Scooter Market Size

Market Outlook:

Scooter Market crossed USD 75.15 Billion in 2023 and is estimated to reach USD 119.17 Billion by end of the year 2032, witnessing more than 6.2% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 75.15 Billion
• CAGR (2024-2032): 6.2%
• Forecast Year Value (2032): USD 119.17 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing popularity of electric scooters as an environmentally friendly mode of transportation is a major growth driver for the scooter market. With the rising awareness about sustainability and the need to reduce carbon emissions, consumers are more inclined towards electric scooters over traditional fuel-powered ones.

The growing urbanization and congestion in cities are also driving the demand for scooters as a convenient and efficient mode of transportation. With limited parking spaces and increasing traffic congestion, scooters provide a cost-effective and convenient solution for commuting in urban areas.

The technological advancements in the scooter industry, such as the development of smart scooters with features like GPS tracking and anti-theft systems, are also driving market growth. These innovations are attracting tech-savvy consumers and enhancing the overall user experience, thereby boosting sales in the scooter market.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Product Type, Electric Scooter Type
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	Yadea Technology Group, Ninebot, NEUTRON HOLDINGS, INC., Bird Rides, Spin, GOTRAX, SEGWAY INC., Razor USA LLC., Uber Technologies, OKAI Inc

One major restraint for the scooter market is the lack of infrastructure and regulations supporting the use of scooters in urban areas. The absence of dedicated scooter lanes and charging stations for electric scooters can hinder the adoption of these vehicles, limiting market growth.

Another restraint is the safety concerns associated with riding scooters, especially in congested urban areas. Accidents and injuries related to scooter usage can deter consumers from investing in scooters, impacting market growth. Additionally, the lack of proper safety regulations and enforcement measures can further amplify these concerns and pose a challenge for the scooter market.