According to a new report published by Introspective Market Research, titled, Electric Scooter Market by Battery Type (Lead Acid, Li-ion, Others), Product Type (Retro, Self-Balancing, Folding), and Voltage (24V, 36V, 48V, 60V & Above), The Global Electric Scooter Market Size Was Valued at USD 37.12 Billion in 2023 and is Projected to Reach USD 81.29 Billion by 2032, Growing at a CAGR of 9.10%. The electric scooter market encompasses a wide range of two-wheeled vehicles powered by electric motors, offering an environmentally friendly and efficient alternative to traditional gasoline-powered scooters. These vehicles typically feature a rechargeable battery, an electric motor, and a control system, providing a clean, quiet, and convenient mode of personal transportation. Electric scooters are gaining immense popularity due to their zero emissions, low operating costs, and ease of maneuverability, particularly in congested urban environments.
Compared to conventional scooters, electric scooters offer several distinct advantages, including reduced noise pollution, lower maintenance requirements, and exemption from fuel costs. They also contribute significantly to mitigating air pollution and carbon footprints in cities, aligning with global sustainability goals. Their main uses are diverse, ranging from daily commuting and last-mile connectivity solutions in urban areas to recreational purposes and tourism. The rise of ride-sharing platforms has also boosted their adoption, providing flexible and affordable transportation options for a broader demographic.
A key growth driver for the Electric Scooter Market is the increasing global emphasis on reducing carbon emissions and promoting sustainable transportation. Governments worldwide are implementing stringent environmental regulations and offering incentives such as subsidies, tax breaks, and dedicated charging infrastructure to encourage the adoption of electric vehicles. This regulatory push, combined with a growing public awareness of climate change, is significantly accelerating the transition from fossil fuel-powered scooters to electric alternatives, thereby driving market expansion.
A significant market opportunity for electric scooters lies in the rapid expansion of the shared mobility and last-mile delivery sectors. As urban populations grow and traffic congestion intensifies, electric scooters offer an agile, cost-effective, and eco-friendly solution for short-distance travel and package delivery. The proliferation of electric scooter rental services and the integration of e-scooters into logistics fleets are creating substantial demand. This trend is particularly evident in densely populated cities, positioning electric scooters as a crucial component of future smart city transportation ecosystems.
Electric Scooter Market, Segmentation
The Electric Scooter Market is segmented on the basis of Battery Type, Product Type, and Voltage.
Battery Type
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The Battery Type segment is further classified into Lead Acid, Li-ion, and Others. Among these, the Li-ion sub-segment accounted for the highest market share in 2023. Lithium-ion (Li-ion) batteries are the preferred choice for electric scooters due to their superior energy density, longer lifespan, lighter weight, and faster charging capabilities compared to traditional lead-acid batteries. These characteristics contribute to better performance, extended range, and overall enhanced user experience. As manufacturing costs for Li-ion batteries continue to decrease and their efficiency improves, they are becoming increasingly dominant in powering the next generation of electric scooters, solidifying their market leadership.
Product Type
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The Product Type segment is further classified into Retro, Self-Balancing, and Folding. Among these, the Folding sub-segment accounted for the highest market share in 2023. Folding electric scooters have gained significant popularity due to their unparalleled convenience and portability. Their ability to be compactly folded allows users to easily carry them on public transport, store them in small spaces, or take them into offices and homes. This feature makes them an ideal solution for urban commuters seeking a seamless multi-modal transportation experience, addressing the "last-mile" challenge effectively. The demand for lightweight, space-saving personal mobility devices continues to drive the dominance of folding electric scooters.
Some of The Leading/Active Market Players Are-
- Yadea Group Holdings Ltd. (China)
- Hero Electric (India)
- BYD Company Ltd. (China)
- Ola Electric Mobility Pvt Ltd (India)
- Gogoro Inc. (Taiwan)
- Niu Technologies (China)
- Xiaomi Corporation (China)
- Honda Motor Co., Ltd. (Japan)
- Yamaha Motor Co., Ltd. (Japan)
- KTM AG (Austria)
- Etergo BV (Netherlands)
- Silence Urban Ecomobility (Spain)
- Segway-Ninebot (USA)
- Ather Energy Pvt. Ltd. (India)
- Vmoto Soco Group (Australia)
- other active players.
Key Industry Developments
- In February 2023, Ola Electric announced plans to establish one of the world's largest electric vehicle manufacturing facilities in India, dubbed the "Futurefactory." This ambitious project aims to significantly ramp up the production of electric scooters, catering to both domestic and international markets. The investment reflects Ola Electric's commitment to scaling up EV adoption and positioning India as a global hub for electric two-wheeler manufacturing, indicating strong future growth in the market.
- In October 2022, Gogoro Inc. partnered with Uber Eats to integrate its battery swapping technology into Uber Eats' delivery fleet in Taiwan. This collaboration allows delivery riders using Gogoro electric scooters to quickly swap depleted batteries for fully charged ones at conveniently located stations, minimizing downtime. This initiative highlights the growing trend of leveraging electric scooter technology and efficient charging solutions to support the burgeoning last-mile delivery sector, enhancing operational efficiency and sustainability.
Key Findings of the Study
- Li-ion batteries dominate the market due to superior energy density and lifespan.
- Folding electric scooters hold the highest market share due to their portability and urban utility.
- Key growth drivers include increasing environmental consciousness and government incentives.
- The expansion of shared mobility and last-mile delivery services presents significant market opportunities.
