Scooting into the Future: Electric Scooters Market Expected to Reach US$ 22.7 Billion by 2032, with a CAGR of 9%

The global electric scooters market is valued at US$ 9.59 billion as of 2022. The market is expected to grow at a CAGR of 9% during the forecast period, and by 2032, the market is expected to reach an estimated US$ 22.7 billion.

Due to rising petrol prices and an increase in demand for fuel-efficient cars, it is estimated that usage of electric scooters would increase throughout the course of the anticipated time period. Governments from all around the world are also working to reduce pollution brought on by the growth of metropolitan areas. People have started utilising these electric two-wheelers because of their incredibly low emissions, which is expected to fuel the growth of the market for electric scooters.

These aids are quite effective at lessening noise pollution. Compared to scooters powered by internal combustion engines, electric scooters are significantly quieter. As a result, it’s possible that electric scooter sales may rise as predicted. Some of the bigger ridesharing companies, like Ola, which also sells reasonably priced mobility scooters, offer a nice break for office workers in particular. Millennials like electric scooters because of their trendy features including their light weight, small storage capacity, and unique style.

The lack of charging outlets raises questions about the commercial growth of electric scooters. With the predicted increase in the adoption of these electric scooters, it is hoped that the issue of a lack of charging stations will be swiftly overcome, and we may see a lot more charging stations in the future.

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Key Takeaways:

  • China electric scooters market is expected to hold a market share of nearly 80% in the Asia Pacific region during the forecast period.
  • China is also expected to be one of the fastest-growing markets during the forecast period.
  • Based on the product type, the maxi electric scooters are expected to have the highest share in the electric scooters market. Based on the battery type, the lead-based battery type is expected to have the highest electric scooters market share during the period 2022-2032.
  • Based on the technology, battery technology is expected to have the highest market share during the forecast period.

Competitive Landscape:

The key players are currently investing in strategic partnerships. The reason is that they want to implement the state-of-the-art technology that has been developed by players from other industries like the semiconductor sector, electronics sector, etc. This would certainly enable them to leverage the technology in the electric scooters and assist them in delivering a seamless user experience.

Some of the recent developments in the electric scooters market are:

  • In July 2022, Ather announced that it planned to boost electric scooters production tenfold.
  • In September 2022, Yamaha opened ‘Blue Square’ premium outlet in Bhubaneswar. The outlet would offer engaging customer experience, and showcase Yamaha’s entire range of two wheelers, apparels and accessories.

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Key Companies Profiled

Alta Motors, Ather Energy, BMW Motorrad International, Cezeta, Energica Motor Company, Hero Eco, Johammer e-mobility GmbH, KTM AG, Mahindra GenZe, Ninebot Limited, Okinawa Autotech Pvt. Ltd, ReVolt Electric Motorbikes, Xiaomi, Yamaha Motor Company Limited.

Key Segments in the Electric Scooter Market

By Product Type:

  • Standard
  • Folding
  • Self-Balancing
  • Maxi
  • Three-Wheeled

By Battery Type:

  • Li-Ion
  • NiMH
  • Lead-Based

By Technology:

  • Plug-In
  • Battery

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

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