Global Electric Scooter Market Overview
The global electric scooter market size was anticipated at USD 18.9 billion in 2019. Growing demand for green vehicles owing to increased global awareness about greenhouse gas emission is anticipated to boost market growth over the next decade. Low procurement & maintenance cost is expected to increase adoption of these e-scooters worldwide. The e-scooters also offer a noise & emission-free driving experience thus, attracting young generations, who are also key target customers for these products.
There is a completely new business model of e-scooter sharing that is rising in developed nations such as the U.S., France, Germany, China, and Japan. Major technology start-ups, mobility companies are eyeing this business model. These companies offer rental and shared electric scooter services for the short-distance commute. electric scooters are not only techno-savvy but also are highly economical compared to the traditional internal combustion engine ()ICE) vehicles. Leading companies in the e-scooter sharing business include Razor, Spin, Jump, etc. these companies have partnerships with electric scooters manufacturing companies such as Ninebot, Xiaomi, and Gogoro Inc. to supply the fleet.
Government initiatives such as incentive & subsidy programs are playing a key role in improving the adoption of electric scooters in the European region. The government is also focusing on developing a network of electric scooter charging infrastructure in order to felicitate the electric scooter adoption program. The European Union zero-emission program specifically aims at replacing conventional vehicles with more sustainable electric vehicles for protecting the environment. EU has also set strict emission regulations & norms to fulfill this purpose. Governments are also encouraging the usage of sustainable energy resources such as solar energy to produce electricity for charging these vehicles.
Product Type Insights
The retro electric scooter market accounted for the largest market share in 2019, owing to high product prices & increasing rate of replacement of conventional scooters & mopeds with electric variants. retro electric scooters also offer better convenience for the short-distance commute. Millennials in the U.S., Europe, China & Japan is among the largest adopters for these type of scooters.
The standing.self-balancing variants are growing at a moderate pace, recent events of fire & blast in this particular type of e-scooters has highly affected their sales. Various governments are also planning to ban these self-balancing electric scooters in public places. However, manufacturers are trying to implement technological improvements in these products to boost market demand.
Battery Type Insights
The lithium-ion battery segment accounted for the largest market share in 2019, as these are the most common type of batteries used in self-balancing, folding electric scooters. The sealed lead-acid batteries are commonly used in retro electric scooters as they offer greater power efficiency and performance.
Electric Scooter Market Segmentation
For the purpose of this study Confianza market research has segmented the global electric scooters market into the following key segments:
- Product Type Insights (Revenue, USD Million, 2017-2030)
- Standing / Self-Balancing
- Battery Type Insights (Revenue, USD Million, 2017-2030)
- Sealed Lead Acid (SLA)
- Nickel Metal Hydride (NiMH)
- Lithium-Ion (Li-Ion)
- Voltage Type Insights (Revenue, USD Million, 2017-2030)V
- Greater than 48V
- Regional Insights (Revenue, USD Million, 2017-2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Who shall buy this report?
- Electric scooter manufacturers, suppliers & vendors
- Investment firms
- Private consulting & advisory companies
- Government body & private associations