San Francisco, 25 July 2023: The Report Electric Scooters Market Size, Share & Trends Analysis Report By Battery (Lithium-ion, Lead-acid), By Drive Type (Belt Drive, Hub Motor), By End-use (Personal, Commercial), By Region, And Segment Forecasts, 2023 - 2030

The global electric scooters market size is expected to reach USD 78.65 billion by 2030, registering a CAGR of 9.9% during the forecast period, according to a study conducted by Grand View Research, Inc. Increasing demand for the air combating, fuel-economic high-performance vehicles is expected to fuel the growth of the industry. In addition, a growing number of government initiatives to increase the adoption of EVs, automobile manufacturers’ investment in the development of battery charging infrastructure, and rising disposable income in developing nations are expected to drive the growth further. Moreover, the ease of maneuverability and extensive driving agility of e-scooters are expected to boost their demand.

Key players are focusing on improving quality, enhancing performance, comfort, and safety, and lowering the cost of maintenance. In addition, prominent players are undertaking strategic steps to expand their customer base in the international market. They are focusing on launching a range of e-scooters. For instance, Gogoro, Inc., and KYMCO expanded their reach in other regions to capture the benefit of the untapped market. Furthermore, prominent players, such as GenZe by Mahindra, YAMAHA Motor Pvt. Ltd., Vässla Electric Scooters., and PURE EV, have invested in installing charging systems across various countries and are offering swappable battery systems in their e-scooter variants.

The Asia Pacific region is expected to witness the fastest CAGR over the forecast period due to increasing government focus on replacing the existing fleet with EVs in developing economies, such as China, India, and ASEAN countries. Moreover, government and e-scooter manufacturers are investing in developing the public charging infrastructure, which will encourage consumers to shift to e-scooters over their counterparts. The governments in European countries have been providing subsidies to drive the sales of battery-powered two-wheelers. These initiatives are anticipated to become more robust with increasing gasoline prices.

In addition, e-scooters have high mechanical efficiency and require low maintenance over their conventional counterparts, thus they are gaining traction in the market. In addition, the inclusion of e-scooters fleet in shared mobility and vehicle-renting ecosystems is propelling the demand for industry growth. The COVID-19 crisis has resulted in a global economic slowdown. Lockdown implementations in various parts of the world to curb the spread of the virus led to supply chain disruptions and a temporary ceasing of manufacturing activities. The pandemic affected the overall automotive industry, leading to a subsequent decline in the growth of the e-scooters market during the first half of 2020.

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Electric Scooters Market Report Highlights

• The personal end-use segment is expected to register the fastest growth rate from 2023 to 2030. This growth can be attributed to significant demand for e-scooters
• Based on battery, the lithium-ion segment dominated the industry in 2022 due to benefits, such as low cost and robustness
• Asia Pacific is expected to be the largest as well as the fastest-growing regional market during the forecast period
• This is owing to significant investments in vehicle charging infrastructure and government subsidies for battery-powered scooters

E-scooters became particularly vulnerable due to their dependency on global sourcing for batteries' materials and components. In addition, the initial purchase cost of e-vehicles is more than their gas-powered and hybrid counterparts, which further impacted the growth of the industry in emerging economies of the world. However, post-pandemic, increasing government initiatives, such as tax rebates and policy change, have resulted in a surge in demand for e-scooters adoption. Increasing adoption of e-scooter sharing services in countries, such as Spain, the U.S., Germany, and France, has spurred the demand for battery-powered two-wheelers.

Electric Scooters Market Report Scope

List of Key Players of the Electric Scooters Market

• AllCell Technologies LLC
• Yadea Technology Group Co., Ltd.
• BMW Motorrad International
• BOXX Corp.
• Gogoro, Inc.
• Green Energy Motors Corp.
• Greenwit Technologies Inc.
• Honda Motor Co. Ltd.
• Jiangsu Xinri E-Vehicle Co., Ltd.
• KTM AG
• Mahindra GenZe

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