Portland, OR, October 7, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the electric scooter batteries market was set at $ 1.0 billion in 2020 and is expected to reach $ 7.3 billion by 2030, with a CAGR of 21.6% from 2021 to 2030.
The increase in electric vehicle infrastructure in several economies and increasing fuel prices have boosted the growth of the global electric scooter battery market. However, the potential threat associated with improper disposal of sealed lead acid batteries is hampering the market growth. On the contrary, the advent of lightweight Li-ion batteries presents new opportunities for market players in the years to come.
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- The Covid-19 pandemic has negatively affected the demand for electric scooter batteries due to its reliance on the transportation sector. According to a report published by the International Energy Agency, global road transport activity was reduced by around 50% at the end of March 2020 compared to March 2019.
- In addition, several companies have closed their operations due to the risk of infection among workers, which has reduced production volumes of electric scooter batteries during the pandemic.
- Falling business confidence, rising unemployment, falling income, and travel restrictions have hampered sales of electric scooters, leading to lower demand for electric scooter batteries.
The report segments the global electric scooter batteries market on the basis of analysis product type, capacity, and region.
Based on product type, Li-ion segment dominated the market in 2020, contributing almost half of the market. However, the segment is expected to post the highest CAGR of 23.5% during the forecast period. The report includes the analysis of other segments such as lithium iron phosphate (LFP) battery, lithium polymer (LiPo), sealed lead acid battery (SLA) and nickel metal hydride (NiMH) battery.
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On the basis of capacity, the 1000-1500 Wh segment held the largest share in 2020, accounting for over a third of the market. However, the 1500-2000 Wh segment is expected to register the highest CAGR of 24.8% during the forecast period.
The global electric scooter batteries market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the sharing the lion in 2020, representing around 97% of the market. In addition, the region is expected to have the highest CAGR of 21.7% from 2021 to 2030.
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Global Electric Scooter Battery Market includes in-depth analysis of major market players such as Contemporary Amperex Technology Co. Ltd., Hunan CTS Technology Co. Ltd., Dande Renewable Energy Pvt. Ltd., Maxvolt Energy, LG Energy Solution, Pure EV, Pastiche Energy Solutions, SmartPropel Lithium Battery, Samsung SDI Co. Ltd. and Xupai Battery Inc.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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