Global E-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 E-scooter battery is a power storage unit used to provide voltage (power) to the DC motor, controller, lights, and other scooter accessories. An electric scooter battery consists of one or more cells used to provide voltage (power) to different scooter accessories such as the DC motor, lights, and controller.
The global E-scooter battery market includes an in-depth analysis of the prime market players such as Contemporary Amperex Technology Co. Ltd., Hunan CTS Technology Co. Ltd., Dande Renewable Energy Pvt. Ltd., Maxvolt Energy, LG Energy Solution, Pure EV, Pastiche Energy Solutions, SmartPropel Lithium Battery, Samsung SDI Co. Ltd., and Xupai Battery Inc.
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Rise in electric vehicle infrastructure across several economies and increase in fuel prices have boosted the growth of the global electric scooter batteries market. However, potential threat associated with improper discarding of sealed lead-acid batteries hampers the market growth. On the contrary, advent of lightweight Li-ion batteries presents new opportunities for the market players in the coming years.
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 is expected to 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 e-scooter batteries; thus creating remunerative opportunities for the market.
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The E-scooter battery market is segmented on the basis of product type, capacity, and region.
Region wise, the e-scooter battery market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific electric scooter battery market size is projected to witness growth at the highest CAGR during the forecast period and accounted for 97.2% electric scooter battery market share in 2020. The Indian government has launched several schemes to provide subsidies on the purchase of electric scooters. For instance, the faster adoption and manufacturing of EV in the India phase 2 (FAME 2) scheme provides subsidies on the purchase of e-scooters. This is anticipated to increase the sales of electric scooters which in turn may propel the growth of the e-scooter battery industry in the Asia-Pacific region.
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