Electric Scooter Global Market Report 2023: Increased Usage of Electric Motorbikes and E-Bikes for Short Commutes Drives Growth
The global electric scooter market is forecasted to reach US$ 37.44 Billion by 2028, growing at a CAGR of 13% from 2022. The rise is driven by increased demand for affordable last-mile transport and the popularity of electric motorbikes and e-bikes among urban commuters, particularly among the youth and middle-class in developing nations. Additionally, government emission standards are pushing adoption. In 2022, the market was valued at US$ 17.98 Billion. The retro electric scooter segment is expected to see significant growth, while lithium-ion polymer batteries are projected to dominate due to their advantages over lead-acid types.
- Projected market growth from US$ 17.98 Billion in 2022 to US$ 37.44 Billion by 2028.
- CAGR of 13% driven by increased adoption of electric scooters for urban commuting.
- Strong demand from the youthful population and rising middle-class purchasing power.
- None.
Worldwide electric scooters market is predicted to reach
These vehicles' agility and simplicity of manoeuvring in highly populated locations with significant traffic congestion are additional benefits that are likely to propel the E-scooter market expansion. Electric scooter adoption among the youthful population, expanding buying power of the middle-class community in developing nations, and fast urbanization are predicted to considerably fuel product demand globally.
Consumer happiness is another critical aspect for businesses aiming to retain current consumers or extend their client base. Rising demand for fuel-efficient automobiles throughout the world, as well as growing concern about the alarming rise in global pollution, are some of the primary drivers driving the market growth of electric scooters in the next few years.
As a result, governments in many regions have established tough emission standards in order to slow the rate of growing
Electric Scooter Industry will be driven by Increased Usage of Electric Motorbikes and E-Bikes for Short Commutes
Customers are looking for easy, time-efficient, and cheap forms of transportation to reach their destination as traffic congestion worsens, resulting in longer journey. Electric motorbikes, electric bicycles, and e-kicks are lightweight vehicles that provide a highly practical answer to the special needs of urban travel.
As the popularity of micro-mobility has grown, industry participants have developed vehicle-sharing options that allow individuals to avoid purchasing their micro-mobility cars. Commuters may now rent a car using smartphone applications.In 2022, the global market for electric scooters (E-Scooters) was worth of
Revenue Share has been retained by the Retro Electric Scooter Product Segment
Retro electric scooters are expected to grow at a rapid pace in the next years. This is mostly due to a significant shift in consumer desire for green mobility solutions, particularly for short-distance commuting. This has also assisted customers in lowering global computation costs.
During the projected period, the folding version is expected to grow at a healthy CAGR. The advent of next-generation smart electric scooters with big data and IoT, as well as the demand for product differentiation, has spurred the folding scooter industry to rise. These scooters have gained popularity in
During the Projected Period, the lithium-ion Polymer Market is expected to Increase Rapidly
Based on battery technology, the lithium-ion polymer category, is predicted to develop at the fastest CAGR throughout the projection period. This segment's quick development may be ascribed to low-cost production, simple cell architecture, high energy density, lightweight batteries, strong resistance to physical damage, and fewer risks of electrolyte leakage.
Due to the features of the Lead-Acid battery, such as longevity, damage tolerance, and cheap cost, the Lead-Acid battery category led the market with a revenue share. However, because SLA batteries are huge and drain fast even when not carrying major loads, their use is projected to reduce in the future years.
48 V Battery-Powered Vehicles Control the Market
Higher power output is required to power the deployment of 48V battery packs in electric two-wheelers in 2022, the 48V battery section of the electric motorcycles and scooters industry. These batteries provide more power, are smaller in size, and can minimize the amount of battery space required in electric two-wheelers. Furthermore, higher performance and extensive charge cycles are two important characteristics of 48V battery packs. As a result, electric two-wheeler manufacturers are using these batteries to reduce power lag and increase acceleration. Aside from that, incorporating sophisticated technology into 48-V batteries, such as regenerative braking, should improve product use in electric bikes and scooters.
The
Furthermore, the governments in this region are looking for active engagement in promoting electric scooters and automobiles. For example, the Indian government is actively pushing electric scooters and automobiles through fiscal incentives, capital, and interest subsidies. The use of electric motorbikes is increasing in emerging economies. Electric motorbike sales in
Product - Market breakup from 3 viewpoints
1. Retro
2. Standing/Self Balancing
3. Folding
Battery Type - Market breakup from 2 viewpoints
1. Lithium-ion (Li-Ion)
2. Lead Acid
By Battery Voltage - Market breakup from 4 viewpoints
1. 24V
2. 36V
3. 48V
4. Above 48V
Regions have been covered from 4 viewpoints
1.
2.
3.
4. Rest of World
Companies Mentioned
Energica Motor Company Niu Technologies - Vmoto Limited
- Yadea Group Holdings Ltd
KTM Group
For more information about this report visit https://www.researchandmarkets.com/r/4nnav6-scooter?w=5
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