Electric Scooter Market Outlook
The Global Electric Scooter Market was valued at US$ 24.67 billion in 2023 and is projected to reach US$ 50.78 billion by 2032, with a CAGR of 8.35% between 2024 and 2032.
The electric scooter market has grown significantly in recent years due to urbanization, environmental sustainability concerns, and the popularity of micro-mobility solutions. This market includes electric scooters for personal use, shared mobility services, and last-mile connectivity.
In the coming years, the adoption of electric scooters (or e-scooters) is expected to increase due to the growing demand for fuel-efficient vehicles and concerns about greenhouse gas and carbon emissions. Strict emission regulations from government bodies, such as China VI, India's BS-VI, and the United States Environmental Protection Agency's (EPA) standards for greenhouse gas emissions, are driving the electric scooter market.
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One of the primary drivers of the electric scooter market is the growing demand for sustainable and convenient transportation options in urban areas. With rising concerns over air pollution, traffic congestion, and carbon emissions, electric scooters offer an environmentally friendly alternative to traditional gasoline-powered vehicles. They produce zero tailpipe emissions and consume less energy than cars, making them an attractive option for eco-conscious commuters.
The rise of shared mobility services has also fueled the growth of the electric scooter market. Companies like Lime, Bird, and Spin have launched dockless electric scooter rental services in cities worldwide, offering users a convenient and affordable way to travel short distances. These shared electric scooters are often accessed through smartphone apps, allowing users to quickly locate, unlock, and pay for rides.
Technological advancements have played a crucial role in electric scooter development, improving performance, safety, and user experience. Modern electric scooters feature lightweight and durable construction, powerful motors, long-lasting batteries, and advanced braking systems. Some models are equipped with smart features such as GPS tracking, app connectivity, and regenerative braking, enhancing safety and convenience for riders.
Changing regulations and government support have also influenced the electric scooter market. Many cities have implemented laws to govern the operation of electric scooters, including speed limits, parking restrictions, and safety requirements. Some municipalities have introduced incentives and subsidies to encourage the adoption of electric scooters and other micro-mobility solutions as part of broader efforts to reduce traffic congestion and air pollution.
United States Electric Scooter Market
The USA's Electric Scooter Industry focuses on sustainability to develop its market and value. Charging electric two-wheelers is easier than electric cars and requires less infrastructure. Small projects have shown potential for electric two-wheelers in the US market, but there is a need for more widespread adoption and charging infrastructure. Increasing battery energy capacity is crucial for electric scooters to travel longer distances. Regulations should enforce the use of sustainable lithium batteries. Technological improvements are needed to make electric two-wheelers more affordable. In most US cities, electric scooters face similar challenges and offer comparable benefits. With urban travel on the rise, scooters are becoming a practical and efficient alternative to cars despite some limitations. The U.S. electric bike market continues to boom, according to the latest figures from the Light Electric Vehicle Association. According to LEVA's estimate, the U.S. imported nearly 790,000 electric two-wheelers in 2021, up from 463,000 in 2020.
Asia Pacific Electric Scooter Market
Due to rising fuel and diesel prices globally in the Asia-Pacific area and increased consciousness of the environmental benefits electric vehicles offer, the region is predicted to dominate the market. Furthermore, regional demand is anticipated to rise even more throughout the projection period due to government initiatives pertaining to e-mobility.
Electric Scooter Company Overview
Yadea Technology Group Co. Ltd., Niu Technologies, Mahindra, Vmoto Limited, Amper Vehicles, BMW Motorrad International, Gogoro Inc., Govecs Group, Hero Electric, Zhejiang Luyuan Electric Vehicle Co Ltd. are among the industry leaders in the Global Electric Scooter Market.
Electric Scooter Market News
In January 2024, Riley Scooter, a Cambridge-based company, proposed introducing the the RS3 Electric Scooter, a fully foldable electric scooter, in the U.S. at the Consumers Electronics Show in Las Vegas.
In February 2024 - Yamaha Motor Co., Ltd. announced that it had invested in World of River Limited, Inc. (hereinafter River), a startup that manufactures and sells electric scooters in India. This investment is for River's Series B round of funding through third-party allotment.
Voltage – Market breakup in 4 viewpoints:
- 24 V
- 36 V
- 48 V
- Greater than 48 V
Product – Market breakup in 3 viewpoints:
- Folding
- Standing/Self-Balancing
- Retro
Battery Type – Market breakup in 3 viewpoints:
- Li-ion
- Lead Acid
- Others
End Use – Market breakup in 2 viewpoints:
- Personal
- Commercial
Country – Market breakup of 25 Countries:
- North America
1.1 United States
1.2 Canada
- Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
- Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
- Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
- Middle East Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Product Portfolio Product Launch in Last 1 Year
- Revenue
Company Analysis:
- Yadea Technology Group Co. Ltd
- Niu Technologies
- Mahendra
- Vmoto Limited
- Amper Vehicles
- BMW Motorrad International
- Gogoro Inc.
- Govecs Group
- Hero Electric
- Zhejiang Luyuan Electric Vehicle Co Ltd
Related Reports:
United States Electric Vehicles Market
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