Electric Scooters Market Size to Rake US$ 40.7 billion by 2030

According to Report, the electric scooters market is expected to grow at a CAGR of 10.6% during forecast period 2021 to 2030 and is projected to reach around US$ 40.7 billion by 2030.

Electric Scooters Market (By Product: Retro, Standing/Self-Balancing, Folding By Battery: Sealed Lead Acid, NiMH, Li-Ion; By Voltage: 24V, 36V, 48V, Greater than 48V) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

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Report Highlights

The retro segment dominated the market with a revenue share of more than 55% in 2020 owing to the shift toward green vehicles for commuting over short distances. This move has helped reduce overall commuting costs for consumers across the world.  

The folding variant is anticipated to exhibit a CAGR of 12.1% over the forecast period. The advent of next-generation smart electric scooters with big data and IoT technology and the need for product differentiation have driven demand for folding e-scooters. 

The SLA battery segment dominated the market with a revenue share of more than 62% in 2020 owing to the benefits of the SLA battery such as robustness, tolerance to abuse, and low cost.

The lithium-ion battery segment is estimated to register a CAGR of 12.4%. The price of lithium-ion batteries is expected to witness a declining trend over the coming years, with the price expected to fall by around 70 percent by 2030.

Asia Pacific dominated the global e-scooters market and was valued at USD 15.3 billion in 2020. Most electric scooter manufacturers have emerged from China, Taiwan, and Japan, acquiring the largest share all over the world.

North America is slated to witness the highest CAGR of 14.2% over the forecast period. Growing investment in electric vehicle charging infrastructure and research support for innovative high-density batteries is anticipated to contribute to overall regional growth.

Key Players

  • Mahindra GenZe
  • BMW Motorrad International
  • Vmoto Limited
  • Terra Motors Corporation
  • Gogoro Inc.
  • Jiangsu Xinri Electric Vehicle Co. Ltd. 

Market Segmentation

  • Product
    • Retro
    • Standing/Self-Balancing
    • Folding
  • Battery
    • Sealed Lead Acid
    • NiMH
    • Li-Ion
  • Voltage
    • 24V
    • 36V
    • 48V
    • Greater than 48V
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
    • Asia Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.        

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