Electric Scooter Market Size, Share, Growth, and Industry Analysis by Type (Two-wheel, Three-wheel), by Application (Electric Retro Scooter, Electric Kick Scooter), and Regional Insight and Forecast to 2033

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ELECTRIC SCOOTER MARKET OVERVIEW

The Electric Scooter Market, valued at USD 6.22 Billion in 2024, is projected to reach USD 9.16 Billion by 2033, driven by a strong CAGR of 4.4%.

The electric scooter market refers to the industry that embraces the manufacturing, supply, and sales of electric scooters. Electric scooters, are also well-known as e-scooters, two-wheeled vehicles driven by electric motors. They deal a biodegradable and suitable mode of conveyance, normally planned for short-distance travel within town areas.  Electric scooters are driven by rechargeable batteries, eradicating the need for traditional fossil fuels and decreasing carbon discharges. They are lightweight, dense, and often furnished with features such as smart connectivity and app-based ride-sharing facilities.  E-vehicles are developing promptly in key cities allowing people to make short trips rapidly and economically. The electric vehicles are mounted with LED lights that power the light, and a low amount of energy is used.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies need to stay updated with varying market trends and develop products that meet rising consumer needs. Companies coming up with advanced technological solutions for firming their positions.  Governments and regulatory bodies are executing supportive policies and providing encouragements to endorse electric vehicle implementation, comprising electric scooters. These procedures embrace subsidies, tax benefits, and infrastructure improvement for charging stations. Such support from governments generates a conducive setting for market development.

COVID-19 IMPACT

Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 crisis has resulted in a world-wide economic slowdown. Lockdowns executions in several parts of the world to curb the spread of the virus led to supply chain disturbance and a short-term terminating of manufacturing activities. The electric scooters became mainly vulnerable due to its dependence on global sourcing for its batteries' materials and components. 

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LATEST TRENDS

Use Of Innovative Products To Boost The Market Growth

Technological upgrading and improvement will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological development with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Continuous improvement in manufacturing of products is anticipated to stimulate product demand. The electric scooter market has major progress potential in developing regions, where quick urbanization and growing disposable income are driving the demand for reasonable and efficient transportation choices. Strategic partnerships between firms play an essential role in boosting the development of the electric scooters industry. Associations foster technology, letting for the expansion of advanced features and better-quality infrastructure.

ELECTRIC SCOOTER MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into Two-wheel, Three-wheel

• Two-wheel: Two-wheel e-scooters rule the market due to their ease of use, lightweight design, and affordability. They are widely used for private traveling, shared mobility services, and last-mile transportation.

• Three-wheel: Three-wheel e-scooters offer boosted steadiness, making them popular among older adults, disabled persons, and delivery service workers. They are often used for commercial and personal mobility purposes.

By Application Analysis

According to application, the market can be segmented into Electric Retro Scooter, Electric Kick Scooter

• Electric Retro Scooter: Electric retro scooters are planned to resemble classic gasoline-powered scooters but function on power. They are extensively used for personal traveling and offer a trendy, ecological substitute to traditional scooters.

• Electric Kick Scooter: Electric kick scooters are lightweight, foldable, and planned for short-distance travel. They are usually used in shared mobility facilities and personal traveling.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factor

Increasing Adoption of Sustainable Transportation To Boost The Market Growth

The growing emphasis on reducing carbon emissions and promoting sustainable transportation is motivating the demand for electric scooters. Customers are progressively choosing for biodegradable substitutes to traditional petrol-powered vehicles, creating a favourable market environment for electric scooters.

Technological Advancement and Innovation To Upsurge The Market

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the electric scooter market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Technological developments in battery technology have expressively improved the performance and variety of electric scooters. Longer battery life and faster charging capabilities are augmenting the practicality and appeal of electric scooters for customers.

Restraining Factor 

High Maintenance and Operational Costs To Hamper The Market Growth

Shared e-scooter workers face high charges for upkeep, charging, and fleet management. Damage, theft, and inappropriate usage shorten the duration of e-scooters, growing functioning expenses. Ensuring durability and cost-effective maintenance remains a major challenge for shared mobility companies.

Opportunity

Growing Popularity of Shared Mobility Services To Create Opportunity in the Market

The growth of shared e-scooter facilities, provided by companies has transformed urban commuting. These facilities decrease transportation costs for customers and deal a scalable business model for workers. Mounting shared mobility networks in new cities and regions offers a key development opportunity.

Challenge

Battery Recycling and Environmental Impact Could Be a Major Challenge

While e-scooters are considered ecologically friendly, battery disposal and recycling pose challenges. Lithium-ion batteries comprise risky materials that need appropriate disposal methods. Without efficient recycling programs, large-scale e-scooter implementation could contribute to e-waste issues.

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ELECTRIC SCOOTER MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

• North America

North America region has observed major growth in the electric scooter market.  The United States, in particular, has witnessed a surge in demand for electric scooters due to factors such as augmented awareness of ecological sustainability, the implementation of electric mobility solutions, and the presence of key market players which motivate the electric scooter market share.

• Asia

Asia-Pacific market is driven by the mounting awareness among customers to implement clean energy transportation to curb vehicular releases, prompt urbanization, and the swelling affordability of e-scooters. 

• Europe

Europe electric scooter market is expected to witness the significant development. Growing investment in electric vehicle charging infrastructure and research support for progressive high-density batteries is projected to contribute to overall regional development.

KEY INDUSTRY PLAYERS

Key Players Focus On Partnerships To Gain Competitive Advantage

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Top Electric Scooter Companies

• Yadea (China)
• Birdie Electric (U.S.)
• Xiaodao Ebike (China)
• Razor (U.S.)
• Sunra (China)

INDUSTRIAL DEVELOPMENT

March 2023:  Yadea Technology Group Co, Ltd, launched the range of products YADEA Fierider, YADEA VoltGuard Scooter, and YADEA Keeness Electric Motorcycle in Vietnam. The products presented by the company have premium-level superiority and excellent rider experience which provide a competitive edge to the company.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.