Scooter Market Report, Top Players, CAGR, and Size by 2031
The scooter market is expected to register a CAGR of 6.3% during 2023–2031. The evolution of advanced technologies and growing electrification in the automotive sector is likely to remain a key trend in the market.
Scooter Market Analysis
- In urban cities, e-vehicles are becoming more and more common, allowing people to travel short distances affordably and swiftly, which is anticipated to have a positive impact on the scooter market globally.
- The growing environmental concerns and reducing carbon emission levels for the automotive sector are boosting the demand for the scooter market globally.
Scooter Market Overview
- The adoption of scooters, specifically e-scooters, is predicted to be driven by the rising demand for fuel-efficient vehicles as well as growing concerns over carbon emissions and greenhouse gas emissions over the forecast period.
- The market for scooters is being driven by strict government emission regulations, such as emission standards for greenhouse gas (GHG) emissions by developed and developing countries.
- Scooters are becoming more popular among consumers due to they are quieter, require less maintenance, and have a higher mechanical efficiency than their conventional counterparts.
- Additionally, the market for scooters is growing due to the fleet's inclusion in the shared mobility and vehicle rental ecosystems.
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Scooter Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Scooter Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Scooter Market Drivers and Opportunities
Supporting Government Policies for the Adoption of Electric Scooters to Favor the Market
- The growing government focus on mitigating carbon emissions from the automotive sector is anticipated to drive the demand for the scooter market at the global level.
- Governments of China, the US, and India have several policies and incentives that primarily boost the sales of electric scooters.
Customer Preference Toward Cost-Effective and Eco-Friendly Transportation Mode
- Urbanization, rising disposable income in developing markets, and technological advancements and performance are driving a significant shift in the automotive industry's growth.
- Commuters are choosing private transportation, such as motorbikes, over public transportation due to growing concerns about environmental preservation.
- Thus, the market for electric scooters is being driven by customer preference for environmentally friendly forms of transportation.
Scooter Market Report Segmentation Analysis
Key segments that contributed to the derivation of the scooter market analysis are type of scooters, components, size, and weight.
- Based on the type of scooter, the scooter market is travel/folding, pavement, and road.
- Based on components, the scooter market is divided into batteries, driver motors, electrical components, wheels, and others.
- Based on size, the scooter market is divided into classic, mid-size, and full-size.
- Based on weight, the scooter market is divided into heavyweight and lightweight.
Scooter Market Share Analysis by Geography
- The scooter market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering scooter market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the scooter market in these regions.
Scooter Market Report Scope
Scooter Market News and Recent Developments
The scooter market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the scooter market are listed below:
- Hero Electric announced it has entered into a long-term partnership with Maxwell Energy Systems for the supply of advanced battery management systems. Under the partnership, Maxwell will supply more than 10 lakh units of its battery management systems (BMS) over the next three years to Hero Electric. (Source: Heroelectric, Press Release, January 2023)
- Honda Motorcycle & Scooter India (HMSI) announced its Electric Vehicle roadmap, aimed at creating a healthy and sustainable EV market in India. The road map is a blueprint for developing EV business Structure in India, which includes new EV technologies and infrastructure. The company also announced its Future Business Direction for expansion of overseas business and production capacity in the upcoming financial year. (Source: Honda, Press Release, March 2023)
Scooter Market Report Coverage and Deliverables
The “Scooter Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Scooter market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Scooter market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Scooter market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the scooter market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global scooter market is expected to grow at a CAGR of 6.3% during the forecast period 2023 - 2031.
The rapid technological advancement in the automotive sector is one of the major factors driving the scooter market.
An increase in sales of electric vehicles is anticipated to play a significant role in the global scooter market in the coming years.
The leading players operating in the scooter market are Afikim Electric Vehicles, Amigo Mobility International, Inc., Golden Technologies, Hoveround Corporation, Yadea Technology Group Co. Ltd, Zhejiang Luyuan Electric Vehicle Co Ltd, Niu Technologies, Mahendra GenZe, Hero Electric, Vmoto Limited, Amper Vehicles, Govecs Group, BMW Motorrad International, and Gogoro Inc.
The report can be delivered in PDF/PPT format; we can also share an excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Scooter Market - By Type of Scooters
1.3.2 Scooter Market - By Components
1.3.3 Scooter Market - By Size
1.3.4 Scooter Market - By Wheels
1.3.5 Scooter Market - By Weight
1.3.6 Scooter Market - By Region
1.3.6.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SCOOTER MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER’S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. SCOOTER MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SCOOTER MARKET - GLOBAL MARKET ANALYSIS
6.1. SCOOTER - GLOBAL MARKET OVERVIEW
6.2. SCOOTER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE OF SCOOTERS
7.1. OVERVIEW
7.2. TYPE OF SCOOTERS MARKET FORECASTS AND ANALYSIS
7.3. TRAVEL/FOLDING
7.3.1. Overview
7.3.2. Travel/Folding Market Forecast and Analysis
7.4. PAVEMENT
7.4.1. Overview
7.4.2. Pavement Market Forecast and Analysis
7.5. ROAD
7.5.1. Overview
7.5.2. Road Market Forecast and Analysis
8. SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENTS
8.1. OVERVIEW
8.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
8.3. BATTERIES
8.3.1. Overview
8.3.2. Batteries Market Forecast and Analysis
8.4. DRIVER MOTORS
8.4.1. Overview
8.4.2. Driver Motors Market Forecast and Analysis
8.5. ELECTRICAL COMPONENTS
8.5.1. Overview
8.5.2. Electrical Components Market Forecast and Analysis
8.6. WHEELS
8.6.1. Overview
8.6.2. Wheels Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - SIZE
9.1. OVERVIEW
9.2. SIZE MARKET FORECASTS AND ANALYSIS
9.3. CLASSIC
9.3.1. Overview
9.3.2. Classic Market Forecast and Analysis
9.4. MID-SIZE
9.4.1. Overview
9.4.2. Mid-Size Market Forecast and Analysis
9.5. FULL-SIZE
9.5.1. Overview
9.5.2. Full-Size Market Forecast and Analysis
10. SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - WHEELS
10.1. OVERVIEW
10.2. WHEELS MARKET FORECASTS AND ANALYSIS
10.3. 2-WHEELS
10.3.1. Overview
10.3.2. 2-Wheels Market Forecast and Analysis
10.4. 3-WHEELS
10.4.1. Overview
10.4.2. 3-Wheels Market Forecast and Analysis
10.5. 4-WHEELS
10.5.1. Overview
10.5.2. 4-Wheels Market Forecast and Analysis
10.6. 5-WHEELS
10.6.1. Overview
10.6.2. 5-Wheels Market Forecast and Analysis
11. SCOOTER MARKET - REVENUE AND FORECASTS TO 2028 - WEIGHT
11.1. OVERVIEW
11.2. WEIGHT MARKET FORECASTS AND ANALYSIS
11.3. HEAVY WEIGHT
11.3.1. Overview
11.3.2. Heavy Weight Market Forecast and Analysis
11.4. LIGHT WEIGHT
11.4.1. Overview
11.4.2. Light Weight Market Forecast and Analysis
12. SCOOTER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
12.1. NORTH AMERICA
12.1.1 North America Scooter Market Overview
12.1.2 North America Scooter Market Forecasts and Analysis
12.1.3 North America Scooter Market Forecasts and Analysis - By Type of Scooters
12.1.4 North America Scooter Market Forecasts and Analysis - By Components
12.1.5 North America Scooter Market Forecasts and Analysis - By Size
12.1.6 North America Scooter Market Forecasts and Analysis - By Wheels
12.1.7 North America Scooter Market Forecasts and Analysis - By Weight
12.1.8 North America Scooter Market Forecasts and Analysis - By Countries
12.1.8.1 United States Scooter Market
12.1.8.1.1 United States Scooter Market by Type of Scooters
12.1.8.1.2 United States Scooter Market by Components
12.1.8.1.3 United States Scooter Market by Size
12.1.8.1.4 United States Scooter Market by Wheels
12.1.8.1.5 United States Scooter Market by Weight
12.1.8.2 Canada Scooter Market
12.1.8.2.1 Canada Scooter Market by Type of Scooters
12.1.8.2.2 Canada Scooter Market by Components
12.1.8.2.3 Canada Scooter Market by Size
12.1.8.2.4 Canada Scooter Market by Wheels
12.1.8.2.5 Canada Scooter Market by Weight
12.1.8.3 Mexico Scooter Market
12.1.8.3.1 Mexico Scooter Market by Type of Scooters
12.1.8.3.2 Mexico Scooter Market by Components
12.1.8.3.3 Mexico Scooter Market by Size
12.1.8.3.4 Mexico Scooter Market by Wheels
12.1.8.3.5 Mexico Scooter Market by Weight
12.2. EUROPE
12.2.1 Europe Scooter Market Overview
12.2.2 Europe Scooter Market Forecasts and Analysis
12.2.3 Europe Scooter Market Forecasts and Analysis - By Type of Scooters
12.2.4 Europe Scooter Market Forecasts and Analysis - By Components
12.2.5 Europe Scooter Market Forecasts and Analysis - By Size
12.2.6 Europe Scooter Market Forecasts and Analysis - By Wheels
12.2.7 Europe Scooter Market Forecasts and Analysis - By Weight
12.2.8 Europe Scooter Market Forecasts and Analysis - By Countries
12.2.8.1 Germany Scooter Market
12.2.8.1.1 Germany Scooter Market by Type of Scooters
12.2.8.1.2 Germany Scooter Market by Components
12.2.8.1.3 Germany Scooter Market by Size
12.2.8.1.4 Germany Scooter Market by Wheels
12.2.8.1.5 Germany Scooter Market by Weight
12.2.8.2 France Scooter Market
12.2.8.2.1 France Scooter Market by Type of Scooters
12.2.8.2.2 France Scooter Market by Components
12.2.8.2.3 France Scooter Market by Size
12.2.8.2.4 France Scooter Market by Wheels
12.2.8.2.5 France Scooter Market by Weight
12.2.8.3 Italy Scooter Market
12.2.8.3.1 Italy Scooter Market by Type of Scooters
12.2.8.3.2 Italy Scooter Market by Components
12.2.8.3.3 Italy Scooter Market by Size
12.2.8.3.4 Italy Scooter Market by Wheels
12.2.8.3.5 Italy Scooter Market by Weight
12.2.8.4 United Kingdom Scooter Market
12.2.8.4.1 United Kingdom Scooter Market by Type of Scooters
12.2.8.4.2 United Kingdom Scooter Market by Components
12.2.8.4.3 United Kingdom Scooter Market by Size
12.2.8.4.4 United Kingdom Scooter Market by Wheels
12.2.8.4.5 United Kingdom Scooter Market by Weight
12.2.8.5 Russia Scooter Market
12.2.8.5.1 Russia Scooter Market by Type of Scooters
12.2.8.5.2 Russia Scooter Market by Components
12.2.8.5.3 Russia Scooter Market by Size
12.2.8.5.4 Russia Scooter Market by Wheels
12.2.8.5.5 Russia Scooter Market by Weight
12.2.8.6 Rest of Europe Scooter Market
12.2.8.6.1 Rest of Europe Scooter Market by Type of Scooters
12.2.8.6.2 Rest of Europe Scooter Market by Components
12.2.8.6.3 Rest of Europe Scooter Market by Size
12.2.8.6.4 Rest of Europe Scooter Market by Wheels
12.2.8.6.5 Rest of Europe Scooter Market by Weight
12.3. ASIA-PACIFIC
12.3.1 Asia-Pacific Scooter Market Overview
12.3.2 Asia-Pacific Scooter Market Forecasts and Analysis
12.3.3 Asia-Pacific Scooter Market Forecasts and Analysis - By Type of Scooters
12.3.4 Asia-Pacific Scooter Market Forecasts and Analysis - By Components
12.3.5 Asia-Pacific Scooter Market Forecasts and Analysis - By Size
12.3.6 Asia-Pacific Scooter Market Forecasts and Analysis - By Wheels
12.3.7 Asia-Pacific Scooter Market Forecasts and Analysis - By Weight
12.3.8 Asia-Pacific Scooter Market Forecasts and Analysis - By Countries
12.3.8.1 Australia Scooter Market
12.3.8.1.1 Australia Scooter Market by Type of Scooters
12.3.8.1.2 Australia Scooter Market by Components
12.3.8.1.3 Australia Scooter Market by Size
12.3.8.1.4 Australia Scooter Market by Wheels
12.3.8.1.5 Australia Scooter Market by Weight
12.3.8.2 China Scooter Market
12.3.8.2.1 China Scooter Market by Type of Scooters
12.3.8.2.2 China Scooter Market by Components
12.3.8.2.3 China Scooter Market by Size
12.3.8.2.4 China Scooter Market by Wheels
12.3.8.2.5 China Scooter Market by Weight
12.3.8.3 India Scooter Market
12.3.8.3.1 India Scooter Market by Type of Scooters
12.3.8.3.2 India Scooter Market by Components
12.3.8.3.3 India Scooter Market by Size
12.3.8.3.4 India Scooter Market by Wheels
12.3.8.3.5 India Scooter Market by Weight
12.3.8.4 Japan Scooter Market
12.3.8.4.1 Japan Scooter Market by Type of Scooters
12.3.8.4.2 Japan Scooter Market by Components
12.3.8.4.3 Japan Scooter Market by Size
12.3.8.4.4 Japan Scooter Market by Wheels
12.3.8.4.5 Japan Scooter Market by Weight
12.3.8.5 South Korea Scooter Market
12.3.8.5.1 South Korea Scooter Market by Type of Scooters
12.3.8.5.2 South Korea Scooter Market by Components
12.3.8.5.3 South Korea Scooter Market by Size
12.3.8.5.4 South Korea Scooter Market by Wheels
12.3.8.5.5 South Korea Scooter Market by Weight
12.3.8.6 Rest of Asia-Pacific Scooter Market
12.3.8.6.1 Rest of Asia-Pacific Scooter Market by Type of Scooters
12.3.8.6.2 Rest of Asia-Pacific Scooter Market by Components
12.3.8.6.3 Rest of Asia-Pacific Scooter Market by Size
12.3.8.6.4 Rest of Asia-Pacific Scooter Market by Wheels
12.3.8.6.5 Rest of Asia-Pacific Scooter Market by Weight
12.4. MIDDLE EAST AND AFRICA
12.4.1 Middle East and Africa Scooter Market Overview
12.4.2 Middle East and Africa Scooter Market Forecasts and Analysis
12.4.3 Middle East and Africa Scooter Market Forecasts and Analysis - By Type of Scooters
12.4.4 Middle East and Africa Scooter Market Forecasts and Analysis - By Components
12.4.5 Middle East and Africa Scooter Market Forecasts and Analysis - By Size
12.4.6 Middle East and Africa Scooter Market Forecasts and Analysis - By Wheels
12.4.7 Middle East and Africa Scooter Market Forecasts and Analysis - By Weight
12.4.8 Middle East and Africa Scooter Market Forecasts and Analysis - By Countries
12.4.8.1 South Africa Scooter Market
12.4.8.1.1 South Africa Scooter Market by Type of Scooters
12.4.8.1.2 South Africa Scooter Market by Components
12.4.8.1.3 South Africa Scooter Market by Size
12.4.8.1.4 South Africa Scooter Market by Wheels
12.4.8.1.5 South Africa Scooter Market by Weight
12.4.8.2 Saudi Arabia Scooter Market
12.4.8.2.1 Saudi Arabia Scooter Market by Type of Scooters
12.4.8.2.2 Saudi Arabia Scooter Market by Components
12.4.8.2.3 Saudi Arabia Scooter Market by Size
12.4.8.2.4 Saudi Arabia Scooter Market by Wheels
12.4.8.2.5 Saudi Arabia Scooter Market by Weight
12.4.8.3 U.A.E Scooter Market
12.4.8.3.1 U.A.E Scooter Market by Type of Scooters
12.4.8.3.2 U.A.E Scooter Market by Components
12.4.8.3.3 U.A.E Scooter Market by Size
12.4.8.3.4 U.A.E Scooter Market by Wheels
12.4.8.3.5 U.A.E Scooter Market by Weight
12.4.8.4 Rest of Middle East and Africa Scooter Market
12.4.8.4.1 Rest of Middle East and Africa Scooter Market by Type of Scooters
12.4.8.4.2 Rest of Middle East and Africa Scooter Market by Components
12.4.8.4.3 Rest of Middle East and Africa Scooter Market by Size
12.4.8.4.4 Rest of Middle East and Africa Scooter Market by Wheels
12.4.8.4.5 Rest of Middle East and Africa Scooter Market by Weight
12.5. SOUTH AND CENTRAL AMERICA
12.5.1 South and Central America Scooter Market Overview
12.5.2 South and Central America Scooter Market Forecasts and Analysis
12.5.3 South and Central America Scooter Market Forecasts and Analysis - By Type of Scooters
12.5.4 South and Central America Scooter Market Forecasts and Analysis - By Components
12.5.5 South and Central America Scooter Market Forecasts and Analysis - By Size
12.5.6 South and Central America Scooter Market Forecasts and Analysis - By Wheels
12.5.7 South and Central America Scooter Market Forecasts and Analysis - By Weight
12.5.8 South and Central America Scooter Market Forecasts and Analysis - By Countries
12.5.8.1 Brazil Scooter Market
12.5.8.1.1 Brazil Scooter Market by Type of Scooters
12.5.8.1.2 Brazil Scooter Market by Components
12.5.8.1.3 Brazil Scooter Market by Size
12.5.8.1.4 Brazil Scooter Market by Wheels
12.5.8.1.5 Brazil Scooter Market by Weight
12.5.8.2 Argentina Scooter Market
12.5.8.2.1 Argentina Scooter Market by Type of Scooters
12.5.8.2.2 Argentina Scooter Market by Components
12.5.8.2.3 Argentina Scooter Market by Size
12.5.8.2.4 Argentina Scooter Market by Wheels
12.5.8.2.5 Argentina Scooter Market by Weight
12.5.8.3 Rest of South and Central America Scooter Market
12.5.8.3.1 Rest of South and Central America Scooter Market by Type of Scooters
12.5.8.3.2 Rest of South and Central America Scooter Market by Components
12.5.8.3.3 Rest of South and Central America Scooter Market by Size
12.5.8.3.4 Rest of South and Central America Scooter Market by Wheels
12.5.8.3.5 Rest of South and Central America Scooter Market by Weight
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. SCOOTER MARKET, KEY COMPANY PROFILES
14.1. AFIKIM
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. AMC LTD.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. AMIGO MOBILITY INTERNATIONAL, INC.
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. GOLDEN TECHNOLOGIES
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. HOVEROUND CORPORATION
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. PRIDE MOBILITY PRODUCTS CORP.
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. STARS N STRIPES SCOOTERS
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. TGA MOBILITY
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. VAN OS MEDICAL B.V.
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. VERMEIREN GROUP
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
The List of Companies
1. Afikim
2. Amc Ltd.
3. Amigo Mobility International, Inc.
4. Golden Technologies
5. Hoveround Corporation
6. Pride Mobility Products Corp.
7. Stars N Stripes Scooters
8. TGA Mobility
9. Van Os Medical B.V.
10. Vermeiren Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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