With the emergence and long-term Impact of COVID-19, the Global Electric Scooters Market is to reach USD 70.61 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Electric Scooters Market is poised to raise up to USD 70.61 Billion by 2030. Electric scooters are small, light, and run on battery power with two wheels. They are faster than regular scooters, and their batteries are rechargeable through electric charging. Electric scooters are gaining popularity around the world due to their cost-effectiveness, environmental friendliness, and time-saving advantages. Unlike conventional scooters that require gas or fuel, EVs do not require any fuel or gas. The demand for fuel-efficient vehicles has increased due to concerns about greenhouse gas and carbon emissions, leading to a rise in the adoption of electric scooters (e-scooters) over the forecast period.
However, the market growth hindered by competition from other modes of transportation. The market is seeing significant growth over the years due to rising concerns about greenhouse gas and carbon emissions. According to a survey report by Statista, the number of users in the E-Scooter-sharing market is expected to reach 133.80 million by 2027, with most revenue generated in the United States. As global awareness of greenhouse gas emissions and environmental pollution grows, consumers are shifting their preference from traditional vehicles to electric vehicles.
The adoption of electric scooters is on the rise, and manufacturers are constantly developing new battery technologies to improve efficiency and reduce costs, creating growth opportunities for the market. Moreover, governments are promoting electrification and offering subsidies to promote the growth of electric vehicles. However, the lack of charging infrastructure pose the largest obstacle to the expansion of the market during the forecasted period 2023-2030.
The key regions considered for the Global Electric Scooters Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. In 2022, the Asia Pacific region dominated the market due to rapid urbanization, the affordability of e-scooters, and consumer awareness about clean energy transportation to reduce vehicular emissions. Ongoing research and development activities are expected to further boost this market over the next decade. Ola Electric, an Indian brand, has plans to build the world’s largest network of charging stations for electric two-wheelers. The Ola Hypercharger Network boasts more than 100,000 charging stations across 400 cities, making it the world’s largest and most concentrated electric two-wheeler charging network.
North America is expected to experience significant growth over the forecast period. This growth is fueled by initiatives from both government and private market players to expand the regional electric two-wheeler charging station network. Additionally, research and development activities aimed at developing high-density batteries are expected to boost the regional market growth in the coming years. Revel, a Spanish business, invested USD 27.6 million to introduce 68 MUVI e-scooters to the U.S. market.
The global Electric Scooters Market is highly competitive owing to the presence of several key manufacturers such as KTM AG, AllCell Technologies LLC, BMW Motorrad International, BOXX Corp., Mahindra GenZe, Gogoro, Inc., Green Energy Motors Corp., and others.
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Global Electric Scooters Market Size study & Forecast, by Drive Type (Belt Drive, Chain Drive, Hub Motors), by Battery (Lead Acid, Li-ion, Other), by End Use (Personal, Commercial), and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Electric Scooters Market is anticipated to grow with a healthy growth rate of more than 9.9% over the forecast period 2023-2030.
- In the End Use segment, Personal emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to consumer awareness about clean energy transportation to reduce vehicular emissions.
- North America is expected to grow at a high CAGR followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Drive Type:
- Belt Drive
- Chain Drive
- Hub Motors
- Lead acid
By End Use:
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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