MARKET OVERVIEW
An electric scooty battery is a power storage unit used to provide power to the DC motor, lights, controller, and other scooter accessories. It is comprised of individual cells and electronics called a battery management system that helps operating safely with high energy density and longer durability. The extremely high volatility in oil prices coupled with growing shift towards battery-operated lightweight electric vehicles are the key factors propelling the demand for electric scooty battery market. In addition, the associated advantages such as less maintenance expense, highly affordable last-mile transportation, enhanced comfort and safety as compared to fueled vehicles are also driving the market dynamics for electric scooty battery market.
MARKET SCOPE
The "Global Electric Scooty Battery Market Analysis to 2028" is a specialized and in-depth study of the storage and distribution industry with a special focus on the global market trend analysis. The report aims to provide an overview of the electric scooty battery market with detailed market segmentation by product type, capacity, and geography. The report provides key statistics on the market status of the leading electric scooty battery market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of product type the market is segmented into Lithium-Ion (Li-ion), Lithium Iron Phosphate (LFP), Lithium Polymer (LiPo), Sealed Lead Acid Battery (SLA), and Nickel Metal Hydride (NiMH)
- On the basis capacity, the market is segmented as 100-500 Wh, 500-1000 Wh, 1000-1500 Wh, 1500-2000 Wh, and 2000 Wh & Above
MARKET DYNAMICS
Drivers:
- Increasing demand for light weight electric vehicles is driving the market growth
- The government incentives and tax benefits is further boosting the adoption of electric bikes or scooty's
Restraints:
- Several safety related concerns for passengers and drivers is restraining the global electric scooty battery market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The electric scooty battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the electric scooty battery market in these regions.
IMPACT OF COVID-19 ON ELECTRIC SCOOTY BATTERY MARKET
The outbreak of the COVID-19 has severely impacted the energy and power industries, which resulted in lower sales of electric scooty batteries in the year 2021. The COVID-19 pandemic has hampered electric scooter production and sales, as all manufacturing and research facilities were closed due to global lockdowns. Moreover, a shortage of raw material supply required for battery and vehicle manufacturing was experienced due to disruption of supply chain and transportation channel across the globe, which, in turn, hampered the market. However, in pandemic recovery period various government had announced favourable policies along with several relief packages for the adoption of electric vehicles which is fueling the electric scooty production which in turn drives the demand for electric scooty batteries that propels the market growth. For instance, in February 2022, the Central Government of India had proposed to introduce a battery swapping policy to encourage buyers to opt for electric vehicles. In pandemic recovery period, the upcoming investment trend in the electric vehicle industry had fueled the new entrants to enter into the market. The new launches of vehicles will come from Ultraviolette, Nexzu, Hop, Prevail, Emflux and among other players. Thus, such supportive regulations followed by investment from new entrants are posing potential opportunity for the market growth.
MARKET PLAYERS
The report covers key developments in the electric scooty battery market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the electric scooty battery market are anticipated to provide lucrative growth opportunities in the future with the rising demand for electric scooty battery in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the electric scooty battery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Contemporary Amperex Technology Co., Limited.
- Hunan CTS Technology Co. ltd.
- LG Energy Solution
- Maxvoltenergy
- Pastiche Energy Solutions
- SAMSUNG SDI CO.,LTD.
- SMARTPROPEL
- Wanxiang Import & Export Co. Ltd.
- Siam GS Sales Co., Ltd.
- ENVISION AESC GROUP LTD.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.