Electric Scooters Market Size, Share & Trends Analysis Report By Product (Retro, Standing/Self-Balancing, Folding), By Battery (Sealed Lead Acid, NiMH, Li-ion), By Voltage, And Segment Forecasts, 2022 - 2030

Electric Scooters Market Growth & Trends

The global electric scooters market size is expected to reach USD 40.6 billion by 2030, expanding at a CAGR of 7.8% during the forecast period, according to a study conducted by Grand View Research, Inc. The increasing adoption of electric scooters (e-scooters) among the young population, the rising purchasing power of the middle-class community in developing countries, and rapid urbanization are expected to significantly drive product demand across the globe.

Electric scooters offer affordable last-mile transportation as compared to on-demand transportation. Agility and ease of maneuver in densely populated areas with high traffic congestion are additional advantages these vehicles offer, which are expected to fuel E-scooters market growth.

Consumer satisfaction is another essential factor for vendors trying to retain existing customers or looking to expand their customer base. It can be measured using various parameters such as durability, maintenance expense, performance, comfort and safety, and operating cost. Vendors are trying to focus on two critical factors to attract customers: design/style and specifications.

In May 2019, Pure EV launched two electric scooters for the Indian market, EPLUTO and ETRANCE, with a long range of 120kms per charge. The ETRANCE scooter has a ground-to-handle height of about 3.5ft and weighs around 47kgs. These specifications were particularly designed for the women population in the country.

The 24V batteries have gained prominence over the past few years. The conventional electric scooters comprise 24V batteries that can travel for about 4 to 16 miles using a 250-Watt electric motor and a battery with electric charge ranging from 5Ah to 22Ah respectively. With the advent of improvements in battery technology, electric scooters consist of two 12V systems to power the engine more efficiently. However, due to their large battery size, manufacturers have encouraged the adoption of a dual pair of 12V batteries, known as the trickle charge system. The need for large energy storage capacity has declined the demand for these types of voltage systems.

The Asia Pacific region dominated the global market in 2021 and is predicted to continue its dominance during the forecast period. The growth in the region is accredited to the presence of an increasing number of e-scooter manufacturers and rising vehicle charging infrastructural investments in countries such as China, India, and Taiwan. Furthermore, governments of this region are seeking active participation in the promotion of electric scooters and vehicles. For instance, the government of India is actively promoting electric scooters and vehicles by providing fiscal incentives, capital, and interest subsidies.

North America is poised to grow considerably from 2022 to 2030. The growth in the region is owing to the faster adoption of electric vehicles in the U.S. as an alternative to traditional fuel transportation.

Electric Scooters Market Report Highlights

• By product, the retro segment is expected to dominate the market for e-scooters in the coming years. The increasing maintenance and fuel costs of conventional scooters are posing electric scooters as an attractive transportation alternative
• Based on voltage, the greater than the 48V segment is estimated to register the highest CAGR of 11.6% from 2022 to 2030. The deployment of additional voltage levels, i.e., scooters with voltage greater than 48V, offers several advantages. These systems facilitate reducing carbon dioxide emissions at acceptable cost levels
• The Asia Pacific region is expected to be the largest market during the forecast period, owing to significant investments in the vehicle charging infrastructure and government subsidies for battery-powered scooters. The majority of the players manufacturing electric scooters belong to China. These companies generate revenue by selling their products either through their distribution channel or the OEM channel