E-Scooters Market Research Report - Global Forecast 2030

E-Scooters Market Research Report Information By Battery Type (Sealed Lead Acid, Li-Ion, and Ni-MH), By Technology (Plug-in and Battery Operated), By Voltage (36V, 24V, 48V, and More than 48V), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

ID: MRFR/AM/3771-HCR | | Region: Global | 100 Pages         

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Global Electric Scooters Market Overview

Market Size was valued at USD 23.5 billion in 2021. The market industry is projected to grow from USD 25.14 Billion in 2022 to USD 40.37 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.00% during the forecast period (2022 - 2030). increasing adoption of electric scooters owing to the increased fuel prices and growing environmental concerns are the key market drivers enhancing the market growth.
E-Scooters Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Market Trends

  • Rising demand for fuel-efficient e-scooters and electric motorcycles to boost the market growth

According to market dynamics, two key factors anticipated to significantly influence the expansion of the e-scooters business over the next years are the increasing demand for fuel-efficient e-scooters ly and the growing concern over the alarming rise in  pollution. Governments in many places have imposed strict emission limitations to slow the rate at which carbon levels are rising in the atmosphere. For example, the USA's Environmental Protection Agency (EPA) produced a rule to update the current national GHG emission regulations for light trucks and passenger cars.

The IEA (International Energy Agency) report published in 2020 mentioned that, since its introduction in 2017, electric micromobility choices had grown quickly. Shared electric scooters, electric-assist bikes, and electric mopeds are now accessible in more than 600 cities in more than 50 nations ly. Due to the prohibitions on two-wheelers with internal combustion engines in many Chinese cities, an estimated 350 million electric two- and three-wheelers, most of which are in China, account for 25% of all two- and three-wheelers now in use ly. According to market research, there are currently about 380 000 light commercial electric cars on the road, many of which are a part of fleets owned by businesses or government agencies.

Furthermore, the huge increase in demand for electric scooters in these regions is mostly due to increasing urbanization and increased population density, particularly in emerging countries. Additionally, it is a cost-effective and environmentally friendly means of transportation, which drives the e-scooters industry expansion during the anticipated period.

Figure 1: Reducing cost of electric scooters and motorcycles in India
Reducing cost of electric scooters and motorcycles in India
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

In recent years, many urban mobility fads have gained popularity, including shared bikes, e-scooters, and dockless bikes. Electric scooters are more feasible for short- and long-distance commutes and reduce overall travel time. As a result, the demand for e-scooters will increase more swiftly than that for electric cars in the next years.

However, to cater to the demand, there have been significant advances in e-scooters, which reduce the cost of e-scooters and motorcycles. This is another factor driving the growth of the industry revenue during the forecast period.

Market Segment Insights

E-Scooters Battery Type Insights

The  market segmentation, based on battery type, includes sealed lead acid, Li-Ion, and Ni-MH. According to market statistics, the sealed lead acid segment held the majority share in 2021, contributing to around 60% of the  E-Scooters market revenue. Due to its durability and cost-effective advantages, the sealed lead-acid battery sector dominated the market in 2021 with a sizeable market share. These batteries are rechargeable and can be fully charged 300 times before needing to be replaced. They are heavier than NiMH and Li-Ion batteries and have the shortest lifespan.

According to the market forecast, the lithium-ion battery segment is anticipated to grow at a significant CAGR. The demand for Li-Ion batteries has increased due to rising environmental consciousness and their superior performance over sealed-lead acid and NiMH batteries.

E-Scooters Voltage Insights

According to the market outlook, the market is segmented into 36V, 24V, 48V, and more than 48V based on voltage. Voltage-wise, the 36V sector dominated the market data in 2021. These batteries provide excellent power output and compatibility with e-scooters, which is anticipated to drive the segment's expansion. Li-Ion and NiMH batteries are primarily employed to meet the need for batteries used in 36V systems because of their much more compact designs, faster charging times, and lack of toxic chemical emissions compared to sealed lead-acid batteries. Hence, increased utilization of 36V batteries positively impacts the e-scooters market growth in 2021.

The more than 48V market is anticipated to experience significant growth between 2021 and 2030. E-scooters with 60V and 70V batteries are expected to experience substantial growth due to ongoing research and development efforts to increase their range and speed. To lower CO2 emissions into the atmosphere, high-voltage batteries are being updated with recovery and start-stop functions.

December 2022: With the help of the international electric racing series Formula E, micromobility manufacturer Zinc Sports has developed a new line of electric scooters. Its first model, the Formula E GZ1, was just announced and focused on use and safety at an alluring price. According to the manufacturer, the technology enables the scooter to automatically control speed, smooth out rough road surfaces, and offer a more stable riding experience overall. The robust 500-watt motor functions in tandem with all of these advanced capabilities. The 36V, 13-Ah lithium-ion battery pack already within the device ranges up to 31 miles on a single charge. Thus such developments have further broadened the growth opportunity for the E-Scooters industry.

April 2022: The brand's newest affordable, lightweight e-scooters built for urban commuters, the Yadea KS3 Lite, has just been presented. The biggest producer of e-scooters worldwide is Yadea. The KS3 Lite advertises a top speed of 15.6 mph (25 km/h) and claims its 500W motor can climb a 14% gradient. The e-scooters can support a maximum weight of 220 lb (100 kg), proving that it is not only a toy for children. Due to a very little 36V and 5.2Ah battery with only 187 Wh of capacity, the range is somewhat constrained. Although this sort of scooter is typically utilized for short-distance travel in urban areas, it only has a range of 12 miles (20 km).

Figure 2:  E-Scooters Market, by Voltage, 2021 & 2030 (USD Million)
E-Scooters Market, by Voltage, 2021 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

E-Scooters Regional Insights

By region, the study provides the e-scooters market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific e-scooters market accounted for USD 10.15 billion in 2021 and is expected to exhibit a 43.20% market CAGR during the study period. According to the market report, this is attributed to the growing demand for e-scooters and motorcycles in the Asia-Pacific countries, including China, India, Japan, and others, as well as a supportive government initiative across the region.

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

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

In 2021, the Asia-Pacific E-scooters market had the highest revenue. The bulk of electric scooter manufacturers ly is from China, Japan, and Taiwan, making up the largest percentage. The largest e-scooters importer, manufacturer, and exporter in the world right now is China. Major China e-scooters market participants, including AIMA Group, Yadea, Jiangsu Xinri Electric Vehicle Co., Ltd., Zhejiang Luyuan, and Niu International, are all based in China. Further, the China e-scooters market held the largest share, and the India e-scooters market was the fastest-growing market in the European region

North America E-Scooters market is expected to have a significant CAGR in during the forecast period. It is anticipated that increasing investments in infrastructure for electric scooter charging and research assistance for cutting-edge high-density batteries would help regional growth overall. For instance, Revel introduced 68 MUVI electric scooters made by the Spanish business Torrot when it entered the U.S. market with a USD 27.6 million investment. Further, the United States e-scooters market held the largest share, and the Canada e-scooters market was the fastest growing market in the North American region.

E-Scooters Key Market Players & Competitive Insights

Market players are spending a lot of money on R&D to increase their product lines, which will support the market growth. They are also taking various strategic initiatives to grow their  footprint, with key market developments such as contractual agreements, new product launches, increased investments, mergers and acquisitions, and collaboration with other companies. According to market competitive landscape, players must offer cost-effective products to expand and generate more revenue in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the  e-scooters industry to benefit customers and expand the market sector is manufacturing locally to reduce operating costs. In recent years, e-scooters industry has provided cost-effective electric scooters and motorcycles with some of the most significant benefits. The market major players such as Gogoro Inc. (Taiwan), Vmoto Limited (Australia), Terra Motors Corporation (Japan), Jiangsu Xinri Electric Vehicle Co. Ltd. (China), and Ather Energy (India), and others are working on expanding the market demand by investing in R&D activities.

Gogoro Inc. (Taiwan) is engaged in the manufacturing, distribution, and development of electric vehicles and their parts. A battery-swapping refueling platform for urban electric two-wheel scooters, mopeds, and motorbikes was created by the Taiwanese company Gogoro. Along with creating its line of electric scooters, it collaborates with partners in the automotive industry like Hero, Yamaha, Aeonmotor, PGO, eReady, and eMOVING to offer its vehicle innovations. For instance, in November 2022, Zypp Electric and Gogoro Inc. announced a strategic B2B initiative. The businesses are concentrated on utilizing battery switching to hasten the conversion of logistics fleets and last-mile deliveries to electric in urban areas.

Also, with its headquarters in Bangalore, Ather Energy is an Indian manufacturer of electric vehicles. Tarun Mehta and Swapnil Jain started it in 2013. The Ather 450X and the Ather 450 Plus are the electric scooters it produces. Ather Grid, a countrywide network of electric vehicle charging stations, has also been established. For instance, in January 2023, the upgraded 450X electric scooter was introduced by Ather Energy. It has four new colors, including Cosmic Black, Lunar Grey, Salt Green, and Ravishing Red, along with new seat and software improvements.

Key Companies in the E-Scooters market include

  • Gogoro Inc. (Taiwan)

  • Vmoto Limited (Australia)

  • Terra Motors Corporation (Japan)

  • Jiangsu Xinri Electric Vehicle Co. Ltd. (China)

  • Amego Electric Vehicles Inc. (Canada)

  • NYCeWheels (U.S.)

  • GOVECS GmbH (Germany)

  • Ampere Vehicles Pvt. Ltd. (India)

  • Hero Electric Vehicles Pvt. Ltd. (India)

  • Mahindra GenZe (U.S.)

  • Kumpan Electric (Germany)

  • Torrot Group (Spain)

  • Ather Energy (India), among others

E-Scooters Industry Developments

May 2022: Hero MotoCorp and the sovereign wealth fund National Infrastructure Investment Fund led the most recent round of funding for Bengaluru-based electric two-wheeler manufacturer Ather Energy, which raised $128 million (NIIF).

November 2021: Helbiz unveiled brand-new standing electric scooters to launch a new racing league.

August 2021: The company's first e-scooter, the Ola S1 series, was unveiled by Ola in India. The electric scooter models Ola S1 and Ola S1 Pro were made available.

E-Scooters Market Segmentation

E-Scooters Battery Type Outlook

  • Sealed Lead Acid

  • Li-Ion

  • Ni-MH

E-Scooters Technology Outlook

  • Plug-In

  • Battery Operated

E-Scooters Voltage Outlook

  • 36V

  • 24V

  • 48V

  • More than 48V

E-Scooters Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size 2021 USD 23.5 billion
Market Size 2022 USD 25.14 billion
Market Size 2030 USD 40.37 billion
Compound Annual Growth Rate (CAGR) 7.00% (2022-2030)
Base Year 2021
Market Forecast Period 2022-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Battery Type, Technology, Voltage, and Region
Geographies Covered North America, Europe, Asia-Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Gogoro Inc. (Taiwan), Vmoto Limited (Australia), Terra Motors Corporation (Japan), Jiangsu Xinri Electric Vehicle Co. Ltd. (China), Torrot Group (Spain), and Ather Energy (India)
Key Market Opportunities Increasing awareness regarding electric vehicles across the world
Key Market Dynamics Reducing cost of electric scooters and motorcycles Supportive government initiatives

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Frequently Asked Questions (FAQ) :

The  E-Scooters market size was valued at USD 23.50 Billion in 2021.

The  market is projected to register a CAGR of 7.00% during the forecast period 2022-2030.

Asia-Pacific had the largest share of the  market

The key players in the market are Gogoro Inc , Vmoto Limited, Terra Motors Corporation, Jiangsu Xinri Electric Vehicle Co. Ltd. , Amego Electric Vehicles Inc , and others.

The global e scooters market is expected to record a substantial market valuation fuel cost and maintenance of fuel-powered vehicles.

The 36V had the largest share in the market.