Global Personal Mobility Vehicle Market, By Type (Gasoline, Electric, Diesel), Application (Golf Courses, Airports, Hotels and Resorts, Industrial Facilities, Other), Power Output (<8 KW, 8 –15 KW, >15 KW) Industry Trends and Forecast to 2029.
Global Personal Mobility Vehicle Market Analysis and Size
In recent years, tourism industry has been emerging as an important consumer of personal mobility devices. Places of tourist visit are rapidly deploying use of bicycles and electric scooters. Advancements in manufacturing of personal mobility devices is being done owing to the advent of smart city initiatives across several regional pockets.
- The personal mobility vehicle market was valued at USD 12.36 billion in 2021 and is expected to reach USD 22.05 billion by 2029, registering a CAGR of 7.50% during the forecast period of 2022-2029. “Electric” is expected to witness high growth owing to the technological advancements. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Personal Mobility Vehicle Market Definition
Personal mobility vehicle assist in the human transportation individually. These vehicles could be powered or manual, typically utilized by individuals from mobility impairment for ambulation. Some of these devices include wheelchairs, canes, crutches, walkers and rollators.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Gasoline, Electric, Diesel), Application (Golf Courses, Airports, Hotels & Resorts, Industrial Facilities, Other), Power Output (<8 KW, 8 –15 KW, >15 KW)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Polaris Inc. (US), Textron Inc (US), Deere & Company. (US), The Toro Company. (US), Ingersoll-Rand plc (Ireland), Yamaha Motor Co., Ltd. (Japan), KUBOTA Corporation. (Japan), American Landmaster (US), Columbia Vehicle Group Inc. (US), AGT Electric Cars (Canada), Bintelli Electric Vehicles. (US), Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd (China), SpeedwaysElectric (India), Marshell Green Power (China), Garia A/S (Denmark), JH Global Services, Inc. (US), HDK Co.,Ltd. (Japan), Tropos Technologies Inc. (US), among others
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Market Opportunities
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Personal Mobility Vehicle Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
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Increase in Target Population
The increase in the number of target population across the globe acts as one of the major factor driving the growth of personal mobility vehicle market. The rise in number of accidents causing disabilities have a positive impact on the market.
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Prevalence of Chronic Diseases
The rise in the prevalence of chronic diseases, such as cancer, heart disease, stroke, diabetes, and arthritis accelerate the market growth. The conditions associated with these diseases are long-lasting, resulting in the continuous use of mobility aids
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Geriatric Population
The surge in geriatric population further influence the market as the elderly population are more prone to chronic diseases.
Opportunities
Furthermore, favorable reimbursement policies extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in technological advancements will further escalate the growth of personal mobility vehicle market.
Restraints/Challenges faced by the Personal Mobility Vehicle Market
On the other hand, unavailability of safety equipment and deployment of fail-safe electronic and electrical component are expected to obstruct market growth. Also, improved energy density of the electric vehicle batteries is projected to challenge the personal mobility vehicle market in the forecast period of 2022-2029.
This personal mobility vehicle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the personal mobility vehicle market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Personal Mobility Vehicle Market
The COVID-19 impacted personal mobility vehicle market owing to the nationwide lockdowns. The market faced various challenges to cope up with the demand and supply of personal mobility components during the pandemic. The market was negatively impacted due to the unavailability of human resources, and inconsistent and interrupted supply chain activities. However, demand for personal mobility vehicles was consistent from patients with chronic and physical disabilities as they require continuous assistance from caregivers or medical helpers. However, personal mobility vehicle market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Recent Developments
- 1800Wheelchair launched a new wheelchair brand, 'Feather Chair,' in September’2020. The launched product is composed of the lightest mobility products for seniors.
- Scottish designer Phoenix Instinct developed a lightweight wheelchair in December’2020. The wheelchair comes with a movable axle position that automatically adjusts the chair's center of gravity for preventing overbalancing.
Global Personal Mobility Vehicle Market Scope
The personal mobility vehicle market is segmented on the basis of type, power output, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Gasoline
- Electric
- Diesel
Personal mobility vehicle market on the basis of type has been segmented as gasoline, electric, and diesel.
Power Output
- <8 KW
- 8 –15 KW
- >15 KW
Based on power output, personal mobility vehicle market has been segmented into <8 KW, 8 –15 KW, and >15 KW.
Application
- Golf Courses
- Airports
- Hotels and Resorts
- Industrial Facilities
- Other
On the basis of application, personal mobility vehicle market has been segmented into golf courses, airports, hotels and resorts, industrial facilities and other.
Personal Mobility Vehicle Market Regional Analysis/Insights
The personal mobility vehicle market is analyzed and market size insights and trends are provided by country, type, power output, and application.
The countries covered in the personal mobility vehicle market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the personal mobility vehicle market because of the prevalence of age-associated diseases and rise in geriatric population within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rise in disposable income levels and surge in awareness in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Personal Mobility Vehicle Market Share Analysis
The personal mobility vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to personal mobility vehicle market.
Some of the major players operating in the personal mobility vehicle market are
- Polaris Inc. (US)
- Textron Inc (US)
- Deere & Company. (US)
- The Toro Company. (US)
- Ingersoll-Rand plc (Ireland)
- Yamaha Motor Co., Ltd. (Japan)
- KUBOTA Corporation. (Japan)
- American Landmaster (US)
- Columbia Vehicle Group Inc. (US)
- AGT Electric Cars (Canada)
- Bintelli Electric Vehicles. (US)
- Suzhou Eagle Electric Vehicle Manufacturing Co., Ltd (China)
- SpeedwaysElectric (India)
- Marshell Green Power (China)
- Garia A/S (Denmark)
- JH Global Services, Inc. (US)
- HDK Co.,Ltd. (Japan)
- Tropos Technologies Inc. (US)
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