Electric Scooter Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By Product Type (Retro, Standing/Self Balancing, Folding), By Battery Type (Sealed Lead Acid, NiMh, Li-Ion), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
- Published Date: February 2022
- Report ID: BWC22054
- Available Format: PDF
- Page: 192
Report Overview
Increasing focus on carbon emissions and sustainability are driving the global electric scooter market. Additionally, favorable government initiatives and private-public investments in strengthening charging infrastructure is expected to positively influence the market.
Global Electric Scooter Market- Industry Trends & Forecast Report 2028
The global electric scooter market is estimated to grow at the CAGR of 23.0% in the forecast period (2022-2028). The rapid growth of the global electric scooter market can be attributed to the growing awareness of carbon emissions and footprint, as well as the shift from conventional transportation modes for short distances. Furthermore, government initiatives and monetary incentives aimed at boosting the purchase of electric scooters contribute to the growth of the market.
Electric Scooters – A Brief Overview
An electric scooter is a three-wheeler vehicle powered by an electric motor and is designed to let the rider stand on it to operate. This vehicle is also capable of functioning with or without human propulsion. The electric scooter uses a rechargeable battery, which is stored onboard, but there are also variations of hybrid and fuel cell. The average range of an electric vehicle is between 6 and 25 miles, with the exception of certain brands.
Electric Scooter Market Forecast and Trends
Growth Drivers
Increasing Awareness of the Environment and Sustainability
The increasing level of air and noise pollution and carbon footprint through fuel vehicles are anticipated to fuel the growth of the electric scooter market. Electrified scooters are becoming a popular substitute for short-distance commutes, leaving little to no carbon footprint. Electric vehicles produce zero direct emissions because they run entirely on electricity. The demand for electric vehicles is expected to surge in the forecast period due to greater consciousness about the environment and sustainability, especially among the younger demographic.
Establishment of New Charging Points
The government and private players in different regions are significantly investing in boosting the number of charging points in their respective countries. This is anticipated to emerge as a crucial factor in boosting the adoption of electric scooters among the masses. For instance, the White House recently announced the investment of USD 7.5 billion under the “Biden-Harris Electric Vehicle Charging Action Plan”, on electric vehicle infrastructure to increase the number of charging stations in the United States from 100,000 to 500,000
Restraints
Lack of Charging Infrastructure
The lack of charging infrastructure is one of the major restraining factors for the entire electric vehicle market, including electric scooters as well. The range of electric scooters is very low and therefore, requires frequent charging. However, the charging points are very limited and are still concentrated in urban and developed cities only. Since the number of charging points is incredibly low in developing and underdeveloped countries, this may limit the adoption of electric scooters at the mass level, sabotaging the entire market growth.
Impact of COVID-19 on the Global Electric Scooter Market
The growth of the global electric scooter market was negatively hindered due to the sudden COVID-19 pandemic outbreak. The nationwide lockdown in different parts of the world restricted the production activities for electric scooters during the COVID-19 period. Even after the lockdown ended and production resumed, the market still faced a shortage of components. However, the pandemic also appeared to offer growth opportunities for the electric scooter market because of increased awareness of the environment and sustainability.
Global Electric Scooter Market - By Product Type
Based on product types, the global electric scooter market is segmented into retro, standing/self-balancing, and folding. The retro segment holds the largest market share as they are considered most suitable for commuting shorter distances. The low procurement and maintenance costs involved with retro electric scooters, are significantly attracting the younger and working adults’ demographics, which is anticipated to propel its market growth during the forecast period. However, the folding electric scooter is also growing at a substantial rate.
Global Electric Scooter Market - By Battery Type
Based on battery types, the global electric scooter market is segmented into sealed lead acid (SLA), NiMh, and li-ion. The sealed lead-acid battery segment accounts for the largest market share since it offers higher power and energy per KWH. SLA batteries are also considered more reliable and have a longer life span, which makes them more economical. However, the Li-ion battery segment is anticipated to register the highest CAGR during the forecast period owing to its higher energy density, voltage capacity, and lower self-discharge rate.
Global Electric Scooter Market - Regional Insights
Geographically, the electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Europe dominates the electric scooter market, followed by North America. The high awareness towards sustainability and carbon emission along with favorable government initiatives and incentives plays a crucial factor in propelling the growth of the market. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period owing to the increasing launches of electric scooters in emerging economies.
Global Electric Scooter Market - Competitive Landscape
The leading market players in the global electric scooter market are Ather Energy Pvt. Ltd., Hero Electric Optima, Bird, Neutron Holdings, Inc., 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, Peugeot Scooters, Suzuki Motor Corporation, Terra Motors Corporation, Vmoto Limited, Yamaha Motor Company Ltd., and other prominent players.
The global electric scooter market is highly fragmented due to the presence of several multinational corporations as well as micro mobility startups. The regional startups are giving tough competition to the established players in terms of their offerings. Moreover, the companies are focusing on expanding their target market and moving beyond geographical boundaries, because of which they are launching their products in different countries. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Recent Developments
- In August 2021, Bolt, an Estonian mobility company, announced the launch of electric scooters in Imperia, Italy for citizens and tourists to promote affordable and sustainable micro-mobility services.
- In June 2021, Spin, the micro mobility subsidiary of Ford, announced the launch of the S-100T 1st edition, its new flagship electric scooter for the United States market.
Scope of the Report
| Attributes | Details |
| Years Considered | Historical data – 2018-2021 |
| Base Year – 2021 | |
| Forecast – 2022 – 2028 | |
| Facts Covered | Revenue in USD Million |
| Market Coverage | U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
| Product Service/Segmentation | By Product Type, By Battery Type, By Region |
| Key Players | Ather Energy Pvt. Ltd., Hero Electric Optima, Bird, Neutron Holdings, Inc., 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, Peugeot Scooters, Suzuki Motor Corporation, Terra Motors Corporation, Vmoto Limited, Yamaha Motor Company Ltd., and other prominent players. |
By Product Type
- Retro
- Standing/Self Balancing
- Folding
By Battery Type
- Sealed Lead Acid
- NiMh
- Li-Ion
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Increasing Consciousness Towards Environment and Sustainability
- Establishment of New Charging Points
- Market Restraints
- Lack of Charging Infrastructure
- Market Challenges
- Negative Impact of the COVID-19 Pandemic Outbreak
- Market Opportunity
- Launch of New and Innovative Products
- Favorable Government Initiatives and Incentives
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Electric Scooter Market Overview
- Market Size & Forecast by Value, 2018-2028
- Market Size and Forecast, By Segment
- By Product Type
- Retro
- Standing/Self Balancing
- Folding
- By Battery Type
- Sealed Lead Acid
- NiMh
- Li-Ion
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Product Type
- North America Electric Scooter Market Overview
- Market Size and Forecast
- By Value (USD Million), 2018-2028
- Market Share and Forecast
- By Product Type
- By Battery Type
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Electric Scooter Market Overview
- Market Size and Forecast
- By Value (USD Million), 2018-2028
- Market Share and Forecast
- By Product Type
- By Battery Type
- By Country
- Germany
- U.K.
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Forecast
- APAC Electric Scooter Market Overview
- Market Size and Forecast
- By Value (USD Million), 2018-2028
- Market Share and Forecast
- By Product Type
- By Battery Type
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Electric Scooter Market Overview
- Market Size and Forecast
- By Value (USD Million), 2018-2028
- Market Share and Forecast
- By Product Type
- By Battery Type
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Electric Scooter Market Overview
- Market Size and Forecast
- By Value (USD Million), 2018-2028
- Market Share and Forecast
- By Product Type
- By Battery Type
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2021)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on Electric Scooter Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Ather Energy Pvt. Ltd.
- Hero Electric Optima
- Bird
- Neutron Holdings, Inc.
- 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
- Peugeot Scooters
- Suzuki Motor Corporation
- Terra Motors Corporation
- Vmoto Limited
- Yamaha Motor Company Ltd.
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Electric Scooter Market Segmentation
Figure 2: Electric Scooter Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2021
Figure 4: Electric Scooter Market Size, By Value (USD Million), 2018-2028
Figure 5: Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
Figure 6: Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
Figure 7: Electric Scooter Market Share (%), By Region, By Value, 2018-2028
Figure 8: North America Electric Scooter Market Size, By Value (USD Million), 2018-2028
Figure 9: North America Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
Figure 10: North America Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
Figure 11: North America Electric Scooter Market Share (%), By Country, By Value, 2018-2028
Figure 12: Europe Electric Scooter Market Size, By Value (USD Million), 2018-2028
Figure 13: Europe Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
Figure 14: Europe Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
Figure 15: Europe Electric Scooter Market Share (%), By Country, By Value, 2018-2028
Figure 16: Asia-Pacific Electric Scooter Market Size, By Value (USD Million), 2018-2028
Figure 17: Asia-Pacific Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
Figure 18: Asia-Pacific Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
Figure 19: Asia-Pacific Electric Scooter Market Share (%), By Country, By Value, 2018-2028
Figure 20: Latin America Electric Scooter Market Size, By Value (USD Million), 2018-2028
Figure 21: Latin America Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
Figure 22: Latin America Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
Figure 23: Latin America Electric Scooter Market Share (%), By Country, By Value, 2018-2028
Figure 24: Middle East & Africa Electric Scooter Market Size, By Value (USD Million), 2018-2028
Figure 25: Middle East & Africa Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
Figure 26: Middle East & Africa Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
Figure 27: Middle East & Africa Electric Scooter Market Share (%), By Region, By Value, 2018-2028
List of Tables
Table 1: Electric Scooter Market Size, By Product Type, By Value, 2018-2028
Table 2: Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
Table 3: Electric Scooter Market Size, By Region, By Value (USD Million), 2018-2028
Table 4: North America Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 5: North America Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
Table 6: North America Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
Table 7: Europe Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 8: Europe Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
Table 9: Europe Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
Table 10: Asia-Pacific Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 11: Asia-Pacific Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
Table 12: Asia-Pacific Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
Table 13: Latin America Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 14: Latin America Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
Table 15: Latin America Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
Table 16: The Middle-East & Africa Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
Table 17: The Middle-East & Africa Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
Table 18: The Middle-East & Africa Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
Table 19: Ather Energy Pvt. Ltd. Financial Analysis
Table 20: Ather Energy Pvt. Ltd. Business Overview
Table 21: Hero Electric Optima Financial Analysis
Table 22: Hero Electric Optima Business Overview
Table 23: Bird Corporation Financial Analysis
Table 24: Bird Corporation Business Overview
Table 25: Neutron Holdings, Inc. Financial Analysis
Table 26: Neutron Holdings, Inc. Business Overview
Table 27: AllCell Technologies LLC Financial Analysis
Table 28: AllCell Technologies LLC Business Overview
Table 29: BMW Motorrad International Financial Analysis
Table 30: BMW Motorrad International Business Overview
Table 31: BOXX Corp. Financial Analysis
Table 32: BOXX Corp. Business Overview
Table 33: Gogoro, Inc. Financial Analysis
Table 34: Gogoro, Inc. Business Overview
Table 35: Green Energy Motors Corp. Financial Analysis
Table 36: Green Energy Motors Corp. Business Overview
Table 37: Greenwit Technologies Inc. Financial Analysis
Table 38: Greenwit Technologies Inc. Business Overview
Table 39: Honda Motor Co. Ltd. Financial Analysis
Table 40: Honda Motor Co. Ltd. Financial Analysis
Table 41: Jiangsu Xinri E-Vehicle Co., Ltd. Financial Analysis
Table 42: Jiangsu Xinri E-Vehicle Co., Ltd. Financial Analysis
Table 43: KTM AG Financial Analysis
Table 44: KTM AG Financial Analysis
Table 45: Mahindra GenZe Financial Analysis
Table 46: Mahindra GenZe Financial Analysis
Table 47: Peugeot Scooters Financial Analysis
Table 48: Peugeot Scooters Financial Analysis
Table 49: Suzuki Motor Corporation Financial Analysis
Table 50: Suzuki Motor Corporation Financial Analysis
Table 51: Terra Motors Corporation Financial Analysis
Table 52: Terra Motors Corporation Financial Analysis
Table 53: Vmoto Limited Financial Analysis
Table 54: Vmoto Limited Financial Analysis
Table 55: Yamaha Motor Company Ltd. Financial Analysis
Table 56: Yamaha Motor Company Ltd. Financial Analysis
Market Segmentation
By Product Type
- Retro
- Standing/Self Balancing
- Folding
By Battery Type
- Sealed Lead Acid
- NiMh
- Li-Ion
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
Frequently Asked Questions (FAQs):
4. Which battery type segment accounted for the largest share in the global electric scooter market?
RELATED REPORTS
WHY CHOOSE US
-
24/7 Research Support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Custom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
-
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.