Europe Personal Light Electric Vehicles Market was valued at USD 8.4 Billion in 2022 and is projected to reach USD 15.2 Billion by 2030, growing at a CAGR of 8.4% from 2024 to 2030.
The European personal light electric vehicles (PLEVs) market has experienced notable growth in recent years, reflecting a shift towards sustainable urban mobility solutions. PLEVs, encompassing e-scooters, e-bikes, and similar devices, have become integral to Europe's transportation landscape, offering efficient alternatives to traditional vehicles.
Market Overview
In 2023, the European light electric vehicle market was valued at approximately USD 4.4 billion and is projected to reach USD 9.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.6% during the forecast period. This upward trend underscores the increasing adoption of PLEVs across the continent.
Industry Requirements and Standards
The rapid proliferation of PLEVs has necessitated the establishment of comprehensive technical standards to ensure user safety and product reliability. The European Committee for Standardization (CEN) has been actively developing standards for personal transporters, referred to as 'personal light electric vehicles,' including both self-balancing vehicles and standing vehicles with maximum speeds of up to 25 km/h. The EN17128 standard, for instance, sets adequate technical requirements for the safety and structural integrity of e-scooters, serving as a regulatory basis in Europe. Additionally, the European Commission has acknowledged that existing legislation governing light electric vehicles was 'unsuitable,' prompting efforts to create more appropriate regulatory frameworks.
Challenges and Considerations
Despite the promising growth, the PLEV market faces challenges, particularly concerning regulatory harmonization across European countries. The absence of centralized legislation has led to varying national regulations, potentially creating barriers within the internal market. For example, Germany's Light Electric Vehicles Regulation, passed in 2019, legalized LEVs on public roads with specific limitations, such as a continuously rated power limit of 500 watts and speeds up to 20 km/h. Such disparities highlight the need for unified standards to facilitate seamless market operations.
Future Outlook
The future of the European PLEV market appears promising, with continuous advancements in technology and increasing consumer acceptance. However, achieving cohesive regulatory standards across Europe remains crucial. Aligning technical requirements and safety standards will not only enhance user confidence but also promote industry growth by eliminating market fragmentation.
In conclusion, the European personal light electric vehicles market is on an upward trajectory, driven by a collective move towards sustainable transportation. Addressing regulatory challenges and establishing uniform industry standards will be pivotal in sustaining this growth and ensuring the safe integration of PLEVs into Europe's urban mobility ecosystem.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Personal Light Electric Vehicles Market
Electric Bicycles
Electric Scooters
Electric Skateboards
Electric Unicycles
Electric Mopeds
Lead-Acid Batteries
Lithium-Ion Batteries
Lithium Polymer Batteries
Nickel-Metal Hydride Batteries
Daily Commuting
Recreational Use
Delivery Services
Tourism and Sightseeing
Last-Mile Connectivity
Young Adults (18-30 years)
Working Professionals (31-50 years)
Senior Citizens (50+ years)
Students
Eco-Conscious Consumers
Low-End Vehicles (Under $500)
Mid-Range Vehicles ($500 - $1500)
High-End Vehicles ($1500 and Above)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Personal Light Electric Vehicles Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Personal Light Electric Vehicles Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Personal Light Electric Vehicles Market, By Type
6. Europe Personal Light Electric Vehicles Market, By Application
7. Europe Personal Light Electric Vehicles Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Personal Light Electric Vehicles Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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