Global Mobility Scooters Market to Witness Growth Through 2021, Owing to Favorable Incentives from the Government: Technavio

LONDON–(BUSINESS WIRE)–#Automotive—Technavio
market research analysts forecast the global
mobility scooters market to grow at a CAGR of more than 5%
during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the
global mobility
scooters market for 2017-2021. The report also classifies
mobility scooters based on the number of wheels into three types, which
are 3-wheelers, 4-wheelers, and 5-wheelers. With a share of close to
78%, the 4-wheeler mobility scooters segment dominated the global
mobility scooters market in 2016.

According to Siddharth Jaiswal, a lead analyst at Technavio for automotive
manufacturing research, “Increasing awareness of the
benefits and availability of different types of scooters, along with
favorable schemes and incentives from government and other private
healthcare associations, will result in the high adoption rate of
mobility scooters during the forecast period.”

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Technavio automotive
analysts highlight the following three market drivers that are
contributing to the growth of the global mobility scooters market:

• Favorable government grants and schemes
• Increased adoption of technologically advanced and cost-efficient
  products
• Expanding geriatric population base and growing incidences of road
  injuries

Favorable government grants and schemes

Most countries have been concentrating on improving their respective
healthcare sectors by adopting advanced technologies in each level.
Public and private healthcare agencies and associations have been
focusing on generating more awareness of the availability and benefits
of personal mobility aids, especially powered mobility aids. With this
backdrop, mobility aid products will benefit significantly from these
technology improvements and awareness programs in the coming years.

Currently, governments of many countries are coming up with various
initiatives, programs, incentives, and tax credits with an aim to
amplify the growth of the mobility aids market, especially for mobility
scooters. For instance, the US Affordable Care Act (ACA) provides
subsidies on mobility scooters for people with prolonged walking
difficulties.

“Many government bodies and private associations are also coming up
with various national training schemes in the mobility scooters space,
which will have a positive influence on the market’s growth rate in the
coming years,” says Siddharth.

Increased adoption of technologically advanced and cost-efficient
products

With the increased adoption of electric drivetrain cars, scooters, and
motorcycles, a wide range of electric drivetrain components such as
battery packs, controllers, motors, and power
electronics are available in the market today at low supplier
costs. This has allowed manufacturers of mobility products to sell their
offerings at lesser costs in comparison to previous years.

The past three years have witnessed a steep decline in the average price
of mobility scooters with new models being launched at a very low price
of USD 400. The average price of these scooters is USD 2,500, and the
average price of powered wheelchairs is also in this range. This
factor has been encouraging the adoption of advanced technology mobility
scooters over other mobility aid products such as powered and manual
wheelchairs, rollators, and crutches.

Expanding geriatric population base and growing incidences of road
injuries

As per the world aging population report by the UN, the geriatric
population base increased by 50% between 2000 and 2015. Aging and
age-related illnesses such as Parkinson’s disease, rheumatoid arthritis,
and osteoporosis significantly affect personal mobility. Hence, with the
expanding geriatric population base, the demand for powered mobility
solutions is likely to increase in the coming years.

Also, spine disorders, innate deformations, and knee injuries also
require mobility assistance. With the growing incidences of road
accidents and other near-fatal incidents, the demand for mobility
scooters will increase.

Browse Related Reports:

• Global
  Self-balancing Scooter Market 2016-2020
• Global
  Battery Market for E-scooters 2016-2020
• Global
  Lithium Ion Battery Market 2016-2020

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Technavio
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company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
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