Electric Scooter Market is segmented by Vehicle Type (Electric Motorcycles, E-scooters & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology (SLA, Li-ion, Li-ion Polymer), Motor Type, Charging Type, End-user
By 2028, The Electric Scooter Market is projected to reach market size value of USD 664.5 billion at a 29.4% CAGR during the forecast period of 2022-2032.
Electric Scooters are motorized bicycles that can be propelled by electric, human power or both. This innovative form of transportation is easy to use and convenient especially considering the volume of traffic.
Electric Scooter Market Growth and Trend
Electronic Scooter market is expected to flourish because of the increasing adoption of electronic motorcycles and e-bikes. This is of course duet to the consumers’ preference of taking short commutes rather than exerting effort to go on a public transportation. Another growth factor contributing to the market growth is the rising environmental awareness--consumers take into consideration the positive environmental effects brought about by the use of electronic motorcycles; and increasing investments by companies doing ride-hailing in the micro-mobility space are the major contributing growth factors.
Positive Impact of COVID-19 in the Electric Scooter Market
There is an overall positive outcome arising from the pandemic that affects the growth of the market--this is due to the imposed protocols by the governments globally to avoid crowded public transportation systems if possible to avoid viral transmission. People have now started riding convenient mode of transportation in cases of short distance commutes like riding bikes, or using e-bikes. Governments in Europe have invested in a wide scale cycling infrastructure that promotes utilizing these convenient rides. As per the European Cyclists Federation, this pandemic resulted to a spike in sales of electric bicycles in the Europe by 47%, and by 145% in the U.S. during the COVID-19 pandemic.
Restraints in Market
A restraint in this market can also be attributed to the adverse effects caused by the pandemic. Since safety and health regulations are imposed globally, manufacturing and distribution of mechanical parts needed to assemble electronic bicycles are also affected. There is a disruption in the supply chain which then makes it challenging for key players and manufacturers to increase their sales because travel, transportation and approvals in processing are delayed, if not, halted.
Key Findings in the Electric Scooter Market
In terms of vehicle type, the electronic motorcycles segment is expected to have the largest share accounted for in 2021. e-scooters and bikes segment is projected to grow highest considering its CAGR by value during the forecast period. Drivers for the growth of this segment is due to the increased use of courier and delivery applications. A growing awareness on energy efficiency is also one driver for growth along with the increasing investments by the government to promote development of electronic vehicle charging infrastructure.
In terms of power output segment, 3.6kW to 7.2kW segment is expected to flourish at the highest CAGR. The 3.6kW segment is also expected to have the largest share accounted for in the electronic scooter market in 2021. the rapid growth and development of this market is attributed to the quick adoption of electric motorcycles in emerging economies as well as increasing investments in the electric two-wheeler segment.
Lithium-ion polymer segment is projected to grow at a rapid significant pace because in terms of battery technology, this is more efficient, has higher energy density, and low-cost manufacturing. Having this kind of battery, there is high resistance to physical damage and little to less chances of leaking electrolytes.
Electronic Scooter Market: Country Analysis
North America dominates the regional market by value and volume. Even though Asia Pacific is projected to account for the largest share in the market by value and volume in 2021, North America is expected to have the fastest growth due to increasing investments, decreasing prices in batteries, and rise in the initiatives by large two-wheeler companies.
The key players known in the Electric Scooter Market are, Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.), Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese & Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes Inc. (U.S.), Pedego Inc. (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang Minimotors Bike Co Ltd (China), Zero Motorcycles Inc. (U.S.), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd. (India), Energica Motor Company (Italy), Revolt Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Vehicle Type Analysis (Revenue, USD Million, 2021 - 2028)
• Electric Motorcycles
• E-scooters & Bikes
Power Output Analysis (Revenue, USD Million, 2021 - 2028)
• Less Than 3.6kW
• 6kW to 7.2kW
• 20kW to 100 kW
Battery Technology Analysis (Revenue, USD Million, 2021 - 2028)
• Sealed Lead Acid
• Lithium-ion Polymer
Motor Type Analysis (Revenue, USD Million, 2021 - 2028)
• Hub Motors
• Geared Hub Motors
• Gearless Hub Motors
• Mid-drive Motors
Charging Type Analysis (Revenue, USD Million, 2021 - 2028)
• Wireless Charging
End User Analysis (Revenue, USD Million, 2021 - 2028)
• Government Intuitions
• Academic institutes/Universities
• Business Organizations
• Micromobility Service Providers
• Other End-users
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Electric Scooter Industry Research Report
• Europe Electric Scooter Industry Research Report
• Asia Pacific Electric Scooter Industry Research Report
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