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.
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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 America held a dominant
position in the global electric scooter market in 2016, and is expected to retain its dominance
throughout the forecast period. This growth is attributed to growing stringency of regulatory
bodies towards reducing carbon footprint and emissions, and is also a major factor propelling
growth of the regional market. For instance, Corporate Average Fuel Economy (CAFÉ) Standards
in the U.S. is propagating adoption of energy efficient automotive by formulating regulations for
reduction of petroleum consumption and enhancing utilization of alternative fuel vehicles such as
hybrid vehicles. This in turn, creates a highly conducive environment for growth of the global
electric scooter market in this particular region.
Global Electric Scooter Market: Regional Insights
Leading players in the market are introducing innovative products, to cater to increasing
consumer demand. Global players are entering new markets in developing regions to expand
their customer base and strengthen their market presence. For instance, in January 2017,
Hyundai Motor Company launched the IONIQ Scooter at the 2017 Consumer Electronics Show
(CES) in Las Vegas, U.S. IONIQ Scooter is a light weight electrically-powered scooter. This launch
will help in gaining a competitive edge in the market of electric scooters.
Key players operating in the market include Honda Motor Co. Ltd., Brammo, Inc., AllCell
Technologies, LLC, Mahindra & Mahindra Ltd, Terra Motors Corporation, Yamaha Motor Company
Limited, Suzuki Motor Corporation, KTM AG, Peugeot Scooters, and Green Energy Motors Corp.