Report Overview

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 1^st edition, its new flagship electric scooter for the United States market.

Scope of the Report

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Consciousness Towards Environment and Sustainability
         2. Establishment of New Charging Points
      2. Market Restraints
         1. Lack of Charging Infrastructure
      3. Market Challenges
         1. Negative Impact of the COVID-19 Pandemic Outbreak
      4. Market Opportunity
         1. Launch of New and Innovative Products
         2. Favorable Government Initiatives and Incentives
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Electric Scooter Market Overview
   1. Market Size & Forecast by Value, 2018-2028
   2. Market Size and Forecast, By Segment
      1. By Product Type
         1. Retro
         2. Standing/Self Balancing
         3. Folding
      2. By Battery Type
         1. Sealed Lead Acid
         2. NiMh
         3. Li-Ion
      3. By Region
         1. North America
         2. Europe
         3. Asia-Pacific
         4. Latin America
         5. Middle East & Africa
6. North America Electric Scooter Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By Battery Type
      3. By Country
         1. U.S.
         2. Canada
7. Europe Electric Scooter Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By Battery Type
      3. By Country
         1. Germany
         2. U.K.
         3. Russia
         4. France
         5. Italy
         6. Spain
         7. Rest of Europe
8. APAC Electric Scooter Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By Battery Type
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of APAC
9. LATAM Electric Scooter Market Overview
   1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
   2. Market Share and Forecast
      1. By Product Type
      2. By Battery Type
      3. By Country
         1. Mexico
         2. Brazil
         3. Rest of LATAM
10. MEA Electric Scooter Market Overview
    1. Market Size and Forecast
       1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
       1. By Product Type
       2. By Battery Type
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2021)
    3. Competitive Benchmarking by Operating Parameters
12. Impact of COVID-19 on Electric Scooter Market
13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Ather Energy Pvt. Ltd.
    2. Hero Electric Optima
    3. Bird
    4. Neutron Holdings, Inc.
    5. AllCell Technologies LLC
    6. BMW Motorrad International
    7. BOXX Corp.
    8. Gogoro, Inc.
    9. Green Energy Motors Corp.
    10. Greenwit Technologies Inc.
    11. Honda Motor Co. Ltd.
    12. Jiangsu Xinri E-Vehicle Co., Ltd.
    13. KTM AG
    14. Mahindra GenZe
    15. Peugeot Scooters
    16. Suzuki Motor Corporation
    17. Terra Motors Corporation
    18. Vmoto Limited
    19. Yamaha Motor Company Ltd.
    20. Other Prominent Players
14. 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