Electric Scooter Market is valued at USD 20.86 Billion in 2021 and is expected to reach USD 34.38 Billion by 2028 with a CAGR of 7.4% over the forecast period.
The electric scooter is a vehicle that runs with electric power. Different from the conventional scooters that run based on gas or oil. The electric scooter has two or three smaller diameter wheels with handlebars, is designed to be set upright upon by the operator, and it is powered by an electric motor that is capable of driving the device with or without human force at a speed no more than twenty miles per hour on a smooth level surface.
The global electric scooter market report is segmented on the basis of vehicle type, battery type, voltage, technology, and regional & country level. By vehicle type, the electric scooter market is segmented into retro, standing/self-balancing, and folding. By battery type, the market is segmented into sealed lead acid and li-ion. By voltage, the market is segmented into 36v, 48v, 60v, and 72v. By technology, the electric scooter market is segmented into plug-in and batteries.
The regions covered in this Global Electric Scooter Market report are North America, Europe, Asia-Pacific, and the Rest of the World. On the basis of country level, the market of Electric Scooter is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some major key players for the global Electric Scooter market are,
The global electric scooter market is expected to witness significant growth within the forecast period due to the increased demand for fuel-efficient vehicles for shorter distances, increasing carbon and greenhouse gas emissions, and some government initiatives boosting the adoption of green vehicles. Declining costs of batteries are also expected to create favorable opportunities for companies. For instance; according to McKinsey Company Analysis; the price of a whole automotive lithium-ion battery pack could drop from $500 to $600 per kilowatt-hour (kWh) nowadays, by 2020 it will drop around $200 per kWh and by 2025 it will drop at about $160 per kWh. Additionally, the market is driven by a strong presence of original equipment manufacturers (OEMs) improving their product portfolio. For instance, Avan Motors lines up six electric scooters and going to introduce one every 6 months in Indian Market. Electric scooter and motorcycle are lower in operating performance as compared to the usually used scooter and motorcycle is a factor restraining the market growth.
North America is expected to dominate the global electric scooter market owing to the introduction of electric scooter sharing fleets, improvement in battery technology, government incentives and policies, and less maintenance cost of such vehicles in this region. For instance; according to nacto.org; around 84 Million Trips have in used on shared bikes and scooters throughout the U.S. in 2018.
Europe's electric scooters market is expected to witness a strong growth rate due to the need to bring down carbon emissions across EU nations. Asia Pacific is anticipated to witness the fastest growth with the highest CAGR owing to the presence of leading players, increasing population, and growing concerns regarding the environment in this region.
Middle East and Africa
|2015 - 2020
|2021 - 2028
|Market Size in 2021:
|USD 20.86 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 34.38 Billion
|Tables, Charts & Figures:
|Electric Scooters Companies
|AllCell Technologies LLC., 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
|By Vehicle Type, By Battery Type, By Voltage, By Technology
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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