Electric Scooters Market Size, Share & Trends Analysis Report By Battery (Lithium-ion, Lead-acid), By Drive Type (Belt Drive, Hub Motor), By End-use (Personal, Commercial), By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global electric scooters market size was exhibited at USD 37.08 billion in 2023 and is projected to hit around USD 96.18 billion by 2033, growing at a CAGR of 10.0% during the forecast period of 2024 to 2033.

Key Takeaways:

• Asia Pacific dominated the global industry in 2023 and accounted for the largest share, accounting for more than 75.0% of the overall revenue.
• The hub-drive motor type is expected to hold a dominant share of more than 70% in the electric scooters market during the forecast period.
• The personal use segment holds a dominant share of more than 61% in the electric scooter market.
• The lead-acid battery segment will account for less than 20% of the electric scooter market in 2023.

Electric Scooters Market by Overview

The electric scooters market has experienced a significant surge in popularity in recent years, driven by a global shift towards sustainable and eco-friendly transportation alternatives. As urbanization continues to rise, coupled with a growing emphasis on reducing carbon emissions, electric scooters have emerged as a practical solution for last-mile connectivity.

Electric Scooters Market Growth

The electric scooters market is experiencing robust growth, propelled by several key factors. A pivotal driver is the escalating global concern for the environment, prompting consumers to gravitate towards sustainable transportation alternatives. As cities grapple with increasing urbanization, electric scooters emerge as a practical solution for last-mile connectivity due to their compact and nimble nature. Governments worldwide are contributing to this growth through initiatives that include incentives, subsidies, and infrastructure development, creating a favorable environment for the expansion of the electric scooters market. This confluence of environmental consciousness, urbanization trends, and supportive government policies positions electric scooters as a significant player in the evolving landscape of modern transportation.

Electric Scooters Market Report Scope

Electric Scooters Market Dynamics

• Regulatory Landscape and Challenges:

The electric scooters market operates within a dynamic regulatory landscape, presenting both opportunities and challenges. While governments globally are increasingly supportive of sustainable mobility, regulations surrounding electric scooters vary, posing a challenge for market players. Issues such as speed limits, helmet requirements, and the allocation of dedicated lanes impact market penetration. Navigating these regulatory intricacies is crucial for industry players to ensure compliance and foster a conducive environment for sustained growth.

• Technological Innovations and Smart Features:

Technological advancements are driving innovation within the electric scooters market, with a surge in the integration of smart features. Companies are incorporating GPS tracking, mobile app connectivity, and digital locks to enhance user experience and address safety concerns. These technological upgrades not only improve the efficiency of electric scooters but also align with the contemporary demand for interconnected and user-friendly transportation solutions. As the market continues to evolve, the integration of cutting-edge technologies is expected to be a pivotal dynamic shaping the future growth trajectory of electric scooters.

Electric Scooters Market Restraint

• Safety Concerns and Regulatory Compliance:

One significant restraint affecting the electric scooters market revolves around safety concerns and the need for stringent regulatory compliance. Instances of accidents and injuries associated with electric scooters have raised apprehensions among users and regulatory authorities alike. Striking the right balance between fostering market growth and implementing safety regulations poses a challenge. 

• Infrastructure Challenges and Range Limitations:

The electric scooters market faces a restraint linked to infrastructure challenges and the inherent limitations of battery range. The widespread adoption of electric scooters necessitates a robust charging infrastructure, which is currently underdeveloped in many regions. Additionally, the limited battery range of electric scooters poses constraints on their utility for longer journeys. 

Electric Scooters Market Opportunity

• Growing Urbanization and Last-Mile Connectivity:

The electric scooters market is poised to capitalize on the burgeoning trend of global urbanization and the increasing need for efficient last-mile connectivity solutions. As cities expand and traffic congestion rises, electric scooters present an opportunity to provide quick, cost-effective, and eco-friendly transportation for short-distance commuting. The demand for seamless urban mobility positions electric scooters as a valuable solution, offering convenience to users and contributing to the reduction of traffic congestion and environmental impact.

• Advancements in Battery Technology and Range Extension:

Continuous advancements in battery technology present a significant opportunity for the electric scooters market. Improvements in battery efficiency, capacity, and charging speed are enhancing the range and overall performance of electric scooters. As battery technologies evolve, electric scooters can extend their range, making them more versatile and appealing to a broader audience. This opportunity not only addresses range limitations but also contributes to the overall sustainability and competitiveness of electric scooters in the broader transportation market.

Electric Scooters Market Challenges

• Regulatory Hurdles and Safety Concerns:

A primary challenge confronting the electric scooters market pertains to navigating regulatory hurdles and addressing safety concerns. Varied and evolving regulations, including speed limits, helmet requirements, and rider age restrictions, pose a complex landscape for market players. Moreover, incidents of accidents and injuries associated with electric scooters have raised safety apprehensions among both users and regulatory authorities. Striking a balance between encouraging market growth and implementing effective safety measures remains a critical challenge, necessitating collaboration between industry stakeholders and regulatory bodies.

• Charging Infrastructure and Range Limitations:

The electric scooters market faces a critical challenge related to charging infrastructure and the inherent limitations of battery range. The widespread adoption of electric scooters necessitates a robust and accessible charging network, which is currently underdeveloped in various regions. Additionally, the limited range of electric scooter batteries poses challenges for longer journeys, impacting their suitability for certain use cases. Overcoming these challenges requires substantial investment in charging infrastructure and ongoing advancements in battery technology to enhance the overall viability and appeal of electric scooters in the broader transportation landscape.

Segments Insights:

Drive Insights

Based on the drive type, the electric scooter market can be categorized into belt, chain, and hub motor. The hub drive motor type is expected to hold dominant share with more than 70% in the electric scooters market forecast period. The hub drives offers efficient power transmission, quitter operations and low repair & maintenance over the other counter parts in the market. This is encouraging prominent players in the electric scooters market such as such as Yadea Technology Group Co Ltd., NIU International, Yamaha Motor Corporation and others to offer range hub drive electric scooter in the market.

The belt chain type segment is expected to witness high CAGR of 11.2% in the electric scooter market. The segmental growth is owing to its advantages, such as low maintenance, longevity, and lighter weight. Belt drive electric scooters offers better performance, enhanced pickup, infinite gear ratios and protects the electric scooter from overloading and slips. Thus, belt-drive scooters are expected to experience higher implementation adoption.

End Use Insights

Electric scooters can be classified into personal and commercial use based on end-use. Personal use segment holds dominant share of more than 61% in the electric scooter market. Electric scooter is changing the landscape of personal vehicles, as the scooters are eco-friendly, affordable, lightweight, low maintenance, and easily maneuverable they are widely preferred over other electric counterparts. In addition, electric scooters are popular among millennials and low and middle-income groups. Many manufacturers are integrating connected vehicle technology in these scooters to provide an initiative driving experience. Besides, rising electric scooter manufacturers focus on developing private charging stations or a designated spot to charge for the electric scooter is expected to increase the adoption of e-scooters among consumers.

The commercial segment is expected to witness CAGR growth of the 12.7% during the forecast period. Electric scooters are an economical and viable option for last-mile delivery for commercial applications as in places such as factories, universities, warehouses, and industrial sites construction with large land areas, e-scooters may be an option for efficient and fast transportation. As the trend of shared mobility is gaining traction, many vehicles renting facilities are increasing e-scooters that can be used on per mixture or time duration packages for long distance commute, thus contributing to the segmental growth.

Battery Insights

By battery, the E-scooters market is segmented into Lithium-Ion (Li-ion), Lead Acid and other battery types such as others. The lead acid battery segment witnesses the considered share of less than 20% of the electric scooter market in 2023. The factors such as lesser tolerance to abuse, bulker size and high discharge rapidly, even without handling heavy load this reduces adoption of lead acid batteries in the coming years.

The lithium-ion battery segment is estimated to register a considerable growth rate over the forecast period. The price of lithium-ion batteries is expected to witness a declining trend over the coming years, with the price expected to fall more than 70 percent by 2030. Hence, this is expected to decrease the costs of electric scooters as well. More environmentally conducive batteries and growing demand for high-performance batteries such as Li-ion and NiMH are driving the need for battery operated e-scooters. Some of the benefits offered by these batteries are high charging-discharging efficiency, high charge density, and lightweight.

Regional Insights

Asia Pacific dominated the global industry in 2023 and accounted for the largest share of more than 75% of the overall revenue. Most electric scooter manufacturers have emerged from China, Taiwan, and Japan, acquiring the largest share all over the world. China has emerged not only as a leading consumer of electric scooters but also as the leading producer and exporter. Vendors active in the China market include Jiangsu Xinri Electric Vehicle Co., Ltd., Yadea, AIMA Group, Zhejiang Luyuan, and Niu International. In addition to this, the regional market is fueled by the growing awareness among consumers to adopt clean energy transportation to curb vehicular emissions, rapid urbanization, and the increasing affordability of e-scooters. Additionally, research and development activities will continue to give this market a significant boost over the next decade. Prominent Japanese companies such as Honda, Yamaha, Suzuki, and Kawasaki have rolled out their variants of electric scooter which is further intensifying the competition in the Asian market.

Europe electric scooter market is expected to witness the considerable growth rate over the forecast period. Growing investment in electric vehicle charging infrastructure and research support for innovative high-density batteries is anticipated to contribute to overall regional growth. Moreover, witnessing a steep growth in the entry of international electric scooter manufacturers, vendors active in the Europe region are focusing on launching multiple variants of electric scooters to attract the young population. Such strategies, adopted by companies operating in the region are expected to fuel the overall growth of the European market.

Recent Developments

• In January 2024, Riley Scooter, a Cambridge-based company proposed plans to introduce RS3 Electric Scooter, a fully foldable electric scooter in the U.S. at the Consumers Electronics Show held in Las Vegas.
• In December 2023, Gogoro, a Taiwanese player unveiled Gogoro CrossOver GX250 domestically produced electric scooter in India. The company offers a tailor smart scooter to Indian riders. The introduction of these models marked a strategic move for Komatsu to tap into the Indian electric scooter market.
• In September 2023, Bird, a key player in the electric micro mobility market acquired Spin, an electric scooter and e-bike rental company for USD 19 million. This acquisition has reduced bird competition and aided in maintaining the company’s dominance in the market.
• In March 2023, Yadea Technology Group Co, Ltd, launched the range of products YADEA Fierider, YADEA VoltGuard Scooter, and YADEA Keeness Electric Motorcycle in Vietnam. The products offered by the company have premium-level quality and exceptional rider experience which provide a competitive edge to the company.

Some of the prominent players in the electric scooters market include:

• AllCell Technologies LLC
• BMW Motorrad International
• BOXX Corp.
• Gogoro, Inc.
• Green Energy Motors Corp.
• Greenwit Technologies Inc.
• Honda Motor Co. Ltd.
• Jiangsu Xinri E-Vehicle Co., Ltd.
• KTM AG
• Mahindra GenZe.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global electric scooters market.

Drive

• Belt Drive
• Chain Drive
• Hub Motors

Battery

• Lead Acid
• Li-Ion
• Other

Product

• Standard
• Folding
• Self-Balancing
• Maxi
• Three wheeled

Battery Fitting

• Detachable
• Fixed

End Use

• Personal
• Commercial

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)