Chemical Research Report Electric-Scooter-Market | Page 2

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Automotive and transportation segment accounted for a major share in the global
energy consumption market, which is a major factor leading to increasing
CO2 emission. Owing to these factors, governments have implemented stringent
regulations regarding reducing carbon footprint and enhancing fuel efficiency, and
this is among key factors driving growth of the global electric scooter market. For
instance, the European Union has set emissions standards. EU Regulation No
443/2009 sets an average CO2 emission target for new passenger cars of 130
grams/kilometre. A target of 95 grams/kilometer will apply from 2021. According to
CIA World Factbook, conventional fuels, commonly referred to as the fossil fuels
such as coal, oil, and gas are expected to be exhausted by 2052, if the global
consumption of oil remains consistent with an annual oil consumption of over 11
billion tons. Therefore, stringent government rules and regulations towards
controlling the emission of harmful gases will positively help in propelling growth
of the market.
Lithium –ion battery segment is expected to account for the largest market
share during the forecasted period
Increasing prices of gasoline and diesel fuel is expected to be major factor for
increasing adoption of vehicles that are environment-friendly. Thus, increasing
demand for electric vehicles is one of the major factors for high demand for
lithium-ion battery. For instance, according to Coherent Market Insights’ analysis,
the annual sales of electric scooters as 542,000 Units in 2015, which witnessed an
increase to 850,000 Units in 2016. Moreover, another factor leading to increasing
demand for lithium-ion batteries is that the weight of the battery is very low as
compare to the other alternatives. This is expected to aid in increasing adoption of
lithium-ion batteries, which is in turn supporting growth of the market during the
forecasted period.
Global Electric Scooter Market: Regional Insights
The global electric scooter market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North