Mobility Scooters Market

Mobility Scooters Market Size (2023-2028):

The Global Mobility Scooters Market has been valued at US$ 1.76 billion in 2022 and it is expected to reach a high market capitalization of US$ 2.45 billion by 2028, and it is anticipated to grow with a healthy CAGR of 5.89% between 2023-2028.

Mobility scooters are multi-functional mobility aids that use an ether battery to provide those with limited mobility with the freedom and independence to go both outside and indoors. Three-wheel and four-wheel configurations are available for electric scooters. Older people with limited strength and balance are the primary users of these power scooters. Increasing R&D Activities and the New Product Approval Trend will Boost Growth. Mobility scooters are cutting-edge handicap aids that have proven to be effective in restoring freedom to persons with limited mobility. Assistive mobility scooters, like powered wheelchairs, are either battery-powered or electrically propelled. The product's features have significantly improved, including the addition of digital health monitoring peripherals such as USB ports and integrated tablets. Additionally, developers are concentrating on creating a solution that can connect many apps and mobile phones for ease of use. Previously, these scooters were unable to travel on sand or grass without assistance.

However, with the rising speed of scooters, new technology is being developed to bypass these obstacles. The latest technological developments in scooters include an increase in speed, allowing them to pass comfortably across uneven pavements and navigate sharp curves at speeds of up to 3.7 mph. These advancements are anticipated to entice more people to purchase innovative mobility scooters, propelling the market forward.

Market Drivers:

As individuals become more aware of innovative mobility technologies, the market will expand. The elderly population of the world is steadily expanding. As the geriatric population grows older, they are more likely to develop mobility challenges, which is expected to fuel market growth throughout the forecast period. The number of people who require these scooters is expected to increase as the world's disabled population grows. According to the United States government, 40% of Americans aged 65 and more have a mobility impairment, which means they have difficulties walking or standing.

Mobility impairment can be caused by a variety of factors, including congenital anomalies, accidents, orthopaedic disabilities, and neuromuscular issues. Due to fast-developing technological innovation in scooter designs and the release of several mobility goods, such as powered scooters, by major firms, mobility scooter sales are expected to grow in the long run.

Market Restraints:

High product costs are inhibiting market expansion. Mobility scooters provide a variety of mobility options for impaired persons, giving them independence, flexibility, and a convenient mode of transportation. However, because these products run on battery or electrical power, they are costly. Furthermore, the battery costs 30% of the price of the mobility scooter, resulting in pricey after-market purchases. The high cost of the products makes them expensive for people living in economically depressed countries, where expenditure on lifestyle-enhancing products is limited and reimbursement procedures are poor.

Market Recent Developments:

• Smart mobility provider Bounce has forayed into the competitive two-wheeler electric vehicle industry with the launch of its first consumer electric scooter, the Bounce Infinity E1.
• Trinity, a German electric mobility firm, has unveiled the Uranus RS, the latest version of their Uranus electric scooter. Scooters like this are quickly gaining popularity due to their low operating costs, low maintenance requirements, and government incentives for zero-emission vehicles.
• Log9 Materials, a Bengaluru-based advanced battery technology start-up, has partnered with Jitendra New EV Tech Pvt. Ltd., a Nashik-based electric vehicle manufacturer. Both firms have signed a Memorandum of Understanding (MOU) for a long-term partnership that will primarily focus on the development of an electric scooter known as the 'JMT 1000 HS Rapid' InstaCharged, which will be powered by Log9's cutting-edge InstaCharge technology.

MOBILITY SCOOTERS MARKET REPORT COVERAGE:

Market Segmentation:

Mobility Scooters Market - By Wheels:

• 3 Wheels.
• 4 Wheels.

4 Wheels segment is expected to have the dominant share in the Global Mobility Scooters Market During the Forecast Period. Growing acceptance of 4-wheeled powered scooters among the elderly, expanding spending capacity and affordability, and increased knowledge of the benefits of utilising them are all expected to enhance the segment's growth throughout the forecast period. The 4-wheel scooters provide better stability, are more durable, and are an ideal choice for use on roads and tough terrain, making them the favoured option for long-distance travel.

Mobility Scooters Market - By End-User:

• Personal Use.
• Institutional Use.

The personal Use segment is anticipated to possess the dominant share within the Global Mobility Scooters Market During the Forecast Period. this can be mostly due to the rising prevalence of mobility problems among the older population, which is predicted to drive the segment's growth in the future. During the projected period, a rise in awareness of the advantages of utilising scooters to regain mobility, specifically intended for private use, is predicted to manoeuvre the category forward. There are various lightweight scooters available, including the Travel Scoot, the world's lightest electric mobility scooter, which is employed by the elderly to travel large distances while also making it easier to lift several times on a daily basis. Mobility scooters for private use are projected to become more popular as a result of these advances. Furthermore, as many developing countries' economies grow, the purchasing power of those mobility assistive scooters for private use is predicted to rise during the projected period, boosting the segment's growth.

Market Regional Analysis:

The Global Mobility Scooters Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America is expected to have the dominant share in the Global Mobility Scooters Market During the Forecast Period. This is due to government programmes supporting the accessibility of high-end mobility products among those who require assistive mobility aid equipment. Furthermore, the region's market growth is expected to be boosted by an ageing population as well as a significant presence of important companies.

Europe is expected to have the next dominant share in the Global Mobility Scooters Market During the Forecast Period. Because of the increased popularity of scooters In the United Kingdom, roughly 300,000-350,000 mobility scooters were utilised, according to a report by Clin Med International Library. According to the survey, this number is predicted to climb as a result of the growing number of elderly people in numerous European countries, which is likely to encourage market expansion.

Asia-Pacific is expected to have rapid growth in the Global Mobility Scooters Market During the Forecast Period. Due to the increased popularity of scooters as assistive equipment among the population with lower extremity problems and the quickly growing senior patient population, Asia-Pacific is expected to develop at a high pace during the forecast period.

Market Key Players:

1. Afikim Electric Vehicles
2. Amigo Mobility International Inc.
3. Drive Medical Design and Manufacturing EV Rider LLC.
4. Excel Mobility
5. Golden Technologies Inc.
6. Hove round Corp.
7. Invacare Corporation
8. Medical Depot, Inc.
9. Merits Co. Ltd.
10. Pride Mobility Products