The global e-scooter market is poised to grow by 2,138.50 K units during 2020-2024, progressing at a CAGR of almost 6% during the forecast period says the report of Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Electrotherm Ltd., Greaves Cotton Ltd., Hero Electric Vehicles Pvt. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., Niu Technologies, SONGUO MOTORS Co. Ltd., Yadea Group Holdings Ltd., Z Electric Vehicle Corp., and Zhejiang Luyuan Electric Vehicle Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.