Global Electric Scooters Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

The Global Electric Scooters Market is experiencing robust growth, driven by the increasing popularity of various scooter types, including Retro, Standing/Self-balancing, and Folding models. These distinct categories cater to diverse consumer preferences and usage scenarios, contributing to the market's overall expansion.

Retro electric scooters, characterized by their vintage-inspired designs and classic aesthetics, are gaining traction among consumers seeking a blend of style and functionality. These scooters evoke a sense of nostalgia while offering modern electric propulsion, appealing to urban commuters and enthusiasts alike.

Standing/Self-balancing electric scooters, also known as hoverboards or electric balance boards, have emerged as innovative mobility solutions, particularly favored by tech-savvy users and urban commuters. Featuring intuitive self-balancing technology, these scooters offer an effortless and fun riding experience, making them popular among millennials and young professionals.

Folding electric scooters represent another significant segment within the market, offering portability and convenience for on-the-go commuters. These compact scooters are designed for easy storage and transportation, making them ideal for urban dwellers and individuals with limited space.

Global Electric Scooters Segment Analysis

In this report, the Global Electric Scooters Market has been segmented by Product, Battery, Voltage and Geography.

Firstly, the segmentation by Product encompasses various types of electric scooters available in the market, including foldable scooters, kick scooters, and seated scooters. Each product type caters to different consumer preferences and usage scenarios, offering a diverse range of options for potential buyers.

Secondly, the segmentation by Battery delves into the types of batteries used in electric scooters, such as lead-acid batteries, lithium-ion batteries, and nickel-metal hydride batteries. Battery type is a critical factor influencing the performance, range, and charging capabilities of electric scooters, making it a key consideration for both manufacturers and consumers.

Furthermore, the segmentation by Voltage categorizes electric scooters based on their voltage requirements, including below 24 volts, 24-48 volts, 48-60 volts, and above 60 volts. Voltage plays a crucial role in determining the power output and speed of electric scooters, with higher voltage models typically offering greater performance and acceleration.

Global Electric Scooters Market, Segmentation by Product

The Global Electric Scooters Market has been segmented by Product into Retro, Standing/Self-balancing and Folding.

Retro electric scooters, with their nostalgic designs reminiscent of classic models, are capturing the attention of consumers seeking a blend of vintage charm and modern convenience. These scooters appeal to individuals looking to make a style statement while enjoying eco-friendly urban mobility solutions.

Standing/Self-balancing electric scooters, also known as hoverboards or electric balance boards, represent a dynamic segment characterized by innovative technology and futuristic design. These scooters offer a unique riding experience, leveraging self-balancing mechanisms to provide effortless navigation for urban commuters and tech enthusiasts.

Folding electric scooters emerge as a practical and space-efficient mobility solution, especially suited for urban environments and on-the-go commuters. Their compact design allows for easy storage and portability, making them ideal for individuals navigating crowded city streets or seeking convenient last-mile transportation options.

Global Electric Scooters Market, Segmentation by Battery

The Global Electric Scooters Market has been segmented by Battery into Sealed Lead Acid, NiMH and Li-Ion.

Sealed Lead Acid batteries, known for their reliability and affordability, have traditionally been a popular choice for electric scooters. However, with advancements in battery technology and the increasing demand for higher performance and longer range, the market is witnessing a shift towards more advanced options.

NiMH (Nickel Metal Hydride) batteries offer improved energy density and longevity compared to Sealed Lead Acid batteries, making them a preferred choice for electric scooters seeking a balance between cost-effectiveness and performance. These batteries provide adequate power and range for urban commuting and short-distance travel, catering to a wide range of consumers.

Li-Ion (Lithium-Ion) batteries represent the cutting-edge of battery technology in the electric scooter market. Known for their high energy density, lightweight design, and fast charging capabilities, Li-Ion batteries offer superior performance and range compared to traditional battery types. As a result, they are increasingly favored by manufacturers and consumers alike, driving innovation and market growth in the electric scooter segment.

Global Electric Scooters Market, Segmentation by Voltage

The Global Electric Scooters Market has been segmented by Voltage into 24V, 36V, 48V and Greater than 48V.

Electric scooters come in various voltage configurations, each offering unique performance characteristics and suitability for different usage scenarios. The segmentation by Voltage enables stakeholders to identify trends and preferences among consumers and tailor their product offerings accordingly.

Scooters with a voltage rating of 24V are typically designed for basic urban commuting and short-distance travel, offering moderate power and range suitable for everyday use. These scooters are popular among entry-level users and budget-conscious consumers seeking affordable and practical mobility solutions.

In contrast, scooters with higher voltage ratings, such as 36V, 48V, and Greater than 48V, offer enhanced performance, including faster acceleration, higher top speeds, and extended range. These scooters cater to enthusiasts and commuters looking for premium features and improved riding experience, making them well-suited for longer commutes and recreational use.

Global Electric Scooters Market, Segmentation by Geography

In this report, the Global Electric Scooters Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Electric Scooters Market Share (%), by Geographical Region, 2023

North America, comprising the United States and Canada, is anticipated to witness significant growth in the electric scooter market owing to increasing awareness of eco-friendly transportation solutions and favorable government initiatives promoting electric mobility. Additionally, the presence of key manufacturers and technological advancements in this region contribute to market expansion.

Europe, including countries like Germany, France, and the United Kingdom, is expected to emerge as a lucrative market for electric scooters due to stringent emission regulations, rising urbanization, and growing adoption of sustainable transportation options. The region's well-established infrastructure and increasing investments in electric vehicle charging networks further fuel market growth.

The Asia Pacific region, encompassing countries such as China, Japan, and India, is projected to dominate the global electric scooter market, driven by rapid urbanization, expanding population, and government incentives promoting electric mobility. Rising urban congestion and pollution levels are driving the demand for electric scooters as efficient and cost-effective last-mile transportation solutions, fostering market growth in the region.

Meanwhile, the Middle East and Africa, along with Latin America, are expected to witness gradual but steady growth in the electric scooter market. Factors such as increasing urbanization, improving infrastructure, and rising consumer awareness regarding environmental sustainability contribute to market expansion in these regions.

This report provides an in depth analysis of various factors that impact the dynamics of Global Electric Scooters Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers :

• Environmental Push
• Economic Factors

• Technological Advancements -The Global Electric Scooters Market is witnessing significant technological advancements aimed at enhancing performance, safety, and user experience. One notable advancement is the integration of smart connectivity features into electric scooters, enabling users to access real-time data, navigation assistance, and vehicle diagnostics through smartphone applications. These smart scooters offer added convenience and connectivity, enhancing the overall riding experience for users.

  Moreover, manufacturers are focusing on improving battery technology to increase the range and efficiency of electric scooters. Lithium-ion batteries, known for their high energy density and fast charging capabilities, are increasingly being adopted in electric scooters, enabling longer rides and reduced charging times. Additionally, advancements in electric motor technology are leading to more efficient and powerful motors, offering better acceleration and performance while maintaining energy efficiency.

Restraints :

• High Initial Cost

• Limited Charging Infrastructure - In the Global Electric Scooters Market, one of the significant challenges hindering widespread adoption is the limited charging infrastructure. While electric scooters offer an eco-friendly and convenient mode of transportation, the lack of adequate charging stations poses a barrier to their widespread use.

  Many regions, especially in emerging markets, face challenges in establishing a robust charging infrastructure due to factors such as high installation costs, regulatory hurdles, and limited government support. As a result, users may experience range anxiety and reluctance to switch to electric scooters, fearing they may run out of battery power before reaching their destination.

Opportunity :

• Battery Swapping Technology

• Expanding Infrastructure - The Global Electric Scooters Market is experiencing a significant expansion in infrastructure, driven by the growing adoption of electric mobility solutions and the need for sustainable transportation alternatives. This expansion encompasses various aspects of infrastructure development, including charging networks, urban planning initiatives, and regulatory frameworks.

  One of the key drivers behind the expansion of infrastructure for electric scooters is the increasing awareness of environmental sustainability and the need to reduce carbon emissions in urban areas. Governments and city planners worldwide are investing in the development of charging infrastructure to support the growing fleet of electric scooters and facilitate their widespread adoption.

Key players in Global Electric Scooters Market include

• Gogoro Inc
• Honda Motor Co Ltd
• JIANGSU XINRI E-VEHICLE Co. LTD
• KTM AG
• Peugeot Scooters
• Vmoto Limited
• Terra Motors Corporation
• Yamaha Motor Company Limited
• The top three players-Honda Motor Co. Ltd
• Suzuki Motor Corporation
• Yamaha Motor Company Limited

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis