Scooter Market Updates

Scooter Market size was valued at USD 80.84 Billion in 2023 and is poised to grow from USD 86.09 Billion in 2024 to USD 133.79 Billion by 2032, growing at a CAGR of 6.50% during the forecast period (2025-2032).

Diversified product portfolio and significant distribution network of large companies with a strong hold on developed as well as developing countries has led to the consolidated nature of the scooter industry. On the product level, the key market players are focusing on R&D efforts. Strategic initiatives are being noted among the market players which include regional expansion, merger & acquisition, partnership and collaboration in order to maintain their place in the industry. For the vast majority of the incumbent players within the market, organic growth is still the primary strategy. In developing nations, the manufacturers dealing in electric scooters emphasize product launching activities. 'Yadea Technology Group Co. Ltd   ', 'Zhejiang Luyuan Electric Vehicle Co Ltd   ', 'Niu Technologies   ', 'Mahendra GenZe   ', 'Hero Electric   ', 'Vmoto Limited   ', 'GOTRAX ', 'Govecs Group   ', 'BMW Motorrad International   ', 'Gogoro Inc. ', 'OKAI Inc. ', 'Razor USA LLC.'

As governments started investing heavily on charging infrastructure as well offering multiple consumer incentives, OEMs would have scope for expanding revenue stream and geographical range. Developed economies in Europe are implementing strict regulations to control emission from vehicles while in developing economies such as India, Government is increasing its budget for electric charging station infrastructure.

Increasing Investment on R&D for Developing Improved Battery and Charging Technology: Ongoing R&D developments made in battery technology have increased storage capacity while decreasing the cost of batteries like lithium-ion batteries provide, making them great for mobile, low-cost applications seen in products such as electric kick scooters. R&D developments will continue to enhance electric vehicle range and lessen overall weight, charging time even minimize the carbon footprints which is expected to create high revenue-generating possibilities for affordable mobility scooter market.

In 2023, Asia Pacific dominated the market with the largest scooter market share. Such significant market share is being capitalized due to the increasing discretionary income of the consumers in the region. Instead of public buses, users go for independent vehicles to save time and hustle. Not to mention the electric scooter is cheap both in terms of initial purchase price, and operational costs when contrasting them with electric motorcycles and electric mopeds. Electric vehicles are powered by batteries and so, ease consumers from the surge in oil prices in the region.