The global electric scooters market size is expected to reach USD 41.98 billion by 2030 registering a CAGR of 8.5% over the forecast period, according to a study conducted by Grand View Research, Inc. Rising consumer awareness about eco-friendly transportation, increasing adoption of electric scooter sharing services, and declining raw material prices are expected to fuel the demand. Growing focus on sustainable transportation infrastructure is also projected to augment the market growth. Manufacturers are adopting various strategies, such as collaborations, mergers, and product launches, to enter the continuously evolving electric scooters industry.
Moreover, continuous product innovations within the industry and vehicle charging infrastructure, such as home charging solutions, are projected to bolster the market revenue over the next 13 years. Growing number of registrations of electric scooters are supporting governments in meeting the standards for the adoption of zero-emission vehicles, thus plummeting the emission gap by 2020. Furthermore, energy-efficiency of these vehicles can be achieved with smart vehicle charging infrastructure, which is further lessened by progressing technologies, such as solar power and vehicle-to-grid technologies. Asia Pacific is anticipated to lead the market over the forecast period due to factors, such as collaboration of charging equipment manufacturers with researchers and automakers.
For instance, in 2016, Honda Motor Company and Yamaha Motor Corporation allied to manufacture electric scooters in Japan. Similar factors are responsible for the dominance of China in the Asia Pacific market. North America is anticipated to witness the highest CAGR over the forecast period. U.S. is expected to emerge as the leading economy, in terms of demand for electric scooters, due to new product developments. Moreover, various large-scale manufacturers, such as Mahindra GenZe, are entering the U.S. market. The regional market is, however, observing some challenges owing to new traffic laws being outlined by regulatory bodies to ensure public safety.
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Key Takeaways from the report:
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Retro scooters is anticipated to be the dominant segment over the forecast years owing to significant demand for electric scooters fitted with docks
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Based on battery, the sealed lead acid segment accounted for the largest share of 64.7% of the global electric scooters market in 2018
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However, stringent laws and regulations to reduce the amount of lead released into the environment are compelling manufacturers to incorporate NiMH and Li-Ion batteries into the scooters
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Asia Pacific is expected to be the largest regional market reaching USD 26.25 billion by 2030 on account of heavy investments in the vehicle charging infrastructure
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Some of the prominent industry participants include Gogoro, Inc.; Terra Motors Corporation; Mahindra GenZe; Vmoto Limited; Xinri Electric Vehicle Co. Ltd.; and BMW Motorrad International
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Purchased Database
1.2.1 GVR’s internal database
1.3 Research Methodology
1.4 Geographic Scope & Assumptions
1.5 Region/Country Wise Market Calculation
1.5.1 Region /country wise market: Base estimates
1.5.2 Region/country market: CAGR calculation
1.6 Region-based Segment Share Calculation
1.7 List of Primary Sources
1.8 List of Secondary Sources
1.9 List of Abbreviations
Chapter 2 Executive Summary
Chapter 3 Market Definitions
3.1 Market Segmentation
Chapter 4 Industry Outlook
4.1 Market Snapshot
4.2 Global Electric Scooters Market Trends
4.3 Global Electric Scooters Market
4.3.1 Product segment trends
4.3.2 Battery segment trends
4.3.3 Voltage segment trends
4.3.4 Region segment trends
4.4 Value Chain Analysis
4.5 Market Variable Analysis
4.5.1 Market driver analysis
4.5.1.1 Increasing adoption for electric scooters sharing service
4.5.1.2 Rising consumer awareness towards eco-friendly transportation
4.5.1.3 Declining raw material prices
4.5.2 Market restraint analysis
4.5.2.1 Stringent government regulations
4.6 Penetration and Growth Prospect Mapping
4.7 Electric Scooters Market Key Company Analysis, 2017
4.8 Business Environment Analysis Tool
4.8.1 Electric Scooters market: PEST analysis
4.8.2 Electric scooters market: PORTERS analysis
4.9 Electric Scooters Market – Regulatory Landscape
4.9.1 North America
4.9.2 Asia Pacific
4.9.3 Europe
4.10 Electric Scooters Market – Key Innovators
4.11 Electric Scooters Sharing Market Outlook
4.11.1 Industry Overview
4.11.2 Key Market Participants
4.11.3 Cost Structure
4.11.4 Business Models
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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