Feb 01, 2022, 07:30 ET
ALBANY, N.Y., Feb. 1, 2022 /PRNewswire/ -- The mobility scooter market is estimated to expand at a CAGR of 6.44% during the forecast period from 2021 to 2031, says a recent market research study by TMR. The revival of the automotive industry, including the mobility scooter segment after the economic slump due to COVID-19 is attracting sales in the mobility scooter market.
Furthermore, manufacturers of mobility scooters are re-establishing their business and shifting focus toward innovation to recover from the losses incurred during the pandemic. Relaxation on movement of individuals for economies to revive is also creating opportunities in the mobility scooter market.
North America and Europe are prominent regions in the mobility scooter market. Significant role of governments in North America to promote the use of mobility scooters, along with the availability of subsidies to purchase these vehicles is favorable for the growth of the mobility scooter market in the region. Europe held a key share of the mobility scooter market in the recent past. Large volume manufacture of mobility scooters in the U.K. contributes to the growth of the mobility scooter market in Europe.
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Mobility Scooter Market – Key Findings of Report
- Demand for mobility scooters among the disabled population due to their excellent features of comfort, maneuverability, and convenience is creating ample opportunities in the mobility scooter market. Favorable schemes for the purchase of mobility scooters such as the Affordable Care Act in the U.S. that offers subsidies is leading to elevated sales of these vehicles.
- Rising awareness to reduce pollution associated with fossil fuel vehicles is leading to a shift toward electric vehicles. Role of governments and environmentalists to promote the advantages of electric vehicles coupled with rising demand for energy conserving vehicles impels growth of the mobility scooter market.
- Sales growth in the mobility scooter market benefits from advancements in battery technology, along with development of innovative batteries for use in electronic vehicles. Advanced batteries help improve the range of mobility scooters by reducing the overall weight and reducing the time required to charge the vehicle. Development of lithium-ion batteries and zinc-manganese oxide is helping to improve the overall performance of mobility scooters.
- Demand for four-wheel mobility scooters is anticipated to be at the fore among other vehicle types in the mobility scooter market
- Desire of consumers to travel on mobility scooters with good power range accounts for 10-20 miles battery range segment to hold a key share of the mobility scooter market in the recent past
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Mobility Scooter Market – Growth Drivers
- Significant role of governments to promote the use mobility scooters among disabled and geriatric population fuels the growth of the mobility scooter market
- Rising shift toward electric vehicles to support environment conservation goals stimulates the adoption of mobility scooters
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Mobility Scooter Market – Key Players
Some of the key players operating in the mobility scooter market are;
- Afikim Electric Vehicles
- Golden Technologies Inc.
- Drive Medical design and Manufacturing EV Rider LLC
- Invacare Corporation
- Merits Co. Ltd.
- WHILL Inc.
- Amigo Mobility International Inc.
- Excel Mobility
- Hoveround Corp.
- Medical Depot Inc.
- Pride Mobility Products
- Sunrise Medical
Global Mobility Scooter Market: Segmentation
- Mobility Scooter Market, by Type
- Small (Less than 110 Cm)
- Medium (110-150 Cm)
- Large (More than 150 Cm)
- Mobility Scooter Market, by Application
- Mobility Scooter Market, by Number of Wheels
- Three Wheel
- Four Wheel
- Mobility Scooter Market, by Battery Range
- Less than 10 Miles
- 10-20 Miles
- More than 20 Miles
- Mobility Scooter Market, by End-user
- Personal Use
- Institutional Use
- Mobility Scooter Market, by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
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