Global Electric Scooter Market, By Product Type (Retro, Standing/Self Balancing, Folding), By Battery Type (Sealed Lead Acid, NiMh, Li-Ion), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)Trend Anal
Description
Global Electric Scooter Market, By Product Type (Retro, Standing/Self Balancing, Folding), By Battery Type (Sealed Lead Acid, NiMh, Li-Ion), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)Trend Analysis, Competitive Market Share & Forecast, 2018-2028
Electric Scooter Market to Grow at a Staggering CAGR of 23% until 2028
Increasing focus on carbon emissions and sustainability are driving the global electric scooter market. Additionally, favorable government initiatives and private-public investments in strengthening charging infrastructure is expected to positively influence the market…
A recent study conducted by strategic consulting and market research firm BlueWeave Consulting revealed that the global electric scooter market is estimated to grow at a CAGR of 23% during 2022-2028. Anticipated growth in the market can be attributed to the increasing focus on carbon emissions and sustainability, which is prompting citizens to shift towards electric mobility. Additionally, favorable government initiatives and private-public investments in the establishment of new charging points at frequent locations are anticipated to present lucrative growth opportunities to the electric scooter market in the forecast period.
Launch of New and Innovative Products Driving the Electric Scooter Market
With the increasing demand for electric scooters and rising competitiveness among market players, the companies are constantly launching new products to attract buyers. They are also significantly investing in R&D activities to innovate electric scooters and gain a competitive edge in the market. For instance, Honda recently revealed its ultra-affordable electric scooter called the ‘U-Go’ for the Chinese market and is marketed towards urban riding. It has a range of 65 kms, and with the addition of a second battery, its range can be extended to 130 kms.
Favorable Government Initiatives Propelling the Growth of the Global Electric Scooter Market
The governments of various countries are taking several initiatives to boost the adoption of electric scooters among the masses. These initiatives and incentives include purchase rebates, tax exemptions, and tax credits, along with additional perks, such as access to bus lanes, etc. Moreover, initiatives such as the pledge towards Net Zero Emission by the next few decades by several countries, including Sweden, France, Denmark, New Zealand, etc., are also projected to influence the growth of the global electric scooter market during the forecast period.
Global Electric Scooter Market - By Product Type
Based on product types, the global electric scooter market is segmented into retro, standing/self-balancing, and folding. The retro segment holds the largest market share as they are considered most suitable for commuting shorter distances. In addition, the low procurement and maintenance costs involved with retro electric scooters are attracting a large number of young and working adults, which is expected to spur the market growth in the forecast period. On the other hand, the folding electric scooter is also growing at a substantial rate and will likely dominate the market during the forecast period.
Global Electric Scooter Market - Regional Insights
Geographically, the global electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these, Europe dominates the global electric scooter market, followed by North America. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. Certain emerging economies, such as China, India, Japan, etc., are among the most potential markets for electric scooters. Furthermore, various leading companies, such as Xiaomi are entering the global electric scooter market by launching their exclusive products. Other players, such as Ather Energy, Hero Electric Optima of India are also constantly launching their products at competitive prices, which is anticipated to boost the overall market growth in the forecast period.
Impact of COVID-19 on the Global Electric Scooter Market
The unprecedented COVID-19 pandemic tremendously halted the growth of the global electric scooter market. Non-essential economic activities, including automotive production and manufacturing activities were suspended due to the coronavirus-induced lockdown. The electric scooter OEMs also had to temporarily pause their production. Furthermore, the restriction on the global distribution and supply chains, as well as mobility to prevent virus spread directly impacted the sales of the electric scooter, incurring huge losses to the market. Despite the slow recovery, the electric scooter market is expected to grow during the forecast period due to a shortage of components in the market.
Competitive Landscape
The leading players in the electric scooter market are Ather Energy Pvt. Ltd., Hero Electric Optima, Bird, Neutron Holdings, Inc., 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, Peugeot Scooters, Suzuki Motor Corporation, Terra Motors Corporation, Vmoto Limited, Yamaha Motor Company Ltd., and other prominent players.
The market is highly fragmented with the presence of several multinational corporations as well as micro-mobility startups. The regional startups are also giving tough competition to the established players in terms of their offerings. Furthermore, the companies are focusing on expanding their target market and moving beyond geographical boundaries, because of which they are launching their products in different countries. Last but not least, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Electric Scooter Market to Grow at a Staggering CAGR of 23% until 2028
Increasing focus on carbon emissions and sustainability are driving the global electric scooter market. Additionally, favorable government initiatives and private-public investments in strengthening charging infrastructure is expected to positively influence the market…
A recent study conducted by strategic consulting and market research firm BlueWeave Consulting revealed that the global electric scooter market is estimated to grow at a CAGR of 23% during 2022-2028. Anticipated growth in the market can be attributed to the increasing focus on carbon emissions and sustainability, which is prompting citizens to shift towards electric mobility. Additionally, favorable government initiatives and private-public investments in the establishment of new charging points at frequent locations are anticipated to present lucrative growth opportunities to the electric scooter market in the forecast period.
Launch of New and Innovative Products Driving the Electric Scooter Market
With the increasing demand for electric scooters and rising competitiveness among market players, the companies are constantly launching new products to attract buyers. They are also significantly investing in R&D activities to innovate electric scooters and gain a competitive edge in the market. For instance, Honda recently revealed its ultra-affordable electric scooter called the ‘U-Go’ for the Chinese market and is marketed towards urban riding. It has a range of 65 kms, and with the addition of a second battery, its range can be extended to 130 kms.
Favorable Government Initiatives Propelling the Growth of the Global Electric Scooter Market
The governments of various countries are taking several initiatives to boost the adoption of electric scooters among the masses. These initiatives and incentives include purchase rebates, tax exemptions, and tax credits, along with additional perks, such as access to bus lanes, etc. Moreover, initiatives such as the pledge towards Net Zero Emission by the next few decades by several countries, including Sweden, France, Denmark, New Zealand, etc., are also projected to influence the growth of the global electric scooter market during the forecast period.
Global Electric Scooter Market - By Product Type
Based on product types, the global electric scooter market is segmented into retro, standing/self-balancing, and folding. The retro segment holds the largest market share as they are considered most suitable for commuting shorter distances. In addition, the low procurement and maintenance costs involved with retro electric scooters are attracting a large number of young and working adults, which is expected to spur the market growth in the forecast period. On the other hand, the folding electric scooter is also growing at a substantial rate and will likely dominate the market during the forecast period.
Global Electric Scooter Market - Regional Insights
Geographically, the global electric scooter market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these, Europe dominates the global electric scooter market, followed by North America. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. Certain emerging economies, such as China, India, Japan, etc., are among the most potential markets for electric scooters. Furthermore, various leading companies, such as Xiaomi are entering the global electric scooter market by launching their exclusive products. Other players, such as Ather Energy, Hero Electric Optima of India are also constantly launching their products at competitive prices, which is anticipated to boost the overall market growth in the forecast period.
Impact of COVID-19 on the Global Electric Scooter Market
The unprecedented COVID-19 pandemic tremendously halted the growth of the global electric scooter market. Non-essential economic activities, including automotive production and manufacturing activities were suspended due to the coronavirus-induced lockdown. The electric scooter OEMs also had to temporarily pause their production. Furthermore, the restriction on the global distribution and supply chains, as well as mobility to prevent virus spread directly impacted the sales of the electric scooter, incurring huge losses to the market. Despite the slow recovery, the electric scooter market is expected to grow during the forecast period due to a shortage of components in the market.
Competitive Landscape
The leading players in the electric scooter market are Ather Energy Pvt. Ltd., Hero Electric Optima, Bird, Neutron Holdings, Inc., 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, Peugeot Scooters, Suzuki Motor Corporation, Terra Motors Corporation, Vmoto Limited, Yamaha Motor Company Ltd., and other prominent players.
The market is highly fragmented with the presence of several multinational corporations as well as micro-mobility startups. The regional startups are also giving tough competition to the established players in terms of their offerings. Furthermore, the companies are focusing on expanding their target market and moving beyond geographical boundaries, because of which they are launching their products in different countries. Last but not least, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Table of Contents
192 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Key Market Segments
- 2. Research Methodology
- 2.1. Qualitative Research
- 2.2. Methodology
- 2.3. Regional Split of Primary & Secondary Research
- 2.4. Secondary Research
- 2.5. Primary Research
- 2.5.1. Breakdown of Primary Research Respondents, By Region
- 2.5.2. Breakdown of Primary Research Respondents, By Industry Participants
- 2.6. Market Size Estimation
- 2.7. Assumptions for the Study
- 2.8. Market Breakdown & Data Triangulation
- 3. Executive Summary
- 4. Industry Insight and Growth Strategy
- 4.1. Value Chain Analysis
- 4.2. DROC Analysis
- 4.2.1. Market Drivers
- 4.2.1.1. Increasing Consciousness Towards Environment and Sustainability
- 4.2.1.2. Establishment of New Charging Points
- 4.2.2. Market Restraints
- 4.2.2.1. Lack of Charging Infrastructure
- 4.2.3. Market Challenges
- 4.2.3.1. Negative Impact of the COVID-19 Pandemic Outbreak
- 4.2.4. Market Opportunity
- 4.2.4.1. Launch of New and Innovative Products
- 4.2.4.2. Favorable Government Initiatives and Incentives
- 4.3. Recent Developments
- 4.4. Porter’s Five Forces Analysis
- 4.4.1. Bargaining Power of Buyers
- 4.4.2. Bargaining Power of Suppliers
- 4.4.3. Intensity of Rivalry
- 4.4.4. Threat of New Entrants
- 4.4.5. Threat of Substitutes
- 5. Electric Scooter Market Overview
- 5.1. Market Size & Forecast by Value, 2018-2028
- 5.2. Market Size and Forecast, By Segment
- 5.2.1. By Product Type
- 5.2.1.1. Retro
- 5.2.1.2. Standing/Self Balancing
- 5.2.1.3. Folding
- 5.2.2. By Battery Type
- 5.2.2.1. Sealed Lead Acid
- 5.2.2.2. NiMh
- 5.2.2.3. Li-Ion
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia-Pacific
- 5.2.3.4. Latin America
- 5.2.3.5. Middle East & Africa
- 6. North America Electric Scooter Market Overview
- 6.1. Market Size and Forecast
- 6.1.1. By Value (USD Million), 2018-2028
- 6.2. Market Share and Forecast
- 6.2.1. By Product Type
- 6.2.2. By Battery Type
- 6.2.3. By Country
- 6.2.3.1. U.S.
- 6.2.3.2. Canada
- 7. Europe Electric Scooter Market Overview
- 7.1. Market Size and Forecast
- 7.1.1. By Value (USD Million), 2018-2028
- 7.2. Market Share and Forecast
- 7.2.1. By Product Type
- 7.2.2. By Battery Type
- 7.2.3. By Country
- 7.2.3.1. Germany
- 7.2.3.2. U.K.
- 7.2.3.3. Russia
- 7.2.3.4. France
- 7.2.3.5. Italy
- 7.2.3.6. Spain
- 7.2.3.7. Rest of Europe
- 8. APAC Electric Scooter Market Overview
- 8.1. Market Size and Forecast
- 8.1.1. By Value (USD Million), 2018-2028
- 8.2. Market Share and Forecast
- 8.2.1. By Product Type
- 8.2.2. By Battery Type
- 8.2.3. By Country
- 8.2.3.1. China
- 8.2.3.2. India
- 8.2.3.3. Japan
- 8.2.3.4. South Korea
- 8.2.3.5. Rest of APAC
- 9. LATAM Electric Scooter Market Overview
- 9.1. Market Size and Forecast
- 9.1.1. By Value (USD Million), 2018-2028
- 9.2. Market Share and Forecast
- 9.2.1. By Product Type
- 9.2.2. By Battery Type
- 9.2.3. By Country
- 9.2.3.1. Mexico
- 9.2.3.2. Brazil
- 9.2.3.3. Rest of LATAM
- 10. MEA Electric Scooter Market Overview
- 10.1. Market Size and Forecast
- 10.1.1. By Value (USD Million), 2018-2028
- 10.2. Market Share and Forecast
- 10.2.1. By Product Type
- 10.2.2. By Battery Type
- 10.2.3. By Country
- 10.2.3.1. Saudi Arabia
- 10.2.3.2. UAE
- 10.2.3.3. South Africa
- 10.2.3.4. Rest of MEA
- 11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. Market Share Analysis (2021)
- 11.3. Competitive Benchmarking by Operating Parameters
- 12. Impact of COVID-19 on Electric Scooter Market
- 13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- 13.1. Ather Energy Pvt. Ltd.
- 13.2. Hero Electric Optima
- 13.3. Bird
- 13.4. Neutron Holdings, Inc.
- 13.5. AllCell Technologies LLC
- 13.6. BMW Motorrad International
- 13.7. BOXX Corp.
- 13.8. Gogoro, Inc.
- 13.9. Green Energy Motors Corp.
- 13.10. Greenwit Technologies Inc.
- 13.11. Honda Motor Co. Ltd.
- 13.12. Jiangsu Xinri E-Vehicle Co., Ltd.
- 13.13. KTM AG
- 13.14. Mahindra GenZe
- 13.15. Peugeot Scooters
- 13.16. Suzuki Motor Corporation
- 13.17. Terra Motors Corporation
- 13.18. Vmoto Limited
- 13.19. Yamaha Motor Company Ltd.
- 13.20. Other Prominent Players
- 14. Key Strategic Recommendations
- List of Figures
- Figure 1: Electric Scooter Market Segmentation
- Figure 2: Electric Scooter Market Value Chain Analysis,
- Figure 3: Company Market Share Analysis, 2021
- Figure 4: Electric Scooter Market Size, By Value (USD Million), 2018-2028
- Figure 5: Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
- Figure 6: Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
- Figure 7: Electric Scooter Market Share (%), By Region, By Value, 2018-2028
- Figure 8: North America Electric Scooter Market Size, By Value (USD Million), 2018-2028
- Figure 9: North America Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
- Figure 10: North America Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
- Figure 11: North America Electric Scooter Market Share (%), By Country, By Value, 2018-2028
- Figure 12: Europe Electric Scooter Market Size, By Value (USD Million), 2018-2028
- Figure 13: Europe Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
- Figure 14: Europe Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
- Figure 15: Europe Electric Scooter Market Share (%), By Country, By Value, 2018-2028
- Figure 16: Asia-Pacific Electric Scooter Market Size, By Value (USD Million), 2018-2028
- Figure 17: Asia-Pacific Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
- Figure 18: Asia-Pacific Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
- Figure 19: Asia-Pacific Electric Scooter Market Share (%), By Country, By Value, 2018-2028
- Figure 20: Latin America Electric Scooter Market Size, By Value (USD Million), 2018-2028
- Figure 21: Latin America Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
- Figure 22: Latin America Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
- Figure 23: Latin America Electric Scooter Market Share (%), By Country, By Value, 2018-2028
- Figure 24: Middle East & Africa Electric Scooter Market Size, By Value (USD Million), 2018-2028
- Figure 25: Middle East & Africa Electric Scooter Market Share (%), By Product Type, By Value, 2018-2028
- Figure 26: Middle East & Africa Electric Scooter Market Share (%), By Battery Type, By Value, 2018-2028
- Figure 27: Middle East & Africa Electric Scooter Market Share (%), By Region, By Value, 2018-2028
- List of Tables
- Table 1: Electric Scooter Market Size, By Product Type, By Value, 2018-2028
- Table 2: Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
- Table 3: Electric Scooter Market Size, By Region, By Value (USD Million), 2018-2028
- Table 4: North America Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 5: North America Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
- Table 6: North America Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
- Table 7: Europe Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 8: Europe Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
- Table 9: Europe Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
- Table 10: Asia-Pacific Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 11: Asia-Pacific Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
- Table 12: Asia-Pacific Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
- Table 13: Latin America Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 14: Latin America Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
- Table 15: Latin America Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
- Table 16: The Middle-East & Africa Electric Scooter Market Size, By Product Type, By Value (USD Million), 2018-2028
- Table 17: The Middle-East & Africa Electric Scooter Market Size, By Battery Type, By Value (USD Million), 2018-2028
- Table 18: The Middle-East & Africa Electric Scooter Market Size, By Country, By Value (USD Million), 2018-2028
- Table 19: Ather Energy Pvt. Ltd. Financial Analysis
- Table 20: Ather Energy Pvt. Ltd. Business Overview
- Table 21: Hero Electric Optima Financial Analysis
- Table 22: Hero Electric Optima Business Overview
- Table 23: Bird Corporation Financial Analysis
- Table 24: Bird Corporation Business Overview
- Table 25: Neutron Holdings, Inc. Financial Analysis
- Table 26: Neutron Holdings, Inc. Business Overview
- Table 27: AllCell Technologies LLC Financial Analysis
- Table 28: AllCell Technologies LLC Business Overview
- Table 29: BMW Motorrad International Financial Analysis
- Table 30: BMW Motorrad International Business Overview
- Table 31: BOXX Corp. Financial Analysis
- Table 32: BOXX Corp. Business Overview
- Table 33: Gogoro, Inc. Financial Analysis
- Table 34: Gogoro, Inc. Business Overview
- Table 35: Green Energy Motors Corp. Financial Analysis
- Table 36: Green Energy Motors Corp. Business Overview
- Table 37: Greenwit Technologies Inc. Financial Analysis
- Table 38: Greenwit Technologies Inc. Business Overview
- Table 39: Honda Motor Co. Ltd. Financial Analysis
- Table 40: Honda Motor Co. Ltd. Financial Analysis
- Table 41: Jiangsu Xinri E-Vehicle Co., Ltd. Financial Analysis
- Table 42: Jiangsu Xinri E-Vehicle Co., Ltd. Financial Analysis
- Table 43: KTM AG Financial Analysis
- Table 44: KTM AG Financial Analysis
- Table 45: Mahindra GenZe Financial Analysis
- Table 46: Mahindra GenZe Financial Analysis
- Table 47: Peugeot Scooters Financial Analysis
- Table 48: Peugeot Scooters Financial Analysis
- Table 49: Suzuki Motor Corporation Financial Analysis
- Table 50: Suzuki Motor Corporation Financial Analysis
- Table 51: Terra Motors Corporation Financial Analysis
- Table 52: Terra Motors Corporation Financial Analysis
- Table 53: Vmoto Limited Financial Analysis
- Table 54: Vmoto Limited Financial Analysis
- Table 55: Yamaha Motor Company Ltd. Financial Analysis
- Table 56: Yamaha Motor Company Ltd. Financial Analysis
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