers in-depth segmentation of the global mobility scooters market based on range, type, number of wheels, and region.
Based on range, the 10-20 miles segment accounted for the largest market share in 2020, covering nearly half of the global mobility scooters market, and is anticipated to maintain the lead during the forecast period. On the other hand, the less than 10 miles segment is estimated to manifest the highest CAGR of 8.8% from 2021 to 2030.
Based on type, the small (Less than 110 cm) segment accounted for the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the large (more than 150 cm) segment is anticipated to reach the highest CAGR of 8.4% from 2021 to 2030.
Based on region, North America accounted was responsible for the largest market share in 2020, holding around two-fifths of the total global mobility scooters market, and is expected to maintain the lead during the forecast period. On the other hand, Asia-Pacific is expected to portray the highest CAGR of 9.5% during the forecast period.
The key players operating in the global mobility scooter market include Hoveround CorpPride Mobility Products, Amigo Mobility International Inc., Merits Co. Ltd., Afikim Electric Vehicles, Drive Medical Design and Manufacturing, EV Rider LLC., Golden Technologies Inc., Quingo, and Sunrise Medical.
