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Used E-Scooter Market | FMI Reports

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Used E-Scooter Market | FMI Reports

Used E-Scooter Market | FMI Reports
Used E-Scooter Market

According to a study by FMI, the used E-Scooter market was appreciated on $671.20 million in 2022 and is expected to $919.70 million in 2032, with a growth of 3.2% compound annual growth rate (CAGR).

People are increasingly switching to electric vehicles due to their environmental benefits, technological integration and cost-effectiveness, which is driving the sales of used e-scooters in new regions.

The development of electric vehicle components and the optimization of transmission systems for e-scooters determine the trends in the used e-scooter market.

Aggressive pricing strategies, cashback discounts and the emergence of online platforms with extensive product segmentation are driving demand for used e-scooters across multiple regions.

Manufacturers are using innovative technologies such as artificial intelligence, machine learning and the Internet of Things (IoT) to make vehicles more advanced and futuristic.

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Government subsidies for electric vehicles, including e-scooters, which provide subsidies to end users also boost the second-hand e-scooter market and help it expand into new regions.

However, the second-hand e-scooter market was negatively impacted by the COVID-19 pandemic as production and research and development activities were halted and sales outlets and showrooms were not operational.

KEY LESSONS:

  • The Asia Pacific region is one of the highest growing regions in the used e-scooter market. Developing countries like India are flourishing with a compound annual growth rate (CAGR) of 12.8% between 2022 and 2032, while Brazil is flourishing with a compound annual growth rate (CAGR) of 9.5% until 2032.
  • Europe is also sharing its share of the used e-scooter market, as European countries pledge to limit their CO2 emissions. Governments are implementing awareness initiatives so that citizens adopt electric vehicles. This creates more traction for yoused e-scooter market.
  • Lithium-ion batteries constitute the largest segment in the battery type category in the used e-scooter market and will account for the largest share during the forecast period, owing to factors such as high performance, longer shelf life, and ease of installation.
  • The two-wheeler segment is the largest segment and will hold the largest market share during the forecast period. This is due to factors such as widespread and popular usage, easy availability and better price ranges, coupled with new integrated technologies.
  • Vehicle manufacturers continue to experiment with their designs and technologies to attract new customers and thus expand the used e-scooter market.

COMPETITIVE LANDSCAPE:

Some of theused E-Scooter market The players covered in the FMI study are Xiaomi Corporation, Glion, Voro Motors, Segway, Apollo Scooters, GOTRAX, INOKIM, KAABOO, Razor, Hover and Bird.

The competitive landscape of used E-Scooters is dynamic in nature and allows new competitors to flourish in the market and increase competitiveness. The companies in the market are part of mergers and collaborations that result in more distribution channels and market spaces. These companies focus on updating the price ranges, making it accessible for use and increasing the security layers.

Recent developments in the used e-scooter market

  • Voro Motors has put its new lineup of refurbished electric scooters up for sale online, including its latest EMOVE cruiser series, Dualtron and Wolf King with multiple battery options. This is boosting the sales of used e-scooters.
  • Razor has introduced its used e-scooter series, including Eco smart metro and SUP with E300 and E100. This boosts the sales of used e-scooters in the new regions.

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Main segmentations

By type:

  • unicycle
  • Two wheels
  • Three wheels

By wattage:

  • Up to 250 Watts
  • 250 to 450 Watts
  • 450 to 700 Watts
  • Above 700 Watts

Based on battery status:

Via distribution channel:

By battery type:

  • Lithium ion battery
  • Sealed lead acid batteries
  • Nickel metal hydride batteries

Per region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award recipient, and member of the Greater New York Chamber of Commerce) provides deep insights into the drivers that are driving demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food & Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a large team of more than 400 analysts worldwide, FMI offers global, regional, and local expertise across a variety of domains and industry trends in more than 110 countries.

Contact us:

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
Phone: +1-845-579-5705
For sales inquiries: [email protected]
Website:https://www.futuremarketinsights.com
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