Electric Scooter Market Report by Voltage (24 V, 36 V , 48 V, Greater than 48 V), Product (Folding, Standing/Self-Balancing, Retro), Battery Type (Li-ion, Lead Acid, Others), End Use (Personal, Commercial), Countries and Company Analysis 2024- 2032
Buy NowElectric Scooter Market Outlook
The Global Electric Scooter Market was valued at US$ 24.67 Billion in 2023 and is projected to grow at a CAGR of 8.35% between 2024 and 2032, reaching an estimated value of US$ 50.78 Billion by 2032.
Over the forecast period, it is projected that the adoption of electric scooters, or e-scooters, will be compelled by the rising demand for fuel-efficient automobiles and rising concerns over greenhouse gas and carbon emissions. The market for electric scooters is being driven by strict emission regulations imposed by government agencies, such as China VI, India's BS-VI, and the United States Environmental Protection Agency's (EPA) emission standards for greenhouse gas (GHG) emissions.
Global Electric Scooter Market Drivers
The growing demand for sustainable urban transportation solutions
The growing demand for sustainable urban transportation solutions. The increasing need for eco-friendly urban transportation options is the main factor propelling the global industry for electric scooters. Fueled by rising urbanization and environmental concerns, electric scooters provide a practical and environmentally friendly alternative to traditional automobiles.
Cost-Effectiveness and Operational Efficiency:
Electric scooters are a more cost-effective form of transportation than traditional autos. Because they require less maintenance and gasoline, electric scooters are an affordable and environmentally beneficial mode of transportation. Additionally, enhancements to the design of scooters and their connectivity features, such as app integration and smart navigation.
Industry Expansion in Developing nations:
The desire for inexpensive and effective transportation solutions is being driven by fast urbanization and rising disposable income in developing nations, where the electric scooter industry has great growth potential. In these areas, the use of electric scooters can aid in addressing mobility issues and promote sustainable urban development.
United States Electric Scooter Market
The Electric Scooter Industry in the USA is committed to applying sustainability principles as a vital part of the effort to develop its market and value. Manufacturers wish to contribute to creating a vision for the future of transportation and to meet the expectations placed on the Powered Two-Wheeler sector.
In contrast to electric cars, charging electric two-wheelers is relatively easy and requires less infrastructure. To date, a number of small projects have demonstrated that there is potential for electric two-wheelers within the US Market of operations as it has a considerable gapped onset of these operations in place at all times. The charging infrastructure presence at the organization has been of greater importance in the country.
Increasing the amount of energy that batteries can store is important in allowing electric scooters to be integrated completely into the market and to travel further distances between charges, although less so than for electric cars. Regulations should be implemented to enforce the use of sustainable lithium batteries instead of the cheaper, short-life sealed lead acid (SLA) batteries. Technological improvements are also necessary to improve the affordability of electric two-wheelers.
In most metropolitan areas across the USA, electric Scooters face similar challenges and offer comparable benefits. As urban travel increases, so does congestion, discouraging people from using public transportation. In such scenarios, two-wheelers emerge as a practical and efficient alternative to automobiles despite a few limitations.
The U.S. electric bike market continues to boom according to the latest figures from the Light Electric Vehicle Association. The U.S. imported nearly 790,000 electric two-wheelers in 2021 according to LEVA’s estimate, up from 463,000 in 2020.
Asia Pacific Electric Scooter Market
Due to rising fuel and diesel prices globally the Asia-Pacific area as well as increased consciousness of the benefits that electric vehicles offer the environment, the region is predicted to dominate the market. Furthermore, throughout the projection period, regional demand is anticipated to rise even more as a result of government initiatives pertaining to e-mobility.
It is also expected that startup funding and major players' capacity expansions will propel the industry. For example:
In order to boost Hero Electric Ltd. declared in November 2022 that it will increase its production capacity to 4 million electric two-wheelers yearly by 2026 would invest INR 2600 crore (USD 312 million) to establish a manufacturing plant in the Indian state of Rajasthan.
October 2022: Ather Energy, an Indian manufacturer of electric two-wheelers based in Bengaluru, announced that it had raised USD 50 million through an investment round led by Caladium Investments. In the fundraising round, Herald Square Ventures participated as well.
Electric Scooter Company Overview
Yadea Technology Group Co. Ltd., Niu Technologies, Mahindra, Vmoto Limited, Amper Vehicles, BMW Motorrad International, Gogoro Inc., Govecs Group, Hero Electric, Zhejiang Luyuan Electric Vehicle Co Ltd. are among the industry leaders in the Global Electric Scooter Market.
Electric Scooter Market News
- In January 2024 - Riley Scooter, a Cambridge-based company proposed plans to introduce RS3 Electric Scooter, a fully foldable electric scooter in the U.S. at the Consumers Electronics Show held in Las Vegas.
- In February 2024 - Yamaha Motor Co., Ltd. announced that it has invested in World of River Limited, Inc. (hereinafter River), a startup that manufactures and sells electric scooters in India. This investment is for River's Series B round of funding through third-party allotment.
- In December 2023 - Gogoro, a Taiwanese player, unveiled the Gogoro Crossover GX250, a domestically produced electric scooter in India. The company offers a tailor-smart scooter to Indian riders. Introducing these models marked a strategic move for Komatsu to tap into the Indian electric scooter market.
- In October 2023 - Spurred by iQube success, TVS seeks to ‘change the game’ in EV with new launches. TVS Motor is stepping up its EV game with the planned launch of several models in this segment, including the much-awaited TVS X in the current quarter.
- In July 2023 - Ola plan for IPO as electric scooters take off in India reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021.
Voltage – Market breakup in 4 viewpoints:
1. 24 V
2. 36 V
3. 48 V
4. Greater than 48 V
Product – Market breakup in 3 viewpoints:
1. Folding
2. Standing/Self-Balancing
3. Retro
Battery Type – Market breakup in 3 viewpoints:
1. Li-ion
2. Lead Acid
3. Others
End Use – Market breakup in 2 viewpoints:
1. Personal
2. Commercial
Country – Market breakup of 25 Countries:
1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Product Portfolio & Product Launch in Last 1 Year
• Revenue
Company Analysis:
1. Yadea Technology Group Co. Ltd
2. Niu Technologies
3. Mahendra
4. Vmoto Limited
5. Amper Vehicles
6. BMW Motorrad International
7. Gogoro Inc.
8. Govecs Group
9. Hero Electric
10. Zhejiang Luyuan Electric Vehicle Co Ltd
Report Details:
| Report Features | Details |
| Base Year | 2023 |
| Historical Period | 2019 - 2023 |
| Forecast Period | 2024 - 2032 |
| Market | US$ Billion |
| Segment Covered | Voltage, Product, Battery Type, End Use, and Countries |
| Countries Covered | United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, New Zealand, Brazil, Mexico, Argentina, Saudi Arabia, United Arab Emirates, and South Africa |
| Companies Covered | Yadea Technology Group Co. Ltd., Niu Technologies, Mahindra, Vmoto Limited, Amper Vehicles, BMW Motorrad International, Gogoro Inc., Govecs Group, Hero Electric, Zhejiang Luyuan Electric Vehicle Co Ltd. |
| Customization Scope | 20% Free Customization |
| Post-Sale Analyst Support | 1 Year (52 Weeks) |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Electric Scooter Market
6. Market Share
6.1 Voltage
6.2 Product
6.3 Battery Type
6.4 End Use
6.5 Country
7. Voltage
7.1 24 V
7.1.1 Introduction
7.1.2 Market Size and Forecast, 2018–2032
7.2 36 V
7.2.1 Introduction
7.2.2 Market Size and Forecast, 2018–2032
7.3 48 V
7.3.1 Introduction
7.3.2 Market Size and Forecast, 2018–2032
7.4 Greater than 48 V
7.4.1 Introduction
7.4.2 Market Size and Forecast, 2018–2032
8. Product
8.1 Folding
8.1.1 Introduction
8.1.2 Market Size and Forecast, 2018–2032
8.2 Standing/Self-Balancing
8.2.1 Introduction
8.2.2 Market Size and Forecast, 2018–2032
8.3 Retro
8.3.1 Introduction
8.3.2 Market Size and Forecast, 2018–2032
9. Battery Type
9.1 Li-ion
9.1.1 Introduction
9.1.2 Market Size and Forecast, 2018–2032
9.2 Lead Acid
9.2.1 Introduction
9.2.2 Market Size and Forecast, 2018–2032
9.3 Others
9.3.1 Introduction
9.3.2 Market Size and Forecast, 2018–2032
10. End Use
10.1 Personal
10.1.1 Introduction
10.1.2 Market Size and Forecast, 2018–2032
10.2 Commercial
10.2.1 Introduction
10.2.2 Market Size and Forecast, 2018–2032
11. Country
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Thailand
11.3.6 Malaysia
11.3.7 Indonesia
11.3.8 Australia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 Saudi Arabia
11.5.2 UAE
11.5.3 South Africa
12. Porter’s Five Analysis
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat
14. Company Analysis
14.1 Yadea Technology Group Co. Ltd
14.1.1 Overview
14.1.2 Recent Development
14.1.3 Product Portfolio & Product Launch in Last 1 Year
14.1.4 Revenue
14.2 Niu Technologies
14.2.1 Overview
14.2.2 Recent Development
14.2.3 Product Portfolio & Product Launch in Last 1 Year
14.2.4 Revenue
14.3 Mahindra
14.3.1 Overview
14.3.2 Recent Development
14.3.3 Product Portfolio & Product Launch in Last 1 Year
14.3.4 Revenue
14.4 Vmoto Limited
14.4.1 Overview
14.4.2 Recent Development
14.4.3 Product Portfolio & Product Launch in Last 1 Year
14.4.4 Revenue
14.5 Amper Vehicles
14.5.1 Overview
14.5.2 Recent Development
14.5.3 Product Portfolio & Product Launch in Last 1 Year
14.5.4 Revenue
14.6 BMW Motorrad International
14.6.1 Overview
14.6.2 Recent Development
14.6.3 Product Portfolio & Product Launch in Last 1 Year
14.6.4 Revenue
14.7 Gogoro Inc.
14.7.1 Overview
14.7.2 Recent Development
14.7.3 Product Portfolio & Product Launch in Last 1 Year
14.7.4 Revenue
14.8 Govecs Group
14.8.1 Overview
14.8.2 Recent Development
14.8.3 Product Portfolio & Product Launch in Last 1 Year
14.9 Hero Electric
14.9.1 Overview
14.9.2 Recent Development
14.9.3 Product Portfolio & Product Launch in Last 1 Year
14.10 Zhejiang Luyuan Electric Vehicle Co Ltd
14.10.1 Overview
14.10.2 Recent Development
14.10.3 Product Portfolio & Product Launch in Last 1 Year
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