Electric Mobility Scooter Market is forecast to reach $1.25 billion by 2025, after growing at a CAGR of 8.59% during 2020-2025. With rise in the elderly population at a global level, the Electric Mobility Scooter market is witnessing an increase in demand. Electric mobility scooter is a power operated vehicle that is similar to electric wheel chair. The recent developments including the launch a foldable scooters is further elevating the growth of electric mobility scooter market.
North America dominates the electric mobility scooter market owing to the high presence of the elderly population majorly suffering with arthritis, physical disability and other factors.
The Li-ion Batteries are analyzed to grow at highest rate during the forecast period owing to their performance.
The rise in the elderly population at a global level is driving the market for electric mobility scooter.
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Battery Type – Segment Analysis
Although sealed lead acid is hold highest market share in 2018, Li-Ion Batteries are analyzed to grow at significantly highest rate during the forecast period 2020-2025. The growth of Li-ion batteries is mainly attributed to the factors including declining prices, high performance and so on. Moreover the Li-ion batteries provide a wide range of advantages including high energy density, lesser self-discharge rate, low maintenance and so on. These factors are further elevating the growth of the electric mobility scooters with li-ion batteries.
Class – Segment Analysis
Class 2 electric mobility scooters are analyzed to hold a highest market share and grow at a highest rate during the forecast period. This is mainly attributed to the features including light weight, requirement of less power, and many others. The class 2 scooters can be used in in-door and outdoor as well, hence it is majorly used by the elderly and disabled people, whereas the Class3 scooter is widely deployed in outdoor applications.
Geography – Segment Analysis
North America dominated the Electric Mobility Scooter market, followed by APAC and Europe. Owing to the high presence of geriatric population alongside high income level in North America is analysed to boost the market. As of 2018, the 16% of population in U.S. are over 65%, and majorly suffering with the health issues such as disabilities, musculoskeletal diseases, arthritis, and rheumatic diseases thereby elevating the electric mobility scooter market. As stated by census report, the count of people in the age group of 65 and above will reach 98.2 million by 2060 in North America which is in turn fuelling the growth of the Electric mobility scooter market during the forecast period. The significant rise in the geriatric population in the APAC and Europe is further elevating the electric mobility scooter market.
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Drivers – Electric Mobility Scooter Market
Rise in Chronic rheumatic diseases globally
As stated by World Health Organization (WHO), around 9.6% of men and 18.0% of women aged over 60 years have symptomatic osteoarthritis, which is a form of rheumatic disease globally. Around 80% of those with osteoarthritis have limitations in movement and around 25% cannot perform daily activities. Therefore the increasing demand for these scooters is driving the electric mobility scooter market during the forecast period.
Challenges – Electric Mobility Scooter Market
Although the electric mobility scooters provide with various advantages, the high cost is analyzed to pose a challenge to the market. In the developing economies, the elderly people disinterest due to low health care expenditures is analyzed to hamper the growth of the electric mobility scooter market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Electric Mobility Scooter market. In 2018, the market of Electric Mobility Scooter has been consolidated by the players including Afikim Electric Vehicles, Invacare, Sunrise Medical, Roma Medical, Drive Medical, Golden Technologies, Hoveround Corp, Quingo, TGA Mobility, Electric Mobility, Van Os Medical, Kymco, Amigo Mobility, and Vermeiren, among others.
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