by The electric scooters market size is expected to surpass around US$ 88.75 billion by 2032 from USD 33.72 billion in 2022 and is anticipated to grow at a CAGR of 10.16% from 2023 to 2032.
Key Takeaway
- North America electric scooters market is anticipated to grow at a registered CAGR of 12.7% 2022 to 2030.
- By product, the retro segment has contributed highest market share 53% in 2022.
- The folding variant product segment is anticipated to reach at a CAGR of 10.6% from 2022 to 2030.
- The sealed lead-acid battery segment has garnered 63% market share in 2021.
- The lithium-ion battery segment is anticipated to hit at a CAGR of 10.4%.
- By voltage, the 36V segment has accounted highest market share 62% in 2021.
- The greater than 48V segment is anticipated to grow at a CAGR of 11.6% from 2022 to 2030.
Electric scooter is a device that weighs less than one hundred pounds and consists of handlebars that is powered by an electric motor. The e-scooter has a maximum speed of twenty miles per hour. The device is gaining significant popularity in the developing markets owing to low cost and high usability while traveling short distance. Further, middle-class population prefers such vehicles in order to adopt an environment-friendly mode of commutation in lower cost compared to other electric mobility solutions.
Growth Factors
Increasing rate of deterioration of old form of energy that include coal, petroleum, and natural gas have prominently propelled the era of electrically charged alternatives. Further, increasing necessity for eco-friendly vehicles because of alarming rise in the carbon footprint and ozone layer depletion are some of the major factors that drive the global market for electric scooters.
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Moreover, increasing adoption of sharing services for electric scooters in countries such as USA, Spain, France, and Germany are likely to again spur the adoption rate of electric scooters in the near future. Various companies procure electric scooters from their manufacturers to offer e-scooter sharing services such as Lime, Razor, Bird, Spin, and Jump procure e-scooters from Gogoro,Xiaomi, and Ninebot-Segway to offer such services across USA and other countries. As the penetration of ride sharing services is rising exponentially, this in turn prospers the market growth for electric scooters over the upcoming period.
Increasing non-monetary and monetary incentives encourage the adoption of battery-powered two-wheelers. Furthermore, the need for modern transportation infrastructure along with sustainable urban mobility drives the switch from conventional to electric alternatives of transport. E-scooters are predicted to have a significant positive influence on air quality and energy security.
Governments across the world have formulated various policies to spur the penetration of e-scooters by offering different benefits to the consumers along with the manufacturers in form of subsidies and tax benefits. The global market for electric scooters is also supported by the research &development initiatives. For instance, the Corporate Average Fuel Economy (CAFÉ) standards in the USA estimated to rise the adoption rate of energy-efficient vehicles by framing regulations to enhance the demand for alternative fuel powered vehicles as well as reduce the consumption of fossil fuel.
Report Highlights
- The Asia Pacific dominated the global electric scooters market with a revenue share of more than 70% in the year 2020 owing to large production and consumption capacity of electric scooters in the region
- North America witnessed the highest growth over the upcoming time frame because of rising investment for building supportive infrastructure for electric scooters
- Based on product, retro electric scooters captured the majority of revenue share in the year 2020 because of rapid transition in the consumer demand for green mobility solutions
- The Sealed Lead Acid (SLA) dominated the global electric scooters market in the year 2020 and accounted for a revenue share of more than 60% because of various benefits offered by the battery such as tolerance, robustness, and low cost
- 36V type in voltage segment held majority of revenue share of over 63% in the year 2020 owing to its high compatibility with electric scooters
Electric Scooters Market Scope
| Report Coverage | Details |
| Market Size | USD 88.75 Billion by 2030 |
| Growth Rate | CAGR of 10.16% from 2023 to 2032 |
| Base Year | 2022 |
| Historic Data | 2019 to 2021 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Voltage, Battery, Product |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, MEAN |
Regional Snapshots
The Asia Pacific is the front-runner in the global electric scooters market accounting for a revenue share of over 70% in the year 2019 and estimated register significant growth over the forecast period. This is mainly because of prominent market concentration in the region as major manufacturers have emerged from China, Taiwan, and Japan. China capture a leading share in the total market for e-scooters in terms of both production, consumption, and export. Several government policies to transform the mobility into green and eco-friendly by the year 2030 have also empowered the significant growth of e-scooters in China. On the contrary, North America and Europe witness prominent growth in the global electric scooters market owing to rapid infrastructure development for supporting e-mobility solutions.
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Key Players & Strategies
The prominent market participants focus intensely on the research & development activities as well as various other product development strategies to gain a competitive edge in the global market. Further, these companies also focus towards collaborating or partnering with ride sharing service provider companies to impel the future growth of electric scooters sharing services. In addition, rising concern for environment protection also drives the trend for ride sharing that offers lucrative opportunity for the market players to tap the significant market penetration in ride sharing for e-scooters.
Some of the prominent players include:
- Gogoro Inc.
- AllCell Technologies LLC
- BMW Motorrad International
- BOXX Corp.
- Green Energy Motors Corp.
- Honda Motor Co. Ltd.
- Greenwit Technologies Inc.
- Jiangsu Xinri E-Vehicle Co., Ltd.
- Mahindra GenZe
- KTM AG
- Peugeot Scooters
- Terra Motors Corporation
- Suzuki Motor Corporation
- Vmoto Limited
- Yamaha Motor Company Limited
- Yadea Technology Group Co. Ltd.
- Xiaomi
- Bird
- Ninebot Limited
- Lime
- Spin
Segments Covered in the Report
By Product Type
- Standing/Self-Balancing
- Retro
- Folding
By Battery Type
- NiMH
- Sealed Lead Acid
- Li-ion
By Voltage Type
- 24V
- 36V
- 48V
- Greater than 48V
By Regional Type
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Electric Scooters Market, By Product
7.1. Electric Scooters Market, by Product, 2023-2032
7.1.1. Standing/Self-Balancing
7.1.1.1. Market Revenue and Forecast (2020-2032)
7.1.2. Retro
7.1.2.1. Market Revenue and Forecast (2020-2032)
7.1.3. Folding
7.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 8. Global Electric Scooters Market, By Battery
8.1. Electric Scooters Market, by Battery, 2023-2032
8.1.1. NiMH
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Sealed Lead Acid
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Li-ion
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Electric Scooters Market, By Voltage
9.1. Electric Scooters Market, by Voltage, 2023-2032
9.1.1. 24V
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. 36V
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. 48V
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Greater than 48V
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Electric Scooters Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.2. Market Revenue and Forecast, by Battery (2020-2032)
10.1.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.4.2. Market Revenue and Forecast, by Battery(2020-2032)
10.1.4.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.1.5.2. Market Revenue and Forecast, by Battery (2020-2032)
10.1.5.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.2. Market Revenue and Forecast, by Battery (2020-2032)
10.2.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.4.2. Market Revenue and Forecast, by Battery (2020-2032)
10.2.4.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.5.2. Market Revenue and Forecast, by Battery (2020-2032)
10.2.5.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.6.2. Market Revenue and Forecast, by Battery (2020-2032)
10.2.6.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2020-2032)
10.2.7.2. Market Revenue and Forecast, by Battery (2020-2032)
10.2.7.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.2. Market Revenue and Forecast, by Battery (2020-2032)
10.3.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.4.2. Market Revenue and Forecast, by Battery (2020-2032)
10.3.4.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.5.2. Market Revenue and Forecast, by Battery (2020-2032)
10.3.5.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.6.2. Market Revenue and Forecast, by Battery (2020-2032)
10.3.6.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
10.3.7.2. Market Revenue and Forecast, by Battery (2020-2032)
10.3.7.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.2. Market Revenue and Forecast, by Battery (2020-2032)
10.4.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.4.2. Market Revenue and Forecast, by Battery (2020-2032)
10.4.4.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.5.2. Market Revenue and Forecast, by Battery (2020-2032)
10.4.5.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.6.2. Market Revenue and Forecast, by Battery (2020-2032)
10.4.6.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
10.4.7.2. Market Revenue and Forecast, by Battery (2020-2032)
10.4.7.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.2. Market Revenue and Forecast, by Battery (2020-2032)
10.5.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.4.2. Market Revenue and Forecast, by Battery (2020-2032)
10.5.4.3. Market Revenue and Forecast, by Voltage (2020-2032)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2020-2032)
10.5.5.2. Market Revenue and Forecast, by Battery (2020-2032)
10.5.5.3. Market Revenue and Forecast, by Voltage (2020-2032)
Chapter 11. Company Profiles
11.1. Gogoro Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. AllCell Technologies LLC
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. BMW Motorrad International
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. BOXX Corp.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Green Energy Motors Corp.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Honda Motor Co. Ltd.
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Greenwit Technologies Inc.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Jiangsu Xinri E-Vehicle Co., Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Mahindra GenZe
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. KTM AG
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
11.11. Peugeot Scooters
11.11.1. Company Overview
11.11.2. Product Offerings
11.11.3. Financial Performance
11.11.4. Recent Initiatives
11.12. Terra Motors Corporation
11.12.1. Company Overview
11.12.2. Product Offerings
11.12.3. Financial Performance
11.12.4. Recent Initiatives
11.13. Suzuki Motor Corporation
11.13.1. Company Overview
11.13.2. Product Offerings
11.13.3. Financial Performance
11.13.4. Recent Initiatives
11.14. Vmoto Limited
11.14.1. Company Overview
11.14.2. Product Offerings
11.14.3. Financial Performance
11.14.4. Recent Initiatives
11.15. Yamaha Motor Company Limited
11.15.1. Company Overview
11.15.2. Product Offerings
11.15.3. Financial Performance
11.15.4. Recent Initiatives
11.16. Yadea Technology Group Co. Ltd.
11.16.1. Company Overview
11.16.2. Product Offerings
11.16.3. Financial Performance
11.16.4. Recent Initiatives
11.17. Xiaomi
11.17.1. Company Overview
11.17.2. Product Offerings
11.17.3. Financial Performance
11.17.4. Recent Initiatives
11.18. Bird
11.18.1. Company Overview
11.18.2. Product Offerings
11.18.3. Financial Performance
11.18.4. Recent Initiatives
11.19. Ninebot Limited
11.19.1. Company Overview
11.19.2. Product Offerings
11.19.3. Financial Performance
11.19.4. Recent Initiatives
11.20. Lime
11.20.1. Company Overview
11.20.2. Product Offerings
11.20.3. Financial Performance
11.20.4. Recent Initiatives
11.21. Spin
11.21.1. Company Overview
11.21.2. Product Offerings
11.21.3. Financial Performance
11.21.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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