Electric Scooters Market Size & Share, By Product (Standing/Self-Balancing, Retro, and Folding), Battery (NiMH, Sealed Lead Acid, and Li-ion), Voltage (24V, 36V, 48V, and Greater than 48V), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Electric Scooters Market surpassed USD 37.52 Billion in 2023 and is predicted to exceed USD 90.67 Billion by end of the year 2032, growing at over 10.3% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 37.52 Billion
• CAGR (2024-2032): 10.3%
• Forecast Year Value (2032): USD 90.67 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing demand for eco-friendly and convenient modes of transportation is A significant factor fueling growth in the electric scooters market. As more consumers look for sustainable alternatives to gasoline-powered vehicles, the demand for electric scooters is expected to rise significantly.

The rising urbanization and traffic congestion in cities around the world is another important growth driver for the electric scooters market. With cities becoming more crowded and polluted, electric scooters offer a practical solution for commuters to navigate through traffic quickly and efficiently.

Advancements in battery technology and electric motors are also driving the growth of the electric scooters market. As batteries become more efficient and affordable, electric scooters are becoming a more viable and attractive option for consumers looking for a convenient and environmentally friendly mode of transportation.

Report Scope

Report Coverage	Details
Segments Covered	Product, Battery, Voltage
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Gogoro, AllCell Technologies LLC, BMW Motorrad International, BOXX Corp., Green Energy Motors Corp., Honda Motor Co.., Greenwit Technologies, Jiangsu Xinri E-Vehicle Co.., Mahindra GenZe, KTM AG, Peugeot Scooters, Terra Motors, Suzuki Motor, Vmoto Limited, Yamaha Motor Company Limited, Yadea Technology Group Co.., Xiaomi, Bird, Ninebot Limited, Lime, and Spin

Industry Restraints:

A major obstacle for the electric scooters market is the lack of infrastructure to support widespread adoption. Many cities do not have the necessary infrastructure, such as dedicated lanes or charging stations, to accommodate a large number of electric scooters on the road.

Another restraint for the electric scooters market is the safety concerns associated with riding electric scooters. Despite their benefits, electric scooters can pose risks to riders, especially in busy urban environments. As a result, concerns about safety and regulations may hinder the growth of the electric scooters market in some regions.

Regional Forecast:

Electric Scooters Market North America

The North America region, encompassing the United States and Canada, has witnessed significant growth in the electric scooters market in recent years. The rising demand for environmentally friendly transportation options, coupled with increasing investments in infrastructure for electric vehicles, has fueled the market's expansion in this region. The United States, in particular, has emerged as a key market for electric scooters, with major players such as Lime and Bird operating in cities across the country. Similarly, Canada has also seen a growing interest in electric scooters, with government initiatives promoting sustainable mobility solutions.

Electric Scooters Market Asia Pacific

In Asia Pacific, countries such as China, Japan, and South Korea have become hotspots for electric scooters. China, in particular, has experienced a surge in demand for electric scooters, driven by government incentives to promote clean energy transportation. Major manufacturers such as Xiaomi and Ninebot have flourished in the Chinese market, offering a wide range of electric scooter models to cater to different consumer preferences. Japan and South Korea have also seen a rise in the adoption of electric scooters, with a growing number of urban dwellers embracing these eco-friendly modes of transport.

Electric Scooters Market Europe

Europe, comprising the United Kingdom, Germany, and France, has become a key region for the electric scooters market. The European Union's stringent regulations on emissions have propelled the adoption of electric vehicles, including scooters, in these countries. The United Kingdom, in particular, has seen a boom in electric scooter rentals, with companies like Voi and Tier operating in major cities like London and Manchester. Similarly, Germany and France have also witnessed a growing interest in electric scooters, as consumers seek alternative modes of transport to reduce their carbon footprint.

Segmentation Analysis:

In terms of segmentation, the global Electric Scooters market is analyzed on the basis of Product, Battery, Voltage.

Standing/Self-Balancing Electric Scooters:

The standing/self-balancing electric scooters segment is expected to witness significant growth in the market, primarily driven by the increasing demand for convenient and eco-friendly urban transportation solutions. These scooters offer users the ability to easily navigate through urban environments while standing, making them a popular choice among commuters.

Retro Electric Scooters:

The retro electric scooters segment is gaining traction among consumers looking for a stylish and nostalgic mode of transportation. These scooters often feature a vintage design combined with modern electric technology, making them a unique option in the market. The retro electric scooters segment is expected to see steady growth as more consumers seek out personalized and fashionable electric vehicles.

Folding Electric Scooters:

The folding electric scooters segment is anticipated to experience growth in the market, driven by the increasing need for portable and compact transportation solutions. These scooters can be easily folded and carried or stored in small spaces, making them an ideal choice for individuals with limited storage or transportation options. The convenience and practicality of folding electric scooters make them a popular choice for last-mile transportation.

NiMH Battery Electric Scooters:

The NiMH battery electric scooters segment is likely to see steady growth, as NiMH batteries offer a balance between performance, cost, and environmental impact. These batteries are known for their reliability and longevity, making them a popular choice among electric scooter manufacturers and consumers alike. The NiMH battery electric scooters segment is expected to remain competitive in the market due to its proven track record and cost-effectiveness.

Sealed Lead Acid Battery Electric Scooters:

The sealed lead acid battery electric scooters segment is projected to witness moderate growth, with specific appeal to consumers looking for affordable and reliable electric scooters. Sealed lead acid batteries are known for their low cost and durability, making them a practical option for entry-level electric scooter models. Despite facing competition from more advanced battery technologies, the sealed lead acid battery electric scooters segment is expected to maintain a stable presence in the market.

Li-ion Battery Electric Scooters:

The Li-ion battery electric scooters segment is anticipated to lead the market growth, driven by the superior performance, energy efficiency, and longevity of lithium-ion batteries. These batteries offer a higher energy density and faster charging capabilities, making them a popular choice among premium electric scooter manufacturers and consumers seeking high-performance vehicles. The Li-ion battery electric scooters segment is expected to dominate the market due to the ongoing advancements in lithium-ion battery technology and increasing demand for sustainable transportation solutions.

24V Voltage Electric Scooters:

The 24V voltage electric scooters segment is projected to witness steady growth, catering to consumers looking for entry-level electric scooters with basic performance capabilities. These scooters are ideal for short-distance commuting and recreational use, offering a balance between affordability and functionality. The 24V voltage electric scooters segment is expected to remain competitive in the market as a practical choice for budget-conscious consumers.

36V Voltage Electric Scooters:

The 36V voltage electric scooters segment is expected to experience moderate growth, appealing to consumers seeking a balance between performance and cost. These scooters offer improved acceleration and speed compared to lower voltage models, making them a popular choice among commuters and recreational riders. The 36V voltage electric scooters segment is likely to see continued demand in the market as consumers increasingly prioritize a mix of performance and affordability.

48V Voltage Electric Scooters:

The 48V voltage electric scooters segment is anticipated to witness strong growth in the market, driven by the increasing demand for electric scooters with higher power outputs and longer ranges. These scooters offer enhanced performance and speed capabilities, making them a preferred choice among users looking for an electric vehicle with extended range and improved acceleration. The 48V voltage electric scooters segment is expected to lead the market growth as consumers prioritize high-performance electric vehicles for daily commuting and recreational purposes.

Greater than 48V Voltage Electric Scooters:

The greater than 48V voltage electric scooters segment is expected to see robust growth in the market, targeting consumers seeking top-tier electric scooters with unparalleled performance and cutting-edge technology. These scooters boast superior power outputs, speed, and range capabilities, making them ideal for advanced riders and enthusiasts. The greater than 48V voltage electric scooters segment is projected to drive market innovation and set new benchmarks in the electric scooter industry as manufacturers continue to push the boundaries of performance and technology.

Competitive Landscape:

The competitive landscape in the Electric Scooters Market is characterized by rapid innovation and diverse product offerings from both established players and new entrants. Companies are focusing on enhancing battery technology, improving range, and integrating smart features to attract environmentally conscious consumers. Additionally, growing urbanization and a push for sustainable transit solutions have intensified competition, leading to strategic partnerships and collaborations among manufacturers, technology providers, and service operators. The market is also witnessing an increase in shared electric scooter services, further driving the need for robust and reliable electric scooter designs that cater to both individual and communal use.

Top Market Players

- Xiaomi

- Segway-Ninebot

- Razor USA

- P scooter

- Unagi Electric Scooter

- Bird Rides

- Lime

- GoTrax

- Apollo Scooters

- NIU Technologies