Electric Scooters Market Growth Register 7% CAGR to Reach Market Valuation USD 40.37 billion During 2023 to 2030
Research Reports
Mar 20, 2023
Electric Scooters Market Overview
The global electric scooters market is predicted to increase at a compound annual growth rate of 7%. Vehicles that run on electricity are known as e – scooters, and they may be recharged with energy from an outside source of power. The energy collected onboard in a rechargeable may be used to power 1 or even more electric engines, which can propel the vehicle forward.
As a result, electric scooters offer lower running costs than regular ICE cars while maintaining the same level of functionality. Also, because of their simple design, these cars save money on the spark plug, gasoline, and oil filter changes; this results in cheap maintenance expenses. COVID-19 has had a significant effect on the scooter sector since the shutdown of production plants has resulted in a reduction in vehicle output. As a result of the lags in product introductions and marketing and assembly process, the market’s development is also being hampered. Production factories and other enterprises have been temporarily shut down; this has impacted electric scooter sales in many nations.
Key Vendors
- Gogoro Inc. (Taiwan)
- Vmoto Limited (Australia)
- Terra Motors Corporation (Japan)
- Jiangsu Xinri Electric Vehicle Co. Ltd. (China)
- Amego Electric Vehicles Inc. (Canada)
- NYCeWheels (U.S.)
- GOVECS GmbH (Germany)
- Ampere Vehicles Pvt. Ltd. (India)
- Hero Electric Vehicles Pvt. Ltd. (India)
- Mahindra GenZe (U.S.)
- Kumpan Electric (Germany)
- Torrot Group (Spain)
- Ather Energy (India), and Others
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Electric Scooters Market Segmentation
E-Scooters Market Battery Type Outlook
- Sealed Lead Acid
- Li-Ion
- Ni-MH
E-Scooters Market Technology Outlook
- Plug-In
- Battery Operated
E-Scooters Market Voltage Outlook
- 36V
- 24V
- 48V
- More than 48V
Regarding electric scooter motor types, hub motors are predicted to have a significant market proportion in 2021. It is projected that the geared hub motors sector will expand at the greatest CAGR during the projected time frame. The fast expansion of this category is largely due to superior durability and variable speed of gearing hub engines, compact structure, and light; lower compressive losses because heavy gearbox, driveshaft, difference, and axles are not required; provides more flexibility, produces strong torque at low RPMs, and maybe further employed as brakes.
It is expected that corporate organizations will have the greatest proportion of the electric scooter industry by 2021. The huge proportion of this market is largely due to the expanding government aid and assistance to encourage ev adoption worldwide, the rising usage of electric scooters and motorcycles by couriers and e-commerce service workers, and the expanding deployment of transportation. As a result, this category is predicted to increase at the fastest rate throughout the projection period.
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Report Metrics |
Details |
|
Market Size 2021 |
USD 23.5 billion |
|
Market Size 2022 |
USD 25.14 billion |
|
Market Size 2030 |
USD 40.37 billion |
|
Compound Annual Growth Rate (CAGR) |
7.00% (2022-2030) |
Electric Scooters Market Regional Classification
The electric scooter market in the Asia Pacific is predicted to be the biggest. It is predicted that the Asia Pacific electric scooter industry will develop during the forecast timeframe due to increasing demand for inexpensive electric scooters for short-distance travel and China’s large sales volume. In addition, expanding the use of modern technology in China’s electric grid is being fueled by the nation’s tremendous economic growth. Although North America is predicted to have the highest share during the projection period, the United States is likely to be an early user of these cars because of many significant manufacturers.
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Industry News
CUX two-wheeler electric cars were unveiled in May 2019 by Vmoto, a division of Vmoto International Limited, due to a licensing arrangement with Ducati Motor.
One of Sunra’s new electric scooters, Miku Max, is shaped like a seashell and was launched in May of this year. At a peak speed of 45 km/h, this 800 W scooter is more than capable. It can go up to 60 kilometers on a single charge. It also has USB ports for charging.
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