Mobility Scooter Market Outlook 2031

  • The global mobility scooter market was valued at US$ 1.17 Bn in 2020
  • It is estimated to expand at a CAGR of 6.44% from 2021 to 2031
  • The global mobility scooter market is expected to surpass the value of US$ 2.33 Bn by the end of 2031

Coronavirus Impact on Mobility Scooter Market

The coronavirus pandemic has caused disruption in supply chain management and logistics distribution by affecting majority of businesses across the globe. Due to forced lockdown, shutdown of production and manufacturing activities have hampered the mobility scooter market across the globe. Market players operating in the mobility scooter market are recovering from the losses and re-establishing their businesses by shifting toward electronic vehicles. The automotive industry and mobility scooter market have been negatively affected by the COVID-19 pandemic, owing to decreased production of vehicles. Strict restrictions on travel has impacted the purchase of mobility scooters. However, with relaxations in restrictions on movement, mobility scooter manufacturers are focusing on increasing production of innovative scooters to attract consumers across the globe.

 

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Rise in Awareness and Adoption of Mobility Vehicles in Geriatric Population

The increasing geriatric population across the globe is the major factor contributing to the mobility scooter market growth. The increasing awareness of mobility scooters in disabled population is likely to propel the mobility scooter market. Excellent features of mobility scooters such as comfort, flexibility, and maneuverability help create potential revenue opportunities for the manufacturers.

 

Increase in Investments by Governments to Provide Eco-friendly Mobility Scooters

Consumers nowadays are aware about the rising pollution level due to vehicles and its impact on the environment. Thus, increasing consciousness about using battery-powered vehicles across the globe is driving the demand for mobility scooters. Governments and environmentalists are promoting the advantages of electric vehicles such as 3-wheeler and 4-wheeler mobility scooters. This has decreased the sales of conventional vehicles, which emits the harmful gases into the air. The growing popularity of mobility scooters due to funding provided by governments in many developing countries has created numerous opportunities for players in the global mobility scooter market. Increasing initiatives and policies to provide cost-effective mobility scooters for consumers is also fuelling the growth of the market.

 

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Advancements in Battery Technology to Fuel Market Growth

One of the major factors driving the global market is technological advancements in batteries. Major manufacturers are developing innovative batteries for use in electronic vehicles such as mobility scooters. Cost-effective lithium-ion batteries and zinc-manganese oxide batteries help improve the overall performance of mobility scooters. Online research & development activities in the battery technology help manufacturers generate value-grab opportunities. These batteries improve the range of mobility scooters by reducing their overall weight. It requires less time for charging the electric vehicle; this factor is expected to boost growth opportunities in the mobility scooter market. In addition, consumers are adopting smart mobility scooters due to their high efficiency.

 

Market Contributors Focus on Challenges to Create Revenue Opportunities

Difficulty in charging due to unavailability of charging stations in many countries is the major factor hampering the mobility scooter market growth. These battery-powered vehicles do not have any alternative source of charging. Market players are focusing on improving the charging infrastructure in big cities to overcome this problem. Little awareness and unavailability of production and manufacturing infrastructure for mobility scooters in rural areas are some factors restraining market growth. In addition, inconsistent infrastructure and range anxiety are also creating challenges for mobility scooter market players.

 

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Mobility Scooter Market: Overview

  • Rise in geriatric population across the globe is likely to increase the demand for mobility scooters, which, in turn, is likely to propel the mobility scooter market.
  • Growing research and development to enhance the battery range is prompting consumers to buy mobility scooters, which is anticipated to boost the use of mobility scooters across the globe.

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

 

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