Electric Scooter Market Regional Analysis:
APAC Market Insights
Asia Pacific region is set to dominate around 58.8% market share by 2035, driven by rising demand for electric two-wheelers, increasing urbanization, and higher disposable income in the region. A report from 2022 stated that electric two-wheelers register a staggering 130% growth in 2021 in India. Further, the growing stances of traffic congestion, upsurge in carbon emission regulations, and growing urbanization in the region. For instance, in 2021, Mumbai's congestion level accounted nearly 54%, which represents that it took 54% longer time to get from one point to another than in a free-flow scenario. Increasing urbanization with advancements in lifestyle and rising living standards of people owing to more disposable income leads to economic growth in the region. The rising economic standards increase the spending capacity of people on trending goods including electric scooters, bikes, and dockless bikes, and it is expected to boost the market’s growth in the region. Moreover, the rising preference for electric scooters is attributed to their eco-friendly and convenient nature with less cost and high efficiency.
