DUBLIN, March 14, 2024 /PRNewswire/ — The “Global Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-Kick scooters & Bikes, Electric Mopeds), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End-user, and Geography – Forecast to 2031” report has been added to ResearchAndMarkets.com’s offering.
The global electric Scooter market is projected to reach $408.1 billion by 2031, at a CAGR of 21.6% from 2024-2031. By volume, this market is expected to reach 298.5 million units by 2031 at a CAGR of 18.1% during the forecast period 2024 to 2031.
The growth of the global electric scooters market is driven by the increasing localization of electric scooter manufacturing in emerging economies, the increasing consumer acceptance of electric two-wheelers compared to ICE two-wheelers, and the rising inclination of developed economies toward electric-powered two-wheelers.
However, the growing reliability issues among consumers due to increasing incidents of accidents involving electric two-wheelers and inadequate investment by legacy two-wheeler manufacturers toward electric scooters restrain the growth of this market. The rise in government initiatives to mitigate traffic congestion and pollution is expected to generate market growth opportunities. However, the lack of charging infrastructure poses a major challenge for the market’s growth.
The market in North America is projected to register the highest growth rate during the forecast period. The growth of this regional market can be attributed to rapid urbanization, increasing environmental consciousness, and the need for flexible and sustainable transportation options. Cities across the U.S. and Canada have embraced electric scooters as a viable solution to address the challenges of traffic congestion and the last-mile commute.
The electric motorcycles segment is projected to register the highest CAGR during the forecast period. The growth of this segment is attributed to increasing government policies aimed at promoting electric mobility, growing awareness regarding the need to reduce greenhouse gas emissions and environmental pollution, rising demand for electric motorcycles among consumers, increasing gasoline prices, and stringent emission norms.
The 3.6 kW to 7.2 kW segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing adoption of electric scooters in emerging economies, favorable incentives and tax benefits, and increasing initiatives by key players in the electric two-wheeler segment.
The lithium-ion polymer battery segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the rising adoption of lithium-ion polymer batteries due to their superior performance. These batteries provide a higher power-to-weight ratio, faster charging capabilities, and increased cycle life compared to traditional lithium-ion batteries, contributing to enhanced efficiency and range for electric two-wheelers.
The hub motors segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to government initiatives aimed at promoting the adoption of electric vehicles and the growing adoption of electric two-wheelers.
The business organizations segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to government initiatives aimed at promoting EV adoption and reducing road congestion.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of vehicle type, power output, battery technology, motor type, charging type, end user, and geography?
- What is the historical market size for electric scooters market across the globe?
- What are the market forecasts and estimates for the period 2024-2031?
- What are the major drivers, restraints, opportunities, and challenges in the global electric scooters market?
- Who are the major players in the market, and what are their market shares?
- How is the competitive landscape for the global electric scooters market?
- What are the recent developments in the global electric scooters market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the global electric scooters market, and how do they compete with other players?
Market Insights
- Increasing Localization of Electric Scooter Manufacturing in Emerging Economies to Support Market Growth
- Increasing Consumer Acceptance of Electric Two-Wheelers Compared to Ice Two-Wheelers
- Rising Inclination of Developed Economies Toward Electric-Powered Two-Wheelers
- Inadequate Investment by Legacy Two-Wheeler Manufacturers Toward Electric Scooter
- Reliability Issues Among Consumers Arise with Increasing Incidents of Accidents Involving Electric Two-Wheelers
- Rise in Government Initiatives to Mitigate Traffic Congestion and Pollution Provide Growth Opportunities for Electric Two-Wheelers
- Lack of Charging Infrastructure Poses a Significant Challenge for ETW Players
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
Key Market Players of The Global Electric Scooter Market
- Yamaha Motor Co., Ltd.
- Yadea Group Holdings Ltd.
- Niu Technologies
- Hero MotoCorp Ltd.
- Energica Motor Company S.P.A.
- Fuji-Ta Bicycle Co., Ltd.
- Riese & Muller GmbH
- Zero Motorcycles, Inc.
- Gogoro Inc.
- Magnum Bikes
Other Market Players
- Leon Cycle Ltd.
- Aventon Bikes
- Govecs AG
- Walberg Urban Electrics GmbH
- Zhejiang Minimotors Bike Co., Ltd.
- Mystromer AG
- Pedego Electric Bikes
- Rad Power Bikes Inc.
- Ather Energy Pvt. Ltd.
- Revolt Motors
- Trek Bicycle Corporation
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Ranking by The Key Players
- Market Differentiators
- Vanguards
- Emerging Companies
Scope:
Global Electric Scooters Market – by Vehicle Type
- E-Kick Scooters & Bikes
- Electric Motorcycles
- Electric Mopeds
Global Electric Scooters Market – by Power Output
- Less Than 3.6 kW
- 3.6 Kw to 7.2 kW
- 20 Kw to 100 kW
Global Electric Scooters Market – by Battery Technology
- Lithium-ion Battery
- Sealed Lead-Acid Battery
- Lithium-Ion Polymer Battery
Global Electric Scooters Market – by Motor Type
- Hub Motors
- Mid-Drive Motors
Global Electric Scooters Market – by Charging Type
- Connector Charging
- Wireless Charging
Global Electric Scooters Market – by End User
- Business Organizations
- Micromobility Service Providers
- Individuals
- Academic Institutes/Universities
- Government Institutions
- Other End Users
Global Electric Scooters Market Assessment – by Geography
- Asia-Pacific
- Europe
- North America
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/866ys8
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SOURCE Research and Markets
