According to the Global Mobility Scooter report, the mobility scooter market is expected to rise significantly between 2024 and 2031. Key players in the market have been using a number of strategies to help with their market growth, and increased demand around both commercial and residential mobility scooters is helping with this demand. In this article, we’re taking a look at the growth in use of mobility scooters, what’s driving this and what the future for the market looks like.
The Regions Leading The Global Market
There are a number of regions that are driving both sales and demand across the global market. These include North America (United States, Canada and Mexico), Europe (Germany, UK, France, Italy, Russia, and Turkey) and Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia, and Vietnam).
South America, and Middle East, and Africa are not far behind on the standings, with demand in countries like Brazil, Saudi Arabia, UAE, and South Africa growing substantially. It is, however Asia-Pacific that is expected to register the highest CAGR.
Market Value
The report states that in 2020, the global mobility scooter market was valued at $1.72 billion. By 2030, it is projected to reach a staggering $3.21 billion – a CAGR of 6.5%. The demand of mobility scooters that are equipped with advanced features and additional mechanisms to cope with a variety of terrains is one of the main factors driving this growth.
It is also expected that large scooters are expected to see the highest level of growth throughout the forecast period, with the ‘less than 10 miles’ segment expected to see significant growth also.
The Cause Of This Growth
There are a variety of factors that are leading to the significant rise in demand for mobility scooters of all shapes and sizes. One of the biggest causes is the impact of COVID-19. This is on both short-term and long-term health, as well as the unprecedented economic and healthcare challenge. With a pattern of intense lockdown periods and large inflation hikes since then, more users are becoming unable or unwilling to purchase vehicles – this leads in nicely to the growth of mobility scooters which can help individuals to regain their independence without the significant cost of car ownership.
The impact of long-COVID has also led to some of the industry’s growth, alongside other illnesses and diseases, with the need for mobility aids growing.
Smart Electric Scooters
Another main growth area for the industry is smart electric mobility scooters. This market in 2023 was projected to reach $13.7 billion – with projections that by 2032 this will hit $33.7 billion. As an eco-friendly and efficient mobility solution with advanced technologies, including IoT, the presence of smart electric scooters is only set for further growth. This is very likely to take off in rural and emerging markets in particular, which have currently unlocked market potential.
Conclusion
As you can see, there is a lot of potential within the mobility scooters market, with projected growth across both standard scooters and smart scooters set to rise. As demand continues to increase and the work-from-home trend leads to more need for compact vehicles that can be used indoors, the future outlook for the industry is certainly an exciting one.