Dublin, Nov. 24, 2021 (GLOBE NEWSWIRE) -- The "Electric Scooter Battery Market by Product Type, Capacity: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global electric scooter battery market was valued at $1.0 billion in 2020, and is projected to reach $7.3 billion by 2030, growing at a CAGR of 21.6% from 2021 to 2030.
An electric scooter battery is a power storage unit used to provide voltage (power) to the DC motor, controller, lights, and other scooter accessories. It is made up of individual cells and electronics called a battery management system that keeps it operating safely with high energy density and longevity.
Growth of the global electric scooter battery market is driven by increasing vehicle charging infrastructure in developed economies and escalating fuel prices. The dependency on lightweight electric vehicles is increasing rapidly owing to zero carbon emission, low operating and maintenance costs, and other factors.
Moreover, significant fiscal incentives spurred the uptake of light-duty electric vehicles; thus scaled up the growth of electronic vehicles and battery industries. This has led both government and key manufacturing companies to invest in building charging infrastructure to provide efficient and advanced charging facilities to customers.
For instance, according to a report published by International Energy Agency (IEA), the governments of countries such as China, the U.S., Switzerland, and others, have provided support for electronic vehicle charging infrastructure through measures such as direct investment to install publicly accessible chargers or incentives for EV owners to install charging points at home.
This may lead the customers to become more linear toward using electric scooters, which in turn may boost the growth of the electric scooters battery market during the forecast period.
The rapid growth in the transportation sector uses a lot of fuel that increases pollution and global warming. To promote the use of clean and energy-efficient vehicles lightweight lithium-ion (Li-ion) battery is used to provide voltage to the motor. It has high energy densities than other batteries and a smaller battery size makes it suitable for use in electric scooters. In addition, it uses lightweight lithium for the electrode instead of heavier graphite that enhances the mileage of electric scooters by reducing their overall weight.
Moreover, rising completion among key manufacturers of electric scooters has made them more linear toward using the lightweight lithium-ion battery for providing affordable and last-mile transportation. This is anticipated to increase the sales of lightweight lithium-ion electric scooter batteries; thus creating remunerative opportunities for the market.
Growing electrical vehicle infrastructure across various economies
Increasing fuel prices
Potential threat associated with improper discarding of sealed lead acid batteries (SLA)
Emergence of lightweight lithium-ion (Li-ion) battery to open up new opportunities
The global electric scooter battery market profiles leading players that include
Contemporary Amperex Technology Co. Ltd.
Dande Renewable Energy Pvt. Ltd.
Hunan CTS Technology Co. Ltd.
LG Energy Solution
Pastiche Energy Solutions
Samsung SDI Co. Ltd.
SmartPropel Lithium Battery
Xupai Battery Inc.
Key market segments
By Product Type
Lithium iron phosphate battery (LFP)
Lithium Polymer (LiPo)
Sealed Lead Acid Battery (SLA)
Nickel Metal Hydride Battery (NiMH)
100 - 500 Wh
500 - 1000 Wh
1000 - 1500 Wh
1500 - 2000 Wh
2000 Wh & Above
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/f7xwi5
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