What is the global market size of Electric Scooter Market?

Global Electric Scooter Market size was valued at USD 20.78 billion in 2021 and it is expected to reach USD 31.04 billion by 2028, at a CAGR of 10.7% over the forecast period (2022–2028). Read More

Who are the key vendors in the Global Electric Scooter Market?

The market is consolidated because of its strong product portfolio and noteworthy distribution network of major companies in developed and developing countries. The key market players are concentrating on R&D efforts and product-level strategies. For instance, Gogoro’s swappable reusable battery e-scooter revolutionized the market in Taiwan. Many Asian vendors are collaborating with the company to integrate the swappable models. This type of scooters from major Japanese companies, such as Honda, Yamaha, Suzuki, and Kawasaki, have competition in the Asian market.'Yadea Technology Group Co. Ltd (China)','Zhejiang Luyuan Electric Vehicle Co Ltd (China)','Niu Technologies (China)','Mahendra GenZe (U.S.)','Hero Electric (India)','Vmoto Limited (Australia)','Amper Vehicles (India)','Govecs Group (Germany)','BMW Motorrad International (Germany)','Gogoro Inc. (Taiwan)' Read More

What is the key driver of Global Electric Scooter Market?

Ever-increasing traffic and rising trend of long travel are encouraging consumers to opt for time-efficient, convenient, and cost-effective modes of transportation to reach their destination, which in turn is projected to drive the growth of the market. In addition, with the surge in micro-mobility, players in the industry have devised vehicle-sharing alternatives allowing people to circumvent purchasing their micro-mobility vehicles. Public transport vehicles involving taxis and buses cause greenhouse gas emissions. Since people are moving towards the adoption of rechargeable vehicles, the demand for the market is anticipated to grow over the forecast period. Moreover, growing anxieties over the conservation of the environment inspire commuters to opt for individual transit options such as motor vehicles and cars over public transport vehicles. Therefore, the inclination toward eco-friendly modes of transport is propelling the electric scooter market. Read More

Which region accounted for the largest share in Global Electric Scooter Market?

Asia Pacific is projected to experience steady growth owing to the high demand for energy-efficient and emission-free electric two-wheelers. Asia Pacific dominated the global electric scooter market and was valued at USD 15.0 billion in 2021. Most electric scooter manufacturers have emerged from China, Japan, and Taiwan, acquiring the largest share globally. China has emerged as a leading consumer and the leading producer and exporter of electric scooters. China is also home to some major players operating in the market, such as AIMA Group, Yadea, Jiangsu Xinri Electric Vehicle Co., Ltd., Zhejiang Luyuan, and Niu International. The Indian government is taking initiatives such as FAME-II, offering subsidies and tax exemptions to buyers to promote electric two-wheelers in the country. The government has also extended the FAME II scheme for 2 years, applicable till March 31, 2024. Read More

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 2024-2031

Report ID: SQMIG25C2095 | Region: Global | Published Date: July, 2024
Pages: 222 | Tables: 94 | Figures: 76

Electric Scooter Market News

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%.

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Global Electric Scooter Market size was valued at USD 30.18 Billion in 2022 and is poised to grow from USD 33.17 Billion in 2023 to USD 70.58 Billion by 2031, growing at a CAGR of 9.9 % in the forecast period (2024-2031).

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. '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 '

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.

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.

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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 2024-2031

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What is the global market size of Electric Scooter Market?

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