USD 30.18 billion
Electric Scooter Market Size, Share, Growth Analysis, By Battery Technology(Sealed Lead Acid, Lithium-ion), By Distance Covered(Below 75 miles, 75 – 100 miles), By Voltage(24V, 36V), By Technology(Plug-in and Battery), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25C2095 |
Region:
Global |
Published Date: July, 2024
Pages:
222
|Tables:
94
|Figures:
76
Electric Scooter Market Insights
Electric Scooter Market size was valued at USD 33.17 Billion in 2023 and is poised to grow from USD 36.45 Billion in 2024 to USD 77.57 Billion by 2032, growing at a CAGR of 9.9% during the forecast period (2025-2032).
Electric motorbikes and scooters are two- or three-wheeled vehicles, which are powered by a plug-in electric. A rechargeable battery can power one or more electric motors. In the forecast period, growing concern about greenhouse gas and carbon emissions, coupled with demand for fuel-efficient autos, is expected to drive the adoption of electric scooters or e-scooters. Some of the key drivers for the market include increasing environmental concerns, increasing adoption of electric motorbikes and e-bikes for travel over small distances, and increasing investments by ride-hailing companies into the micro mobility space. Connected e-Bikes trend and increasing efforts from OEMs towards building light-weight bikes will present enormous attractive opportunities for market players. Also, the upsurge in ride-sharing and rental services could explain why electric scooters have become so popular, as they are becoming increasingly accessible to a more significant number of users. Indeed, such services introduce an interesting flexible transportation option to people who would want to use a scooter for an occasional trip or who might not want to purchase it outright. Advances in battery technology and efficiency in electric motors have greatly improved performance and ranges of electric scooters, which increases the appeal to consumers. The industry is growing because electric scooters provide a competitive alternative to conventional gasoline-powered vehicles, which will drive further advancements in better battery life and rapid charging times.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
lead-acid
Fastest Growth
lithium-ion
Growth Rate
9.9% CAGR
Country Share for North America Region (%)
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Electric Scooter Market Segmental Analysis
Global electric scooter market is segmented based on battery technology, distance covered, voltage, technology, vehicle class, vehicle type, motor type, motor power and region. Based on battery technology, the market is segmented into Sealed Lead Acid, Lithium-ion, Nickel Metal Hydride and Sodium-ion. Based on distance covered the market is segmented below 75 miles, 75 – 100 miles and above 100 miles. Based on voltage, the market is segmented into 24V, 36V, 60V, 72V and above 72V. Based on technology the market is segmented into plug-in and battery. Based on vehicle class the market is segmented into economy and luxury. Based on vehicle type the market is segmented into e-scooters/moped and e-motorcycles. Based on usage the market is segmented into private and commercial. Based on motor type the market is segmented into mid-drive motors and hub motors. Based on motor power the market is segmented into less than 1.5 KW, 1.5-3 KW and above 3 KW. Based on region, the market is segmented into North America, Asia Pacific, Europe, Latin America and MEA.
Analysis By Voltage
The 36V dominates the electric scooter market. This is because it strikes a fine balance between performance and cost. Most of the scooters which operate on 36V have ample power and range for most urban commuters. It is for this reason that they have appealed to the masses, especially city dwellers. In addition, the availability of various priced 36V scooters is usually contributing to its large adoption. These 36V battery systems are likewise lightweight to ensure scooters remain portable and can be used conveniently on a day-to-day basis. This effectively brings a balance of cost, performance, and convenience to lock in the position of 36V scooters as one of the most favored modes of transportation within cities.
The fastest-growing segment in the electric scooter market is that of 24V and above. This growth has been driven by increasing demand for high-performance, long-range scooters from urban regions with a greater sprawl and consumers wanting power options as close as possible to a conventional transport mode. The advances in battery technology have made high-voltage scooters more feasible, increasing their energy density and reducing charging times. As a result, these are being perceived to be increasingly attractive for the person and business seeking high levels of efficiency and ecological friendliness in transport. With these new high-voltage scooters, which are becoming much more viable, they are attractive for people who demand high performance but wish to be ecologically green in their transportation choices.
Analysis By Technology
The sealed lead-acid battery segment held the maximum share in the global electric scooter market owing to various advantages, including durability and affordability. These are rechargeable batteries, each containing 300 complete charge cycles before replacing the battery. The adoption of SLA batteries is expected to decline in the next few years since they are bulky and lose charge fast, even without bearing large loads. China leads the production, export, and consumption of lead-acid batteries across the globe. This major demand for the lead-acid market in China is caused by the presence of the world's largest electric vehicle manufacturer. The lithium-ion segment is expected to grow at the highest CAGR during the forecast period.
The lithium-ion segment is the fastest growing. This is basically attributed to very low-cost manufacture, simple cell construction, high energy density, thus lighter batteries, high resistance to physical damage, and lowered chances of leaking electrolytes. China emerged as the dominance in the world lithium-ion manufacturing market. Thus, it is said that in the same year, China produced about 79% of all lithium-ion batteries that entered the global market. The growing consciousness for the increasing adoption of batteries that are eco-friendly, and their sustained performance over sealed lead acid and NiMH batteries have shot up the demand for lithium-ion batteries. As these batteries are costly as compared to the other two therefore, their adoption has raised the prices of electric vehicles in the developing markets. These batteries include high discharge cycles protecting them from any kind of harm.
Global Electric Scooter Market Size By Battery technology (%)
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Electric Scooter Market Regional Insights
Asia-Pacific was the dominant market in 2023. China, a hub for automobiles, will still be in its leading role in the global electric scooter market given the reasonable sales and production the country has managed to record. This growth in sales is probably attributed to increased consumer demand for personal mobility post the COVID era. Increasing government initiatives to promote these scooters, and rising demand for affordable e-scooters for traveling shorter distances, is predicted to drive the market in the APAC region during the forecast period. The rapid economic growth of the nation accelerates the penetration of the latest technology used in electrification in China. The Indian government has promoted electric two-wheelers with initiatives such as FAME-II, which provide tax benefits and incentives to buyers.
North America is anticipated to witness significant growth in the forecast period. Both the public and private players are striving to increase the number of electric two-wheelers charging stations across the region. Further, promotion in research and development activities for producing high-density batteries is expected to accelerate the local market growth in the coming years. The prices of domestic batteries became cheaper during the pandemic, while investments in electric scooter firms by shared mobility players also increased and leading two-wheeler firms expedited plans to launch electric motorcycles. All these factors together forced a severe increase in the sales of electric bicycles in the US market. North America is expected to record the highest CAGR at a growth rate of 12.8% during the forecast period. Increasing investments in the technology of high-density batteries and infrastructure for electric car charging are likely to support regional growth.
Global Electric Scooter Market By Region
- Largest
- Fastest
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Electric Scooter Market Dynamics
Drivers
Increasing the Focus on Eco-Friendly Urban Mobility Solutions
- Hundreds of cities across the globe presently face air pollution, congestion of the roads, and shortage of parking spots; hence, greener and quicker transportation alternatives are highly demanding. This makes electrically operated scooters a very envying solution to these problems since they operate solely on renewable energy and do not emit any form of pollution when used. Electric scooters provide an easy and affordable means for people residing in the cities to cover short distances while weaving through busy streets and reaching their destination at a great speed. Hand in hand with the rise in urbanization and population of cities, the demand for small and agile means of transportation that could weave their way through places where there is heavy congestion has been on the rise.
Growing Recognition of Ride Sharing
- Electric scooters have gained popularity because, with the emergence of various ride-sharing and rental companies, people have started renting or using electric scooters. On-demand services provide an easy, flexible mode of transportation for consumers who want to use a scooter less frequently or do not want to purchase a vehicle. Technological improvements in battery capacity and electric motor efficiency have resulted in better range and performance of an electric scooter, thus making scooters more acceptable to consumers. The industry is in a growth curve, where electric scooters are turning out to be an excellent alternative to fuel-powered vehicles, which in return has brought further development of battery life and faster charging.
Restraints
Regulatory Hurdles
- The most significant hurdle to the electric scooter market is the regulatory environment. Regulations regarding the use of electric scooters vary from place to place, and this might affect the uptake of these devices and their commercial expansion. In some cities, strict legislation on safety, speed limits, or where to use the scooters may make them less popular and used compared to other cities. These rules tend to drive up manufacturer prices due to significant investments required in design and technology. Invasively changing regulations breed uncertainty, too, making planning and market investments difficult for any business. This may be a factor that could slow market acceptance and growth as companies and consumers work their way through the ever-changing legal system.
Insufficient Infrastructure of Charging to Deter the Expansion of the Market
- Inadequate charging infrastructure will be the major restrain to the growth of the e-scooter market. The convenience of charging an electric two-wheeler anywhere and at any time is the most critical factor for any customer to consider before the purchase. Unlike in developed countries, most developing countries do not possess the relevant charging outlets. While especially in developing countries, manufacturers are building their own networks of charging infrastructure, mainly as a first step; for the uptake of such cars to increase globally, governments and private investors must get involved.
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Electric Scooter Market Competitive Landscape
The market is highly consolidated owing to a strong product portfolio and significant distribution network of renowned companies in both developed and developing countries. Key players in the industry are focusing on product-level strategy and R&D. For instance, the Taiwanese market has been completely revamped with the swappable battery e-scooter bike developed by Gogoro. The company is working along with various Asian suppliers to embed the interchangeable battery technology into products. Starting to put these scooters into the market is major Japanese manufacturers such as Honda, Yamaha, Suzuki, and Kawasaki. In this way, the above-discussed section increases competitiveness in the Asian market.
Top Players in the Electric Scooter Market
- Hero Electric
- OLA Electric
- Gogoro
- NIU International
- Askoll EVA S.p.A.
- CAKE
- BMW Group
- Honda Motor Co., Ltd.
- KTM AG
- Ather Energy
- YADEA Technology Group Co., Ltd.
- TVS Motor Company
- Silence Urban Ecomobility
- Piaggio Group
- Harley Davidson
Electric Scooter Market Recent Developments
- January 2024: Hero MotoCorp announced the launch of three electric scooters within 2024 to firm up its EV play. In the new launches, the company will also serve the mid-affordable, and business-to-business segments, factoring in all usage requirements.
- December 2023: Gogoro, one of Taiwan's and the world's largest battery interchangeable and electric scooter manufacturers, has entered a partnership with India's Hero MotoCorp regarding vehicle co-development and infrastructure swapping based on Gogoro's branded technology. Gogoro also showcased the CrossOver GX250 Made-in-India.
- December 2023: Electric vehicle company Kinetic Green, which is based in Pune, launched its high-speed e-scooter, Zulu. The battery subscription plan also features in the Zulu high-speed e-scooter by Kinetic. The company said the battery subscription model offers huge running cost savings and has reduced the acquisition cost by over 35%.
Electric Scooter Key Market Trends
The manufacturers will be able to gain more global reach with increasing revenue streams as governments globally ramp up infrastructure for charging and incentivize consumers. For instance, the Indian government initiated the FAME initiative in 2019, aimed at recycling and making Hybrid and EV, with a budget of USD 100 billion to support one million e-two wheelers, one million e-buses, 500,000 e-three-wheeler, and 55,000 e-passenger cars. As a matter of fact, about 124,415 cars have benefited from the initiative as of this moment.
The fluctuating fuel prices are making the consumer shift from adopting gasoline-powered vehicle machines to electric vehicles; hence, the sales have dropped. The strengthened consumers, due to the increasing fuel prices, shift away from the market of gasoline-powered vehicles even though sales in India, Hong Kong, and the Netherlands record a considerable improvement. In fact, to reach its 2025 target of relying solely on renewable energy, Norway is predicted to end sales of all fossil-fuel-powered vehicles within the next few years.
Electric Scooter Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, the increasing adoption of shared and rental electric scooters in developed economies such as the U.S., France, Spain, and Germany is one of the factors that may boost the demand for electric scooters globally. In the global electric scooter market, more players, such as Lime, Jump, Razor, Spin, and Bird, have established their rental services. Increasing non-monetary and monetary incentives motivating people toward battery-powered two-wheelers, commonly known as electric scooters, are adding impetus to sales in the global electric scooter market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 30.18 Billion |
| Market size value in 2031 | USD 70.58 Billion |
| Growth Rate | 9.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Electric Scooter Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Electric Scooter Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Electric Scooter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Scooter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Scooter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Scooter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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