Electric Scooter Market Dynamics, Recent Developments, and Strategic Insights by 2031

The electric scooter market is expected to register a CAGR of 16.3% during 2023–2031. The evolution of advanced technologies and growing electrification in the automotive sector is likely to remain a key trend in the market.

Electric Scooter Market Analysis

• In urban cities, e-vehicles are becoming more and more common, allowing people to travel short distances affordably and swiftly.
• The growing environmental concerns and reducing carbon emission levels for the automotive sector are boosting the demand for the electric scooter market globally.

Electric Scooter Market Overview

• The adoption of electric scooters, or e-scooters, is predicted to be driven by the rising demand for fuel-efficient vehicles as well as growing concerns over carbon emissions and greenhouse gas emissions over the forecast period.
• The market for electric scooters is being driven by strict government emission regulations, such as emission standards for greenhouse gas (GHG) emissions by developed and developing countries.
• Electric scooters are becoming more popular among consumers due to they are quieter, require less maintenance, and have a higher mechanical efficiency than their conventional counterparts.
• Additionally, the market for electric scooters is growing due to the fleet's inclusion in the shared mobility and vehicle rental ecosystems.

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Electric Scooter Market: Strategic Insights

Electric Scooter Market

• 
  CAGR (2024 - 2031)

  16.3%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Supporting Government Policies for Adoption of Electric Vehicles

FUTURE TRENDS

• Customer Preference toward Cost Effective and Eco-Friendly Transportation Mode

OPPORTUNITIES

• Growing Advancement in the Automotive Sector

Key Players

• Yadea Technology Group Co Ltd
• Zhejiang Luyuan Electric Vehicle Co Ltd
• Niu Technologies
• Mahendra GenZe
• Hero Electric
• Vmoto Limited
• Amper Vehicles
• Govecs Group
• BMW Motorrad International
• Gogoro Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Battery Type

• Lead Acid
• Li-ion

Voltage Type

• 48-59V
• 60-72V
• 73-96V
• Above 96V

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Electric Scooter Market Drivers and Opportunities

Supporting Government Policies for the Adoption of Electric Vehicles to Favor the Market

• The growing government focus on mitigating carbon emissions from the automotive sector is anticipated to drive the demand for the electric scooter market at the global level.
• Governments of China, the US, and India have several policies and incentives that primarily boost the sales of electric scooters.

Customer Preference toward Cost Effective and Eco-Friendly Transportation Mode 

• Urbanization, rising disposable income in developing markets, and technological advancements and performance are driving a significant shift in the automotive industry's growth.
• Commuters are choosing private transportation, such as motorbikes, over public transportation due to growing concerns about environmental preservation.
•  Thus, the market for electric scooters is being driven by customer preference for environmentally friendly forms of transportation.

Electric Scooter Market Report Segmentation Analysis

Key segments that contributed to the derivation of the electric scooter market analysis are product battery type and voltage type.

• Based on battery type, the electric scooter market is Lead Acid Li-ion.
• Based on voltage type, the electric scooter market is divided into 48-59V, 60-72V, 73-96V, and Above 96V.

Electric Scooter Market Share Analysis by Geography

• The electric scooter market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering electric scooter market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the electric scooter market in these regions.

Electric Scooter Market Report Scope

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Electric Scooter Market News and Recent Developments

The electric scooter market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the electric scooter market are listed below:

• Hero Electric announced it has entered into a long-term partnership with Maxwell Energy Systems for the supply of advanced battery management systems. Under the partnership, Maxwell will supply more than 10 lakh units of its battery management systems (BMS) over the next three years to Hero Electric. (Source: Heroelectric, Press Release, January 2023)
• Honda Motorcycle & Scooter India (HMSI) announced its Electric Vehicle roadmap, aimed at creating a healthy and sustainable EV market in India. The road map is a blueprint for developing EV business Structure in India, which includes new EV technologies and infrastructure. The company also announced its Future Business Direction for expansion of overseas business and production capacity in the upcoming financial year. (Source: Honda, Press Release, March 2023)

Electric Scooter Market Report Coverage and Deliverables

The “Electric Scooter Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Electric scooter market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Electric scooter market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Electric scooter market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the electric scooter market
• Detailed company profiles