USD 30.3 billion
Report ID:
SQMIG25C2095 |
Region:
Global |
Published Date: March, 2025
Pages:
222
|Tables:
94
|Figures:
76
Electric Scooter Market size was valued at USD 30.3 billion in 2023 and is poised to grow from USD 33.48 billion in 2024 to USD 74.42 billion by 2032, growing at a CAGR of 10.5% during the forecast period (2025-2032).
Electric motorbikes and scooters are two- or three-wheeled vehicles, which are powered by a plug-in electric. A rechargeable battery can power one or more electric motors. In the forecast period, growing concern about greenhouse gas and carbon emissions, coupled with demand for fuel-efficient autos, is expected to drive the adoption of electric scooters or e-scooters. Some of the key drivers for the market include increasing environmental concerns, increasing adoption of electric motorbikes and e-bikes for travel over small distances, and increasing investments by ride-hailing companies into the micro mobility space. Connected e-Bikes trend and increasing efforts from OEMs towards building light-weight bikes will present enormous attractive opportunities for market players. Also, the upsurge in ride-sharing and rental services could explain why electric scooters have become so popular, as they are becoming increasingly accessible to a more significant number of users. Indeed, such services introduce an interesting flexible transportation option to people who would want to use a scooter for an occasional trip or who might not want to purchase it outright. Advances in battery technology and efficiency in electric motors have greatly improved performance and ranges of electric scooters, which increases the appeal to consumers. The industry is growing because electric scooters provide a competitive alternative to conventional gasoline-powered vehicles, which will drive further advancements in better battery life and rapid charging times.
Market snapshot - 2025-2032
Global Market Size
USD 30.3 billion
Largest Segment
lead-acid
Fastest Growth
lead-acid
Growth Rate
10.5% CAGR
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Global Electric Scooter Market is segmented by Drive, Battery, Product, Battery Fitting, End-use and region. Based on Drive, the market is segmented into Belt Drive, Chain Drive and Hub Motors. Based on Battery, the market is segmented into Lead Acid, Li-Ion and Other. Based on Product, the market is segmented into Standard, Folding, Self-Balancing, Maxi and Three wheeled. Based on Battery Fitting, the market is segmented into Detachable and Fixed. Based on End-use, the market is segmented into Personal and Commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis By Voltage
The 36V dominates the electric scooter market. This is because it strikes a fine balance between performance and cost. Most of the scooters which operate on 36V have ample power and range for most urban commuters. It is for this reason that they have appealed to the masses, especially city dwellers. In addition, the availability of various priced 36V scooters is usually contributing to its large adoption. These 36V battery systems are likewise lightweight to ensure scooters remain portable and can be used conveniently on a day-to-day basis. This effectively brings a balance of cost, performance, and convenience to lock in the position of 36V scooters as one of the most favored modes of transportation within cities.
The fastest-growing segment in the electric scooter market is that of 24V and above. This growth has been driven by increasing demand for high-performance, long-range scooters from urban regions with a greater sprawl and consumers wanting power options as close as possible to a conventional transport mode. The advances in battery technology have made high-voltage scooters more feasible, increasing their energy density and reducing charging times. As a result, these are being perceived to be increasingly attractive for the person and business seeking high levels of efficiency and ecological friendliness in transport. With these new high-voltage scooters, which are becoming much more viable, they are attractive for people who demand high performance but wish to be ecologically green in their transportation choices.
Analysis By Technology
The sealed lead-acid battery segment held the maximum share in the global electric scooter market owing to various advantages, including durability and affordability. These are rechargeable batteries, each containing 300 complete charge cycles before replacing the battery. The adoption of SLA batteries is expected to decline in the next few years since they are bulky and lose charge fast, even without bearing large loads. China leads the production, export, and consumption of lead-acid batteries across the globe. This major demand for the lead-acid market in China is caused by the presence of the world's largest electric vehicle manufacturer. The lithium-ion segment is expected to grow at the highest CAGR during the forecast period.
The lithium-ion segment is the fastest growing. This is basically attributed to very low-cost manufacture, simple cell construction, high energy density, thus lighter batteries, high resistance to physical damage, and lowered chances of leaking electrolytes. China emerged as the dominance in the world lithium-ion manufacturing market. Thus, it is said that in the same year, China produced about 79% of all lithium-ion batteries that entered the global market. The growing consciousness for the increasing adoption of batteries that are eco-friendly, and their sustained performance over sealed lead acid and NiMH batteries have shot up the demand for lithium-ion batteries. As these batteries are costly as compared to the other two therefore, their adoption has raised the prices of electric vehicles in the developing markets. These batteries include high discharge cycles protecting them from any kind of harm.
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Asia-Pacific was the dominant market in 2023. China, a hub for automobiles, will still be in its leading role in the global electric scooter market given the reasonable sales and production the country has managed to record. This growth in sales is probably attributed to increased consumer demand for personal mobility post the COVID era. Increasing government initiatives to promote these scooters, and rising demand for affordable e-scooters for traveling shorter distances, is predicted to drive the market in the APAC region during the forecast period. The rapid economic growth of the nation accelerates the penetration of the latest technology used in electrification in China. The Indian government has promoted electric two-wheelers with initiatives such as FAME-II, which provide tax benefits and incentives to buyers.
North America is anticipated to witness significant growth in the forecast period. Both the public and private players are striving to increase the number of electric two-wheelers charging stations across the region. Further, promotion in research and development activities for producing high-density batteries is expected to accelerate the local market growth in the coming years. The prices of domestic batteries became cheaper during the pandemic, while investments in electric scooter firms by shared mobility players also increased and leading two-wheeler firms expedited plans to launch electric motorcycles. All these factors together forced a severe increase in the sales of electric bicycles in the US market. North America is expected to record the highest CAGR at a growth rate of 12.8% during the forecast period. Increasing investments in the technology of high-density batteries and infrastructure for electric car charging are likely to support regional growth.
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Increasing the Focus on Eco-Friendly Urban Mobility Solutions
Growing Recognition of Ride Sharing
Regulatory Hurdles
Insufficient Infrastructure of Charging to Deter the Expansion of the Market
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The market is highly consolidated owing to a strong product portfolio and significant distribution network of renowned companies in both developed and developing countries. Key players in the industry are focusing on product-level strategy and R&D. For instance, the Taiwanese market has been completely revamped with the swappable battery e-scooter bike developed by Gogoro. The company is working along with various Asian suppliers to embed the interchangeable battery technology into products. Starting to put these scooters into the market is major Japanese manufacturers such as Honda, Yamaha, Suzuki, and Kawasaki. In this way, the above-discussed section increases competitiveness in the Asian market.
Top Players in the Electric Scooter Market
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, the increasing adoption of shared and rental electric scooters in developed economies such as the U.S., France, Spain, and Germany is one of the factors that may boost the demand for electric scooters globally. In the global electric scooter market, more players, such as Lime, Jump, Razor, Spin, and Bird, have established their rental services. Increasing non-monetary and monetary incentives motivating people toward battery-powered two-wheelers, commonly known as electric scooters, are adding impetus to sales in the global electric scooter market.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 30.3 billion |
Market size value in 2032 | USD 74.42 billion |
Growth Rate | 10.5% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electric Scooter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Scooter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Scooter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Scooter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Electric Scooter Market size was valued at USD 33.17 Billion in 2023 and is poised to grow from USD 36.45 Billion in 2024 to USD 77.57 Billion by 2032, growing at a CAGR of 9.9% during the forecast period (2025-2032).
The market is highly consolidated owing to a strong product portfolio and significant distribution network of renowned companies in both developed and developing countries. Key players in the industry are focusing on product-level strategy and R&D. For instance, the Taiwanese market has been completely revamped with the swappable battery e-scooter bike developed by Gogoro. The company is working along with various Asian suppliers to embed the interchangeable battery technology into products. Starting to put these scooters into the market is major Japanese manufacturers such as Honda, Yamaha, Suzuki, and Kawasaki. In this way, the above-discussed section increases competitiveness in the Asian market. 'Hero Electric ', 'OLA Electric ', 'Gogoro ', 'NIU International ', 'Askoll EVA S.p.A. ', 'CAKE ', 'BMW Group ', 'Honda Motor Co., Ltd. ', 'KTM AG ', 'Ather Energy ', 'YADEA Technology Group Co., Ltd. ', 'TVS Motor Company ', 'Silence Urban Ecomobility ', 'Piaggio Group ', 'Harley Davidson '
Hundreds of cities across the globe presently face air pollution, congestion of the roads, and shortage of parking spots; hence, greener and quicker transportation alternatives are highly demanding. This makes electrically operated scooters a very envying solution to these problems since they operate solely on renewable energy and do not emit any form of pollution when used. Electric scooters provide an easy and affordable means for people residing in the cities to cover short distances while weaving through busy streets and reaching their destination at a great speed. Hand in hand with the rise in urbanization and population of cities, the demand for small and agile means of transportation that could weave their way through places where there is heavy congestion has been on the rise.
Asia-Pacific was the dominant market in 2023. China, a hub for automobiles, will still be in its leading role in the global electric scooter market given the reasonable sales and production the country has managed to record. This growth in sales is probably attributed to increased consumer demand for personal mobility post the COVID era. Increasing government initiatives to promote these scooters, and rising demand for affordable e-scooters for traveling shorter distances, is predicted to drive the market in the APAC region during the forecast period. The rapid economic growth of the nation accelerates the penetration of the latest technology used in electrification in China. The Indian government has promoted electric two-wheelers with initiatives such as FAME-II, which provide tax benefits and incentives to buyers.
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Report ID: SQMIG25C2095
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