April 18, 2024

The Global Travel Mobility Scooter Market is driven by growing geriatric population

Travel mobility scooters are portable, lightweight electric scooters that help aged and disabled people maintain independent mobility. Power-operated scooters aid travel both indoors and outdoors by providing comfortable seating and can carry moderate weights. These scooters come equipped with seating that is wide, deep, and comfortable along with easy to handle tiller controls. They help users easily navigate through various surfaces including paved sidewalks, grass lawns, store aisles, and more. The aging population prone to disabilities highly relies on mobility scooters to carry out day to day activities independently. As per United Nations reports, the global geriatric population is slated to double by 2050 and outnumber children.

The global travel mobility scooter market is estimated to be valued at US$8 billion in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the travel mobility scooter market is the growing demand for technologically advanced scooters with features like LED headlights, seat vibration, USB charging ports, anti-tip wheels for stability, etc. Manufacturers are focusing on incorporating innovative technologies to enhance comfort, convenience, and safety. For instance, some models are equipped with dual motors for climbing slopes easily and Bluetooth connectivity for updating firmware. Similarly, models with lithium-ion batteries providing longer travel ranges between charges are gaining traction. The adoption of advanced lithium-ion batteries is expected to positively influence the market growth over the forecast period.

Porter’s Analysis:

Threat of new entrants: Low – This market already has well established players and requires high capital to enter.

Bargaining power of buyers: High – Buyers have many alternatives and can choose between local and international brands easily.

Bargaining power of suppliers: Low – Suppliers are dependent on few key manufacturers for their operations. There are no major threats of forward integration too.

Threat of new substitutes: Medium – Alternatives like wheelchairs are present but have limited functionality compared to mobility scooters.

Competitive rivalry: High – Key players compete on the basis of product features, quality, pricing and innovation to gain market share.

Key Takeaways:

The global Travel Mobility Scooter market is expected to witness high growth. Wide availability and growing application across age groups will drive demand over the forecast period. Increased fitness consciousness and aging population will further support market expansion. The global travel mobility scooter market is estimated to be valued at US$8 billion in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period from 2023 to 2030.

Regional analysis: North America led by US currently holds the largest share. Growth in Europe has been steady supported by favorable policies. Asia Pacific is expected to be the fastest growing market with India and China driving volumes. Rising medical tourism and fitness trends will propel demand in developing nations.

Key players: Key players operating in the Travel Mobility Scooter market are Pride Mobility Products Corp, Invacare, Golden Technologies, Healthcare Mobility, Afikim Electric Vehicles and Shoprider. The market remains fairly competitive with these players innovating products to gain market share.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it