Market Analysis and Insights:
The market for Electric Scooters was estimated to be worth USD 10.38 billion in 2023, and from 2024 to 2033, it is anticipated to grow at a CAGR of 9.26%, with an expected value of USD 25.13 billion in 2033.
The surge in the electric scooters industry can be attributed to various key factors. Firstly, the escalating environmental apprehensions and the necessity for sustainable transportation solutions have ened the demand for electric scooters. These vehicles operate on battery power, leading to decreased carbon emissions and diminished pollution in comparison to conventional scooters that depend on fossil fuels. Secondly, the upsurge in urban development has resulted in amplified traffic congestion and scarce parking options in cities, paving the way for electric scooters as an appealing substitute for short-distance travels. Thirdly, the advancements in battery technology have bolstered the overall performance and range of electric scooters, rendering them a practical choice for longer trips. Moreover, the economical aspect of electric scooters, encompassing both the purchase price and maintenance costs, has rendered them more enticing to the wider consumer base. Lastly, the ease of use and convenience provided by electric scooters, along with the burgeoning popularity of ride-sharing and rental services, have additionally fueled the expansion of the market. In a nutshell, the growth of the electric scooters sector is steered by concerns regarding the environment, urbanization trends, technological progressions, cost-effectiveness, and user convenience.
Electric Scooters Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2033 |
| Study Period | 2018-2033 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2033 | USD 25.13 billion |
| Growth Rate | CAGR of 9.26% during 2024-2033 |
| Segment Covered | By Product Type, By Battery Type, By Technology ,By Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Bird Rides Inc., Lime Electric Scooters, Voi Technology AB, Skip Scooters, Tier Mobility GmbH, Spin, Razor USA LLC, and Lyft Inc. |
Market Definition
Electric scooters are small and efficient two-wheeled vehicles that are propelled by electric motors, in contrast to conventional combustion engines. Specifically engineered for city commuting, they are equipped with rechargeable batteries for power.
Electric scooters have gained significance in recent years for various reasons. They serve as a sustainable mode of transport by minimizing carbon emissions and addressing environmental issues. In addition, they offer a convenient and economical option for short-distance travel, icularly in densely populated urban areas where parking and traffic congestion are prevalent. Moreover, electric scooters present an alternative for individuals seeking to move away from traditional gasoline-fueled vehicles, catering to those interested in reducing their environmental impact. These scooters are characterized by their lightweight, compact design, and ease of maneuverability, making them well-suited for navigating narrow streets and bustling city centers. The increasing adoption of electric scooters has spurred the advancement of a cleaner and more efficient transportation network, thereby fostering a greener and more sustainable future.
Key Market Segmentation:
Insights On Key Product Type
Maxi
Maxi is expected to dominate the Global Electric Scooters Market. Maxi electric scooters are designed for adults and have larger frames and higher weight capacity compared to other s. These scooters typically have a longer range, more powerful motors, and advanced features like suspension systems and larger wheels. With the increasing demand for electric scooters as a reliable and sustainable mode of transportation, the Maxi is expected to attract the majority of consumers looking for a comfortable and powerful option to meet their commuting needs.
Standard
The Standard of electric scooters offers a basic and economical option for consumers. These scooters are lightweight and compact, making them suitable for short-distance commuting and easy maneuverability in crowded urban areas. Despite their simplicity, they still offer convenient and environment-friendly transportation alternatives. While the Standard may not dominate the market, it holds its significance as an entry-level option for budget-conscious consumers or those seeking a lightweight and portable electric scooter.
Folding
Folding electric scooters are gaining popularity due to their compact design and convenience. These scooters are designed to be easily folded and carried, making them ideal for commuters who need to combine different modes of transportation or have limited storage space. The Folding offers a practical solution for last-mile transportation, enabling riders to easily fold their scooters and take them on public transportation or store them in small spaces. Although not expected to dominate the market, the Folding caters to a specific niche of users who prioritize portability and convenience.
Self-Balancing
The Self-Balancing includes electric scooters that utilize gyroscopic technology to provide stability and balance. These scooters are often referred to as hoverboards or self-balancing boards. While they offer a unique and fun riding experience, they are not as prevalent as other s due to their limited use cases. Self-balancing scooters are typically preferred by younger audiences for recreational purposes rather than daily commuting. As a result, the Self-Balancing is not expected to dominate the Global Electric Scooters Market, but rather serve as a niche option for users seeking a novel and entertaining mode of transportation.
Three-Wheeled
Compared to their two-wheeled counterparts, electric scooters with three wheels provide better balance and stability. Typically, these scooters have one back wheel and two front wheels to give riders a stable platform. Because they provide a more secure and comfortable riding experience, older adults or people with balance issues frequently choose three-wheeled electric scooters. Although it is not expected to overtake the Maxi in terms of market share, the Three-Wheeled caters to a particular group of consumers looking for a more stable and safe choice for their recreational or commuting needs.
Insights On Key Battery Type
Li-Ion
Li-Ion batteries are expected to dominate the Global Electric Scooters Market. Li-Ion batteries are known for their high energy density, long cycle life, and low self-discharge rate. These batteries have a higher power-to-weight ratio compared to other types of batteries like NiMH or Lead-Based batteries. The higher power-to-weight ratio allows electric scooters to have a longer range and improved performance.
Additionally, Li-Ion batteries have a fast charging capability, which is a key factor for consumer convenience. With a growing focus on sustainability and the increasing demand for electric scooters, Li-Ion batteries are anticipated to be the dominant in the Global Electric Scooters Market.
NiMH
NiMH holds significance in the Global Electric Scooters Market. NiMH batteries have a lower energy density compared to Li-Ion batteries, but they still offer a good balance between performance and cost-effectiveness. NiMH batteries are known for their high safety level and comparatively lower environmental impact, making them a preferred choice for some consumers. Additionally, NiMH batteries have a longer cycle life compared to Lead-Based batteries, further enhancing their appeal in the market. Although NiMH batteries may not have the same power-to-weight ratio as Li-Ion batteries, they continue to cater to specific consumer preferences and market demands.
Lead-Based
Lead-Based batteries have been widely used in electric scooters due to their low cost and good reliability. However, with the advancements in battery technology, the Lead-Based is expected to face challenges in dominating the Global Electric Scooters Market. Lead-Based batteries have a lower energy density and shorter cycle life compared to both Li-Ion and NiMH batteries. Additionally, Lead-Based batteries are heavier and have slower charging capabilities, limiting the range and overall performance of electric scooters. These drawbacks make Lead-Based batteries less attractive to consumers and the industry as a whole, resulting in their declining dominance in the market.
Insights On Key Technology
Plug-In
The Plug-In is expected to dominate the Global Electric Scooters Market. Plug-In electric scooters utilize a charging cable and can be connected to a power source, such as a wall outlet or charging station, to recharge their batteries. This dominance can be attributed to several factors. Firstly, plug-in electric scooters provide greater range and endurance compared to their battery-powered counter s, which is crucial for long-distance commuting or recreational use. Secondly, the availability of charging infrastructure is increasing globally, making it more convenient for users to charge their electric scooters.
Additionally, plug-in scooters offer the advantage of shorter charging times, allowing users to quickly replenish the battery and continue their journey. The dominance of the Plug-In is expected to be fueled by these advantages and the growing demand for electric scooters as an eco-friendly alternative to traditional gasoline-powered vehicles.
Battery
The Battery , although not expected to dominate the Global Electric Scooters Market, still holds significant importance. Battery-powered electric scooters rely on built-in batteries that need to be charged via an external power source. While not as prevalent as plug-in scooters, battery-powered models are popular among users who prioritize portability and flexibility. These scooters are often lightweight and compact, making them ideal for short commutes or last-mile transportation. They are frequently used for leisure purposes in urban areas where charging infrastructure might be limited. Battery-powered electric scooters also tend to be more affordable than plug-in models, appealing to budget-conscious consumers. Despite not dominating the market, the Battery continues to meet the needs of specific user s and contributes to the overall growth of the electric scooter industry.
Insights On Key Voltage
48V
The 48V is expected to dominate the Global Electric Scooters Market. This can be attributed to the higher power and performance offered by electric scooters with a 48V voltage system. Electric scooters with a 48V battery pack generally have a higher top speed and can travel longer distances on a single charge compared to scooters with lower voltage systems. Additionally, the 48V tends to attract more sophisticated and performance-oriented consumers who prioritize speed and range. This is likely to flourish due to the increasing demand for electric scooters as eco-friendly transportation options in urban areas. Moreover, advancements in battery technology have enabled the development of more efficient and powerful 48V systems, further strengthening the dominance of this .
36V
36V remains a significant player in the Global Electric Scooters Market. Electric scooters with a 36V voltage system offer a balance between power and affordability. They are often favored by commuters and casual riders who prioritize a cost-effective and reliable mode of transportation. While they may not offer the same level of speed and range as the 48V scooters, they still provide a convenient and environmentally friendly alternative to traditional scooters or cars. The 36V is expected to retain a considerable market share, especially in regions where price sensitivity and practicality are important factors in consumer decision-making.
24V
24V is anticipated to have the smallest market share in the Global Electric Scooters Market. Electric scooters with a 24V voltage system are typically designed for young riders or those looking for a budget-friendly and entry-level option. They are often seen as more suitable for recreational use rather than daily commuting due to their limited top speed and shorter range. Despite their affordability, the 24V may not attract as many consumers as the higher voltage options due to the increasing demand for faster and more powerful electric scooters in urban environments. However, the 24V is still important for catering to specific niche markets and providing accessible options for younger riders or those with limited budget constraints.
Insights on Regional Analysis:
Asia Pacific
Asia Pacific is expected to dominate the Global Electric Scooters market. This region has witnessed significant growth in the adoption of electric scooters, driven by factors such as rising urbanization, increasing environmental awareness, and supportive government regulations promoting the use of electric vehicles. Countries like China, India, and Japan are leading the market in terms of both production and consumption of electric scooters. Furthermore, the high population density in many Asian countries has led to greater demand for efficient and eco-friendly transportation solutions, making electric scooters a popular choice among consumers. The presence of established manufacturers, technological advancements, and robust infrastructure for charging and maintenance also contribute to the region's dominance in the global market.
North America
North America is one of the key regions in the Global Electric Scooters market. While it may not dominate the market, it is witnessing steady growth in the adoption of electric scooters. Factors such as increasing awareness about environmental sustainability, rising fuel prices, and the need for efficient urban transportation are driving the demand for electric scooters in the region. Additionally, the presence of advanced technology and infrastructure, along with supportive government initiatives, further fuels the market growth. However, compared to Asia Pacific, the market size and penetration of electric scooters in North America are relatively smaller, limiting its dominance in the global market.
Latin America
Latin America is also experiencing growth in the Global Electric Scooters market. The region is witnessing an increased adoption of electric scooters due to factors such as rising urbanization, increasing traffic congestion, and the need for affordable and energy-efficient transportation options. Moreover, government initiatives promoting the use of electric vehicles and the presence of a young population inclined towards sustainable mobility contribute to the market growth. However, the market size and penetration of electric scooters in Latin America are still relatively limited compared to Asia Pacific, hindering its dominance in the global market.
Europe
Europe is another significant region in the Global Electric Scooters market. The region is witnessing a growing demand for electric scooters, driven by factors such as strict emission regulations, increasing environmental consciousness, and a shift towards sustainable transportation. European countries like Germany, France, and the Netherlands are leading the market in terms of production and consumption of electric scooters. Furthermore, a well-established charging infrastructure, favorable government policies, and the presence of renowned electric scooter manufacturers further boost market growth in the region. However, while Europe holds a considerable market share, it falls short of dominating the global market due to the larger market size and higher adoption rates in Asia Pacific.
Middle East & Africa
The Middle East & Africa region is gradually embracing the Global Electric Scooters market. While the adoption rate is lower compared to other regions, factors such as increasing urbanization, rising fuel prices, and the pursuit of sustainable transportation solutions are driving the demand for electric scooters. Countries like the United Arab Emirates, Saudi Arabia, and South Africa are witnessing the initial stages of market growth, with supportive government initiatives and infrastructure development. However, the market size and penetration of electric scooters in the Middle East & Africa are relatively limited, preventing the region from dominating the global market.
Company Profiles:
Prominent contributors in the worldwide electric scooter industry are engaged in the production and development of electric scooters, integrating cutting-edge technologies to improve safety and efficiency, and broadening their market outreach via strategic collaborations and acquisitions.
Prominent participants in the electric scooters industry comprise Bird Rides Inc., Lime Electric Scooters, Voi Technology AB, Skip Scooters, Tier Mobility GmbH, Spin, Razor USA LLC, and Lyft Inc. Through their electric scooter sharing services, these firms are spearheading the delivery of convenient and environmentally sound transportation solutions. By leveraging cutting-edge mobile apps and customer-centric amenities, they are revolutionizing urban commuting practices. These major contributors have effectively solidified their footprint in numerous global cities and are actively scaling their endeavors to address the escalating requirements for sustainable transportation alternatives.
COVID-19 Impact and Market Status:
The global market for electric scooters has experienced a downturn in sales and production as a result of supply chain interruptions and decreased consumer interest, largely attributed to the adverse effects of the Covid-19 pandemic.
The electric scooter market has been significantly impacted by the global COVID-19 pandemic. Lockdowns and travel restrictions worldwide led to a sharp decrease in demand for electric scooters as consumers became hesitant to spend and shifted their priorities due to health concerns and economic uncertainty. The closure of manufacturing facilities and disruptions in supply chains also contributed to hindering the production and distribution of electric scooters. However, as restrictions eased and personal mobility became a priority for many individuals, the market has shown signs of recovery. The necessity for social distancing and the desire to avoid crowded public transportation has sparked renewed interest in electric scooters as a viable alternative mode of transport. Additionally, government entities and local municipalities have been actively promoting environmentally friendly transportation solutions, amplifying the demand for electric scooters. Despite the initial challenges, the electric scooter market is projected to experience steady growth in the aftermath of the pandemic, driven by the increasing adoption of electric vehicles and a growing preference for sustainable mobility options.
Latest Trends and Innovation:
- In July 2019, Lime, a leading electric scooter rental company, announced a nership with Uber, allowing users to rent Lime scooters through the Uber app.
- In November 2019, Segway-Ninebot, a prominent electric scooter manufacturer, unveiled the Segway Ninebot KickScooter Max, a long-range electric scooter with a maximum speed of 18.6 mph and a range of up to 40.4 miles.
- In January 2020, Xiaomi, a Chinese electronics company, introduced the Mi Electric Scooter Pro 2, an upgraded version of their popular electric scooter. The new model boasts improved battery life and extended range.
- In March 2020, Bird, a major electric scooter sharing company, acquired Circ, a European scooter-sharing startup. The acquisition expanded Bird's presence in the European market.
- In October 2020, Voi Technology, a leading European electric scooter rental company, raised €160 million in a funding round, increasing their valuation to €600 million. The funding aimed at further expanding their operations across Europe.
- In December 2020, BMW announced its entry into the electric scooter market by unveiling the BMW Motorrad Definition CE 04, an electric scooter concept with a futuristic design and integrated connectivity features.
- In February 2021, Tier, a German electric scooter rental company, merged with its competitor, Voi Technology. The merger created one of Europe's largest electric scooter sharing companies, combining both firms' resources and expertise.
- In April 2021, Swappable, a French startup, launched its electric scooter subscription service, allowing users to rent electric scooters on a monthly basis. The service aims to provide a more sustainable and cost-effective transportation option.
- In June 2021, Gotrax, a US-based electric scooter manufacturer, released the Gotrax GXL V2 Commuting Electric Scooter, an upgraded version with enhanced performance and improved safety features. The model gained popularity among commuters.
- In September 2021, Lime announced that it will integrate Bosch's electric hub motor system into their fleet of electric scooters, aiming to provide a smoother and more efficient riding experience for users.
Significant Growth Factors:
The rising interest in sustainable transportation alternatives and the growing emphasis on mitigating carbon footprints serve as principal catalysts for the growth of the electric scooter industry.
The electric scooter industry has experienced substantial growth in recent years, driven by various pivotal factors. Primarily, the escalating environmental
Key Segmentation:
Key Segments of the Electric Scooters Market
Product Type Overview
• Standard Electric Scooters
• Folding Electric Scooters
• Self-Balancing Electric Scooters
• Maxi Electric Scooters
• Three-Wheeled Electric Scooters
Battery Type Overview
• Lithium-Ion Battery Electric Scooters
• Nickel Metal Hydride (NiMH) Battery Electric Scooters
• Lead-Based Battery Electric Scooters
Technology Overview
• Plug-In Electric Scooters
• Battery Electric Scooters
Voltage Overview
• 24V Electric Scooters
• 36V Electric Scooters
• 48V Electric Scooters
Regional Overview
North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The global electric scooters Market is Segmented on the By Product Type, By Battery Type, By Technology ,By Region.
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