The global Travel Mobility Scooter Market is estimated to be valued at US$822.4 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Travel mobility scooters are motorized scooters designed for personal indoor and outdoor mobility. They help physically challenged people to travel longer distances independently. They provide comfort and stability to users through their compact design and large wheels.
Market key trends:
Growing usage of lithium-ion batteries in mobility scooters is one of the key trends witnessed in the travel mobility scooter market. Lithium-ion batteries have higher power-to-weight ratio than lead-acid batteries, resulting in longer travel range on single charge. Their lightweight nature also makes mobility scooters easier to maneuver. Moreover, lithium-ion batteries have no memory effect and thus do not require regular charge-discharge cycles for optimal performance.
SWOT Analysis
Strength: Travel mobility scooters Market provide independent and convenient mobility to the elderly and disabled population who have difficulties walking. They are compact, lightweight and portable making them easy to transport.
Weakness: Travel mobility scooters have limited battery ranges and require frequent recharging. They also have restrictions on where they can be used such as stairs, uneven terrain etc. Replacement of batteries increases the overall ownership cost.
Opportunity: Rising elderly population globally is driving the demand for assistive devices for mobility. Growing medical tourism activities also provides business opportunities for travel mobility scooters rentals.
Threats: Strict regulations for use of mobility scooters on public footpaths and roads. Growing demand for advanced micro-mobility options like electric bikes and wheelchairs poses competition.
Key Takeaways
The global travel mobility scooter market is expected to witness high growth, exhibiting CAGR of 8.8% over the forecast period, due to increasing elderly population globally. Advanced countries have the largest populations aged 65 years and above which is driving the demand.
Regional analysis: North America dominated the travel mobility scooter market in 2023, accounting for over 35% of the global sales. Presence of supportive reimbursement policies and increasing obesity rates are increasing the demand. Asia Pacific is expected to be the fastest growing region due to rising medical tourism and growing healthcare infrastructure in emerging countries.
Key players operating in the travel mobility scooter market are Merits Health Products, Pride Mobility Products, Afikim Electric Vehicles, Invacare, Sunrise Medical, Roma Medical, Drive Medical, Golden Technologies, Hoveround Corp, Quingo, TGA Mobility, Electric Mobility, Van Os Medical, Kymco, Amigo Mobility, and Vermeiren. Players are focusing on expanding their product portfolio through new product launches and targeting emerging Asia Pacific and Latin American markets for higher growth.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
