GVR Report cover Electric Scooters Market Size, Share & Trends Report

Electric Scooters Market Size, Share & Trends Analysis Report By Product (Retro, Standing/Self-Balancing, Folding), By Battery (Sealed Lead Acid, NiMH, Li-Ion), By Voltage, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-1-68038-196-2
  • Format: Electronic (PDF)
  • Historical Data: 2018 - 2019
  • Number of Pages: 164

Report Overview

The global electric scooters market size was estimated at USD 19.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028. The increasing demand for fuel-efficient vehicles, coupled with growing concerns over greenhouse gas and carbon emissions, is anticipated to drive the adoption of electric scooters (e-scooters) over the forecast period. The Covid-19 pandemic has affected the overall automotive industry, leading to a subsequent decline in growth of the electric power train market as a result of low automotive sales and new requirements during the first half of 2020. However, stringent emission norms by the government agencies such as emission standards for greenhouse gas (GHG) emissions by the US Environmental Protection Agency (EPA), BS-VI in India, and China VI are driving the market for electric scooters. High mechanical efficiency, easy integration of regenerative braking, low noise levels, and moderately economical maintenance costs are the factors supporting the market growth.

U.S. electric scooters market size, by product, 2018 - 2028 (USD Million)

The COVID-19 crisis has resulted in a global economic slowdown. Lockdowns implemented in various parts of the world to curb the spread of the virus led to disruptions in the supply chains and a temporary ceasing of production at several production facilities. The electric scooters market is particularly vulnerable due to its dependency on global sourcing for its batteries' core technology. The initial purchase cost of electric vehicles is more significant than their gas-powered and hybrid counterparts. However, increasing awareness towards social distancing has resulted in a surge in the adoption of e-scooters.

Increasing adoption of electric scooter sharing services in countries such as Spain, the U.S., Germany, and France has spurred the demand for battery-powered two-wheelers. Companies such as Razor, Lime, Bird, Jump, and Spin offering e-scooter sharing services are procuring these vehicles mainly from manufacturers such as Xiaomi; Gogoro, Inc.; and Ninebot-Segway. The penetration of these sharing services is witnessing an exponential adoption rate since 2016. Currently, more than 90 cities and various universities across the globe use this service, with around 95 percent of scooters having an electric drive train.

Increasing monetary and non-monetary incentives are encouraging the adoption of battery-operated two-wheelers. Moreover, the need for sustainable urban mobility and modern transportation infrastructure is driving the transition from conventional to electric modes of transport. E-scooters are anticipated to have a positive influence on energy security and air quality.

The participation of vehicle manufacturers and governments in meeting the standards for zero-emissions is significantly contributing to reduce the carbon emission gap significantly by 2020. Furthermore, the consumption of electricity in these vehicles can be managed with proper energy and power infrastructure planning. This is further mitigated using renewable energy and technological advancements such as solar-powered vehicles and vehicle-to-grid technologies.

Governments across the globe have formulated several policies to increase the penetration of electric scooters by offering various benefits to consumers as well as manufacturers in the form of subsidies. Support in the form of research and development initiatives is also a prominent growth factor. For instance, in the U.S., the Corporate Average Fuel Economy (CAFÉ) standards are increasing the adoption of energy-efficient automobiles by framing regulations for enhancing the utilization of alternative fuel vehicles and the reduction of fossil fuel consumption. Similarly, the Canadian government is developing a strategy to reduce the country’s greenhouse gas emissions and increase the number of zero-emission vehicles. Besides this, the swift adoption of scooter-sharing services has triggered the demand for battery-powered two-wheelers. This, in turn, creates a highly conducive environment for growth.

Product Insights

The retro segment dominated the market with a revenue share of more than 50% in 2020 owing to the shift toward green vehicles for commuting over short distances. This move has helped reduce overall commuting costs for consumers across the world. However, the scenario is changing in countries such as the U.S., as more and more millennials residing in cities have started opting for convenient, lightweight vehicles with less operational cost.

The folding variant is anticipated to exhibit a CAGR of 10.1% over the forecast period. The advent of next-generation smart electric scooters with big data and IoT technology and the need for product differentiation have driven demand for folding e-scooters. However, the control and convenience of standing/self-balancing e-scooters in commercial and residential applications for amalgamation of daily activities is expected to propel its demand from 2020 to 2028.

Battery Insights

The SLA battery segment dominated the market with a revenue share of more than 60% in 2020 owing to the benefits of the SLA battery such as robustness, tolerance to abuse, and low cost. However, the adoption of SLA batteries is predicted to decline in the coming years as they are bulky in size and discharge rapidly, even without handling heavy loads.

The lithium-ion battery segment is estimated to register a CAGR of 10.4%. The price of lithium-ion batteries is expected to witness a declining trend over the coming years, with the price expected to fall by around 70 percent by 2028. 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.

Voltage Insights

The 36V segment accounted for 62.1% of the overall revenue share in 2020. These batteries possess high compatibility with e-scooters and provide superior power output, which is projected to propel segment growth. However, the demand for 48V batteries is increasing since consumers prefer scooters with a long battery range to avoid the hassle of frequent battery charging.

Global electric scooters market share, by voltage, 2020 (%)

The greater than 48V segment is estimated to witness significant growth in the forthcoming years, registering a CAGR of 11.5% from 2021 to 2028. E-scooters equipped with 60V and 70V batteries are predicted to witness substantial growth owing to constant R&D activities to enhance the overall range and speed of e-scooters. Moreover, high voltage batteries are being upgraded with recovery and start-stop features to reduce CO2 emissions in the environment.

Regional Insights

Asia Pacific dominated the global e-scooters market and was valued at USD 14.3 billion in 2020. 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 a 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.

North America is slated to witness the highest CAGR of 13.2% 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. For instance, Revel entered into the U.S. market with an investment of USD 27.6 million and rolled out 68 MUVI electric scooters manufactured by Spanish company Torrot.

Moreover, witnessing a steep growth in the entry of international electric scooter manufacturers, vendors active in the 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 regional market.

Key Companies & Market Share Insights

Prominent industry participants include Mahindra GenZe; BMW Motorrad International; Vmoto Limited; Terra Motors Corporation; Gogoro Inc.; and Jiangsu Xinri Electric Vehicle Co. Ltd. Players such as Lime; Bird Rides, Inc.; and Govecs AG are focused on launching last-mile e-scooter rental services in different countries and cities with a joint venture strategy to expand their industry footprint across the world.

In China, prominent market players are focused on research and development activities and product level strategies to expand their market share. In Taiwan, Gogoro’s swappable battery electric scooter has revolutionized the market, and many Asian vendors are affiliating with Gogoro to integrate the swappable battery technology in their electric scooters. Prominent Japanese companies such as Honda, Yamaha, Suzuki, and Kawasaki have rolled out their variants of electric scooters, further intensifying the competition in the Asian market. Some of the prominent players operating in the global electric scooters market are:

  • Mahindra GenZe

  • BMW Motorrad International

  • Vmoto Limited

  • Terra Motors Corporation

  • Gogoro Inc.

  • Jiangsu Xinri Electric Vehicle Co. Ltd.

Electric Scooters Market Report Scope

Report Attribute


Market size value in 2021

USD 20.8 billion

Revenue forecast in 2028

USD 34.7 billion

Growth rate

CAGR of 7.6% from 2021 to 2028

Base year for estimation


Historical data

2018 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company market share, competitive & vendor landscape, regulatory landscape, competitive landscape, growth prospects, and trends

Segments covered

Product, battery, voltage, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; China; Japan; India; Mexico; Brazil

Key companies profiled

Mahindra GenZe; BMW Motorrad International; Vmoto Limited; Terra Motors Corporation; Gogoro Inc.; Jiangsu Xinri Electric Vehicle Co. Ltd.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to Country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Grand View Research has segmented the global electric scooters market report based on product, battery, voltage, and region:

  • Product Outlook (Revenue, USD Million, 2018 - 2028)

    • Retro

    • Standing/Self-Balancing

    • Folding

  • Battery Outlook (Revenue, USD Million, 2018 - 2028)

    • Sealed Lead Acid

    • NiMH

    • Li-Ion

  • Voltage Outlook (Revenue, USD Million, 2018 - 2028)

    • 24V

    • 36V

    • 48V

    • Greater than 48V

  • Regional Outlook (Revenue, USD Million, 2018 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.