Electric Scooters Market Report

Electric Scooters Market Analysis By Product (Retro, Standing/Self-Balancing, Folding), By Battery (Sealed Lead Acid, NiMH, Li-Ion), By Voltage (24V, 36V, 48V) And Segment Forecasts, 2014 - 2024

Published: November 2016  |  105 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-196-2

Industry Insights

The global electric scooters market size was valued at USD 14.8 billion in 2015. The advent of increased green-house and carbon emissions are expected to contribute to the adoption of electric scooters over the next eight years. Electronic transportation is becoming an eco-friendly alternative with increasing pressure to limit the carbon footprints. The increase in the fuel costs and the maintenance of fuel-powered vehicles are expected to have positive impact on the industry growth.

Over the past years, there has been an upsurge in the awareness of air quality and environmental concerns. The stringent government regulations for environmental air protection and carbon dioxide emissions is enabling manufacturers to develop eco-friendly two-wheelers. These vehicles have the potential to be an industry-changing force, although its continuous development requires collaboration among the automotive and battery manufacturers.

Electric Scooters Market By Product, 2014 - 2024 (USD Million)

Electric Scooters Market

The expanding non-financial and financial incentives are proving effective adoption of electric scooters. The need to modernize the transportation infrastructure and sustainable urban mobility are providing traction to transition from conventional to electric transportation. Electric scooters are expected to have positive implications for air quality, harmful emissions and energy security that will facilitate the increase in renewable energy share in the power sector. 

Product Insights

Standing/self-balancing scooters accounted for a significant share in 2015, owing to the growing use of Segway in the hotel and tourism industry. The recreational and tourism use of Segway is becoming a cult leading to its increased adoption. Moreover, the cost of hover boards is decreasing, thereby reducing the overall consumer cost. 

The demand for e-scooters has led to a fundamental shift in the existing vehicle landscape in the areas of design, development, distribution and electricity infrastructure. The role of governments of various economies such as India, China and Japan in setting up standards and regulations for vehicle charging stations is expected to have a positive impact on the regional growth.

Battery Insights

The sealed lead acid battery held the largest revenue of over USD 10 billion in 2015, which can be attributed to its high adoption in China.Sealed lead acid batteries are continuing to represent the dominant segment owing to its low-cost as compared to others and their popularity in China.

However, the adoption of these batteries is expected to decline over the coming years particularly in China, as the country is quickly transitioning towards more environmentally conductive and high performing batteries such as Li-Ion and NiMH.

Voltage Insights

48V segment held a revenue share of over 14% in 2015 and is expected to witness significant growth over the forecast period. The high voltage levels of batteries offer cost-effective opportunities for hybridization of vehicles. The demand for high voltage batteries is elevating to reduce the carbon dioxide emissions by means of start-stop and recuperation features.

Regional Insights

The Asia Pacific electric scooters market accounted for over 77% of the industry share in 2015, owing to the regional growth in vehicle charging infrastructure expenditure and urbanization. Moreover, China and Taiwan are home to the manufacturing of these vehicles with a high production investment. 

U.S. electric scooters market share, by product, 2015

U.S. electric scooters market

North America is expected to emerge as a prominent region over the forecast period. The goal of reaching 1.5 million zero emission vehicles by the governor of California by 2025 is contributing to the regional demand. The U.S. is expected to emerge as a favorable adopter of these vehicles as new products are becoming available and various large manufacturers such as Mahindra GenZe are entering the U.S. market.

Competitive Insights

The key industry competitors include Gogoro Inc., Terra Motors Corporation, Mahindra GenZe, Vmoto Limited, Jiangsu Xinri Electric Vehicle Co. Ltd and BMW Motorrad International. The key players are expanding their product capabilities oversees to gain industry presence. For instance, in 2016, Gogoro Inc. partnered with Coup to expand its smart electric scooters sharing service in Berlin and other European cities.

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2015

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Historic

2014 - 2015

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Forecast

2016 - 2024

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Size, company share, competitive Landscape, growth factors, trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the electric scooters market on the basis of product, battery, voltage, and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2024)
    • Retro

    • Standing/Self-balancing

    • Folding

  • Battery Outlook (Revenue, USD Million; 2014 - 2024)
    • Sealed lead acid

    • NiMH

    • Li-Ion

  • Voltage Outlook (Revenue, USD Million; 2014 - 2024)
    • 24V

    • 36V

    • 48V

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2024)
    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Mexico

      • Brazil

    • MEA

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