Mobility Scooter Market: Current Analysis and Forecast (2022-2028)

Report Description

The mobility scooters Market is expected to grow at a strong CAGR of around 6-7% during the forecast period owing to the rising ageing population and disability among the ageing population. Peoples such as old age person or someone with some disability having a mobility issue can make their life miserable but the use of mobility scooters can get them around and opens up their world again facilitating them to move around, go shopping, visit friends and families and do many things that they used to do before and this has further been supported by the infrastructure where an increasing number of places are providing accessibility for those with mobility issues hence making use of mobility scooters even more convenient and stressfree. For instance, on Jan 2023, Moxon completes a pedestrian bridge along the Thames park the structure is going to reconnect a previously disconnected stretch of the Thames Path because of which pedestrians had to make a 500m detour around the railway bridge. It also provides better-lit and safer access to wheelchairs, mobility scooters and pushchairs.

Some of the major players operating in the market include Afikim Electric Vehicles; Bischoff and Bischoff; CHIEN TI ENTERPRISE CO.LTD; Comfort;  Di Blasi; Pride Mobility Products Corp; SHOPRIDER; Golden Technologies; FREERIDER CORP; Medical Depot, Inc.

Insights Presented in the Report

“Amongst size,  the mid sized mobility scooters held a prominent share of the market in 2021”

Based on the size, the market is segmented into small mobility scooters, mid sized mobility scooters, and heavy duty mobility scooters. Amongst these, the mid sized mobility scooters held the major share of the market in 2021. The market dominance of the mid sized mobility scooter is because of its advantage over others mid sized mobility scooters are more stable than small mobility scooters because of their dimension, they are also more spacious and more comfortable than small ones, also they have good accessibility even to narrow spaces and are easy to transport by folding or disassembling as opposed to heavy duty mobility scooters.

“Amongst a number of wheels, 4-wheeler mobility scooters held a dominating share of the market in 2021”

By the number of wheels type, the market is bifurcated into 3-wheeler and 4-wheeler. Among these, 4-wheeler mobility scooters captured a commendable share of the mobility scooters market in 2021 and are expected to grow at a strong CAGR during the forecasted period owing to reasons like 4-wheeler mobility scooters are more stable and stability helps people feel more secure and more comfortable and also safety is a major concern when it comes to old age people or people with some disability and 4-wheeler mobility scooter provides much safer ride than 3-wheeler mobility scooters, it can also handle rougher terrain and has more speed and gives more mileage.

Mobility Scooters Market Report Coverage

“Europe, to lead the growth during the forecasted period”

Europe is expected to grow at a substantial CAGR during the forecast period owing to the rising old age population of Europe and the rising obese population of Europe as well. Moreover, due to decreased mortality rate because of technological advancements in healthcare and the rising old age population of Europe with a large percentage of their population getting above 65 years of age and going to live for a further long period of time and also these people are retired and has very high spending power because of high per capita GDP of Europe these peoples have generated a very large corpus for their retirement hence they are going to spend on the conveniences and best quality medical facilities hence will fuel the growth of the mobility scooters market in the eurozone. For instance, according to the European commission,  Europeans over 65 already have a spending capacity of over EURO 3 trillion(USD 3.2 trillion) and this market segment is growing. With the rise in the number of older people, the number of people with age-related impairments is also growing, meaning the market for goods and services to minimise, manage and mitigate these impairments will become bigger. Euromonitor forecasts that the global spending power of those aged 60 and above will reach USD 15 trillion by 2020 also In Germany there is estimated purchasing power of EURO 316 billion(USD 337 billion) among the elderly

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global mobility scooters market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Mobility Scooters Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global mobility scooter market were the three major steps undertaken to create and analyze the adoption of mobility scooters in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global mobility scooters market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the mobility scooters market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the mobility scooters market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as size, wheels, use case, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the mobility scooters market. Further, we conducted factor analysis using dependent and independent variables such as size, wheels, end user and region of the mobility scooters market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the mobility scooters market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global mobility scooters market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the mobility scooters market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global mobility scooters market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global mobility scooters market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of size, wheels, end users,  and region in the global mobility scooters market.

The Main Objective of the Global mobility scooters Market Study

The current & future market trends of the global mobility scooters market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the mobility scooters market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of size, wheels, end-user, and region.
• Define and analysis of the regulatory framework for the mobility scooters industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the mobility scooters market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the mobility scooters market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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