Electric Scooter Market Report by Voltage (24 V, 36 V , 48 V, Greater than 48 V), Product (Folding, Standing/Self-Balancing, Retro), Battery Type (Li-ion, Lead Acid, Others), End Use (Personal, Commercial), Countries and Company Analysis 2024- 2032

Electric Scooter Market Report by Voltage (24 V, 36 V , 48 V, Greater than 48 V), Product (Folding, Standing/Self-Balancing, Retro), Battery Type (Li-ion, Lead Acid, Others), End Use (Personal, Commercial), Countries and Company Analysis 2024- 2032

The electric scooter market had a value of US$ 24.67 billion in 2023 and is predicted to attain US$ 50.78 billion by 2032. The market is projected to grow at a compound annual growth rate of 8.35% among 2024 and 2032.

Electric vehicles, together with bikes and scooters, are becoming increasingly popular globally due to improvements in battery technology, environmental effective, and supportive government policies. These vehicles provide efficient, value-added, and eco-friendly transportation for everyday commuters and metropolis dwellers, making them a sizable technique for urban mobility. Electric scooters are emerging as the preferred mode of sustainable city transportation.

China is the largest market for electric scooters, with the highest income and manufacturing hubs. Electric 2 and 3-wheelers are relatively common in China, with about half being battery-powered cars sold. In 2022, China could have about 350 million electric scooters, more than private cars. These scooters are broadly utilized in number one and smaller towns and interior regions of China. India and Southeast Asia are also good-sized markets for electric scooters.

Electric Scooter Market Survey
• In 2022, approx 470,000 electric vehicles had been offered, with IDTechEx forecasting revenue to pass over 9 million units by 2043.
• In 2022, the US sold 1.1 million e-scooters, almost 4 times the number in 2019.
• According to a 2023 Canada government estimate, over 4,000 electric-powered two-wheelers were bought in 2020.
• In 2023, a total of 678,000 units of E-bikes had been bought in France.
• 72% of German EV sales in 2023 had been to associated events, along with taxi company GSM Green and Smart Mobility Joint Stock Co.
• By 2024, China's electric-powered two-wheeler market is expected to have sales of 46.2 million units due to the local transition period for enforcing the electric-wheeler specification and the mandated China Compulsory Certificate (3C) requirements.
• According to the Vahan portal, 910,930 electric-powered vehicles were bought in 2023–24, as compared to 682,937 units in 2022–23.
• According to the Micromobility Report in 2023 advised that more than 250,000 electric scooters and personal mobility devices had been bought and used all through Australia.

India Electric Scooter Market

The electric scooter market in India is swiftly growing due to environmental issues, fuel costs, and crowded roads. Electric scooters have turned out to be famous for green city mobility and eco-friendly commuting. The marketplace is growing pretty, especially for medium-pacer models, indicating a shift towards a more environmentally friendly future. In 2023, India sold a total of 15,26,433 electric vehicles across all segments, an increase of 49% YoY. Electric scooters and motorcycles accounted for 857,052 units, or 56.6%, with a solid growth rate of 36%. CY2022 alone contributed to 631,462 of those units.

India Government Initiative in Electric Vehicles

The Indian government brought the National Electric Mobility Mission Plan in 2013 to sell EV adoption and manufacturing in the country. The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) initiative was released as a part of this strategy in 2015 to provide incentives for EV purchase and the development of charging stations. The program has been extended to 2024 with a budget of US$ 1.3 Billion. The FAME II scheme has allotted US$ 122.05 Million in incentives for growing EV charging stations. Currently, 2,877 public charging stations have been established in 68 towns across India, and 1,576 stations will be established over nine expressways and 16 highways. Private players have delivered 3000 charging stations further to those public ones.

Electric Scooter Company Overview

Yadea Technology Group Co. Ltd., Niu Technologies, Mahindra, Vmoto Limited, Amper Vehicles, BMW Motorrad International, Gogoro Inc., Govecs Group, Hero Electric, and Zhejiang Luyuan Electric Vehicle Co. Ltd. are the various leaders within the global electric scooter market.

Electric Scooter Company News
• In January 2024, Riley Scooter proposed introducing the RS3 Electric Scooter in the U.S. at the Consumers Electronics Show.
• In February 2024 - Yamaha Motor Co. invested in River, a startup that sells electric scooters in India. The investment is for River's Series B round of funding through third-party allotment.
• In December 2023 - Gogoro introduced the Gogoro Crossover GX250, an electric scooter made in India. The model is tailored for Indian riders. This is a strategic move for Komatsu to tap into the Indian electric scooter market.
• In October 2023, TVS Motor plans to launch several new electric vehicle models, including the TVS X.
• In July 2023, Ola plans an IPO due to the success of its electric scooter sales in India.

Voltage –Market breakup in 4 viewpoints:

1. 24 V
2. 36 V
3. 48 V
4. Greater than 48 V

Product –Market breakup in 3 viewpoints:

1. Folding
2. Standing/Self-Balancing
3. Retro

Battery Type – Market breakup in 3 viewpoints:

1. Li-ion
2. Lead Acid
3. Others

End Use – Market breakup in 2 viewpoints:

1. Personal
2. Commercial

Country – Market breakup of 25 Countries:

1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey

3. Asia Pacific

3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand

4. Latin America

4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:
• Overview
• Recent Development
• Product Portfolio & Product Launch in Last 1 Year
• Revenue

Company Analysis:

1. Yadea Technology Group Co. Ltd
2. Niu Technologies
3. Mahendra
4. Vmoto Limited
5. Amper Vehicles
6. BMW Motorrad International
7. Gogoro Inc.
8. Govecs Group
9. Hero Electric
10. Zhejiang Luyuan Electric Vehicle Co Ltd