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Electric Scooter Market Analysis by Vehicle Type (E-Scooter & Mopeds, and E-Motorcycles); by Battery Type (Sealed Lead Acid, NiMH, Li-Ion, and Others); by Product (Retro, Self-balancing, and Folding); by Technology (Plug-in and Battery); and by Voltage (24V, 36V, 48V, and 48<) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • OLA Group has acquired an Amsterdam-based electric scooter startup to produce and launch its own line of two wheelers as soon as this year.

  •  Hero Electric Vehicles Pvt. Ltd. is all set to finalize the dealership in Hyderabad in partnership with Kukatpally Ankur Motors to meet the growing demand for electric 2-wheelers in the area.

Global Electric Scooter Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~ 10%

Base Year Market Size (2022)

~ USD 20 Billion

Forecast Year Market Size (2033)

~ USD 30 Billion

 

The global electric scooter market is estimated to garner a revenue of ~ USD 30 Billion by the end of 2033 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 20 Billion in the year 2022. The primary factor attributed towards the growth of electric scooter market size is the high demand of electric vehicles by the burgeoning population across the world. The reports by the International Energy Agency (IEA) stated that the sales of electric vehicles (EVs) doubled in 2021 from the previous year to a new record of 6.6 million.

electric scooter market overview

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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. As a result, the rising government support in order to produce electric scooters is anticipated to expand the electric scooter market size. A report of 2021 stated that the Indian government has increased the subsidy under the second phase of the FAME India scheme on electric two-wheelers by 50 per cent, making them more affordable.

Global Electric Scooter Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Concern for Rising Air Pollution – The ever increasing air pollution into the atmosphere are harmful to human health and the environment on a global scale. Therefore, the high deaths owing to high air pollutants is expected to increase the adoption rate of electric scooters in the forecast period. The World Health Organization in a recent data stated that almost all of the global population i.e. 99% breathe air that exceeds WHO guideline limits that contains high level of pollutants.

  • Hike in Motor Fuel Prices – As per a report of Bureau of Transportation Statistics published in 2022, the price of regular motor gasoline rose almost 49% from January 2022 to June 2022. Whereas, the price of diesel fuel rose to 55% in the same time period.

  • Enhanced Energy Consumption - A standard electric scooter with a 25 km range has a 6400 mAh 36 Volt battery and it usually takes about 4 or 5 hours to charge fully. 

  • Upsurge in Traffic Congestion – The latest report calculated that the Americans lost almost 4 billion hours owing to congestion in 2021.

Challenges

  • High Cost of Electric Scooters
  • Lack of Good Road Network
  • Lack of Infrastructure in Emerging Nations

The electric scooter market is segmented and analyzed for demand and supply by battery type into sealed lead acid, NiMH, Li-Ion, and others. Out of these, the Li-Ion segment is attributed to garner the highest market share, wing to the superior quality of lithium-ion battery chemistry, efficient and fast charging, good battery life, zero maintenance requirements, and ease of portability. For instance, compared to the average lead acid battery's 85% efficiency, lithium batteries charge with a nearly 100% efficiency.

Global Electric Scooters Market Regional Synopsis

Regionally, the global electric scooters market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed up rising demand of electric two wheelers among the population. A report of 2022 stated that electric two wheelers register a staggering 130% growth in 2021. Further, the growing stances of traffic congestion, upsurge in carbon emission regulations, and growing urbanization in the region. For instance, in 2021, Mumbai's congestion level was accounted nearly 54%, which represents that it took 54% longer time to get from one point to another than in a free flow scenario.

electric scooter market share

The global electric scooters market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global electric scooter market includes the following segments:

         By Vehicle Type

  • E-Scooter & Mopeds
  • Motorcycles

          By Battery Type

  • Sealed Lead Acid
  • NiMH
  • Li-Ion
  • Others

           By Product

  • Retro
  • Self-balancing
  • Folding

 

 

           By Technology

  • Plug-in
  • Battery

            By Voltage

  • 24V
  • 36V
  • 48V
  • 48<

Top Featured Companies Dominating the Global Electric Scooters Market

  • OLA Group

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Niu International Co. Ltd.
  • Hero Electric Vehicles Pvt. Ltd.
  • Bayerische Motoren Werke Aktiengesellschaft
  • Gogoro Inc.
  • Mahindra Group
  • Vmoto Limited
  • Zhejiang Luyuan Electric Vehicle Co., Ltd
  • Yadea Technology Group Co. Ltd.
  • Terra Motors Corporation

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