Global Mobility Scooters Market To Be Driven By Rising Adoption Of Electric Driven Vehicles In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Mobility Scooters Market Share, Report and Forecast 2021-2026’, gives an in-depth analysis of the global mobility scooters market, assessing the market based on its segments like types, ranges, wheels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 1.72 Billion
- Forecast CAGR (2023-2028): 6.43%
- Forecast Market Size (2026): USD 2.5 Billion
The market growth of mobility scooters is predominantly being driven by the rising demand from geriatric populations, and people with mobility disorders due to spinal, orthopaedic, or other factors. Mobility scooters are popularly available in three-wheel and four-wheel form, and are battery operated. The increasing demand for mobility scooters can be associated with the increasing disposable incomes and expanding purchasing power of the people thereby shifting trends from traditional wheelchairs to mobility scooters is invigorating the growth of the market.
Industry Definition and Segmentation
A mobility scooter is an electric powered auxiliary used by old, aged people or people with mobility disorders. There are different types of mobility scooters available in the market making them fit for different age groups.
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On the basis of type, the market can be segmented into:
- Small (less than 110 cm)
- Medium (110-150 cm)
- Large (more than 150 cm)
Based on range, the market can be categorised into:
- Less than 10 miles
- 10-20 miles
- More than 20 miles
The market, based on wheels, can be divided into:
- Three-Wheeler
- Four-Wheeler
The regional markets for the product include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The global market for mobility scooters is being driven by the increasing focus on electric operated vehicles in view of the degrading global environment. Electricity driven mobility scooters are faster, efficient, and are more cost-effective than traditional mobility scooters, hence invigorating the market demand and adding to the market growth. Furthermore, rise in awareness owing to robust marketing strategies employed by leading market players, government emphasis to adopt sustainable mode of transport, subsidies and payback schemes, among others are further contributing to the market growth of mobility scooters.
Key Market Players
The major players in the market are Afikim Electric Vehicles Ltd., Amigo Mobility International Inc., EV Rider LLC, Golden Technologies, Inc., and Quingo, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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