Electric Scooters Market Size To Reach $78.65 Billion By 2030

January 2024 | Report Format: Electronic (PDF)

Electric Scooters Market Growth & Trends

The global electric scooters market size is expected to reach USD 78.65 billion by 2030, registering a CAGR of 9.9% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. Increasing demand for the air combating, fuel-economic high-performance vehicles is expected to fuel the growth of the industry. In addition, a growing number of government initiatives to increase the adoption of EVs, automobile manufacturers’ investment in the development of battery charging infrastructure, and rising disposable income in developing nations are expected to drive the growth further. Moreover, the ease of maneuverability and extensive driving agility of e-scooters are expected to boost their demand.

Key players are focusing on improving quality, enhancing performance, comfort, and safety, and lowering the cost of maintenance. In addition, prominent players are undertaking strategic steps to expand their customer base in the international market. They are focusing on launching a range of e-scooters. For instance, Gogoro, Inc., and KYMCO expanded their reach in other regions to capture the benefit of the untapped market. Furthermore, prominent players, such as GenZe by Mahindra, YAMAHA Motor Pvt. Ltd., Vässla Electric Scooters., and PURE EV, have invested in installing charging systems across various countries and are offering swappable battery systems in their e-scooter variants.

The Asia Pacific region is expected to witness the fastest CAGR over the forecast period due to increasing government focus on replacing the existing fleet with EVs in developing economies, such as China, India, and ASEAN countries. Moreover, government and e-scooter manufacturers are investing in developing the public charging infrastructure, which will encourage consumers to shift to e-scooters over their counterparts. The governments in European countries have been providing subsidies to drive the sales of battery-powered two-wheelers. These initiatives are anticipated to become more robust with increasing gasoline prices.

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Electric Scooters Market Report Highlights

  • The personal end-use segment is expected to register the fastest growth rate from 2023 to 2030. This growth can be attributed to significant demand for e-scooters

  • Based on battery, the lithium-ion segment dominated the industry in 2022 due to benefits, such as low cost and robustness

  • Asia Pacific is expected to be the largest as well as the fastest-growing regional market during the forecast period

  • This is owing to significant investments in vehicle charging infrastructure and government subsidies for battery-powered scooters

Electric Scooters Market Segmentation

Grand View Research has segmented the global electric scooters market based on drive, battery, product, battery fitting, end-use, and region:

Electric Scooters Drive Outlook (Revenue, USD Million, 2018 - 2030)

  • Belt Drive

  • Chain Drive

  • Hub Motors

Electric Scooters Battery Outlook (Revenue, USD Million, 2018 - 2030)

  • Lead Acid

  • Li-Ion

  • Other

Electric Scooters Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Standard

  • Folding

  • Self-Balancing

  • Maxi

  • Three wheeled

Electric Scooters Battery Fitting Outlook (Revenue, USD Million, 2018 - 2030)

  • Detachable

  • Fixed

Electric Scooters End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Personal

  • Commercial

Electric Scooters Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

List of Key Players of the Electric Scooters Market

  • 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

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