Electric Scooter Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Electric Scooter Market

The global Electric Scooter market size is estimated to be worth US$ 5703.5 million in 2022 and is forecast to a readjusted size of US$ 7384.9 million by 2028 with a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. Key drivers of the electric scooter market include a strong government push towards the adoption of e-scooters and stringent regulations for curbing carbon footprints.

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Moreover, the increase in penetration of scooter-sharing services across various countries and several benefits in the form of low operation, maintenance costs, etc leading to widescale adoption are propelling the growth of the market.

Further, rising urbanization, congestion, and urban mobility problems are all accelerating the need for electric scooters for time savings and convenient means of transportation ultimately spurring the demand of the electric scooter market during the forecast period.

Strong government push and stringent regulations for curbing carbon emissions

Government bodies in various countries are adopting stringent rules and regulations to curb rising carbon emissions and to protect the environment. Several monetary, non-monetary incentives, tax rebates, and subsidies are being given to both consumers and manufacturers to increase the penetration of electric scooters and stop the production of conventional ICE two-wheelers. Moreover, rapid developments in charging infrastructure and the rise of advanced technologies such as solar-powered vehicles and grids for reducing electric consumption are also contributing towards seamless transition ultimately driving the growth of the electric scooter market during the forecast period.

Increase in scooter-sharing services and various economic benefits

Electric scooters play an important role in curbing vehicular emissions and help protect the environment. People around the world are increasingly availing electric-scooter sharing services due to them being eco-friendly, cheap, and convenient modes of transportation. Moreover with easy booking and availability through ride-sharing apps, riders are able to use them for short distances without the hassle of owning them. Further, in comparison to petrol-driven two-wheelers, the operating costs of electric scooters are lower and due to fewer moving parts, the maintenance of e-scooters is easy leading to increasing adoption. Thus increase in scooter-sharing services and a number of economic benefits offered are expected to drive the growth of the electric scooter market during the forecast period.

Rising urbanization and the need to reinvent urban mobility systems

Rapid urbanization, high population density, and the growing need to control emissions are forcing city planning authorities to develop urban mobility systems that support sustainable modes of transportation. Electric vehicles have emerged as an eco-friendly alternative for driving the change but cars lead to congestion problems thereby driving the demand for electric scooters. These scooters are convenient and lead to time savings with respect to commuting. Thus growing urbanization and sustainability benefits are boosting the sales of e-scooters ultimately driving the growth of the electric scooter market during the forecast period. Moreover, companies are rapidly investing in R&D initiatives to improve the transport infrastructure, battery technology for energy savings and create more efficient variants of scooters which is also driving the market growth.

Electric Scooter Market Share Analysis

Based on type, the electric retro scooter is expected to provide lucrative opportunities for growth in the electric scooter market share due to the shift towards eco-friendly vehicles for commuting over short distances, reduced transportation, and operation costs.

Based on region, the Asia-pacific segment is expected to provide lucrative opportunities for growth in the electric scooter market share during the forecast period due to large production, sales volume, increasing demand for affordable electric scooters, and favorable government policies.

The global key manufacturers of Electric Scooter include AIMA, Yadea, Lvyuan, Lima, Birdie Electric, Lvneng, Opai, Sinski and Aucma, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

In terms of production side, this report researches the Electric Scooter capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.

In terms of sales side, this report focuses on the sales of Electric Scooters by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.

Electric Scooter Market by Type
• Two-wheel
• Three-wheel

Electric Scooter Market by Application
• Electric Retro Scooter
• Electric Kick Scooter

Major Players in the Electric Scooter Market
• AIMA
• Yadea
• Lvyuan
• Lima
• Birdie Electric
• Lvneng
• Opai
• Sinski
• Aucma
• Sunra
• Byvin
• Lvjia
• Xiaodao Ebike
• Gamma
• Bodo
• Tailing
• Supaq
• Incalcu
• Slane
• Razor
• Yamaha

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