This market study analyzes the market status, market share, growth rate, future trends, market drivers, opportunities, challenges, risks, entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Global Personal Mobility Vehicle market analysis report plays very essential role when it is about achieving an incredible growth in the business. It has been believed that the premium market research report is the one which is pertinent, unique, and creditable that employs proven tools and techniques to turn complex market insights into simpler version. Whether it is about renovating a business plan, preparing a presentation for a key client, or giving recommendations to an executive, Personal Mobility Vehicle market report will surely help to a degree.
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.
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Market Overview:
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.
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.
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)
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