Electric Scooters Market Size - By Battery (Lead Acid, Lithium Ion), By Voltage (24V, 36V, 48V), By End-use (Personal, Commercial), Growth Prospects, Regional Outlook & Forecast, 2024 - 2032

Electric Scooters Market Size - By Battery (Lead Acid, Lithium Ion), By Voltage (24V, 36V, 48V), By End-use (Personal, Commercial), Growth Prospects, Regional Outlook & Forecast, 2024 - 2032

Electric scooters market is projected to expand at over 6% CAGR between 2024 and 2032, driven by the increasing concerns about environmental sustainability and the strong need to reduce carbon emissions. Electric scooters, powered by rechargeable batteries, have garnered popularity as they offer a clean and efficient mode of travel, appealing to environmentally conscious consumers. In February 2024, Aponyx Electric Vehicles, a manufacturer of eco-friendly transportation, introduced high-speed electric two-wheelers in India. The company stated that its vehicles were designed for efficiency, style, and a cleaner future. Additionally, the rising urbanization and congestion in cities has spurred the interest in compact and agile modes of transportation, making electric scooters an attractive solution for short distance commuting and navigating through traffic.

Electric scooters also render a convenient and affordable transportation option for short trips, reducing reliance on traditional modes of transport, such as cars or public transit. Their compact size and lightweight design makes them ideal for last-mile connectivity, bridging the gap between transportation hubs and final destinations. The higher availability of shared services in urban areas also provides consumers with a flexible and accessible mobility solution, further the driving market growth.

The electric scooters industry is divided based on battery, voltage, end-use and region

With respect to battery, the market value from the lead acid segment is slated to witness a significant growth rate through 2032, favored by compatibility with traditional scooter designs and affordability. Lead acid batteries, while less energy-dense than alternatives like lithium-ion, remain a popular choice due to their lower cost and widespread availability. This affordability makes batteries more accessible to a broader range of consumers, particularly in emerging economies where cost is a significant factor in purchasing decisions. Additionally, these batteries are well-established, simplifying maintenance and repair processes for electric scooter owners and manufacturers.

On the basis of end-use, the electric scooters market from the commercial segment is anticipated to observe robust growth during 2024 and 2032, backed by the higher demand for fleet solutions tailored to various industries. Moreover, the availability of specialized models equipped with cargo compartments and enhanced battery capacity to cater to the unique requirements of commercial users is further driving the product adoption.

North America electric scooters industry will showcase notable CAGR over 2024-2032, attributed to increasing urbanization and traffic congestion in major cities. Government initiatives for promoting clean energy adoption coupled with rising incentives and subsidies for EVs have made electric scooters more accessible and affordable for consumers. Furthermore, advancements in battery technology and the introduction of innovative features, such as longer range and faster charging times have bolstered consumer confidence in electric scooters, stimulating the regional industry growth.