Electric Scooter Battery Market

Rising Demand for EVs is driving the market growth

Market CAGR for electric scooters and battery is being driven by the increasing cost of petroleum products is one of the significant factors driving the electric scooter and battery market growth. The growing cost of gasoline is already impacting consumers in emerging markets. Electric two-wheelers will significantly lower the running costs of these vehicles owing to being more fuel-efficient than conventional two-wheelers. With a longer range than the existing generation of e-two wheelers, this scooter is expected to be developed by manufacturers. Maintenance will not be a problem as there are more irregular moving domains than on traditional two-wheelers.

The most costly maintenance is changing the battery, which is rarely done.

Additionally, the increasing adoption of these scooters across the globe is boosting market growth owing to their advantages, such as low noise levels, low maintenance prices, and high mechanical efficiency. Governments also offer monetary and non-monetary incentives, which result in significant market growth. Customers are more intended about the environmental impact of conventional methods of transportation and are moving to electric scooters.

The increasing cost of fossil fuels appears to be driving consumers towards alternative transportation options, particularly electric scooters, within the Global Electric Scooter and Battery Market Industry. As fuel prices rise, the economic advantages of electric scooters become more apparent, offering lower operational costs and reduced dependence on traditional fuel sources. This shift in consumer behavior is likely to enhance the attractiveness of electric scooters, leading to increased sales and market penetration. Consequently, the market is poised for growth, as more individuals seek cost-effective and environmentally friendly transportation solutions.

The rapid pace of urbanization globally appears to be a major driver for the Global Electric Scooter and Battery Market Industry. As more people migrate to urban areas, the demand for efficient and eco-friendly transportation options increases. Electric scooters offer a practical solution to the challenges of urban congestion and pollution. In cities where public transport may be limited, electric scooters provide a flexible alternative. This trend is expected to contribute significantly to the market, with projections indicating a market value of 3.47 USD Billion in 2024, reflecting the growing preference for sustainable mobility solutions.

Heightened awareness regarding environmental issues seems to be influencing consumer choices in the Global Electric Scooter and Battery Market Industry. As climate change concerns escalate, individuals and governments are increasingly seeking sustainable transportation options. Electric scooters, which produce zero emissions during operation, align with these environmental goals. This shift is further supported by various government incentives aimed at promoting electric mobility. The market is likely to benefit from this trend, as consumers opt for electric scooters over traditional vehicles, thereby contributing to a projected market growth to 17.0 USD Billion by 2035.

Government initiatives aimed at promoting electric mobility seem to play a crucial role in the expansion of the Global Electric Scooter and Battery Market Industry. Many countries are implementing policies that encourage the adoption of electric scooters, such as subsidies, tax incentives, and the establishment of charging infrastructure. These initiatives not only lower the financial barriers for consumers but also create a supportive ecosystem for electric mobility. As governments worldwide prioritize sustainable transportation solutions, the market is likely to witness accelerated growth, further solidifying the role of electric scooters in urban mobility.

The Global Electric Scooter and Battery Market Industry is projected to experience substantial growth over the coming years. With a market value of 3.47 USD Billion anticipated in 2024, the industry is expected to expand significantly, reaching an estimated 17.0 USD Billion by 2035. This growth trajectory suggests a robust demand for electric scooters and their associated battery technologies, driven by factors such as urbanization, environmental concerns, and technological advancements. The anticipated CAGR of 15.57% from 2025 to 2035 indicates a promising outlook for stakeholders in the electric mobility sector.

Technological innovations in battery technology and electric scooter design appear to be propelling the Global Electric Scooter and Battery Market Industry forward. Advances such as improved battery efficiency, faster charging times, and enhanced safety features are making electric scooters more appealing to consumers. For instance, the development of lithium-ion batteries has significantly increased the range and performance of electric scooters. These advancements not only enhance user experience but also expand the potential customer base. As a result, the market is expected to grow at a CAGR of 15.57% from 2025 to 2035, indicating a robust future for electric mobility.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific electric scooter and battery market will dominate this market, owing to the increasing affordability of e-scooters, and growing awareness among customers regarding clean energy transportation to curb vehicular emissions will boost the market growth in this region. Moreover, China’s electric scooter and battery market held the largest market share, and the Indian electric scooter and battery market was the fastest-growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Electric Scooter and Battery Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe's electric scooter and battery market accounts for the second-largest market share due to the growing investments in EV charging infrastructure and research support for innovative high-density batteries in this region. Further, the German electric scooter and battery market held the largest market share, and the UK electric scooter and battery market was the fastest-growing market in the European region.

The North American electric scooter and battery market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to rising consumer awareness regarding the negative impact of carbon emissions. Moreover, US electric scooter and battery market held the largest market share, and the Canadian electric scooter and battery market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the electric scooter and battery market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the electric scooter and battery industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global electric scooter and battery industry to benefit clients and increase the market sector. Major players in the electric scooter and battery market, including Sanyo, Sony, Samsung, Panasonic, LG, Chilwee Group, and others, are attempting to increase market demand by investing in research and development operations.

Gogoro is a Taiwanese company that developed a battery-swapping refueling platform for urban electric two-wheel scooters, mopeds and motorcycles. The company manufactures two-wheeled electric vehicles and battery swapping infrastructure. The Company offers a smart electric scooter with cloud connectivity and an electric powertrain that utilizes swappable battery infrastructure for gathering, analyzing, and sharing riding data via a mobile application on the rider's smartphone. Gogoro serves customers in Taiwan. In September 2022, Gogoro Inc. introduced Smart scooters and a battery-swapping system in the Tel Aviv metropolitan area.

In the future, the products will also be introduced in additional Israeli cities in collaboration with Paz Group and Metro Motor.

Vmoto Limited is a manufacturer and supplier of electric-powered scooters. The product portfolio of the company includes electric scooters and four-wheel vehicles. It offers products under three brands, Vmoto, Super Soco and E-Max. The company’s Super Soco brand portfolio includes Super Soco 4000W, CPX, TC, TS, MAX and CUX. Its E-Max's products include VT100LD and VT120LD. Vmoto has manufacturing facilities located in Nanjing, China. In February 2021, Vmoto Limited expanded its e-scooter portfolio by adding TS, TC, and CUmini models.