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Electric Scooter Market Report by Voltage (24 V, 36 V , 48 V, Greater than 48 V), Product (Folding, Standing/Self-Balancing, Retro), Battery Type (Li-ion, Lead Acid, Others), End Use (Personal, Commercial), Countries and Company Analysis 2024- 2032

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    Report

  • 210 Pages
  • May 2024
  • Region: Global
  • Renub Research
  • ID: 5740670
The electric scooter market had a value of US$ 24.67 billion in 2023 and is predicted to attain US$ 50.78 billion by 2032. The market is projected to grow at a compound annual growth rate of 8.35% among 2024 and 2032.

Electric vehicles, together with bikes and scooters, are becoming increasingly popular globally due to improvements in battery technology, environmental effective, and supportive government policies. These vehicles provide efficient, value-added, and eco-friendly transportation for everyday commuters and metropolis dwellers, making them a sizable technique for urban mobility. Electric scooters are emerging as the preferred mode of sustainable city transportation.

China is the largest market for electric scooters, with the highest income and manufacturing hubs. Electric 2 and 3-wheelers are relatively common in China, with about half being battery-powered cars sold. In 2022, China could have about 350 million electric scooters, more than private cars. These scooters are broadly utilized in number one and smaller towns and interior regions of China. India and Southeast Asia are also good-sized markets for electric scooters.

Electric Scooter Market Survey

  • In 2022, approx 470,000 electric vehicles had been offered, with IDTechEx forecasting revenue to pass over 9 million units by 2043.
  • In 2022, the US sold 1.1 million e-scooters, almost 4 times the number in 2019.
  • According to a 2023 Canada government estimate, over 4,000 electric-powered two-wheelers were bought in 2020.
  • In 2023, a total of 678,000 units of E-bikes had been bought in France.
  • 72% of German EV sales in 2023 had been to associated events, along with taxi company GSM Green and Smart Mobility Joint Stock Co.
  • By 2024, China's electric-powered two-wheeler market is expected to have sales of 46.2 million units due to the local transition period for enforcing the electric-wheeler specification and the mandated China Compulsory Certificate (3C) requirements.
  • According to the Vahan portal, 910,930 electric-powered vehicles were bought in 2023-24, as compared to 682,937 units in 2022-23.
  • According to the Micromobility Report in 2023 advised that more than 250,000 electric scooters and personal mobility devices had been bought and used all through Australia.

India Electric Scooter Market

The electric scooter market in India is swiftly growing due to environmental issues, fuel costs, and crowded roads. Electric scooters have turned out to be famous for green city mobility and eco-friendly commuting. The marketplace is growing pretty, especially for medium-pacer models, indicating a shift towards a more environmentally friendly future. In 2023, India sold a total of 15,26,433 electric vehicles across all segments, an increase of 49% YoY. Electric scooters and motorcycles accounted for 857,052 units, or 56.6%, with a solid growth rate of 36%. CY2022 alone contributed to 631,462 of those units.

India Government Initiative in Electric Vehicles

The Indian government brought the National Electric Mobility Mission Plan in 2013 to sell EV adoption and manufacturing in the country. The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) initiative was released as a part of this strategy in 2015 to provide incentives for EV purchase and the development of charging stations. The program has been extended to 2024 with a budget of US$ 1.3 Billion. The FAME II scheme has allotted US$ 122.05 Million in incentives for growing EV charging stations. Currently, 2,877 public charging stations have been established in 68 towns across India, and 1,576 stations will be established over nine expressways and 16 highways. Private players have delivered 3000 charging stations further to those public ones.

Electric Scooter Company Overview

Yadea Technology Group Co. Ltd., Niu Technologies, Mahindra, Vmoto Limited, Amper Vehicles, BMW Motorrad International, Gogoro Inc., Govecs Group, Hero Electric, and Zhejiang Luyuan Electric Vehicle Co. Ltd. are the various leaders within the global electric scooter market.

Electric Scooter Company News

  • In January 2024, Riley Scooter proposed introducing the RS3 Electric Scooter in the U.S. at the Consumers Electronics Show.
  • In February 2024 - Yamaha Motor Co. invested in River, a startup that sells electric scooters in India. The investment is for River's Series B round of funding through third-party allotment.
  • In December 2023 - Gogoro introduced the Gogoro Crossover GX250, an electric scooter made in India. The model is tailored for Indian riders. This is a strategic move for Komatsu to tap into the Indian electric scooter market.
  • In October 2023, TVS Motor plans to launch several new electric vehicle models, including the TVS X.
  • In July 2023, Ola plans an IPO due to the success of its electric scooter sales in India.

Voltage -Market breakup in 4 viewpoints:

1. 24 V
2. 36 V
3. 48 V
4. Greater than 48 V

Product -Market breakup in 3 viewpoints:

1. Folding
2. Standing/Self-Balancing
3. Retro

Battery Type - Market breakup in 3 viewpoints:

1. Li-ion
2. Lead Acid
3. Others

End Use - Market breakup in 2 viewpoints:

1. Personal
2. Commercial

Country - Market breakup of 25 Countries:

1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

  • Overview
  • Recent Development
  • Product Portfolio & Product Launch in Last 1 Year
  • Revenue

Company Analysis:

1. Yadea Technology Group Co. Ltd
2. Niu Technologies
3. Mahendra
4. Vmoto Limited
5. Amper Vehicles
6. BMW Motorrad International
7. Gogoro Inc.
8. Govecs Group
9. Hero Electric
10. Zhejiang Luyuan Electric Vehicle Co Ltd

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Electric Scooter Market
6. Market Share - Global Electric Scooter Market
6.1 Voltage
6.2 Product
6.3 Battery Type
6.4 End Use
6.5 Country
7. Voltage - Global Electric Scooter Market
7.1 24 V
7.1.1 Introduction
7.1.2 Market Size and Forecast, 2018-2032
7.2 36 V
7.2.1 Introduction
7.2.2 Market Size and Forecast, 2018-2032
7.3 48 V
7.3.1 Introduction
7.3.2 Market Size and Forecast, 2018-2032
7.4 Greater than 48 V
7.4.1 Introduction
7.4.2 Market Size and Forecast, 2018-2032
8. Product - Global Electric Scooter Market
8.1 Folding
8.1.1 Introduction
8.1.2 Market Size and Forecast, 2018-2032
8.2 Standing/Self-Balancing
8.2.1 Introduction
8.2.2 Market Size and Forecast, 2018-2032
8.3 Retro
8.3.1 Introduction
8.3.2 Market Size and Forecast, 2018-2032
9. Battery Type - Global Electric Scooter Market
9.1 Li-ion
9.1.1 Introduction
9.1.2 Market Size and Forecast, 2018-2032
9.2 Lead Acid
9.2.1 Introduction
9.2.2 Market Size and Forecast, 2018-2032
9.3 Others
9.3.1 Introduction
9.3.2 Market Size and Forecast, 2018-2032
10. End Use - Global Electric Scooter Market
10.1 Personal
10.1.1 Introduction
10.1.2 Market Size and Forecast, 2018-2032
10.2 Commercial
10.2.1 Introduction
10.2.2 Market Size and Forecast, 2018-2032
11. Country - Global Electric Scooter Market
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Thailand
11.3.6 Malaysia
11.3.7 Indonesia
11.3.8 Australia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 Saudi Arabia
11.5.2 UAE
11.5.3 South Africa
12. Porter’s Five Analysis - Global Electric Scooter Market
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis - Global Electric Scooter Market
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat
14. Company Analysis
14.1 Yadea Technology Group Co. Ltd
14.1.1 Overview
14.1.2 Recent Development
14.1.3 Product Portfolio & Product Launch in Last 1 Year
14.1.4 Revenue
14.2 Niu Technologies
14.2.1 Overview
14.2.2 Recent Development
14.2.3 Product Portfolio & Product Launch in Last 1 Year
14.2.4 Revenue
14.3 Mahindra
14.3.1 Overview
14.3.2 Recent Development
14.3.3 Product Portfolio & Product Launch in Last 1 Year
14.3.4 Revenue
14.4 Vmoto Limited
14.4.1 Overview
14.4.2 Recent Development
14.4.3 Product Portfolio & Product Launch in Last 1 Year
14.4.4 Revenue
14.5 Amper Vehicles
14.5.1 Overview
14.5.2 Recent Development
14.5.3 Product Portfolio & Product Launch in Last 1 Year
14.5.4 Revenue
14.6 BMW Motorrad International
14.6.1 Overview
14.6.2 Recent Development
14.6.3 Product Portfolio & Product Launch in Last 1 Year
14.6.4 Revenue
14.7 Gogoro Inc.
14.7.1 Overview
14.7.2 Recent Development
14.7.3 Product Portfolio & Product Launch in Last 1 Year
14.7.4 Revenue
14.8 Govecs Group
14.8.1 Overview
14.8.2 Recent Development
14.8.3 Product Portfolio & Product Launch in Last 1 Year
14.9 Hero Electric
14.9.1 Overview
14.9.2 Recent Development
14.9.3 Product Portfolio & Product Launch in Last 1 Year
14.10 Zhejiang Luyuan Electric Vehicle Co Ltd
14.10.1 Overview
14.10.2 Recent Development
14.10.3 Product Portfolio & Product Launch in Last 1 Year
List of Tables
Table-01: Global - Electric Scooter Market Share by Voltage (Percent), 2019 - 2023
Table-02: Global - Forecast for Electric Scooter Market Share by Voltage (Percent), 2024 - 2032
Table-03: Global - Electric Scooter Market Share by Product (Percent), 2019 - 2023
Table-04: Global - Forecast for Electric Scooter Market Share by Product (Percent), 2024 - 2032
Table-05: Global - Electric Scooter Market Share by Battery Type (Percent), 2019 - 2023
Table-06: Global - Forecast for Electric Scooter Market Share by Battery Type (Percent), 2024 - 2032
Table-07: Global - Electric Scooter Market Share by End Use (Percent), 2019 - 2023
Table-08: Global - Forecast for Electric Scooter Market Share by End Use (Percent), 2024 - 2032
Table-09: Global - Electric Scooter Market Share by Countries (Percent), 2019 - 2023
Table-10: Global - Forecast for Electric Scooter Market Share by Countries (Percent), 2024 - 2032
List of Figures
Figure-01: Global - Electric Scooter Market (Billion US$), 2019 - 2023
Figure-02: Global - Forecast for Electric Scooter Market (Billion US$), 2024 - 2032
Figure-03: Voltage - 24 V Market (Million US$), 2019 - 2023
Figure-04: Voltage - Forecast for 24 V Market (Million US$), 2024 - 2032
Figure-05: Voltage - 36 V Market (Million US$), 2019 - 2023
Figure-06: Voltage - Forecast for 36 V Market (Million US$), 2024 - 2032
Figure-07: Voltage - 48 V Market (Million US$), 2019 - 2023
Figure-08: Voltage - Forecast for 48 V Market (Million US$), 2024 - 2032
Figure-09: Voltage - Greater than 48 V Market (Million US$), 2019 - 2023
Figure-10: Voltage - Forecast for Greater than 48 V Market (Million US$), 2024 - 2032
Figure-11: Product - Folding Market (Million US$), 2019 - 2023
Figure-12: Product - Forecast for Folding Market (Million US$), 2024 - 2032
Figure-13: Product - Standing/Self-Balancing Market (Million US$), 2019 - 2023
Figure-14: Product - Forecast for Standing/Self-Balancing Market (Million US$), 2024 - 2032
Figure-15: Product - Retro Market (Million US$), 2019 - 2023
Figure-16: Product - Forecast for Retro Market (Million US$), 2024 - 2032
Figure-17: Battery Type - Li-ion Market (Million US$), 2019 - 2023
Figure-18: Battery Type - Forecast for Li-ion Market (Million US$), 2024 - 2032
Figure-19: Battery Type - Lead Acid Market (Million US$), 2019 - 2023
Figure-20: Battery Type - Forecast for Lead Acid Market (Million US$), 2024 - 2032
Figure-21: Battery Type - Others Market (Million US$), 2019 - 2023
Figure-22: Battery Type - Forecast for Others Market (Million US$), 2024 - 2032
Figure-23: End Use - Personal Market (Million US$), 2019 - 2023
Figure-24: End Use - Forecast for Personal Market (Million US$), 2024 - 2032
Figure-25: End Use - Commercial Market (Million US$), 2019 - 2023
Figure-26: End Use - Forecast for Commercial Market (Million US$), 2024 - 2032
Figure-27: United States - Electric Scooter Market (Million US$), 2019 - 2023
Figure-28: United States - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-29: Canada - Electric Scooter Market (Million US$), 2019 - 2023
Figure-30: Canada - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-31: France - Electric Scooter Market (Million US$), 2019 - 2023
Figure-32: France - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-33: Germany - Electric Scooter Market (Million US$), 2019 - 2023
Figure-34: Germany - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-35: Italy - Electric Scooter Market (Million US$), 2019 - 2023
Figure-36: Italy - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-37: Spain - Electric Scooter Market (Million US$), 2019 - 2023
Figure-38: Spain - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-39: United Kingdom - Electric Scooter Market (Million US$), 2019 - 2023
Figure-40: United Kingdom - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-41: Belgium - Electric Scooter Market (Million US$), 2019 - 2023
Figure-42: Belgium - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-43: Netherlands - Electric Scooter Market (Million US$), 2019 - 2023
Figure-44: Netherlands - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-45: Turkey - Electric Scooter Market (Million US$), 2019 - 2023
Figure-46: Turkey - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-47: China - Electric Scooter Market (Million US$), 2019 - 2023
Figure-48: China - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-49: Japan - Electric Scooter Market (Million US$), 2019 - 2023
Figure-50: Japan - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-51: India - Electric Scooter Market (Million US$), 2019 - 2023
Figure-52: India - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-53: South Korea - Electric Scooter Market (Million US$), 2019 - 2023
Figure-54: South Korea - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-55: Thailand - Electric Scooter Market (Million US$), 2019 - 2023
Figure-56: Thailand - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-57: Malaysia - Electric Scooter Market (Million US$), 2019 - 2023
Figure-58: Malaysia - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-59: Indonesia - Electric Scooter Market (Million US$), 2019 - 2023
Figure-60: Indonesia - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-61: Australia - Electric Scooter Market (Million US$), 2019 - 2023
Figure-62: Australia - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-63: New Zealand - Electric Scooter Market (Million US$), 2019 - 2023
Figure-64: New Zealand - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-65: Brazil - Electric Scooter Market (Million US$), 2019 - 2023
Figure-66: Brazil - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-67: Mexico - Electric Scooter Market (Million US$), 2019 - 2023
Figure-68: Mexico - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-69: Argentina - Electric Scooter Market (Million US$), 2019 - 2023
Figure-70: Argentina - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-71: Saudi Arabia - Electric Scooter Market (Million US$), 2019 - 2023
Figure-72: Saudi Arabia - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-73: UAE - Electric Scooter Market (Million US$), 2019 - 2023
Figure-74: UAE - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-75: South Africa - Electric Scooter Market (Million US$), 2019 - 2023
Figure-76: South Africa - Forecast for Electric Scooter Market (Million US$), 2024 - 2032
Figure-77: Yadea Technology Group Co. Ltd - Global Revenue (Million US$), 2019 - 2023
Figure-78: Yadea Technology Group Co. Ltd - Forecast for Global Revenue (Million US$), 2024 - 2032
Figure-79: Niu Technologies - Global Revenue (Million US$), 2019 - 2023
Figure-80: Niu Technologies - Forecast for Global Revenue (Million US$), 2024 - 2032
Figure-81: Mahindra - Global Revenue (Million US$), 2019 - 2023
Figure-82: Mahindra - Forecast for Global Revenue (Million US$), 2024 - 2032
Figure-83: Vmoto Limited - Global Revenue (Million US$), 2019 - 2023
Figure-84: Vmoto Limited - Forecast for Global Revenue (Million US$), 2024 - 2032
Figure-85: Amper Vehicles - Global Revenue (Million US$), 2019 - 2023
Figure-86: Amper Vehicles - Forecast for Global Revenue (Million US$), 2024 - 2032
Figure-87: BMW Motorrad International - Global Revenue (Million US$), 2019 - 2023
Figure-88: BMW Motorrad International - Forecast for Global Revenue (Million US$), 2024 - 2032
Figure-89: Gogoro Inc. - Global Revenue (Million US$), 2019 - 2023
Figure-90: Gogoro Inc. - Forecast for Global Revenue (Million US$), 2024 - 2032

Companies Mentioned

  • Yadea Technology Group Co. Ltd
  • Niu Technologies
  • Mahendra
  • Vmoto Limited
  • Amper Vehicles
  • BMW Motorrad International
  • Gogoro Inc.
  • Govecs Group
  • Hero Electric
  • Zhejiang Luyuan Electric Vehicle Co Ltd

Methodology

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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