Market Definition
An electric scooter is a two-wheeled, battery-powered personal transportation device designed for short-distance urban commuting. Characterized by its compact size and electric motor, these scooters are environmentally friendly and contribute to reduced emissions in urban areas. Typically featuring a handlebar for steering and a platform for the rider’s feet, electric scooters are gaining popularity as an efficient and convenient mode of transportation, offering an alternative to traditional gasoline-powered vehicles for short trips and last-mile connectivity.
zkMarket Outlook
The global Electric Scooters Market size was approximately USD 33.3 billion in 2023 and it is anticipated to grow up to nearly USD 88.7 billion by 2033, at a CAGR of 10.2% during the forecast period.
The global electric scooters market is witnessing significant growth, driven by the increasing demand for fuel-efficient vehicles and a growing awareness of Greenhouse Gas (GHG) emissions. Stringent emission norms set by government agencies worldwide, such as the U.S. Environmental Protection Agency (EPA) and BS-VI in India and China, are fostering the adoption of electric scooters. E-scooters, known for their high mechanical efficiency and low maintenance requirements, are gaining popularity, especially as they become part of shared mobility ecosystems. Despite initial challenges during the COVID-19 pandemic, the industry is experiencing a resurgence post-pandemic, fueled by government initiatives, tax rebates, and policy changes. Companies like Razor, Lime, and Bird, involved in e-scooter sharing services, are contributing to this growth, along with incentives for battery-operated two-wheelers. The focus on sustainable urban mobility, smart transportation infrastructure, and global government subsidies further support the positive growth of the electric scooters market.
Moreover, as global awareness of greenhouse gas emissions and environmental concerns rises, governments worldwide are actively offering subsidies to encourage the adoption of electric vehicles, including electric scooters. For instance, Austria is planning to provide subsidies ranging from 700 to 800 euros for class L1e electric two-wheelers and from 1,000 to 1,200 euros for class L3e electric two-wheelers, encompassing e-mopeds, e-motorbikes, e-bikes, and e-cargo bikes. Moreover, various states have implemented financial incentives such as rebates, tax credits, and registration fee reductions to promote the widespread adoption of electric vehicles, contributing to the increasing demand for electric scooters. The growing awareness among consumers about the benefits of electric bikes is anticipated to further bolster market growth in the years to come.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Electric Scooter Market Segmentation:
By Drive Type
- Belt Drive
- Chain Drive
- Hub Motors
By Battery Technology
- Lead Acid
- Li-ion
- Others
By Voltage Type
- 48-59V
- 60-70V
- 73-96V
- Above 96V
By End-user
- Personal
- Commercial
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Major Players in the Seal Paper Market
To obtain a competitive edge in the rapidly expanding electric motorcycles & scooters market, players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the Electric Scooter Market Report includes Hero Electric (India), Yadea Technology Group (China), NIU International (China), Mahindra GenZe (U.S), Ather Energy Pvt. Ltd. (India), Gogoro Inc. (Taiwan), Terra Motors Corporation (Japan), Okinawa Autotech (India), Vmoto Limited (Australia), and Torrot Group (Spain), among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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