From USD 626.8 million in 2022 to USD 806.3 million in 2032, the folding e-scooter market is predicted to grow at a CAGR of 2.6 percent.
The COVID-19 epidemic has had an impact on the broader automobile industry, which has slowed the expansion of the foldable e-scooter market. Government agencies’ tough emission laws, such as greenhouse gas (GHG) emission limits, are, nonetheless, boosting the folding e-scooter market share.
The adoption of folding e-scooters is being aided by increasing monetary and non-monetary incentives. The demand for sustainable urban mobility and modern transportation infrastructure is driving the move from traditional to electronic modes of transportation, as evidenced by the current folding e-scooter market trend. Electric scooters that fold are expected to improve energy security and air quality.
Cities all over the world are gearing up for a new era of urban mobility focused on the concept of deploying sustainable vehicles throughout the city to reduce traffic congestion and pollution, resulting in increased demand for foldable e-scooters.
The number of electric charging stations appears to be minimal in comparison to the number of electric vehicles on the road today. The sales potential of foldable e-scooters is being hampered by concerns about range.
Governments throughout the world have established policies to encourage the adoption of folding e-scooters by offering financial incentives to riders and chevaliers. Research and development activities are another important part of the folding e-scooter market’s growth.
Xiaomi Corporation, Pride Mobility Products Corp., Segway, Megawheel, GOTRAX, Shenzhen Iezway Technology, Spacepac Industries Pty Ltd, Turboant, E-Two, Hiboy, INOKIM, Glion, Razor, Mercane Wheels, XOOTR, and EcoReco.