Foldable Electric Scooter Market Size to Hit US$900 Million Mark in 2030,

Folding Electric Scooters Gain Traction as Urban Mobility Gets a Compact Boost, Says a Recently Released Report by Fairfield Market Research. The Market is Witnessing Vibrant Competition Among Both Established Players like Segway and Xiaomi, and Budding Start-ups like Unagi, and Boosted.

London, Feb. 29, 2024 (GLOBE NEWSWIRE) — The foldable electric scooter market is revving up, fueled by a growing demand for sustainable and convenient urban transportation. With a projected CAGR of 4.8% between 2022 and 2032, this micromobility solution is expected to reach a market size of US$900 million by 2030-end, up from US$600 million attained in 2022. Fairfield Market Research, in its new report, forecasts a promising growth outlook for the global foldable electric scooter market during the period of 2023 – 2030.

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REPORT SCOPE

“These compact wonders can be easily folded and stored, making them ideal for commuting, running errands, or simply exploring the city. Their electric motors eliminate concerns about gas prices and emissions, contributing to a greener footprint. Moreover, with continuously improving battery range and performance, these scooters are becoming increasingly viable substitutes for short-distance car trips,” explains an analyst at Fairfield.

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The analyst says further, “Several factors are propelling market growth. Flexible and efficient transportation options are the need of the hour, and foldable electric scooters perfectly address these needs, offering portability, affordability, and eco-friendliness”.

The competition in this space is picking pace, leading to constant advancements in design, technology, and features. Several lighter, more powerful, and even self-balancing models are emerging, catering to diverse user preferences and needs. However, on the other side, challenges remain. Concerns about safety regulations, infrastructure development, and responsible riding practices need to be addressed.

In addition, the relatively high cost compared to traditional bicycles might deter some potential buyers. Despite these hurdles, the future of foldable electric scooters looks bright, suggests the report. As governments are increasingly investing in micromobility infrastructure, and technology continues to evolve, these versatile vehicles are poised to become a staple of urban transportation over the years to come.

For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/foldable-electric-scooter-market

Key Research Insights

• The global foldable electric scooter market is navigating a transformative journey, driven by evolving consumer preferences, and regional dynamics.

• As indicated by the report, while the two-wheel segment currently reigns supreme, the market is witnessing promising growth across three-wheel alternatives, varied weight categories, battery technologies, and voltage ranges.

• The regional frontiers, with Asia Pacific leading in e-mobility, and North America seeking urban convenience, further underscore the diverse dynamics shaping this burgeoning industry.

Insights into Segmentation Analysis

Two-Wheel to Lead, Three-Wheel Competitors Witness Rapid Rise

A closer look at market dynamics reveals that the two-wheel category triumphs while the sales of three-wheel counterparts will soar during the period of projection. In the dynamic landscape of foldable electric scooters, the two-wheel segment emerged as the unrivaled leader in 2022. The rise of electric scooters, with their zero emissions, marked a significant stride toward environmental sustainability. These nimble vehicles not only contribute to cleaner air but also provide a quick and efficient means of transportation, particularly in congested urban areas.

While the two-wheel category currently dominates, market projections suggest a rapid growth trajectory for the three-wheel segment. Electric scooters are hailed as time-saving alternatives, allowing…