Electric Scooters Market is Expected to reach a valuation of US$ 9.59 Bn by 2032 - Future Market Insights, Inc.
NEWARK, Del., Sept. 14, 2022 /PRNewswire/ -- The global electric scooters market is anticipated to grow at a CAGR of 9% during the forecast period. In 2021, the market valuation was US$ 8.8 billion. However, in 2022, the valuation jumped to US$ 9.59 billion, and by 2032, the market is expected to have a valuation of US$ 22.70 billion.
Lithium-Ion battery expected to have the Highest Share in the Electric Scooters Market. Maxi Electric scooters are anticipated to have the Highest Market Share. The USA Electric Scooters Market is anticipated to grow at a CAGR of 8.4% during the forecast period. Increasing Investment from Ridesharing Companies Expected to Drive Electric Scooters Market during 2022-2032
NEWARK, Del., Sept. 14, 2022 /PRNewswire/ -- The global electric scooters market is anticipated to grow at a CAGR of 9% during the forecast period. In 2021, the market valuation was US$ 8.8 billion. However, in 2022, the valuation jumped to US$ 9.59 billion, and by 2032, the market is expected to have a valuation of US$ 22.70 billion.
The electric scooters are believed to be one of the easiest modes of commutation. Therefore, they are being increasingly used by ridesharing companies. Moreover, the charges associated with the usage are also nominal.
Electric scooters are also popular amongst the investors, as they do not produce much noise while plying on roads, and this is something which the authorities across the world look out for. Additionally, they also do not emit greenhouse gases. Because of this reason, the governments and other governing authorities across the globe are putting huge amounts of money to promote the manufacturing of electric scooters. This is expected to increase the sales of electric scooters during the forecast period.
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Moreover, the maintenance cost associated with electric scooters is much less as compared to conventional scooters or bikes. This as well might boost the electric scooters market during the forecast period.
It is a global news that the fuel prices at rising at a rate like never before. This presents a huge opportunity to the electric scooters and undoubtedly, the market is making the best use of this. As the name suggests, the electric scooters are operated using electricity.
Additionally, more and more players, be it local or global are entering into the electric scooters market because of the benefits associated. This might as well surge the demand for electric scooters.
Furthermore, rapid urbanisation is also one of the reasons which is fuelling the growth of electric scooters market. The reason being, because of construction and related activities, the pollution level tends to increase. To contain the rising pollution, the authorities encourage the usage of electric scooters.
Thus, the FMI researchers are of the view that rapid urbanisation, low cost of commutation and a number of factors are expected to drive the electric scooters market during the forecast period.
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Key Takeaways:
- The electric scooters market had a value of US$ 8.8 billion in2021.
- The electric scooters market has a valuation of US$ 9.59 billion as on 2022.
- The electric scooters market is expected to be valued at US$ 22.70 billion by 2032.
- The market is projected to grow at a CAGR of 9% during the forecast period.
- Based on the battery type, Li-ion is expected to have the largest market share during the forecast period.
- Based on the product type, maxi electric scooters are projected to have the highest market share during the forecast period.
- Based on the technology, the battery technology is anticipated to be the most preferred during the forecast period.
- Asia Pacific is expected to be the largest market throughout the forecast period.
- USA market expected to grow at a CAGR of 8.4% during 2022-2032.
- UK electric scooters market projected to grow at a CAGR of 8.8% during the forecast period.
- China projected to be the largest market.
- India market expected to grow at a good rate.
Competitive Landscape
With a lot of buzz generating around the electric scooters market, the key players are taking the necessary steps to develop consumer oriented electric scooters, like employing GPS in the electric scooters.
Some of the recent developments are:
- In July 2022, Ather Energy appointed Sanjeev Kumar Singh as the new Vice President of manufacturing and Harendra Saksena as the Chief Procurement Officer.
- In September 2022, Tech Mahindra and Tada Cognitive Solutions partnered to digitally transform the supply chain networks for enterprises in the US.
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Key Companies Profiled
- Alta Motors
- Ather Energy
- Bajaj Auto
- BMW Motorrad International
- Cezeta
- Energica Motor Company
- Evoke Motorcycles
- Hero Eco
- Johammer e-mobility GmbH
- KTM AG
- Mahindra GenZe
- Ninebot Limited
- Okinawa Autotech Pvt. Ltd.
- Piaggio & C. SpA
- ReVolt Electric Motorbikes
- Xiaomi
- Yamaha Motor Company Limited.
Key Segments Profiled in the Electric Scooters 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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Table of Content
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
2.3. Electric Vehicles Market Overview
3. Global Electric Scooters Market Analysis Scenario
3.1. Market Volume Analysis
3.1.1. Installed Base By Region
3.1.2. Replacement Rate and Cost Tear Down Analysis
3.2. Pricing Analysis
3.2.1. Pricing Assumptions
3.2.2. Price Projections Per Region
3.3. Market Size (US$ Mn) and Forecast
3.3.1. Market Size and Y-o-Y Growth
3.3.2. Absolute $ Opportunity
3.4. Market Overview
3.4.1. Value Chain
3.4.2. Profitability Margins
3.4.3. List of Active Participants
3.4.3.1. Component Suppliers
3.4.3.2. Manufacturers
3.4.3.3. Distributors / Retailers
4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunity
4.4. Trends
4.5. Forecast Factors – Relevance and Impact
About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders' right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behaviour.
Have a Look at Related Research Reports of Automotive Domain
Three Wheel E-Scooter Market : is anticipated to have a steady CAGR of 2.4% during the period 2022-2032. The three-wheel e-scooter market share is predicted to grow from US$ 1024.2 Million in 2022 to US$ 1301.4 Million in 2032.
Water Proof E-Scooter Market : is growing at an average pace and is likely to secure a CAGR of 5% during the forecast period. Historically (2017-2021), the water proof e-scooter market grew at a CAGR of 1.7%.
Used E-Scooter Market : is likely to expand its roots in the global market at a strong CAGR of 3.2% between 2022 and 2032. The market is valued at US$ 671.2 Mn in 2022 and is likely to reach US$ 919.7 Mn by 2032.
Hybrid E-Scooter Market : is predicted to grow at a moderate CAGR of 3.9% during the forecast period of 2022 to 2032. The global hybrid e-Scooter market share is estimated to be worth about US$ 3692.4 Million by 2032 end, expanding from a net worth of US$ 2518.6 Million in 2022.
Folding E-Scooter Market : is anticipated to have a significant CAGR of 2.6% during the period of 2022-2032.
Electric Kick Scooter Market: The electric kick scooter market is estimated to grow at 11.5% CAGR between 2021 and 2031
E-Scooter Financing Market: The E-scooter financing market is expected to reach US$ 253.2 Bn by 2032, with demand growing at a CAGR of 28.4% over the forecast period.
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