Meticulous Research®—a leading global market research
company, published a research report titled, ‘Electric Scooter Market by
Vehicle Type (Electric Motorcycles, E-Kick scooters & Bikes, Electric
Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology,
Motor Type, Charging Type, End-user - Global Forecasts to 2030.’
The global electric
scooter market is expected to reach $345.79 billion by 2030, at
a CAGR of 21.6% during the forecast period from 2023 to 2030. By volume, this
market is projected to reach 255.71 million units, at a CAGR of 17.5% during
the forecast period. The growth of the electric scooter market is driven by the
increasing localization of electric two-wheeler manufacturing in emerging
economies, increasing consumer acceptance of electric two-wheelers, and growing
adoption of E-PTWs (electric-powered two-wheelers) for personal mobility &
leisure in developed economies.
However, inadequate initiatives by legacy two-wheeler manufacturers
to invest in electric scooter and increasing incidents of accidents involving
electric two-wheelers are restraining the growth of this market. The potential
of electric two-wheelers to reduce traffic congestion and pollution in cities
is expected to create market growth opportunities. However, the inadequate
availability of charging infrastructure in emerging economies and the lack of
standardized regulations related to ownership, registration, licensing, and use
in traffic are major challenges for players operating in the electric scooter
market.
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The global electric scooter market is segmented by vehicle
type, power output, battery technology, motor type, charging type, end use, and
geography. The study also evaluates industry competitors and analyses the
country and regional-level markets.
Based on vehicle type, the electric scooter market is mainly
segmented into electric motorcycles, e-kick scooters & bikes, and electric
mopeds. By value, in 2023, the e-kick scooters & bikes segment is expected
to account for the largest share of the global electric scooter market. The
large market share of this segment is attributed to the incentives and
infrastructure created by the governments for e-bikes in the Asia-Pacific
region (especially in China, India, and Singapore). Other factors supporting
the high market share of this segment include the perceived benefits of e-kick
scooters & bikes in reducing congestion, accidents, noise pollution,
greenhouse gases, and local air quality improvements, among others. However,
the electric motorcycles segment is expected to register the highest CAGR
during the forecast period.
Based on power output, the electric scooter market is
segmented into less than 3.6kW, 3.6kW to 7.2kW, and 20kW to 100 kW. In 2023,
the less than 3.6kW segment is expected to account for the largest share of the
global electric scooter market. The large share of this segment is mainly
attributed to the increasing adoption of e-scooters & bikes for urban
commute and recreational activities, rising initiatives by government
authorities for increasing adoption of e-scooters & bikes, and increasing
investments by ride-hailing companies for deploying e-scooters & bikes for
micro mobility.
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Based on battery technology, the electric scooter market is
segmented into sealed lead-acid, lithium-ion, and lithium-ion polymer. The
lithium-ion segment is expected to account for the largest share of the
electric scooter market in 2023. The large share of this segment is attributed
to factors such as high energy densities of li-ion batteries, longer effective
lifespan compared to other batteries available in the market and increasing
investments by governments of emerging economies to localize li-ion battery
manufacturing for EVs.
Based on motor type, the electric scooter market is
segmented into hub and mid-drive motors. The hub motors segment is expected to
account for the largest share of the electric scooter market in 2023. The large
share of this segment is mainly attributed to factors such as increased
power/speed, high torque, extended range per charge, and better vehicle
handling due to lightweight design.
Based on end user, the electric scooter market is segmented
into government institutions, academic institutes/universities, business
organizations, micromobility service providers, and individuals. The business
organizations segment is expected to account for the largest share of the
electric scooter market in 2023. The large share of this segment is mainly
attributed to the increasing government subsidies and support to promote electric
mobility, increasing use of e-scooters & bikes by courier and e-commerce
delivery personnel, and the growing implementation of mobility-as-a-service.
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Based on geography, the electric scooter market is segmented
into North America, Europe, Asia-Pacific, Latin America, and the Middle East
& Africa. In 2023, Asia-Pacific is expected to account for the largest
share of the global electric scooter market. The large share of the
Asia-Pacific region is attributed to the increasing adoption of electric mopeds
in emerging economies such as India, the presence of industry-leading electric
mopeds and electric motorcycle manufacturers in the region, the high popularity
of two-wheelers for personal mobility and short commutes, increasing
initiatives by governments in countries such as Thailand and Indonesia to drive
adoption of electric mopeds and motorcycles in their respective countries.
Key Players
The key players operating in the global electric scooter
market are Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.),
Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese &
Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg
Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes
(U.S.), Pedego Inc. (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang
Minimotors Bike Co Ltd (China), Zero Motorcycle Inc. (U.S.), Gogoro Inc.
(Taiwan), Ather Energy Pvt. Ltd (India), Energica Motor Company (Italy), Revolt
Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.).
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Key Questions Answered in the Report:
Which are the high-growth market segments in terms of
vehicle type, power output, battery technology, motor type, charging type, end
user, and geography?
What is the historical market size for electric scooter
across the globe?
What are the market forecasts and estimates for the period
2023–2030?
What are the major drivers, restraints, opportunities, and
challenges in the global electric scooter market?
Who are the major players in the market, and what are their
market shares?
How is the competitive landscape for the global electric
scooter market?
What are the recent developments in the global electric
scooter market?
What are the different strategies adopted by the major players
in the market?
What are the key geographic trends, and which are the
high-growth countries?
Who are the local emerging players in the global electric
scooter market, and how do they compete with other players?
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