The Water Proof e-scooter Market is growing at an average pace and is likely to secure a CAGR of 5% during the forecast period. Historically (2017 to 2021), the water proof e-scooter market grew at a CAGR of 1.7%. However, strong demand drivers are likely to promote the sales of water proof e-scooter. As a result, the demand for water proof e-scooter is predicted to contribute to the market share worth USD 5.1 Billion by the end of 2022.
| Attributes | Details |
|---|---|
| Water Proof E-Scooter Market CAGR | 5% |
| Water Proof E-Scooter Market (2022) | USD 5.1 Billion |
| Water Proof E-Scooter Market (2032) | USD 8.3 Billion |
As governments across the world are advocating the use of environment-friendly means of transportation, water proof e-scooters align with the objective, which is likely to improve their sales.
All-in-all, the water proof e-scooter market is anticipated to register a valuation of USD 8.3 Billion by 2032.
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As per the water proof e-scooter market report, the frequent rise in the fuel cost is encouraging consumers to ditch their petrol/diesel-dependent vehicles for a more cost-effective solution. In addition to this, government initiatives to curb global warming by reducing the number of vehicles emitting high levels of carbon dioxide are also likely to influence the adoption of water proof e-scooters.
Besides advocating to reduce the use of petrol/diesel-based vehicles, governments are also subsidizing the electric vehicles to promote their usage, which is increasing awareness about the water proof e-scooters among consumers. As a result, strong water proof e-scooters adoption trends are forecasted.
Despite the steady growth of water proof e-scooter market, challenges pertaining to limited charging stations could affect the adoption of water proof e-scooters. In developing countries, the concept of electric scooters is new and the penetration is low. As a result, there are fewer charging stations, which is limiting end users from bringing home an e-scooter under the fear of getting stuck midway on the road.
Besides this, the e-scooters are new inclusions in the mode of transportation and it will take some time for them to break the legacy the petrol and diesel based vehicles have, especially in the developing and underdeveloped economies.
Rise in the number of last-mile deliveries, owing to the online shopping for goods is likely to bode well for the water proof e-scooter market during the forecast period. Given their marketability as a sustainable mode of transportation, investors show huge interest in the industry and are willing to spend millions of dollars to gain a lion’s share. For example, Lime raised capital of around USD 455 Million and it performed well with its current valuation of USD 1,000 Million.
Another e-scooter player, Bird secured a capital of USD 415 and converted it into a valuation of USD 2,000 Million. As per the water proof e-scooter market survey, it has been found that as the purchasing power of consumers increases, they prefer more functional and stylish vehicles, which is pushing the water proof e-scooter market players towards investing in the aesthetics/beautification of their products.
The water proof e-scooter market future trends suggest that companies are more conscious about adding value-added features and bringing improvements in the existing models to attract more buyers and claim their loyalty. As a result, the areas of improvements—battery, engine, micro-controllers, indicator lights, storage space, etc.--are being taken seriously by water proof e-scooter manufacturers.
Among the other categories such as unicycle and three-wheeled e-scooters, the demand for two-wheeled water proof e-scooters is rising as it is considered a popular mode of transportation. As per the new market research report on water proof e-scooter, the three-wheeled and unicycle e-scooters tend to be slow as compared to the two-wheeled water proof e-scooters.
In addition to this, two-wheeled water proof e-scooters are comfortable to use and park, which is likely to contribute the most to the water proof e-scooters market size.
Besides two-wheeled water proof e-scooters, the popularity of three-wheeled is likely to rise during the forecast period as it evenly distributes the weight and can be used as a commercial vehicles to accommodate passengers into the vehicle.
Based on the charging time of water proof e-scooters, consumers are preferring vehicles that get charged quickly. As a result, among the other charging time categories, the popularity of water proof e-scooters with a charging time of less than 4 hours is likely to stay high during the forecast period.
However, since these vehicles also drain their batteries faster, the popularity of vehicles with a charging time of 6-8 hours is growing as consumers want their vehicles to perform better and run more miles.
| Regions | CAGR |
|---|---|
| China Market | 18.7% |
| Japan Market | 13.5% |
| USA Market | 12.7% |
The Asia Pacific region is expected to dominate in the waterproof e-scooter market growth during the forecast period 2022 to 2032 due to the largest production of waterproof e-scooter in the region among others.
The countries such as China, Taiwan, and Japan are the most dominating countries in the Asia Pacific region to enlarging the quantity of water-proof e-scooter all around the globe. China is anticipated to grow higher consumers and producers and recorded to have higher exporters of the waterproof e-scooter which is supposed to grow the waterproof e-scooter market size.
China's market surge with a CAGR of 18.7% during the forecast period 2022 to 2032 as per the waterproof e-scooter market report. Apart from it, from the Asia Pacific region, the Japan market is estimated to lead the second position in the waterproof e-scooter market survey with a CAGR of 13.5% during the forecast period.
The curb vehicular emissions, affordability, and rapid urbanization are adopted by the consumer which drives the waterproof e-scooter market growth. The governments of countries such as China, India and others are likely to setups all the plans for the growth of waterproof e-scooter & put a positive impact on the adoption of waterproof e-scooter.
Apart from the Asia Pacific, North America is anticipated to boost the waterproof e-scooter market demand analysis during the forecast period 2022 to 2032. As it is likely to build high-density batteries which contribute a vital role in the contribution of waterproof e-scooter market growth.
In the North American region, the USA is likely to boost the market with a CAGR of 12.7% during the forecast period.
The competitors are plays a crucial role to generate revenue in the waterproof e-scooter market share. Several manufacturing companies are pointing to increasing the revenue in the automobile industry with their strategies including mergers and acquisitions, the launch of new products, partnerships with other firms, and research and development to boost the waterproof e-scooter market size globally.
Some of the key prominent players are Terra Motors Corporations, Lime, Bird Rides, Hero Electric, Govecs AG, Vogo, Flash, Dott, Gogora Inc, Yadea Technology, Tire Mobility, Vmoto Limited, Jiangsu Xinri E-vehicle Co. LTD, Mahindra Ganze, and BMW Motorrad International.
Recent Trends In Water Proof E-Scooter Market Are:
The water proof e-scooter market is projected to register a CAGR of 5% during the forecast period (2022 to 2032).
During the projected period, the Asia Pacific region is expected to lead the water proof e-scooter market by 2032.
Product type segment is expected to dominate the water proof e-scooter market over the forecast period based on offering.
The water proof e-scooter market is expected to be valued at USD 8329.4 Million by 2032.
The water proof e-scooter market size accounted for around USD 4083.5 Million in 2021.
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Water Proof E-Scooter Market
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