Electric Scooters Market Size, Share, Trends & Competitive Analysis By Type (Electric Kick Scooters, Electric Mopeds, Electric Motorcycles, Electric Self-Balancing Scooters) By Battery Type: By Voltage: By Wheel Size: By End-user Application: By Regions, and Industry Forecast, Global Report 2023-2030

The global Electric Scooters market size was valued at USD 16.80 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 10.1% during the forecast period, reaching a value of USD 43.60 billion by 2030.

Electric Scooters market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.

MARKET OVERVIEW:

Electric scooters are lightweight and compact personal transportation devices powered by electricity. They have become increasingly popular for short-distance commuting and urban travel. Typically equipped with an electric motor and rechargeable battery, these scooters offer an eco-friendly alternative to traditional gas-powered vehicles. Users can ride them by simply stepping on and accelerating, making them a convenient and efficient mode of transportation for navigating city streets and urban environments.

Electric scooters come in various types and sizes, ranging from compact kick scooters to larger models with seats and more powerful motors. They are commonly used for both personal transportation and as part of shared mobility services offered by companies in many urban areas. Electric scooters have gained attention for their potential to reduce traffic congestion and air pollution while providing a convenient and affordable way to get around cities.

MARKET DYNAMICS:

The key drivers is the increasing emphasis on environmentally friendly transportation options. As concerns about air quality and carbon emissions rise, electric scooters are seen as a sustainable alternative to traditional gasoline-powered vehicles. Additionally, urban congestion and the need for convenient last-mile transportation solutions in densely populated areas have fueled the demand for electric scooters. The proliferation of ride-sharing services and the adoption of electric scooters in rental fleets have further boosted market growth.

However, there are also notable restraints in the electric scooters market. Safety concerns, including accidents and injuries associated with scooter use, have led to regulatory challenges in many regions. Ensuring rider safety while maintaining ease of use remains a significant challenge for the industry. Additionally, the lifespan and durability of electric scooter batteries pose limitations, as these components require regular replacement, impacting both operational costs and environmental sustainability. Despite these challenges, opportunities abound in the form of technological advancements, such as improved battery technology and connectivity solutions.

ELECTRIC SCOOTERS MARKET SEGMENTAL ANALYSIS

BY TYPE:

Electric kick scooters have emerged as a dominant force, thanks to their simplicity and user-friendly design. These scooters are lightweight, foldable, and easy to operate, making them a favored choice for urban commuters looking for a convenient and eco-friendly mode of transportation. Their dominance can be attributed to their suitability for short-distance travel and their integration into various ride-sharing and rental services.

Electric mopeds, on the other hand, offer a balance between compactness and enhanced features. With a seat for added comfort and often more powerful motors, electric mopeds cater to users seeking a more relaxed and comfortable riding experience. They have gained traction in urban areas where commuters require a bit more speed and comfort than kick scooters can provide.

Electric motorcycles represent a segment of the market dominated by enthusiasts and commuters with longer travel distances. These vehicles are capable of higher speeds and longer ranges, making them a viable option for those looking to replace traditional gasoline-powered motorcycles with a more eco-friendly alternative. Their dominance in the market is driven by the growing interest in electric vehicles among motorcycle riders and the expansion of charging infrastructure.

Electric self-balancing scooters, often referred to as hoverboards or Segways, have a unique appeal driven by their futuristic design and intuitive control mechanisms. They offer an innovative mode of personal transportation, where riders can control the direction and speed simply by leaning in different directions. This distinctive factor has contributed to their popularity, particularly among tech-savvy individuals and young riders.

BY BATTERY TYPE:

Lithium-ion batteries have established their dominance due to several key factors. They are known for their lightweight nature, high energy density, and longer cycle life compared to other battery types. Lithium-ion batteries offer quick charging capabilities, making electric scooters more practical for daily use. Their dominance in the market can be attributed to their ability to provide a balance between power, efficiency, and durability, aligning with the demands of modern urban commuters.

Lead acid batteries, while less prevalent in the electric scooters market today, still play a role, particularly in some budget and entry-level models. Their dominance in the past was driven by their low cost and availability. However, they are heavier and have a shorter lifespan compared to lithium-ion batteries. As environmental concerns grow and users seek more eco-friendly options, lead acid batteries have faced challenges in maintaining their dominance.

Nickel-metal hydride (NiMH) batteries have found a niche in the market due to their moderate energy density and reliability. They offer a middle-ground solution between lead acid and lithium-ion batteries. Their dominance is influenced by their ability to provide a cost-effective and environmentally conscious alternative, appealing to users who prioritize sustainability and are willing to make a compromise on battery performance metrics.

BY VOLTAGE:

Electric scooters with a 24V voltage rating are typically designed for lighter use and shorter commutes. They are favored for their compact size and simplicity, making them a popular choice for short-distance travel, particularly in crowded urban environments. While they may not offer the same level of speed and power as higher voltage scooters, their dominance in the market lies in their affordability and ease of use, making them accessible to a wide range of riders, including beginners and casual users.

Electric scooters with a 36V voltage rating strike a balance between power and practicality. They are versatile and suitable for a broader range of applications, including daily commuting and longer trips. Their dominance in the market stems from their ability to offer a satisfying blend of speed and range, making them appealing to riders who require a more versatile scooter for varied terrain and longer distances.

Scooters with a 48V voltage rating are known for their high performance and capability. They are dominant in the market due to their ability to deliver exceptional speed, acceleration, and range. These scooters are favored by enthusiasts and riders looking for a premium experience, often used for both daily commuting and recreational purposes. Their dominance reflects the demand for more powerful electric scooters that can rival traditional gasoline-powered counterparts in terms of performance.

In addition to the dominant voltage categories mentioned, there are also electric scooters with other voltage ratings, catering to specific niche requirements or specialized applications. These scooters may be designed for unique use cases, such as off-road adventures or extreme sports, and are chosen by riders seeking specialized features and capabilities.

BY WHEEL SIZE:

Small-wheel electric scooters, with wheel sizes less than 8 inches, are prized for their compactness and agility. Their dominance in the market is largely due to their maneuverability, making them ideal for navigating through crowded urban environments with ease. These scooters are favored by commuters looking for portability and convenience, as their compact size allows for easy folding and storage in tight spaces like buses and trains.

Medium-wheel electric scooters, featuring wheel sizes between 8 to 10 inches, offer a balanced combination of stability and maneuverability. Their dominance stems from their versatility, making them suitable for a wide range of urban and suburban commuting scenarios. They can handle rougher terrain more effectively than their smaller counterparts while still maintaining a manageable size for portability and storage.

Large-wheel electric scooters, with wheel sizes exceeding 10 inches, are known for their robustness and superior performance. Their dominance in the market is driven by their capability to tackle various terrains, including uneven surfaces and rough roads, with greater ease and comfort. These scooters are favored by riders looking for a premium experience and those who prioritize speed and stability in their daily commute.

BY END-USER APPLICATION:

The dominant factor in the personal use segment is the increasing demand for eco-friendly and convenient urban transportation solutions. Many individuals opt for electric scooters as a cost-effective and environmentally conscious way to commute short distances, particularly in congested city environments. The dominance of personal use electric scooters can be attributed to the desire for personal mobility, reduced reliance on traditional automobiles, and the ability to avoid traffic congestion.

Commercial applications, such as corporate fleets and rental services for tourists, are driven by factors like cost-effectiveness and brand visibility. Companies often use electric scooters as a means of enhancing their corporate image by promoting sustainable transportation options. The dominance of commercial use electric scooters is influenced by the cost savings achieved through shared fleet management and the potential for advertising and branding opportunities, making them an attractive choice for businesses.

The dominance of electric scooters in rental services is attributed to their convenience and accessibility. Rental companies offer electric scooters as a flexible and affordable transportation solution for short-term users, tourists, and urban explorers. This dominance is driven by the ease of locating and renting scooters through mobile apps, making them an appealing choice for those looking for on-demand transportation options.

In the delivery services segment, electric scooters are chosen primarily for their efficiency and cost-effectiveness in last-mile logistics. Companies engaged in food delivery, courier services, and e-commerce often opt for electric scooters to navigate urban areas efficiently. Their dominance is influenced by the ability to reduce delivery times and costs while minimizing environmental impact compared to traditional delivery vehicles.

Public transportation agencies are increasingly incorporating electric scooters into their multi-modal transit systems, offering commuters greater flexibility and connectivity. The dominance of electric scooters in public transportation is driven by the need to provide commuters with convenient first- and last-mile solutions to complement existing transit networks. This integration is intended to reduce urban congestion and improve overall mobility for city residents.

REGIONAL ANALYSIS:

Major cities in the United States and Canada have seen the emergence of numerous electric scooter-sharing services, making them a popular choice for short-distance commuting. Regulatory frameworks and infrastructure improvements have also played a pivotal role in promoting electric scooter adoption. The dominance of North America in this market is further propelled by a tech-savvy population and the presence of leading electric scooter companies.

Europe has also embraced electric scooters as a sustainable and efficient mode of transportation, especially in densely populated urban areas. Cities like Paris, Berlin, and Barcelona have seen rapid growth in electric scooter sharing services. European countries have been proactive in implementing regulations to ensure safety and orderly scooter usage. Europe's dominance in the electric scooters market is influenced by its focus on reducing air pollution and promoting green mobility options, aligning with the continent's sustainability goals.

Asia Pacific stands out as a dominant force in the electric scooters market due to its vast population and increasing urbanization. Countries like China and India have witnessed a surge in demand for electric scooters as a means to combat traffic congestion and air pollution. In addition to personal use, electric scooters have been integrated into public transportation systems in several Asian cities. The dominance of Asia Pacific is driven by its robust manufacturing capabilities, affordability of electric scooters, and the pressing need for efficient urban mobility solutions.

Latin America and the Middle East and Africa are emerging markets for electric scooters, with growth driven by a combination of environmental concerns, urbanization, and increasing disposable income. These regions are gradually recognizing the potential benefits of electric scooters in reducing traffic congestion and promoting cleaner transportation options. While not as dominant as North America, Europe, or Asia Pacific, these regions represent significant growth opportunities for electric scooter manufacturers and service providers.

COVID-19 IMPACT:

Initially, as lockdowns and travel restrictions were imposed worldwide, the demand for shared mobility services, including electric scooters, saw a sharp decline as people stayed home to mitigate the spread of the virus. Many electric scooter-sharing companies temporarily suspended their operations to comply with safety measures.

However, as the pandemic persisted, electric scooters eventually regained popularity as people sought alternative, socially distant modes of transportation for essential travel and short-distance commuting. The convenience of electric scooters in avoiding crowded public transportation became evident, leading to a resurgence in demand in some urban areas. Additionally, electric scooters played a role in facilitating contactless food and grocery deliveries, further boosting their utility during the pandemic.

Nevertheless, the market also faced challenges in terms of reduced funding and delayed expansion plans for electric scooter-sharing companies. The pandemic prompted a reevaluation of business models and operational strategies within the industry.

INDUSTRY ANALYSIS:

Mergers and Acquisitions

• Ola Electric acquired Etergo, a Dutch electric scooter company, in 2022.
• Hero Electric acquired Ather Energy, an Indian electric scooter company, in 2023.
• Bajaj Auto acquired Austrian motorcycle manufacturer KTM in 2023.

New Product Launches

• Ola Electric launched its S1 Pro and S1 Air electric scooters in 2021.
• Hero Electric launched its AE-47 electric scooter in 2022.
• Ather Energy launched its 450X electric scooter in 2020.
• Bajaj Auto launched its Chetak electric scooter in 2019.

KEY MARKET PLAYERS:

• Lime
• Bird
• Spin (owned by Ford)
• Tier
• Voi
• Dott
• Uber (Jump)
• Lyft
• Bolt
• Circ (formerly Flash)
• Yadea
• Segway-Ninebot
• Gogoro
• Xiaomi
• Okinawa Scooters
• Hero Electric
• Niu Technologies
• Razor
• ElectraMeccanica
• Ather Energy
• Ola Electric
• TVS Motor Company
• Mahindra GenZe
• Super Soco
• GenZe (owned by Mahindra)
• others