Electric Scooters Market Size

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.

Industry

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

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.