Press release
Foldable Electric Scooter Market on Path to Hit $1.8 Billion by 2029 at 7.6% CAGR
Foldable Electric Scooter
Foldable Electric Scooter Market Outlook: What Size And CAGR Are Anticipated By 2025?
Over the past few years, the foldable electric scooter market has seen robust growth. The market, valued at $1.25 billion in 2024, is projected to increase to $1.35 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. This significant growth during the historical period can be credited to shifts in consumer lifestyles, tourism and recreational activities, inventive marketing and branding strategies, the surge in urban delivery services, and synergy with public transit.
What Is the Expected CAGR for the Foldable Electric Scooter Market Growth Through 2029?
Expectations are high for the foldable electric scooter market in the upcoming years, with predictions of significant growth. It's projected that this market will reach a value of $1.8 billion by 2029, increasing at a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this promising growth forecast include the portability and convenience of these scooters, increased investment and funding, brand familiarity and marketing efforts, affordability, and heightened environmental consciousness. Future trends likely to shape the market include the implementation of artificial intelligence (AI) and Internet of Things (IoT), the use of environmentally friendly materials and manufacturing processes, advancements in urban infrastructure, the growth of rental and sharing services, and the expected economic recovery driving sales.
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What Are the Primary Drivers Behind Foldable Electric Scooter Market Growth?
As concerns about the environment escalate, the foldable electric scooter market is predicted to surge. This growth is driven by mounting problems such as pollution and climate change. Foldable electric scooters present a greener and more sustainable means of transportation. These scooters do not emit harmful pollutants or greenhouse gases, thereby contributing to better air quality and a reduced carbon footprint. Thus, this reduces dependency on fossil fuels and encourages the use of clean, renewable energy. For instance, as per the World Health Organization's report of September 2022, a Switzerland-based intergovernmental organization, 99% of the world's population inhales polluted air, leading to 7 million premature deaths per year. Hence, the ongoing environmental crisis is spurring the growth of the foldable electric scooter market.
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What Are the Key Segments Driving Foldable Electric Scooter Market Growth?
The foldable electric scooter market covered in this report is segmented -
1) By Type: Maximum Load Below 200 Pounds, Maximum Load 200-250 Pounds
2) By Battery Type: Sealed Lead Acid Battery, Lithium-Ion Battery
3) By Voltage: 24V, 36V, 48V, Above 48V
4) By End-User: Children, Adult
Subsegments:
1) By Maximum Load Below 200 Pounds: Standard Foldable Electric Scooters, Lightweight Foldable Electric Scooters, Compact Foldable Electric Scooters
2) By Maximum Load 200-250 Pounds: Heavy-Duty Foldable Electric Scooters, High-Capacity Foldable Electric Scooters, Performance-Focused Foldable Electric Scooters
What Are the Technological Trends Impacting the Foldable Electric Scooter Market?
Leading businesses in the foldable electric scooter market are designing compact motorbikes in order to diversify their range of products and appeal to a larger customer base. Compact motorbikes, which are portable and featherweight personal transportation devices tailored for city commuting, have a collapsible design that facilitates easy storage and convenience. For example, in September 2023, Honda Motors Co. Ltd., an automobile firm from Japan, introduced the Moto Compacto, a collapsible electric scooter intended for adaptable and exciting city transportation alternatives. This product is equipped with a 490-watt electric motor, has a maximum speed of approximately 15 mph, and can travel up to 12 miles. Moreover, the design facilitates high levels of customization, with Honda providing an array of accessories and components for personalization. The Moto Compacto is meant to complement Honda's forthcoming electric vehicles, such as the Prologue and Acura ZDX, by serving as a solution for last-mile transportation.
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Who Are the Major Competitors in the Global Foldable Electric Scooter Market?
Major companies operating in the foldable electric scooter market are Xiaomi Corporation, Yadea Group Holdings Ltd., Razor, Niu Technologies, Globber, Segway Inc., Jetson, Mega Wheels, Urban Machine, Swagtron, Unagi Scooters, eMove-Company, EcoSmart, Dualtron X Limited, Spacepac Industries Pty Ltd., Fluidfreeride, Glion Electric Scooter, Hiboy, Inokim Inc., Levy Electric, Minimotors, NanRobot, Shenzhen Iezway Technology, Voro Motors, GOTRAX
Which Region Dominates the Foldable Electric Scooter Market Share in 2025?
North America was the largest region in the foldable electric scooter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foldable electric scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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