Wilmington, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Global Folding Electric Scooter Market was valued at US$ 598 million in 2022 and is expected to grow at a significant CAGR of over 2.6% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Foldable electric scooters are a type of electric scooter that can be folded up for easy portability and storage. They are typically lightweight and compact, making them ideal for commuting, leisure riding, and running errands. Foldable electric scooters are powered by batteries, which means that they are environmentally friendly and cost-effective to operate. They typically have a range of 10 to 20 miles on a single charge, and can reach speeds of up to 25 miles per hour.
Foldable electric scooters are lightweight and compact, making them easy to fold up and carry around. This makes them ideal for commuting. In addition, foldable electric scooters are a convenient way to get around. Moreover, the improvement in lithium-ion battery technology has resulted in more efficient and longer-lasting batteries for electric scooters, thus contributing notably to the expansion of folding electric scooter market.
- According to a deep-dive market assessment by RationalStat, the global folding electric scooter market has been analyzed on the basis of market segments, including battery type, age, load, type and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global folding electric scooter market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global folding electric scooter market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Folding Electric Scooter Market: Segmental and Market Share Analysis
- On the basis of battery type, lithium ion is expected to take up the major chunk of the market, principally due to the various benefits associated with the use of lithium ion including, a longer life span, faster charging, and low self-discharge rate, among others.
- On the basis of age, adult folding electric scooters are expected to acquire a significant share of the market, due to the multi-functionality nature of the folding electric scooters.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 598 million |
| Market Size Forecast | US$ 734 million |
| Growth Rate | 2.6% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global folding electric scooter market include,
- In May 2023, Xiaomi launched Electric Scooter 4 and 4 Lite in the EU market. The new electric scooter features a top speed of 13 mph, and a digital dashboard, and is equipped with a 275.4 Wh battery, with a 22-mile distance on a single charge.
- In May 2022, Segway expanded its geographical footprint, by launching three new products in the UAE. Through this strategic move, the company intends to enhance its service to clients in the region.
Some of the prominent players and suppliers operating and contributing significantly to the global folding electric scooter market growth include Xiaomi Corporation, Segway Inc., Razor USA LLC, GOTRAX, Apollo Scooters, Glion, E-TWOW, iEZway, Inokim Inc., and Lime, among others.
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RationalStat has segmented the global folding electric scooter market based on battery type, age, load, type and region
- Global Folding Electric Scooter Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Battery Type
- Lead Acid
- Lithium Ion
- Others
- Global Folding Electric Scooter Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Age
- 18 and above (Adult)
- Below 18 (Kids)
- Global Folding Electric Scooter Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Load
- Single Rider
- Dual Rider
- Global Folding Electric Scooter Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Two Wheels
- Three Wheels
- Global Folding Electric Scooter Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Folding Electric Scooter Market
- US
- Canada
- Latin America Folding Electric Scooter Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Folding Electric Scooter Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Folding Electric Scooter Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Folding Electric Scooter Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Folding Electric Scooter Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Folding Electric Scooter Market
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Key Questions Answered in the Folding Electric Scooter Report:
- What will be the market value of the global folding electric scooter market by 2030?
- What is the market size of the global folding electric scooter market?
- What are the market drivers of the global folding electric scooter market?
- What are the key trends in the global folding electric scooter market?
- Which is the leading region in the global folding electric scooter market?
- What are the major companies operating in the global folding electric scooter market?
- What are the market shares by key segments in the global folding electric scooter market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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