Impact of COVID-19 on the Global E-Scooters Market
Electric scooters or e-scooters are plug-in electric vehicles. These vehicles can be charged using an external source of electricity. The operating cost of electric scooters is less as compared to conventional ICE-powered vehicles. China is one of the largest producers of auto parts; however, the COVID-19 pandemic also originated in China and has now spread across the world, owing to which lockdowns have been imposed across several countries to contain the spread of the virus. The automotive industry has been impacted significantly due to the outbreak of COVID-19 and is currently facing several challenges. The pandemic has had a drastic impact both on the product demand as well as the supply chains in the automotive industry, with disruptions in the supply chains from China and a slump in demand for automotive products. Besides, the changes in consumer behavior owing to the economic crisis have created severe implications for the future growth of the industry.
The impact of the COVID-19 on the overall scooter industry is high due to the closure of manufacturing facilities, which has slowed down the production of vehicles. The disruptions in the distribution and final assembly and delays in product launches are also hindering the growth of the market. The lockdowns have resulted in the temporary closure of manufacturing plants and other businesses, which has ultimately decreased the sales of electric scooters in various countries. According to the MRFR analysis, Asia-Pacific holds the largest market share and vehicle charging infrastructure in emerging countries such as Taiwan and China, which are often considered manufacturing hubs for these vehicles. Post the pandemic, when the lockdowns are lifted in most of the countries, the resumption of manufacturing operations is expected to boost the production and sales of electric scooters.
Estimated Global Retail Sales of Electric Scooters and Bicycles, 2015–2020 (Units in Million)