March 4, 2024

Electric Scooters Market Size is Expected to Hit US$ 40.34 Billion by 2030

Precedence Research recently published a report titled “Electric Scooters Market – Global Industry Analysis, Trends, Regional Outlook, and Forecast 2021 – 2030”

The global electric scooters market size is projected to hit USD 9 billion by 2030 and is anticipated to grow with a healthy CAGR of 4% over the forecast period 2021-2030.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.

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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.

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

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.

Competitive Intelligence

The electric scooters market report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation, and so on.

Some of the key players in the global electric scooters market 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

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Precedence Research has segmented the global Electric Scooters Market report on the basis of product, battery, voltage, and region:

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

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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