September 25, 2024
Electric scooters are two or three-wheeled vehicles powered by electricity. This power is stored in a rechargeable battery, which drives the functioning of electric motors. The previous electric vehicles used more lead-acid batteries, which were heavy and had a short battery life. With the growth of user demand, there are more and more lithium battery vehicles, and the speed of electric vehicles is getting faster and faster. The maximum speed of electric motorcycles can reach 120km/h and above. Slow charging time is also one of the main concerns of users. In order to solve this problem, battery manufacturers vigorously develop batteries that can be charged quickly, and fast chargers are also imperative, as well as the popularity of charging stations in the future.
There has been a growing trend among manufacturers to establish battery swapping stations and to develop a supercharger network that provides convenience to their consumers. For instance, Tesla Motors is building a network of up to 120kW supercharger in Asia, Europe, and North America. The development of these systems is a strategic initiative undertaken by manufacturers to overcome the barrier of adoption of electric scooters, owing to the inadequate charging infrastructures.
The governments of several nations have made amendments to the electric scooters law to protect the users from road fatalities. The government of India is expected to withdraw all exemption for electric scooters through the amendment to the Motor Vehicles Act. The Ministry of Transportation and Communication in Taiwan is considering the licensing requirements for electric two-wheeler users to crack down illegally modified bikes and to enhance road safety education. Similar laws exist in Australia in which, on road electric scooters are limited to 25km/h and 250 W.
The ever-increasing traffic and rising trend of long travel are encouraging consumers to opt for time-efficient, convenient, and cost-effective modes of transportation to reach their destination, which in turn is projected to drive the growth of the market. In addition, with the surge in micro-mobility, players in the industry have devised vehicle-sharing alternatives allowing people to circumvent purchasing their micro-mobility vehicles.
Public transport vehicles involving taxis and buses cause greenhouse gas emissions. Since people are moving towards the adoption of rechargeable vehicles, the demand for the market is anticipated to grow over the forecast period.
Moreover, growing anxieties over the conservation of the environment inspire commuters to opt for individual transit options such as motor vehicles and cars over public transport vehicles. Therefore, the inclination toward eco-friendly modes of transport is propelling the electric scooter industry.
Additionally, the fluctuating fuel prices have led to a decrease in the sales of fuel-powered vehicles, as consumers are moving toward the adoption of electric vehicles. An increase in the fuel prices has pushed the consumers to abandon the fuel-powered vehicle segment, which coincides with a significant increase in the sales of electric scooters mainly in the regions of India, Hong Kong, and the Netherlands. Norway is expected to ban the sales of all fossil fuel-based cars over the next few years to move toward its goal of green energy by 2025.
