Electric Scooters Industry Overview
The global electric scooters market size was estimated at USD 20.78 billion in 2021, and the market is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030. The increasing demand for fuel-efficient vehicles, coupled with growing concerns over greenhouse gas and carbon emissions, is anticipated to drive the adoption of electric scooters (e-scooters) during the forecast period.
The COVID-19 pandemic has affected the overall automotive industry, leading to a subsequent decline in growth of the electric powertrain market, as a result of low automotive sales and new requirements during the first half of 2020. However, stringent emission norms by the government agencies such as emission standards for greenhouse gas (GHG) emissions by US Environmental Protection Agency (EPA), BS-VI in India and China VI is driving the market for electric scooters.
Gather more insights about the market drivers, restraints, and growth of the Global Electric Scooters market
High mechanical efficiency, easy integration of regenerative braking, low noise levels, and moderately economical maintenance costs are the factors supporting the market growth. The COVID-19 crisis has resulted in a global economic slowdown. Lockdowns implemented in various parts of the world to curb the spread of the virus led to disruptions in the supply chains and a temporary ceasing of production at several production facilities. The electric scooters market is particularly vulnerable due to its dependency on global sourcing for its batteries' core technology.
The initial purchase cost of electric vehicles is more significant than their gas-powered and hybrid counterparts. However, increasing awareness towards social distancing have resulted in surge in demand for electric scooters adoption. Increasing adoption of electric scooter sharing services in countries such as Spain, the U.S., Germany, and France has spurred the demand for battery-powered two-wheelers. Companies such as Razor, Lime, Bird, Jump, and Spin offering e-scooter sharing services are procuring these vehicles mainly from manufacturers such as Xiaomi, Gogoro, and Ninebot-Segway.
These sharing services are witnessing an exponential adoption rate since 2016. Currently, more than 90 cities and various universities globally use this service, with around 95 percent of scooters having an electric drivetrain. Increasing monetary and non-monetary incentives are encouraging the adoption of battery-operated two-wheelers. Moreover, the need for sustainable urban mobility and modern transportation infrastructure is driving the transition from conventional to electric modes of transport. E-scooters are anticipated to have a positive influence on energy security and air quality.
The participation of vehicle manufacturers and governments in meeting the standards for zero-emissions is significantly contributing to reduce the carbon emission gap significantly by 2021. Furthermore, the consumption of electricity in these vehicles can be managed with proper energy and power infrastructure planning. This is further mitigated using renewable energy and technological advancements such as solar-powered vehicles and vehicle-to-grid technologies.
Governments across the globe have formulated several policies to increase the penetration of electric scooters by offering various benefits to consumers as well as manufacturers in the form of subsidies. Support in the form of research and development initiatives is also a prominent growth factor. For instance, in the U.S., the Corporate Average Fuel Economy (CAFÉ) standards are increasing the adoption of energy-efficient automobiles by framing regulations for enhancing the utilization of alternative fuel vehicles and the reduction of fossil fuel consumption.
Similarly, the Canadian government is developing a strategy to reduce the country’s greenhouse gas emissions and increase the number of zero-emission vehicles. Besides this, the swift adoption of scooter-sharing services has triggered the demand for battery-powered two-wheelers. This, in turn, creates a highly conducive environment for growth.
Browse through Grand View Research's Automotive & Transportation Industry Related Reports
E-bikes Market - The global e-bikes market size was valued at USD 17.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.5% from 2022 to 2030.
Electric Vehicle Market - The global electric vehicle market demand was estimated at 2,373.5 thousand units in 2019 and is expected to witness a CAGR of 41.5% 2020 to 2027.
Market Share Insights
November 2021 - Helbiz launched new standing electric scooters for building a new racing league.
October 2021 - Ford partnered with the new lab to bring electric vehicle technology to the mobility innovation program.
Key Companies profiled:
Some prominent players in the global Electric Scooters market include
- Yadea Technology Group Co., Ltd.
- Jiangsu Xinri E-vehicle Co. Ltd.
- Hero Electric
- Gogoro Inc.
- Vmoto Limited
- BMW Motorrad International
- Mahindra GenZe
- Terra Motors Corporation
Order a free sample PDF of the Electric Scooters Market Intelligence Study, published by Grand View Research.
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