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Electric Scooter Market to Reach $345.79 Billion and 255.71 million Units by 2030
Meticulous Research®—a leading global market research company, published a research report titled, ‘Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Kick scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user - Global Forecasts to 2030.’Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5191?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=09-01-2024
The global electric scooter market is expected to reach $345.79 billion by 2030, at a CAGR of 21.6% during the forecast period from 2023 to 2030. By volume, this market is projected to reach 255.71 million units, at a CAGR of 17.5% during the forecast period. The growth of the electric scooter market is driven by the increasing localization of electric two-wheeler manufacturing in emerging economies, increasing consumer acceptance of electric two-wheelers, and growing adoption of E-PTWs (electric-powered two-wheelers) for personal mobility & leisure in developed economies.
However, inadequate initiatives by legacy two-wheeler manufacturers to invest in electric scooter and increasing incidents of accidents involving electric two-wheelers are restraining the growth of this market. The potential of electric two-wheelers to reduce traffic congestion and pollution in cities is expected to create market growth opportunities. However, the inadequate availability of charging infrastructure in emerging economies and the lack of standardized regulations related to ownership, registration, licensing, and use in traffic are major challenges for players operating in the electric scooter market.
The global electric scooter market is segmented by vehicle type, power output, battery technology, motor type, charging type, end use, and geography. The study also evaluates industry competitors and analyses the country and regional-level markets.
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Based on vehicle type, the electric scooter market is mainly segmented into electric motorcycles, e-kick scooters & bikes, and electric mopeds. By value, in 2023, the e-kick scooters & bikes segment is expected to account for the largest share of the global electric scooter market. The large market share of this segment is attributed to the incentives and infrastructure created by the governments for e-bikes in the Asia-Pacific region (especially in China, India, and Singapore). Other factors supporting the high market share of this segment include the perceived benefits of e-kick scooters & bikes in reducing congestion, accidents, noise pollution, greenhouse gases, and local air quality improvements, among others. However, the electric motorcycles segment is expected to register the highest CAGR during the forecast period.
Based on power output, the electric scooter market is segmented into less than 3.6kW, 3.6kW to 7.2kW, and 20kW to 100 kW. In 2023, the less than 3.6kW segment is expected to account for the largest share of the global electric scooter market. The large share of this segment is mainly attributed to the increasing adoption of e-scooters & bikes for urban commute and recreational activities, rising initiatives by government authorities for increasing adoption of e-scooters & bikes, and increasing investments by ride-hailing companies for deploying e-scooters & bikes for micromobility.
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Based on battery technology, the electric scooter market is segmented into sealed lead-acid, lithium-ion, and lithium-ion polymer. The lithium-ion segment is expected to account for the largest share of the electric scooter market in 2023. The large share of this segment is attributed to factors such as high energy densities of li-ion batteries, longer effective lifespan compared to other batteries available in the market and increasing investments by governments of emerging economies to localize li-ion battery manufacturing for EVs.
Based on motor type, the electric scooter market is segmented into hub and mid-drive motors. The hub motors segment is expected to account for the largest share of the electric scooter market in 2023. The large share of this segment is mainly attributed to factors such as increased power/speed, high torque, extended range per charge, and better vehicle handling due to lightweight design.
Based on end user, the electric scooter market is segmented into government institutions, academic institutes/universities, business organizations, micromobility service providers, and individuals. The business organizations segment is expected to account for the largest share of the electric scooter market in 2023. The large share of this segment is mainly attributed to the increasing government subsidies and support to promote electric mobility, increasing use of e-scooters & bikes by courier and e-commerce delivery personnel, and the growing implementation of mobility-as-a-service.
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Based on geography, the electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global electric scooter market. The large share of the Asia-Pacific region is attributed to the increasing adoption of electric mopeds in emerging economies such as India, the presence of industry-leading electric mopeds and electric motorcycle manufacturers in the region, the high popularity of two-wheelers for personal mobility and short commutes, increasing initiatives by governments in countries such as Thailand and Indonesia to drive adoption of electric mopeds and motorcycles in their respective countries.
Key Players
The key players operating in the global electric scooter market are Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.), Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese & Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes (U.S.), Pedego Inc. (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang Minimotors Bike Co Ltd (China), Zero Motorcycle Inc. (U.S.), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd (India), Energica Motor Company (Italy), Revolt Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.).
TOP 10 COMPANIES IN ELECTRIC SCOOTER MARKET >> https://meticulousblog.org/top-10-companies-in-electric-scooter-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=09-01-2024
Related Research Report
TOP 10 COMPANIES IN NORTH AMERICA ELECTRIC SCOOTER MARKET >> https://meticulousblog.org/top-10-companies-in-north-america-electric-scooter-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_content=09-01-2024
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