Press release
Global Electric Scooter Market Set to Double by 2030 Amidst Rising Fuel Prices and Urbanization
The global electric scooter market, valued at USD 36.52 billion in 2023, is projected to grow at a Compound Annual Growth Rate (CAGR) of 10%, reaching approximately USD 71.17 billion by 2030.
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► Market Overview
Electric scooters, powered by electric motors and typically featuring a standing deck and handlebars, have emerged as a popular, eco-friendly alternative for urban transportation. The market's growth is driven by increasing fuel prices, urbanization, and advancements in battery technology. The Asia-Pacific region is anticipated to dominate the market during the forecast period, supported by government initiatives promoting electric vehicles and a rising consumer preference for sustainable transportation options.
► Competitive Landscape
Key players in the electric scooter market include Bird Rides, Inc., Razor, Segway-Ninebot, and Unagi. These companies are focusing on product innovations, strategic partnerships, and expanding their geographic presence to strengthen their market positions.
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► Regional Demand
The Asia-Pacific region is expected to witness significant growth, attributed to supportive government policies and increasing consumer awareness regarding environmental sustainability. North America and Europe are also experiencing a surge in demand, driven by urbanization and the adoption of micro-mobility solutions.
► Mergers and Acquisitions
The electric scooter industry has seen strategic mergers and acquisitions aimed at enhancing product portfolios and expanding market reach:
Vietnam: Emerging Opportunities in Electric Mobility
Vietnam's growing urban population and government initiatives to reduce carbon emissions present significant opportunities for electric scooter manufacturers and service providers.
Thailand: Growth Through Infrastructure Development
Thailand's investments in urban infrastructure and smart city projects are creating a conducive environment for the adoption of electric scooters as a sustainable mode of transportation.
Japan: Trends in Technological Innovation
Japanese companies are leveraging advancements in battery technology and IoT to develop innovative electric scooter models, catering to the tech-savvy consumer base.
South Korea: Consolidation in the Micro-Mobility Sector
South Korea's micro-mobility sector is witnessing consolidation, with companies aiming to strengthen their market positions and expand their service offerings in electric scooters.
Singapore: Opportunities in Sustainable Urban Transport
Singapore's commitment to sustainable urban transport solutions is driving the adoption of electric scooters, supported by government policies and infrastructure development.
United States: Expansion of Shared Mobility Services
In the United States, companies like Bird Rides, Inc. and Lime are expanding their shared electric scooter services, contributing to the growing acceptance of micro-mobility solutions.
China: Trends Toward Electric Vehicle Adoption
China's emphasis on electric vehicle adoption, supported by government incentives and a robust manufacturing ecosystem, is propelling the growth of the electric scooter market.
Europe: Market Consolidation via Strategic Partnerships
European companies are engaging in strategic partnerships and acquisitions to consolidate their positions in the electric scooter market, aiming to enhance their technological capabilities and expand their market presence.
► Key Recent Developments
Yadea Group Holdings Ltd. announced plans to expand its production capacity to meet the increasing global demand for electric scooters.
Segway-Ninebot introduced a new line of electric scooters featuring enhanced battery life and smart connectivity options
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► Electric Scooters Market Classifications
by Drive
Belt Drive
Chain Drive
Hub Motors
by Battery
Lead Acid
Li-Ion
Other
by Product
Standard
Folding
Self-Balancing
Maxi
Three wheeled
by Battery
Fitting Detachable
Fixed
by End User
Personal
Commercial
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/electric-scooters-market/12979/
► The following companies are included in the market for Electric Scooters :
1. Apollo
2. Lime
3. Bird Rides, Inc
4. Razor
5. Segway-Ninebot
6. Unagi
7. Super73
8. Hero Electric
9. TVS Motor Company
10. Ather Energy
11. GenZe
12. Vmoto Limited (Australia)
13. Emflux Motors (India)
14. NIU Technologies
15. Yadea Group Holdings Ltd.
16. Okinawa Autotech Pvt. Ltd
17. Vespa
18. Revolt Intellicorp Pvt. Ltd
19. Askoll EVA
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