Electric Scooter Market

Market Overview

The electric scooter market is rapidly expanding due to increasing urbanization, environmental concerns, and the growing need for efficient, eco-friendly transportation options. Electric scooters provide a convenient solution for navigating crowded city streets while minimizing environmental impact. As urban areas worldwide tackle traffic congestion and aim to lower carbon emissions, electric scooters are becoming an increasingly popular choice for both personal and shared mobility. Technological advancements are driving the growth of the electric scooter market. Innovations in battery technology, such as improved longevity and faster charging capabilities, have significantly enhanced the performance and practicality of electric scooters. Enhanced design features, including advanced braking systems, durable frames, and sophisticated control mechanisms, are making electric scooters more reliable, affordable, and appealing to consumers. These improvements are contributing to a surge in adoption and usage. The market’s growth is further supported by the development of infrastructure and favourable regulatory policies. Many cities are investing in dedicated scooter lanes and charging stations, creating a more accommodating environment for electric scooter users. Additionally, government incentives and policies aimed at promoting sustainable transportation are encouraging both consumers and businesses to adopt electric scooters. As these trends continue, the electric scooter market is set to grow further, driven by ongoing technological innovation, supportive infrastructure, and rising demand for environmentally friendly transportation solutions.

Electric Scooter Market Size

Report	Details
Market Size Value	USD 20.47 Billion in 2023
Market Size Value	USD 51.23 Billion by 2032
CAGR	12.01 %
Forecast Period	2024-2032
Base Year	2023
Historic Data	2020

Top key players are Allcell Technologies Llc, Bmw Motorrad International, Boxx Corp., Gogoro, Inc., Green Energy Motors Corp., Greenwit Technologies Inc., Honda Motor Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Ktm Ag, Mahindra Genze And Others. Market players are focusing on product advancements, such as user-friendly designs.

Increase in battery technology to enhance the driving range:

Advancements in battery technology are a key driver in the electric scooter market, significantly enhancing the driving range and performance of these vehicles. The development of high-energy-density lithium-ion batteries has enabled electric scooters to travel longer distances on a single charge. These improvements address one of the major limitations of earlier battery technologies, making electric scooters more practical for daily use and extended commutes. Enhanced battery technology also boosts the overall efficiency and user experience of electric scooters. Modern batteries are lighter and more compact, which reduces the scooter's overall weight while increasing its range. Improvements in energy management and faster charging capabilities further enhance convenience, allowing users to recharge more quickly and making electric scooters a more attractive option for a variety of riders, from casual users to daily commuters. The extended driving range made possible by these advancements encourages more widespread adoption of electric scooters. As battery performance improves, electric scooters become increasingly competitive with traditional modes of transportation, offering a more practical and appealing solution for urban mobility. This expanded range alleviates concerns about running out of power and broadens the potential applications for electric scooters, driving continued growth and acceptance in the market.

Market Dynamics

Drivers:

• Increase in battery technology to enhance the driving range
• Increasing emphasis on sustainable urban mobility solutions to boost market growth
• Rising in consumer acceptance of electric two-wheelers

Opportunities:

• Increasing expenditure in lightweight vehicles to increase control and reduce storage space requirements
• Rising demand for fuel-efficient scooters
• Government agencies supporting electric two-wheelers

Increasing expenditure in lightweight vehicles to increase control and reduce storage space requirements:

Increasing investment in lightweight vehicles presents a significant opportunity in the electric scooter market, as it enhances control and reduces storage space requirements. Lightweight design improves maneuverability and handling, allowing for a more responsive and enjoyable riding experience. By utilizing advanced materials and engineering techniques, manufacturers can create electric scooters that are not only easier to control but also more agile in urban environments. This is particularly valuable for users navigating through crowded city streets or making quick turns. The reduction in weight contributes to more efficient storage solutions. Lightweight electric scooters are easier to handle and store, making them more convenient for users who need to park or store their scooters in compact spaces. This can be especially beneficial in urban settings where storage space is limited. The ability to easily fold or stow a lightweight scooter in a small area adds to its practicality and appeal, meeting the needs of users living in apartments or other spaces with restricted storage options. The focus on lightweight vehicles also aligns with broader industry trends toward more sustainable and efficient transportation solutions. As manufacturers invest in technologies that reduce vehicle weight, they contribute to overall improvements in energy efficiency and performance. This trend not only supports the growing demand for eco-friendly transportation options but also opens up new opportunities for innovation in design and materials. As electric scooters become more lightweight and versatile, they are likely to see increased adoption and popularity, driving further growth in the market.

Asia-pacific dominates the market for electric scooter market:

The Asia-Pacific region leads the electric scooter market, propelled by rapid urbanization, technological progress, and a growing shift towards eco-friendly transportation. Countries like China, India, and Japan are at the forefront, with large populations and substantial investments in electric mobility infrastructure. The region’s emphasis on reducing pollution and alleviating traffic congestion has fueled widespread adoption of electric scooters, making them a popular choice for urban commuters seeking efficient and sustainable transportation solutions. Meanwhile, North America is emerging as an expanding market for electric scooters, driven by rising environmental awareness and technological advancements. In the United States and Canada, there is a growing interest in green transportation solutions, supported by favorable policies and incentives for electric vehicles. As cities across North America develop infrastructure such as charging stations and dedicated scooter lanes, the appeal of electric scooters is increasing among consumers looking for convenient and eco-friendly mobility options. Overall, while the Asia-Pacific region remains the dominant player in the electric scooter market, North America is showing notable growth. This expansion in North America highlights a broader trend towards sustainable transportation and innovation, driven by evolving consumer preferences and supportive infrastructure. Both regions are crucial to the continued development and diversification of the electric scooter market, each contributing to its global growth in distinct ways.

E-kick scooters and e-bikes is leading segment holds the largest market share:

In the electric scooter market, e-kick scooters and e-bikes are the leading segments, capturing the largest share and experiencing significant growth. Their popularity stems from their practicality, affordability, and ease of use, particularly in urban settings. These electric vehicles offer a convenient solution for short-distance travel and daily commuting, appealing to a wide range of consumers who are seeking efficient and environmentally friendly transportation options. As cities increasingly focus on sustainable transportation solutions, e-kick scooters and e-bikes continue to be the preferred choice. Electric motorcycles represent a notable segment within the market, although they cater to a more specific audience. These vehicles are known for their higher performance and longer range, making them ideal for users who need a more powerful option for extended commutes or recreational rides. Despite their growing appeal, electric motorcycles account for a smaller share of the market compared to e-kick scooters and e-bikes, due to their higher cost and more specialized use. Electric mopeds serve as a middle option between scooters and motorcycles, providing a balance of performance and range. They are suitable for users who need more power and speed than e-kick scooters but less than full-sized electric motorcycles. While electric mopeds are gaining traction, they still trail behind e-kick scooters and e-bikes in terms of overall market dominance. The diversity of electric mobility solutions reflects the various needs and preferences of consumers, driving continued growth and innovation in the market.

Major market segments:

• By Vehicle Type:
  • Electric Motorcycles
  • E-Kick scooters & Bikes
  • Electric Mopeds
     
• By Battery:
• Sealed Lead-acid
• Li-ion
• NiMH
   
• By Voltage:
• 24V
• 36V
• 48V
• Greater than 48V

• By Region:
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Chile
    • Peru
    • Rest of Latin America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • U.K.
    • BENELUX
    • CIS & Russia
    • Nordics
    • Austria
    • Poland
    • Rest of Europe
  • Asia Pacific

• China
• Japan
• South Korea
• India
• Thailand
• Indonesia
• Malaysia
• Vietnam
• Australia & New Zealand
• Rest of Asia Pacific
  • Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Nigeria
• Egypt
• Israel
• Turkey
• Rest of MEA

Recent Developments:

• In January 2024, Riley Scooter, a company based in Cambridge, unveiled plans to launch the RS3 Electric Scooter, a completely foldable electric scooter, in the United States at the Consumers Electronics Show in Las Vegas.
• In December 2023, Gogoro, a Taiwanese company, has launched the Gogoro CrossOver GX250, an electric scooter manufactured in India, for the Indian market. Providing Indian riders with a customized smart scooter is the company's aim. The release of these models signifies an important step for Komatsu to enter the electric scooter market in India.
• In September 2023, Bird, an important participant in the electric micro mobility sector, purchased Spin, a company that rents out electric scooters and e-bikes, for $19 million. This purchase has diminished competition for Bird and has helped the company uphold its leading position in the market.
• In March 2023, Yadea Technology Group Co, Ltd introduced its YADEA Fierider, YADEA VoltGuard Scooter, and YADEA Keeness Electric Motorcycle in Vietnam. These products boast top-notch quality and offer riders an outstanding experience, giving the company a competitive advantage.

Answers to Following Key Questions:

• What will be the electric scooter  market’s trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the electric scooter   market?
• What are the main forces behind worldwide electric scooter market? Which companies dominate electric scooter    market?
• Which companies dominate electric scooter market? Which business possibilities, dangers, and tactics did they embrace in the market?
• What are the global insight engines industry's suppliers' opportunities and dangers in electric scooter    market?
• What is the insight engines industry's regional sales, income, and pricing analysis? In the electric scooter market, who are the distributors, traders, and resellers?
• What are the main geographic areas for various trades that are anticipated to have astounding expansion over the electric scooter market?
• What are the main geographical areas for various industries that are anticipated to observe astounding expansion for electric scooter market?
• What are the dominant revenue-generating regions for electric scooter market, as well as regional growth trends?
• By the end of the forecast period, what will the market size and growth rate be?
• What are the main electric scooter market trends that are influencing the market's expansion?
• Which key product categories dominate electric scooter market? What is electric scooter    market’s main applications?
• In the coming years, which electric scooter  market technology will dominate the market?