Electric Scooter Market By Product (Standard, Folding, Self-Balancing, Maxi, Three Wheelers), By Battery Type (Lead Acid, Li-Ion), By Battery Fitting (Detachable, Fixed), By Motor Type (Hub-Motors, Mid-Drive Motors), By End-Use (Private, Commercial) and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Electric Scooter Market was valued at USD 17.0 billion in 2023 and will surpass USD 41.3 billion by 2030; growing at a CAGR of 13.5% during 2024 - 2030, This growth can be attributed to several factors, including advancements in battery technology, increasing government initiatives promoting electric mobility, and a growing awareness among consumers regarding the benefits of electric scooters.

The Electric Scooter Market has emerged as a pivotal segment within the broader electric vehicle landscape, driven by increasing environmental concerns, rising urbanization, and a growing emphasis on sustainable transportation solutions. The global shift towards electrification in mobility has led to a surge in the adoption of electric scooters, which offer a convenient, eco-friendly, and cost-effective alternative to traditional gasoline-powered vehicles. As urban populations grow and congestion in city areas intensifies, electric scooters provide an efficient mode of transportation, enabling users to navigate through traffic seamlessly while contributing to reduced carbon emissions.

Two-Wheel Electric Scooter Segment is Fastest Growing Owing to Increasing Urban Mobility Solutions

The two-wheel electric scooter segment stands out as the fastest-growing sub-segment in the electric scooter market, fueled by an upsurge in urban mobility solutions. As cities continue to grapple with issues such as traffic congestion and pollution, two-wheel electric scooters have become an appealing alternative for commuters seeking efficient transportation options. With their compact design and agility, these scooters can maneuver through traffic and access areas that may be challenging for larger vehicles. Moreover, the rise of shared mobility services has bolstered the demand for electric scooters, particularly in urban settings, where users can conveniently rent scooters for short trips.

Furthermore, advancements in battery technology are enhancing the performance and range of two-wheel electric scooters, making them more attractive to consumers. Innovations such as swappable batteries and improved charging infrastructure are addressing range anxiety, a common concern among potential electric scooter users. As a result, manufacturers are focusing on developing high-performance electric scooters that cater to the needs of urban commuters, thus driving the segment's growth.

Three-Wheel Electric Scooter Segment is Largest Owing to Growing Demand for Accessible Transportation

The three-wheel electric scooter segment represents the largest sub-segment in the electric scooter market, largely due to its ability to cater to a diverse demographic, including the elderly and individuals with mobility challenges. These scooters provide enhanced stability and comfort compared to their two-wheeled counterparts, making them an attractive choice for those seeking a reliable mode of transportation. The increasing aging population globally has spurred demand for three-wheel electric scooters, as they offer a safe and accessible means of mobility for seniors who may struggle with balance or physical limitations.

Additionally, the three-wheel electric scooter segment benefits from government initiatives aimed at promoting inclusive transportation solutions. Many countries are implementing policies and incentives to encourage the use of electric scooters as part of a broader strategy to reduce greenhouse gas emissions and enhance urban mobility. This growing acceptance and support from regulatory bodies are further solidifying the position of three-wheel electric scooters as a leading segment in the market.

Electric Scooter Accessories Segment is Fastest Growing Owing to Rising Demand for Customization and Safety

The electric scooter accessories segment is witnessing rapid growth, driven by the increasing demand for customization and safety enhancements among consumers. As electric scooters gain popularity, riders are seeking ways to personalize their vehicles to reflect their style and improve functionality. Accessories such as smartphone mounts, enhanced lighting systems, and custom seat covers are becoming essential add-ons that cater to consumer preferences. This trend is particularly prevalent among younger riders who prioritize individuality and aesthetics in their transportation choices.

Moreover, safety remains a paramount concern for electric scooter users, prompting the development of a range of safety accessories. Helmets, reflective gear, and anti-theft devices are among the top accessories that riders are investing in, driven by a desire to enhance their overall riding experience. As manufacturers increasingly offer bundled accessory packages, the electric scooter accessories segment is expected to continue its upward trajectory, contributing significantly to the overall market growth.

Electric Mobility Services Segment is Largest Owing to Increasing Adoption of Shared Mobility Solutions

The electric mobility services segment is the largest in the electric scooter market, primarily due to the rapid expansion of shared mobility solutions in urban areas. Ride-sharing and scooter-sharing platforms have gained immense popularity, offering users convenient access to electric scooters without the need for ownership. This model aligns well with the growing trend of urbanization, where many individuals prefer flexible transportation options that can be accessed on-demand. The rise of platforms such as Lime, Bird, and Spin has transformed the landscape of urban mobility, making electric scooters a staple in city transportation ecosystems.

In addition, the proliferation of mobile applications has made it easier for users to locate, rent, and return electric scooters, further enhancing the appeal of shared mobility services. As cities increasingly implement policies that favor sustainable transportation, the electric mobility services segment is positioned for robust growth. The combination of urban congestion, the need for eco-friendly transport, and the convenience offered by electric scooter sharing platforms will likely propel this segment's market share.

Asia Pacific Region is Largest Owing to Rapid Urbanization and Government Initiatives

The Asia Pacific region is the largest market for electric scooters, driven by rapid urbanization and proactive government initiatives promoting electric mobility. Countries such as China, India, and Japan are at the forefront of this growth, with China being the largest producer and consumer of electric scooters globally. The increasing population density in urban areas, coupled with the growing awareness of environmental issues, has led to a significant shift towards electric scooters as a practical transportation solution.

Governments in the Asia Pacific region are actively supporting the electric scooter market through incentives, subsidies, and investments in charging infrastructure. Initiatives aimed at reducing air pollution and enhancing urban mobility are encouraging consumers to transition from traditional gasoline-powered vehicles to electric alternatives. As a result, the region's electric scooter market is expected to maintain its dominance, accounting for a substantial share of the global market during the forecast period.

Competitive Landscape and Leading Companies

The competitive landscape of the electric scooter market is characterized by the presence of numerous established players and new entrants striving to capture market share. The top ten companies leading the market include:

1. Xiaomi Corporation: Known for its innovative designs and affordable pricing, Xiaomi is a key player in the electric scooter segment.
2. Segway-Ninebot: This company specializes in a wide range of electric scooters, known for their durability and advanced technology.
3. Yamaha Motor Co., Ltd.: A significant player in the electric mobility sector, Yamaha focuses on performance-oriented electric scooters.
4. Gogoro Inc.: Known for its smart electric scooters and battery-swapping technology, Gogoro is reshaping urban mobility in Taiwan and beyond.
5. Ather Energy: An Indian startup that has gained traction with its high-performance electric scooters designed for urban commuting.
6. Hero Electric: A leading electric scooter manufacturer in India, Hero Electric focuses on providing affordable and eco-friendly transportation solutions.
7. Vespa (Piaggio Group): The iconic Vespa brand has ventured into the electric scooter market, combining classic design with modern technology.
8. Lime: Primarily known for its scooter-sharing services, Lime is expanding its presence in the electric scooter market.
9. Bird: Another major player in the scooter-sharing space, Bird is leveraging its platform to offer electric scooters to consumers.
10. NIU Technologies: A prominent manufacturer of smart electric scooters, NIU emphasizes connectivity and user experience.

The competitive landscape is characterized by innovation, with companies investing heavily in research and development to improve battery efficiency, enhance safety features, and develop smart connectivity solutions. The collaboration between manufacturers and technology providers is also on the rise, leading to the integration of advanced technologies such as IoT and AI in electric scooters. As the market continues to evolve, competition is expected to intensify, driving further advancements in electric scooter technology and design.

Report Objectives:

The report will help you answer some of the most critical questions in the Electric Scooter Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the Electric Scooter Market?
3. What is the size of the Electric Scooter Market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa?
5. What are the market opportunities for stakeholders after analyzing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: