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Global Mobility Scooters Market to Grow at a CAGR of 6.43% During 2021-2026, Driven by Developments in Product Designs by the Leading Industry Players

According to a new report by EMR titled, ‘Global Mobility Scooters Market Report and Forecast 2021-2026’, the market attained a value of about USD 1.72 billion in 2020. The industry is further expected to grow at a CAGR of 6.43% in the forecast period of 2021-2026 to reach a value of nearly USD 2.5 billion by 2026.

North America is expected to hold a significant share in the overall market of mobility scooters over the forecast period. This can be attributed to the increasing prevalence of mobility disorders such as arthritis and other problems related to ageing amongst the geriatric populations. In addition to this, owing to the flourishing medical sector of countries like the US and Canada, governmental subsidies such as the Affordable Care Act in the United States, and thoughtful financial measures such as easy availability of credit is further augmenting the growth in the region. Advancements in product designs, including innovative designs and lightweight materials, are further expected to augment the market growth of mobility scooters in the coming years.

The market growth of mobility scooters is being driven by the development of advanced products by the leading market players such as Golden Technologies, Inc. (NSE: GOLDTECH) and Afikim Electric Vehicles Ltd. Afikim Electric Vehicles Ltd., a leading company in the global market for mobility scooters, offers a range of mobility electric scooters that offer high quality assurance standards and comply with the international standards. Sold under the name, Afisccoter, the mobility vehicles by Afikim Electric Vehicles Ltd. are available in stylish designs and are integrated with advanced technology to provide ease of operation. Keeping in view the safety and convenience of the driver, the mobility scooters offer adjustable suspension and orthopaedic seating to ensure a smooth, safe, and comfortable ride. In addition to this, the company offers a worldwide distribution network that offers local technical support and the highest standards of service. Hence, such developments by leading market players are invigorating the market growth of mobility scooters.

Market Analysis by Type, Range, Number of Wheels, and Region:

  • Based on type, the market can be divided into small (less than 110 cm), medium (110cm- 150 cm), and large (more than 150 cm).
  • On the basis of range, the market can be categorised into less than 10 miles, 10-20 miles, and more than 20 miles.
  • The market, based on number of wheels, can be classified into three-wheeler and four-wheeler.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing demand for battery-operated mobility scooters from the geriatric populations and people with mobility disorders is primarily driving the market growth.
  • Government investments into the medical sector, subsidies, and easy availability of finances for the procurement of mobility scooters is positively influencing the growth of the market.
  • The rising focus on electricity-driven vehicles amidst increasing concerns regarding global environmental degradation is propelling the adoption of mobility scooters, hence augmenting the market growth.
  • Integration of advanced technology such as Bluetooth, Wi-Fi, and GPS trackers, among others, are anticipated to invigorate the market growth over the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global mobility scooters industry for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for types, ranges, number of wheels, and major regions of mobility scooters.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global mobility scooters market are Afikim Electric Vehicles Ltd., Amigo Mobility International Inc., EV Rider LLC, Golden Technologies, Inc., and Quingo, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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