Battery for e-scooters: Key market research findings
- Increasing renewable power generation boosts market growth
- Lead-acid batteries account for a majority of the market’s revenue
- Key vendors – Kingbopower Technology, Shenzhen OptimumNano Energy, Samsung SDI, Shenzhen Believe Technology, and Sunbright power
Technavio’s industry experts anticipate the global battery market for e-scooters to post a revenue of about $631 million by 2020. The growth of the market can be attributed to the increase in renewable power generation. The growing importance of renewable energy in addressing climate change and improving energy conservation has driven industry growth in the recent years. Wind power and solar power are the two widely used energy sources for renewable electricity generation. Because of its intermittent nature, generated power is stored in the battery for later use. As the power generated from renewable resources comes at a much lower cost, the e-scooter consumers can charge their vehicles at minimal expenses. In 2015, APAC accounted for around 81% of the overall market share to become the dominant shareholder in the global battery for e-scooter market. Concentration of Li-ion, NiMH, and lead-acid battery manufacturers coupled with the availability of raw materials and labor will spur further growth in the battery market for e-scooters in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the battery segments based on the type.
“Electric scooters are gaining momentum in the market, owing to their numerous benefits. One of the major benefits is that electric scooters don’t require a license to be ridden. They also do not require any registration or road tax. Any electric scooter that can reach a speed of 35mph does not require registration and license to ride. E-scooters that can reach speeds above 35mph require a license and registration,” says Thanikachalam Chandrasekaran, Lead Analyst, Energy, Technavio Research.
During 2015, the lead-acid segment led the global battery market for e-scooters by accounting for around 61% of the overall market revenue. Lead-acid batteries are the preferred choice for alternative batteries available in the market for E-scooters because of their reasonable price, in comparison to other batteries available. These batteries are inexpensive and easy to manufacture, capable of high discharge rates, and durable and provides dependable service when used correctly. The growing EV market, especially in China, is expected to augment the demand for lead-acid batteries, leading to the growth of this market segment.
The key vendors in the global battery market for e-scooters include Kingbopower Technology, Shenzhen OptimumNano Energy, Samsung SDI, Shenzhen Believe Technology, and Sunbright power. The market in China is the single largest in the global electric two-wheeler market, with more than 90% of the market share. It started mass producing indigenous E2Ws in 1998, with only a dozen manufacturers in the country. By 2010, China had about 2,000 manufacturers involved in the E2W industry. Some of the major vendors from China are Jiangsu Xinri E-Vehicle and Zhejiang Luyuan Electric Vehicle.
A more detailed analysis is available in the Technavio report, Global Battery Market for E-scooters 2016-2020.
We can customize reports by other regions and specific segments upon request.
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