Global Scooter Market

Scooter Market Size, Share, Growth Analysis, By Product Type (Electric Scooter, Normal Scooter), By Electric Scooter Type, By Region - Industry Forecast 2025-2032

Report ID: SQMIG25C2154 | Region: Global | Published Date: December, 2024
Pages: 179 | Tables: 60 | Figures: 65

Scooter Market News

  • In February 2023, Ola Electric, one of the bigger players in India when it comes to electric vehicles (EVs), launched a new series of e-scooters under the brand name Ola S1 Air. This one will be available in three variants, which includes 2KWh, 3KWh and 4KWh. The company also launched a new 2KWh S1 model.
  • In January 2023, Yadea Technology Group Co. Ltd launched the Yadea Keeness VFD at the Consumer Electronics Show (CES) in Las Vegas, Nevada. The Keeness VFD model has a 10KW mid-mounted high-performance motor, which gives it a top speed of 100 km/h and can accelerate from 0 to 50 km/h in less than four seconds.
  • In January 2023, Hero Electric had entered a multi-year deal with Maxwell Inc. for supply of cutting-edge battery management technologies. As part of this agreement, Maxwell was to provide Hero Electric with more than 10 lakh Battery Management Systems (BMS) before 2026.
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FAQs

Global Scooter Market size was valued at USD 70.30 billion in 2022 and is poised to grow from USD 74.66 billion in 2023 to USD 120.80 billion by 2031, growing at a CAGR of 6.20% during the forecast period (2024-2031).

Diversified product portfolio and significant distribution network of large companies with a strong hold on developed as well as developing countries has led to the consolidated nature of the scooter industry. On the product level, the key market players are focusing on R&D efforts. Strategic initiatives are being noted among the market players which include regional expansion, merger & acquisition, partnership and collaboration in order to maintain their place in the industry. For the vast majority of the incumbent players within the market, organic growth is still the primary strategy. In developing nations, the manufacturers dealing in electric scooters emphasize product launching activities. 'Yadea Technology Group Co. Ltd   ', 'Zhejiang Luyuan Electric Vehicle Co Ltd   ', 'Niu Technologies   ', 'Mahendra GenZe   ', 'Hero Electric   ', 'Vmoto Limited   ', 'GOTRAX ', 'Govecs Group   ', 'BMW Motorrad International   ', 'Gogoro Inc. ', 'OKAI Inc. ', 'Razor USA LLC.'

As governments started investing heavily on charging infrastructure as well offering multiple consumer incentives, OEMs would have scope for expanding revenue stream and geographical range. Developed economies in Europe are implementing strict regulations to control emission from vehicles while in developing economies such as India, Government is increasing its budget for electric charging station infrastructure.

Increasing Investment on R&D for Developing Improved Battery and Charging Technology: Ongoing R&D developments made in battery technology have increased storage capacity while decreasing the cost of batteries like lithium-ion batteries provide, making them great for mobile, low-cost applications seen in products such as electric kick scooters. R&D developments will continue to enhance electric vehicle range and lessen overall weight, charging time even minimize the carbon footprints which is expected to create high revenue-generating possibilities for affordable mobility scooter market.

In 2023, Asia Pacific dominated the market with the largest scooter market share. Such significant market share is being capitalized due to the increasing discretionary income of the consumers in the region. Instead of public buses, users go for independent vehicles to save time and hustle. Not to mention the electric scooter is cheap both in terms of initial purchase price, and operational costs when contrasting them with electric motorcycles and electric mopeds. Electric vehicles are powered by batteries and so, ease consumers from the surge in oil prices in the region.

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Global Scooter Market

Report ID: SQMIG25C2154

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