Electric Transporters Market Outlook – 2027
Electric transport vehicle is used to transport goods and passengers for a short distance to reach the destination. The main aim of this multi-purpose vehicle is to save time and provide cost-effective vehicle transportation. An electric transporter has one or more electric motors for its propulsion and utilizes electrical energy, which is stored in rechargeable batteries. In addition, there are government initiatives for green transportation and attractive incentive policies for electric vehicles with significant investment in electric vehicle infrastructure. Therefore, these initiatives are expected to boost the electric transporter market during the forecast period.
COVID-19 scenario analysis:
- Gaining the same flow of goods in the market is certainly a major challenge due to slow restarting of operations. Plants and suppliers may have to wait for a long time to revive the demand.
- The impact of the pandemic is expected to affect the sales of automobiles in every country and the electric transporters market as well.
- The virus has destroyed the supply chains of many markets, which are estimated to take some time to revive.
- The safety and security feature has to be improved after the lockdown, which may have impact on the transporters market.
- Producers are cutting down the output due to increase in demand across the globe to counter the coronavirus pandemic.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Increase in consumer preference toward eco-friendly transportation and rise in fuel prices are the major factors that drive the growth of the market over the forecast period. Moreover, the low adoption rate of electric transporters due to factors, such as lack of awareness, required infrastructure, and high cost of the product, is expected to restrain the growth of the market. Furthermore, technological advancements and innovative product launches by manufacturers are expected to create lucrative opportunities for players operating in the electric transporters market over the forecast period.
The electric transporters market trends are as follows:
Increase in consumer preference toward eco-friendly transportation
Consumers look for cost-effective transportation options. Therefore, adoption of different electric vehicles is preferable as they are lightweight and convenient for short distance traveling. Increase in awareness of government initiatives for green transportation, attractive incentive policies for electric vehicles and significant investment in electric vehicle infrastructure in developing countries have created a major impact on customer buying behavior.
Rise in fuel prices
Consumption of fuel is massively increasing in almost every country, which could further increase the prices of fuel. Relaxation of consumers over natural resources is decreasing with the massive increase in prices. Therefore, this is expected to shift focus of many costumers toward electric-based vehicles, thereby boosting the electric transporters market.
Key benefits of the report:
- This study presents the analytical depiction of the electric transporters market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the electric transporter market share.
- The current market is quantitatively analyzed to highlight the electric transporters market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the electric transporters market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Electric Transporters Market Report Highlights
Key Market Players
Jiangsu Xinri E-Vehicle Co. Ltd., Terra Motors Corporation, KIWANO, Allcell Technologies LLC, Mahindra GenZe, BOXX Corp., Continental AG, Vmoto Limited, Hama GmbH & Co KG, BMW Motorrad International