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Global Electric Scooters Market Size, Analysis: By Battery: Sealed Lead Acid, Li-Ion, NiMH; By Voltage: 24V, 36V, 48V, Above 48V; By Product: Retro, Standing/Self-Balancing, Folding, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Electric Scooters Market Outlook
The global electric scooters market attained a value of nearly USD 23.2 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.7% to reach nearly USD 38.28 billion by 2032.
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The Asia Pacific Region Holds a Significant Share in the Electric Scooters Industry
The electric scooter industry in the Asia Pacific region is expected to witness a robust growth owing to the increasing production of electric scooters in the region. Rapid urbanisation and the increasing demand for two-wheelers in emerging economies, such as India and China, are further fuelling the market growth in the region. Moreover, the introduction of favourable government policies to aid the production and the overall market for electric vehicles in order to promote sustainability is positively impacting the electric scooters industry growth. For instance, the Indian government initiated the FAME India Scheme to provide subsidies to several electric vehicles, such as buses, passenger cars, and two-wheelers like scooters and motorbikes. Additionally, it plans to construct numerous charging stations to encourage the use of renewable energy and lower the levels of pollution. Such initiatives are boosting the market growth in the region and therefore contributing significantly to the overall growth of the electric scooters industry globally.
Furthermore, China is one of the leading producers of electric scooters owing to the increasing adoption of eco-friendly and cost-effective vehicles. Moreover, the increasing pollution levels in countries such as Vietnam, Indonesia, and Thailand and the rising awareness regarding climate change are leading to the adoption of electric vehicles, consequently catalysing the market growth for electric scooters. Moreover, consumers are increasingly preferring electric vehicles owing to the rising petroleum costs, especially in developing countries, which is further propelling the industry growth. Electric scooters offer portability, easy storage, and safety to the rider; features that are providing further impetus to the market growth. The rising demand for energy-efficient and emission-free two-wheelers is further aiding the market growth.
Electric Scooters: Market Segmentation
Electric scooters, variously known as e-scooters, are plug-in two or three-wheeled vehicles which store electricity in a rechargeable battery. They are eco-friendly and cost-effective and therefore provide a better alternative to fuelled vehicles. Moreover, they are low maintenance and can be used comfortably in short distances.
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Based on the battery, the market is divided into:
- Sealed Lead Acid
- Li-Ion
- NiMH
The market can be broadly categorised on the basis of its voltage into:
- 24V
- 36V
- 48V
- Above 48V
The major products of electric scooters in the market are:
- Retro
- Standing/Self-Balancing
- Folding
- Others
The EMR report looks into the regional markets of electric scooters like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Trend of Micromobility Owing to the Coronavirus Pandemic to Bolster the Industry Growth
The coronavirus pandemic has increased the demand for electric scooters owing to the rising preference for open and emission-free transportation in order to maintain social distancing. Furthermore, the increasing use of scooters for both utility and leisurely activities is expected to further aid the market growth. In addition, the growing trend of micromobility to maintain social distancing after lockdowns is fuelling the electric scooters industry. The surging investments in bike sharing and sustainable transit are further anticipated to propel the market growth. Moreover, various government initiatives to aid the trend of micromobility are expected to catalyse the market growth in the forecast period.
The increasing trend of shared e-scooters offered by various start-ups such as Bird, Lime, Voi, and Tier, among others, which can be rented by a smartphone app, is propelling the growth of the market for electric scooters. Moreover, major companies are using more recyclable products in the production of e-scooters due to the increasing sustainability concerns, which are also aiding the industry growth. The United Kingdom started shared e-scooters trials in four areas in 2021, while places such as Rome, Colombia, and Brisbane are changing the government regulations to allow shared e-scooters companies to grow. Such developments are expected to aid the market growth in the forecast period.
Key Industry Players in the Global Electric Scooters Market
The report presents a detailed analysis of the following key players in the global electric scooters market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Gogoro Inc.
- Greenwit Ltd.
- Vmoto Limited
- Terra Motors Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Battery, Voltage, Product, Region |
| Breakup by Battery | Sealed Lead Acid, Li-Ion, NiMH |
| Breakup by Voltage | 24V, 36V, 48V, Above 48V |
| Breakup by Product | Retro, Standing/Self-Balancing, Folding, Others |
| Breakup by Regions | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles-Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Gogoro Inc., Greenwit Ltd., Vmoto Limited, Terra Motors Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Electric Scooters Market Analysis
8.1 Key Industry Highlights
8.2 Global Electric Scooters Historical Market (2018-2023)
8.3 Global Electric Scooters Market Forecast (2024-2032)
8.4 Global Electric Scooters Market by Battery
8.4.1 Sealed Lead Acid
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Li-Ion
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 NiMH
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Electric Scooters Market by Voltage
8.5.1 24V
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 36V
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 48V
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Above 48V
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Electric Scooters Market by Product
8.6.1 Retro
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Standing/Self-Balancing
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Folding
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Electric Scooters Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Electric Scooters Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Electric Scooters Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Electric Scooters Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Electric Scooters Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Electric Scooters Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Gogoro Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Greenwit Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Vmoto Limited
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Terra Motors Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Scooters Market: Key Industry Highlights, 2018 and 2032
2. Global Electric Scooters Historical Market: Breakup by Battery (USD Billion), 2018-2023
3. Global Electric Scooters Market Forecast: Breakup by Battery (USD Billion), 2024-2032
4. Global Electric Scooters Historical Market: Breakup by Voltage (USD Billion), 2018-2023
5. Global Electric Scooters Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
6. Global Electric Scooters Historical Market: Breakup by Product (USD Billion), 2018-2023
7. Global Electric Scooters Market Forecast: Breakup by Product (USD Billion)
8. Global Electric Scooters Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Electric Scooters Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Electric Scooters Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Electric Scooters Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Electric Scooters Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Electric Scooters Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Electric Scooters Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Electric Scooters Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Electric Scooters Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Electric Scooters Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Electric Scooters Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Electric Scooters Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Electric Scooters Market Structure
Key Questions Answered in the Report
In 2023, the global electric scooters market attained a value of nearly USD 23.2 billion.
The market is projected to grow at a CAGR of 7.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach nearly USD 38.28 billion by 2032.
The market is being driven by the increasing preference of sustainable two-wheelers and favourable policies of various governments to promote green energy.
The key trends of the market include the advent of shared e-scooters and increasing research and development (R&D) to promote sustainable lifestyles.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major batteries in the market are sealed lead acid, Li-Ion, and NiMH.
The leading voltages in the market are 24V, 36V, 48V, and above 48V.
The significant products in the market are retro, standing/self-balancing, and folding, among others.
The key players in the global electric scooters market are Gogoro Inc., Greenwit Ltd., Vmoto Limited, and Terra Motors Corporation, among others.
Analyst Review
The global electric scooters market attained a value of nearly USD 23.2 billion in 2023, driven by the cost-effectiveness and eco-friendliness of the electric scooters. Aided by the rising prevalence of open transportation due to the coronavirus pandemic, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 7.7%. The market is projected to reach nearly USD 38.28 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its battery, the electric scooters industry can be segmented into sealed lead acid, Li-Ion, and NiMH. By voltage, the market is divided into 24V, 36V, 48V, and above 48V. On the basis of products, the industry is categorised into retro, standing/self-balancing, and folding, among others. The major regional markets for electric scooters are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Gogoro Inc., Greenwit Ltd., Vmoto Limited, and Terra Motors Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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