GVR Report cover Scooter Market Size, Share & Trends Report

Scooter Market Size, Share & Trends Analysis Report By Product Type (Conventional Scooter And Electric Scooter), By Electric Scooter Type, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68038-622-6
  • Number of Pages: 110
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Technology

Report Overview

The global scooter market size was valued at USD 67.21 billion in 2021 and is projected to register a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. The rapid rate of urbanization and improving road connectivity in emerging economies have created a high demand for transportation. The unavailability of public vehicles at remote locations encourages consumers to purchase personal vehicles. Consumers are looking for lightweight, easy-to-drive & operate, and economical vehicles; thus, scooters are widely preferred. Battery-powered electric scooters require no fuel and are free from vehicular pollution, fostering the scooter market.

U.S. scooter market size, by product, 2020 - 2030 (USD Billion)

Although various factors contribute to the scooter market's growth, the pandemic has severe impacts. Global lockdown, supply chain disruption, and limited transportation lead to low or no demand for the vehicle. There is a sharp decline in the sales of automobiles like scooters, both conventional and electric. Post-COVID-19, there has been a spike in demand for electric scooters, majorly from China and India. Thus, to cope with demand, scooter manufacturers are launching new vehicle ranges with the latest technologies in the market. In addition, they are working on enhancing the existing design, colors, weight, safety, and experience of the scooters to gain consumers' traction. 

Growing regulatory norms, a ban on internal combustion engine (ICE) vehicles, a lower import duty on electric vehicles, and improved battery charging infrastructure has shifted consumer preference. They are adopting electric scooters over conventional ones. Electric scooters are lightweight, easy to operate, and battery-powered; thus can be used for short-distance travel and local sightseeing. Further, the high mechanical efficiency, lower noise level, the lower total cost of ownership, and lesser maintenance of electric scooters propel their demand. Besides, there is rising adoption of electric scooters for sharing services in developed countries, which is expected to foster the growth of the scooters market.

The economic development of a country highly depends on its road connectivity. The governments of emerging nations are investing in building safe and reliable roads. Investment in road construction has brought new growth opportunities for the transportation and logistics sector. Many people in business have started entering the logistics market by setting up their firms or partnering with existing firms. Thus, they require vehicles to deliver goods at a minimum time and cost; scooters are one of the preferred vehicles. Scooters can escape the traffic and need less fuel than bikes, mopeds, and cars.

Furthermore, scooter manufacturers are majorly focusing on incorporating new technology into the vehicles to increase their speed, enhance battery efficiency, and make them cost-effective for customers. Besides, electric scooter manufacturers have introduced a range of scooters in emerging economies. For instance, Silence, a Spanish company, has introduced Silence 01 and 02 in South Africa; these models have fast charging features, load-carrying capacity, and removable batteries. Therefore, such strategies adopted by the automakers are expected to create new growth opportunities for scooters.

Product Type Insights

The global scooter market is bifurcated into normal scooters and electric scooters. The normal scooter segment held the largest market share of 69% in 2021. There is increasing consumer traction towards a vehicle that offers comfortable rides with gearless driving systems and operates at a minimal cost, propelling the sales of normal scooters. Normal scooters provide high mileage as well as robust body enhanced maneuverability, contributing to the high share segment.

The electric scooter segment is expected to witness a CAGR of 7.8% during the forecast period. Increasing awareness of greenhouse gases, carbon emissions, and pollutants coupled with the rising demand for fuel-efficient vehicles is expected to propel the growth of the electric scooter segment. Further, governments worldwide are formulating new policies and regulations to increase the penetration of electric scooters by offering various incentives and benefits to consumers. Besides, an upsurge in the adoption of electric scooters for rental sharing services has spurred the demand for electric scooters.

Electric Scooter Type Insights

The electric scooter segment is bifurcated into the conventional scooter and the swappable scooter. The conventional electric scooter segment held a market share of 88% in 2021. Conventional electric scooters are lightweight, robust, and have lower initial and maintenance costs than their counterparts, thus widely adopted by consumers. Further, conventional electric scooter manufacturers focus on developing technologically advanced traditional electric scooters at a minimum price, contributing to a high segmental share.

Global Scooter market share, by electric scooter type, 2021 (%)

The battery swappable electric scooter segment is expected to witness significant growth of 18.6% during the forecast period. The segment growth is attributed to the increasing focus of automobile manufacturers on developing battery-swapping technology to enable scooter owners to replace depleted batteries with fully charged ones. Battery swappable electric scooter manufacturers are introducing scooters without installed batteries. Vehicles without batteries allow consumers to choose the batteries according to their budget and requirements.

Regional Insights

Asia Pacific region held the largest market share of 67.9% in 2021 of the overall market. This high share of the market is attributed to the increasing disposable income of the consumers in the region. Rather than relying on public buses, consumers prefer independent vehicles that save time spent in traffic jams. Furthermore, compared to electric motorcycles and electric mopeds, the electric scooter is inexpensive in terms of both the initial purchase price and the ongoing maintenance costs. Since electric vehicles are battery-powered, they provide consumers with relief from rising oil prices in the region.

European electric scooter manufacturers, such as GOVECS AG, Torrot Electric Europa S.A., and Unu GmbH, are introducing technologically advanced vehicles. The vehicle has various features such as security, provides alerts, self-diagnosis & remote telemetry, GPS tracking, motor & power deactivation, and speed limitation, thus making the scooter smarter and more secure. The innovation in the region is expected to drive the demand for electric vehicles in the market.

The North American region is expected to witness a CAGR of 9.9% during the forecast period. Shifting consumers’ preference for rental electric scooters over other two-wheelers is a major contributing factor to the North American growth of the scooter market.

Key Companies & Market Share Insights

The key players that dominated the global scooter market in 2021 include Yadea Technology Group Co., Ltd., Neutron Holdings, Inc., Ninebot Limited, and Bird Rides, Inc., among others. Most of these manufacturers strongly emphasize providing advanced scooters that incorporate the latest technologies that widen the company's product portfolio and maintain dominance in the scooter market. Further, the companies take strategic initiatives, such as regional expansion, acquisition, merger, partnership, and collaboration.

Organic growth remains the key strategy for most of the market's incumbents. As such, electric scooter manufacturers focus on product launching activities in emerging nations. For instance, in April 2022, Bird, an electric scooter manufacturer, launched an e-scooter in Helsinki. The scooter is incorporated with advanced safety features and has an IP68-rated waterproof battery. Moreover, in May 2021, Bird Rides, Inc., introduced a next-generation scooter, “Bird Three,” with enhanced features, such as a diagnostic monitoring system and a longer-range battery in Berlin. Some prominent players in the global scooter market include:

  • Yadea Technology Group Co., Ltd.

  • Ninebot Limited

  • Neutron Holdings, Inc. (Lime)

  • Bird Rides, Inc.

  • Spin

  • Gotrax

  • Segway Inc.

  • Razor USA LLC

  • Uber Technologies Inc. (Jump)

  • OKAI

Scooter Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 70.26 billion

Revenue forecast in 2030

USD 111.37 billion

Growth Rate

CAGR of 5.9% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative Units

Revenue in USD billion, and CAGR from 2022 to 2030

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East; and Africa

Country scope

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

Segments Covered

Product type, electric scooter type, region

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Key companies profiled

Yadea Technology Group Co., Ltd.; Ninebot Limited; Neutron Holdings, Inc.; (Lime); Bird Rides, Inc.; Spin; Gotrax; Segway Inc.; Razor USA LLC; Uber Technologies Inc. (Jump); OKIA

Customization scope

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

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global scooter market report based on product type, electric scooters type, and region:

  • Product Outlook (Revenue, USD Million, 2018 - 2030)

    • Electric Scooter

    • Normal Scooter

  • Electric Scooter Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Conventional Electric Scooter

    • Swappable Electric Scooter

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

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