Global Electric Scooter Market is predicted to reach US$ 37.44 Billion by 2028, at 13% CAGR Growth
21 Nov, 2023

According to Renub Research's latest report, "Electric Scooter Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” the Global Electric Scooters Market is estimated to reach US$ 37.44 Billion by 2028. 

Electric scooters are taking over the town streets. It is a popular option for closing-mile motors and a tremendous way to avoid town traffic jams. Furthermore, people regard electric scooters as each a greener and more stylish mode of transportation. It's no surprise that municipalities and people are more and more adopting those scooters. Electric scooters are one of the globe’s quickest-developing micro-mobility alternatives. After a decade of rapid increase, the worldwide electric 2-wheeler (scooter plus motorcycles) market will reach 10 million in 2021, representing an 81% increase over pre-pandemic 2019 and a 17.5% percentage of the whole 2-wheeler industry. Moreover, those motorcycles encompass sensors & electric displays that offer additional help to the rider required for a smooth trip.

Several governments are currently undertaking initiatives to sell cleanenergy sources via enforcing stringent emission requirements and presenting subsidies and tax breaks for the early adoption of electric wheelers and other low-emission vehicles to help in meeting the stringent emission regulations. Unlike maximum different nations, New Zealand's legislation does now not mainly refer to electric scooters as motors vehicles. These scooters do no longer meet the definition of a motor automobile and may be used without registration or a driver's license, contributing to the country market growth.

Factors such as growing authorities initiatives closer to electric mobility, rising fuel costs, and consumer desire for e-bikes as a green and efficient mode of transportation are contributing to the growth of the electric scooter market. However, the excessive initial cost of e-motorcycles and scooters, in addition a ban on using e-bikes in Chinese cities, are expected to stymie the boom of the electrical scooter industry. Furthermore, improvements in infrastructure and on-going improvements in battery technology create market opportunities for the market key players.

Retro lead acid remains the most preferred choice for batteries.

The global electric scooter market is divided into three product categories: folding, standing/self-balancing, and retro scooters. 

Due to growing protection and fuel charges, which have made electric powered scooters an appealing transportation opportunity, the retro section dominated the market sales proportion. With growing pressure to reduce carbon footprints, electric transportation is turning into an eco-friendly alternative.

In upcoming years, the folding variant is expected to grow unexpectedly. The introduction of next-technology smart electric scooters with big data and IoT, in addition to the need for product differentiation, has propelled the folding scooter market to develop. These scooters have received reputation within the United States because they do no longer have the initial barriers of energy and weight. Furthermore, the want to revolutionize accelerated traffic and mobility has caused companies to produce folding electric scooters.

Report Details:

Lithium-ion polymer segment is to rise at a substantial pace during the upcoming years.

Based on battery technology, the lithium-ion segment is expected to dominate the electric scooter market. The lithium-ion polymer section is anticipated to broaden on the fastest CAGR during forecast year. Lithium-ion polymer rapid increase may be attributed to low-fee manufacturing, simple mobile creation, high electricity density, lightweight batteries, high resistance to physical harm, and decrease probabilities of electrolyte leakage.

Because of the advantages of the Lead-Acid battery, inclusive of durability, damage tolerance, and low fee, the Lead-Acid battery section dominated the market. However, due to the dimensions and fast drain of SLA batteries, even if now not carrying massive loads, their usage is projected to lessen in the upcoming years.

36 V Battery-Powered Vehicles will hold dominating revenue share.

The 36 V battery categories accounted for the outmost revenue share, and it's far expected to keep its dominance in the forecast years. This is because of expanded customer desire for 36 V battery-powered wheelers that have a better gain-to-cost ratio, in addition to expanded client demand for high speed motors with durable bodies and improved aesthetics.

The Above 48V segment will increase in the forecast year. Consumer preference for high-voltage e-scooters for long-distance travel and to avoid frequent battery charging will pressure this sector's growth. Furthermore, in order to lessen CO2 emissions, high-voltage batteries are being stepped forward with healing and begin-prevent capabilities.

APAC leads the global market, but Europe shows the strongest growth potential.

Asia Pacific has the supreme market percentage within the electric powered scooter industry due to costs in charging infrastructure and government incentives for battery-powered scooters. China is the region's main market for electric powered scooters, as well as its biggest production hub. More commuters in China are investing in their long term daily transportation needs through purchasing e-scooters, accelerating the increase of this massive market.

Europe is the world's second-largest market region. During the forecast period, this region will experience the most robust growth. Europe's market value will increase by 2028, as will its market share. Electric vehicle adoption remains at the top of many European countries' agendas for reducing carbon emissions. Electric scooter sales are increasing in this region, just as electric car sales are increasing.

Europe is the world 2d-largest region for the electric scooter market. During the forecast years, Europe will gain the maximum industry growth. Europe's market value will increase with the aid of 2028, as well as its market percentage. Electric car adoption remains at the top of many European countries agendas for lowering carbon emissions. The growth of the European electric scooter market is driven by factors such as the increasing adoption of electric motorcycles and e-bikes for short commutes, the rising deployment of electric scooters for ride-sharing services in Europe, and the implementation of stringent emission regulations. Furthermore, rising health awareness among millennials is expected to offer lucrative opportunities for players operating in the European electric scooter market.

Key Players

Energica Motor Company, Niu Technologies, Vmoto Limited, Yadea Group Holdings Ltd, and KTM Group are main company in the electric scooter market.

In October 2021, Ford will collaborate with the new lab to make contributions in the electric automobile technologies to the mobility innovation initiative.

Market Summary: 

• Product – Market breakup from 3 viewpoints (Retro, Standing/Self Balancing, and Folding)
• Battery Type – Market breakup from 2 viewpoints (Lithium-ion (Li-Ion) and Lead Acid)
• By Battery Voltage – Market breakup from 4 viewpoints (24V, 36V, 48V, and above 48V)
• Regions have been covered from 4 viewpoints (Asia Pacific, North America, Europe, and Rest of World)
• All companies have been covered from 3 viewpoints (Overview, Recent Development, Initiatives, and Revenue): Energica Motor Company, Niu Technologies, Vmoto Limited, Yadea Group Holdings Ltd, and KTM Group.

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