Electric Scooters Market Forecasts to 2028 – Global Analysis By Drive Type (Belt Drive, Chain Drive and Hub Motors), Product Type (Standing/Self-Balancing, Retro and Folding), Technology (Plug-In and Battery Operated), Battery (Sealed Lead Acid, NiMH, Li-

Electric Scooters Market Forecasts to 2028 – Global Analysis By Drive Type (Belt Drive, Chain Drive and Hub Motors), Product Type (Standing/Self-Balancing, Retro and Folding), Technology (Plug-In and Battery Operated), Battery (Sealed Lead Acid, NiMH, Li-ion and Other Batteries), Voltage (24V, 36V, 48V and Greater than 72V), End User (Government Intuitions, Academic institutes/Universities and Other End Users) and By Geography

According tStratistics MRC, the Global Electric Scooters Market is accounted for $33.18 billion in 2022 and is expected treach $168.45 billion by 2028 growing at a CAGR of 31.1% during the forecast period. A motorized scooter that runs on electricity is an electric scooter. The EV doesn't need fuel toperate, unlike conventional scooters which do. Electric scooters have a connection between the motor and battery, and a power source or charging station is plugged in trecharge the battery. The two-wheeler is propelled forward by the motion produced by the charged battery. These scooters are easy tuse, battery-powered, environmentally friendly, and fuel-efficient.

According tthe European Motorcycle Manufacturers Association (ACEM), only 58,569 units were registered in 2020, 12.5% as compared tthe previous year. Due tconsumer adoption of EVs and autonomous vehicles; shared mobility is likely tfuel market expansion.

Market Dynamics:

Driver:

Development of high-performance e-scooters

The market for high-performance electric two-wheelers is expanding as a result of factors such as falling battery prices, low operating and maintenance costs, government subsidies and incentives, and growing public awareness of the need treduce vehicle emissions. Manufacturers of two-wheelers have begun tinvest in powerful electric motorcycles. The manufacturers' investment in high-performance e-scooters is causing the market tgrow as a result of the rising demand for e-motorcycles.

Restraint:

Lack of charging infrastructure

The biggest barrier tthe growth of the e-scooter industry will be the absence of charging infrastructure. The ease of charging an electric two-wheeler anywhere and at any time is the most crucial factor for any user ttake intaccount before making a purchase. Contrary tdeveloped nations, the majority of emerging nations lack the necessary charge stations, which is hampering the overall market growth.

Opportunity:

Urbanization and government initiatives

Shared bikes, electric scooters, and dockless bikes are just a few of the urban mobility trends that have become increasingly popular in recent years. Electric scooters are more practical for both short- and long-distance commutes and alscut down on overall travel time. The market for electric scooters and motorcycles is anticipated tgrow over time thanks trising support from government organizations in numerous countries. With the United States and China setting the bar, many nations have acknowledged the necessity of switching telectric vehicles in order treduce the rising pollution from automobiles. As a result, in the coming years, demand for electric scooters will grow more quickly than that for electric cars.

Threat:

Poor design & performance

Despite being more energy-efficient than conventional two-wheelers, electric two-wheelers still have issues with performance and design. Lack of consumer interest brought on by unsightly appearance and subpar performance is one of the market's most serious problems. The selection of electric motorcycles and scooters on the Indian market is limited, and their performance and design are average. As a result, it is obvious that in order tboost demand, manufacturers must increase the quality of the design and performance of electric two-wheelers.

Covid-19 Impact

Global economic growth has slowed as a result of the COVID-19 crisis. Implementations of lockdowns tstop the virus' spread caused supply chains tbreak down and manufacturing operations ttemporarily stop. The pandemic had an impact on the entire automotive sector, which in turn slowed the growth of the e-scooter market in the first half of 2020. Furthermore, the market was significantly impacted by the decline in automotive production and labor shortage. The market is anticipated trebound during the forecast period as automotive manufacturers have resumed operations as a result of steadily increasing automobile sales in nations with a low number of COVID-19 cases.

The Li-ion segment is expected tbe the largest during the forecast period

During the forecast period, the Lithium-ion battery segment is anticipated taccount for the largest share of the market for Electric Scooters. The cost of Li-ion batteries is anticipated texperience a downward trend, with a price drop of over 70% anticipated by 2030. As a result, it is anticipated that e-scooters will become less expensive. The primary force behind the advancement of lithium-ion batteries is the rising demand for rechargeable scooter batteries with low self-discharge rates. The demand for lithium-ion batteries has alsincreased as a result of growing awareness of the need for environmentally friendly batteries, as well as those that outperform sealed lead acid and nickel-metal hydride batteries in terms of performance over time.

The 72v segment is expected thave the highest CAGR during the forecast period

During the projection period, it is anticipated that the 72v segment is expected thave the highest CAGR. Electric scooter sales are anticipated tincrease as a result of an increase in the use of batteries with a 72V voltage. For instance, the electric scooter Mark 2 from India-based Simple Energy was introduced in August 2020. It has a range of 180 km in sport mode, 220 km in normal mode, and 260–280 km in ecmode. The Panasonic 72V 4.8kWh removable lithium-ion battery pack, rated IP67, is used in this scooter. Moreover, the segment is anticipated tgrow due tan increase in the use of 72-volt batteries for high-speed electric scooters.

Region with largest share:

Due tsignificant sales and production taking place in China, the Asia Pacific region is anticipated thold the largest share of the market during the projected timeframe. The APAC market is anticipated tbe driven by rising consumer demand for affordable e-scooters for short-distance travel and government initiatives tencourage the adoption of this type of scooter. The Indian government has alspromoted electric two-wheelers through programs like FAME-II that offer customers incentives and tax advantages. These elements fuel market expansion in this region.

Region with highest CAGR:

North America is predicted texperience the highest growth over the forecast period due trising government investments in the infrastructure for charging electric vehicles as well as research support for high-density batteries. Additionally, it is anticipated that encouraging R&D efforts focused on the creation of high-density batteries will accelerate regional market expansion in the coming years.

Key players in the market

Some of the key players profiled in the Electric Scooters Market include AllCell Technologies LLC, AmegElectric Vehicles Inc., Ampere Vehicles Pvt. Ltd., Ather Energy, BMW Motorrad International, BOXX Corp., GogorInc., GOVECS GmbH, Green Energy Motors Corp., Lime, HerElectric Vehicles Pvt. Ltd., Honda Motor Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Ola Electric, Kumpan Electric, Mahindra GenZe, NYCeWheels, Peugeot Scooters, Suzuki Motor Corporation, Terra Motors Corporation, Simpl Energy, VmotLimited, Yadea Technology Group Co. Ltd., Yamaha Motor Company Limited.

Key Developments:

In February 2023, Electric two-wheeler maker Ather Energy said it plans tinstall over 2,500 charging stations by this year-end tfacilitate a hassle-free transition tEVs. The company has already installed over 1,000 fast charging stations across 80 cities in the country.

In January 2023, Leading EV player Ather Energy said that it is in discussions with several state governments for the establishment of an extra factory taccommodate the demand as the adoption of electric two-wheelers stabilises somewhat following several fire mishaps last year. Ather Energy's Chief Business Officer (CBO), Ravneet Phokela, told IANS that the company is increasing manufacturing production and intends tadd 1 million units of capacity tits existing 400,000 annual capacity.

In July 2022, Ola Electric announced the investment of USD 500 million tset up battery innovation centre in Bengaluru. BIC will be one of the world's largest and most advanced cell R&D facilities with more than 165 unique and cutting-edge lab equipment tcover all aspects of cell related research and development, the electric vehicles company said.

Drive Types Covered:
• Belt Drive
• Chain Drive
• Hub Motors

Product Types Covered:
• Standing/Self-Balancing
• Retro
• Folding

Technologies Covered:
• Plug-In
• Battery Operated

Batteries Covered:
• Sealed Lead Acid
• NiMH
• Li-ion
• Other Batteries

Voltages Covered:
• 24V
• 36V
• 48V
• 60V
• 72V
• Greater than 72V

End Users Covered:
• Government Intuitions
• Academic institutes/Universities
• Business Organizations
• Micromobility Service Providers
• Individuals
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements