Electric Scooter Market by Vehicle (E-Scooter/Moped, E-Motorcycle), Voltage (36V, 48V, 60V, 72V, Above 72V), Motor Type (Hub and Mid-drive), Battery (Li-ion and lead acid), Motor Power, Technology, Vehicle Class, Usage & Region - Global Forecast to 2030
The global electric scooter market size was valued at USD 4.3 billion in 2024 and is expected to reach USD 12.4 billion by 2030, at a CAGR of 18.9% from 2024 to 2030. Many factors, such as the development of the infrastructure for charging, the increasing acceptability of electric scooters in developed countries, and the growing focus on environmental sustainability, are projected to contribute to the large growth in demand for these vehicles. Governments everywhere are pushing electric vehicles (EVs) hard to lessen the pollution that comes from conventional gasoline-powered cars. This has resulted in significant expenditures in charging infrastructure and increased market viability for electric scooters and motorbikes. The market is expanding due to rising fuel prices and the demand for energy-efficient transportation solutions.
New developments in the electric scooter market include lightweight raw materials, regenerative braking, IoT-enabled electric scooters, and smart manufacturing. These developments are expected to impact the current revenue mix of the electric scooter market. The next hot bets include swapping stations, faster charging stations, fuel cell electric scooters, solar recharging techniques, and solid-state batteries.
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Market Dynamics:
Driver: Increase in Battery Technology to enhance the driving range
One important part of an electric scooter is the battery. International research and development activities primarily focused on the electric scooter category are centred around technological advancements in batteries, particularly with regard to their charge density, which makes them more competitive and extractable. Manufacturers now give a range of charging options, such a vehicle refuelling portable charger that can be used in public spaces. Furthermore, charging stations are placed inside homes for convenience. The benefits of sustainable transportation are causing more people to become aware of the rapid advancements in EV battery technology. The battery manufacturers is focusing on developments in silicon anode, lithium-ion, and solid-state batteries as well as lithium-sulfur batteries. The three main areas of study are future improved lithium-ion (lithium metal, including lithium-sulfur and lithium-cobalt) batteries, standard lithium-ion batteries, and advanced lithium-ion employing an intermetallic anode (silicon alloy composite). The issue of range restriction in electric two-wheelers will be resolved by such quick advancements in battery technology, pushing consumers to favor electric scooters and motorbikes.
Restraint: Complaints with battery heating and lengthy charging times
Most makers of electric two-wheelers utilize lithium-ion batteries. Although lithium-ion batteries can store a lot of energy in a small space, they have a propensity to heat up quickly, and many of them catch fire in the case of a malfunction. Overheating can be caused by several factors. Lithium is a volatile substance. When the separator is positioned between the cathode and anode of the battery, a short circuit occurs. There have been many instances of electric motorcycles and scooters catching fire in India. For example, an electric scooter that was left parked in a house's garden in Tamil Nadu, India.
The Indian government ask manufacturers to postpone the launch of any new models due to the rise in battery- related fires in all-electric two-wheeler. Another concern is the possibility of battery explosions during inclement weather specially in summer, collisions, or accidents. A faulty battery has the potential to explode and release a lot of heat. This heat, which is referred to as "thermal runaway," can kill neighboring cells and trigger a domino effect. Another crucial factor to take into account is how long it takes to recharge electric scooters and motorbikes. Individuals are accustomed to filling up classic cars really rapidly.
Opportunity: Government agencies supporting electric two-wheelers
The electric scooters sales is expected to expand over time with growing backing from international as well as domestic governments. Many nations, like the France and Germany, have realised that switching to electric cars is crucial to lowering vehicle emissions. The Indian government plans to stop producing ICE two-wheelers under the 150 cc class by 2025. Other countries are enacting similar policies and strategies to promote the usage of electric two-wheelers. Even emerging nations have shown their dedication to promoting the usage of electric two-wheelers by enacting new legislation and modifying existing ones. Many nations have established organizations, organizations, and laws to promote the expansion of their markets. Furthermore, they have granted import-export rights and tax benefits to firms.
Challenge: Inadequate standardization, interchangeability, and compatibility
The market for electric scooters and motorcycles has been significantly constrained by the lack of standardized charging infrastructure. To create a supportive ecosystem and boost sales of electric two-wheelers, governments must standardize charging infrastructure. Private players must also devise and implement strategies to meet this challenge and build an ecosystem that will promote the expansion of electric two-wheelers. The demand for standardizing the infrastructure for charging has been heightened by factors like the expansion of the market for electric motorcycles and scooters and the variation in charging loads. charging stations work with a specific voltage type. For instance, level 1 AC charging stations deliver a voltage of 120 VAC, while level 2 AC charging stations deliver 208/240 VAC. On the other hand, DC charging stations use 480 VAC to deliver quick charging.
Due to the fast-growing dynamics of the electric two-wheeler market globally, there are many local unregistered market entrants that are importing electric two-wheelers from countries like Taiwan and China at comparatively lower prices without quality checks, creating a threat to the users of the products. Apart from this, the launch of new models to gain market share without proper testing, resulting in the underperformance of the vehicles, has caused a sense of doubt among customers about the adoption of EVs.
The two significant factors that challenge the implementation of charging infrastructure are the type of chargers used and their location. The lack of standardization of chargers across countries may slow down the growth of the electric scooter market. Some firm policies and market checks at the government's end would help resolve these challenges in the coming years.
Market Ecosystem
To propel the market, better battery technology and infrastructure for charging are required.
Battery alternatives with a voltage of 72 V often give greater power than those with a voltage of 36 V or 48 V. Better acceleration at greater speeds results from this. In situations when maximum performance is needed, 72 V batteries are typically chosen. These batteries are mostly used in high-performance electric motorcycles. Recent advancements in lithium-ion battery technology may allow manufacturers to address the high energy-to-weight ratio of high voltage batteries, such the 72 V. The 72 V battery-operated Photon electric scooter is made by Hero Electric. for those that wish to maintain performance without compromising. To meet the market's need for high-voltage electric scooters and motorbikes, automakers are launching new car types. For example, at the EICMA 2023 Milan motorbike Show in November 2023, Yadea Technology Group Co., Ltd.
debuted the Yadea Kemper electric motorbike. With a 72 V battery, the motorcycle's centrally located motor can provide 40 kW of peak power and 23 kW of continuous power, allowing it to reach a high speed of 160 km/h (99.4 mph).
Dominant use case in cities for short commutes to drive market
Electric two-wheelers were initially thought of as an alternative to daily metropolitan transportation. As a result, many electric motorcycles and scooters have a range of fewer than 50 miles. Within the electric scooter market, a significant category caters to riders seeking a convenient and eco-friendly option for shorter commutes and everyday errands. With a focus on portability and agility, economy scooters typically have a range of fewer than 75 miles between charges. Moreover, in comparison with their extended-range counterparts, the shorter range translates into a more affordable price point. This market niche prioritizes price and utility above longer travel choices, catering to a specific user base with shorter commutes.
Electric scooters and motorbikes typically have a range of fewer than 75 miles. For example, the G5 electric scooter by Yadea Technology Group Co., Ltd., the Hero Electric Optima Series & Flash Series, and Shiny from Jiangsu Xinri E-Vehicle Co., Ltd. have a range of less than 75 miles.
Asia Pacific is the largest market for electric scooter during the forecast period.
The electric scooter market has witnessed rapid year-on-year growth in the Asia Pacific region, which comprises some of the fastest-developing economies globally, such as China, Japan, and India. The electric scooter market has witnessed rapid growth year-on-year in the Asia Pacific region. India is one of the largest markets for electric scooters. Apart from the manufacturers recognizing the growth potential of the electric scooter market, the positives of electrification of two-wheelers, such as noise-free operation and low maintenance cost, have led to an increase in the development of electric two-wheelers over the years, catering not only to domestic demand but overseas demand as well. The increasing need for energy-efficient mobility in the region, together with further initiatives from the public and private sectors, is another driver of the market's growth. For instance, e-motorcycles built in Thailand with batteries that are less than 3 kWh are eligible for a USD 275 subsidy from the Thai government.
Key Market Players
The Electric Scooter market is dominated by established players such as Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) and others. These companies manufacture and develop new electric scooters as per the market requirement. These companies adopted strategies such as product developments, deals, expansion and others to gain traction in the market.
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|
Report Metric |
Details |
|
Market size available for years |
2019–2030 |
|
Base year considered |
2023 |
|
Forecast period |
2024-2030 |
|
Forecast units |
Volume (Thousand Units) and Value (USD Million) |
|
Segments Covered |
Vehicle type, Motor Power, Motor type, Battery Type, Usage, Technology Type, Voltage Type, Distance Covered, Vehicle Class and Region |
|
Geographies covered |
Asia Pacific, Europe, and North America |
|
Companies Covered |
Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) |
This research report categorizes the electric scooter market based on Vehicle type, Motor Power, Motor type, Battery Type, Usage, Technology Type, Voltage Type, Distance Covered, Vehicle Class and Region.
Based on Vehicle Type:
- E-scooters/Mopeds
- E-motorcycles
Based on Battery Type:
- Sealed Lead-acid
- Lithium-ion
Based on Technology Type:
- Plug-in
- Battery
Based on Voltage Type:
- 36V
- 48V
- 60V
- 72V
- Above 72V
Based on Distance Covered:
- Below 75 miles
- 75– 100 miles
- Above 100 miles
Based on Vehicle Class:
- Economy
- Luxury
Based on Usage:
- Private
- Commercial
Based on Motor Type:
- Hub Motors
- Mid-drive Motors
Based on Motor Power:
- Less than 1.5 kW
- 1.5–3 kW
- Above 3 kW
Based on the region:
-
Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Malaysia
- Vietnam
- Philippines
-
North America
- Canada
- US
-
Europe
- France
- Germany
- Spain
- Austria
- UK
- Belgium
- Netherlands
- Italy
- Poland
- Denmark
Recent Developments
- In April 2024, Ola Electric launched the S1 X scooter range, which includes 2 kWh, 3 kWh, and 4 kWh variants. The S1 X 4 kWh has a range of 190 km and can go from 0 to 14 km/h in 3.3 seconds.
- In April 2024, Ather Energy introduced the Ather Rizta electric scooter with a 2.9 kWh battery, offering a range of 123 km.
- In March 2024, Yadea Technology Group Co., Ltd. announced its plan to invest 352.0 million yuan (USD 49.4 million) to acquire the entire shares of Wuxi Lingbo Electronic Technology Co., Ltd., which specializes in the research, development, manufacturing, and sales of intelligent control system solutions. This acquisition will strengthen Yadea's technical capability and supply chain vertical integration in the electric two-wheeler industry, develop global markets, and lower production costs.
- In December 2023, Gogoro opened a battery-swapping network in Delhi and Goa and plans to expand to Mumbai and Pune, Maharashtra, in the first half of 2024.
- In November 2023, Vmoto Limited exhibited and launched new products, the APD e-motorcycle, the CPX Explorer e-moped, and a battery-swapping and charging station, at 2023 EICMA.
- In March 2023, Hero Electric announced plans to increase its production capacity to 5 lakh units and meet market demand in the next 2–3 years with a new facility in Rajasthan, India. The company also plans to set up a greenfield plant in Rajasthan with an annual production capacity of 20 lakh units.
Frequently Asked Questions (FAQ):
What is the current size of the electric scooter market by value?
The size of the electric scooter market is estimated to be USD 4.3 billion in 2024.
Who are the winners in the electric scooter market?
The electric scooter market is dominated by established players such as Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) and others. These companies manufacture advance and high range electric scooter to cater the need of the market. These companies adopted strategies such as product developments, deals, expansion and others to gain traction in the market.
Which region will have the fastest-growing market for electric scooter market?
North America will be the fastest-growing electric scooter market region as the demand for high performance electric motorcycle and advanced charging infrastructure support the market growth over the forecast period.
What are the new market trends impacting the growth of the electric scooter market?
The key trends impacting the growth of the electric scooter market are government initiatives promoting electric vehicle adoption including e-scooter/mopeds, and advancement in battery technologies and charging system such as battery swapping and among others.
What countries cover the electric scooter market in the North American region?
The countries covered in the report for the electric scooter market are the US and Canada. .
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This research study involved the extensive use of secondary sources, such as company annual reports/presentations, industry association publications, automotive magazine articles, directories, technical handbooks, the World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the Electric Scooter market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players (electric scooter and motorcycle manufacturers and suppliers), and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess market prospects.
Secondary Research
In the secondary research process, various secondary sources were used to identify and collect information on the electric scooter market for this study. Secondary sources include annual reports, press releases, and investor presentations of companies; whitepapers, certified publications, and articles from recognized authors; directories; databases; and articles from recognized associations and government publishing sources.
Primary Research
Extensive primary research was conducted after understanding the electric scooter market scenario through secondary research. Several primary interviews were conducted with market experts from both demand-side vehicle manufacturers [(in terms of component supply) country-level government associations and trade associations] and supply-side OEMs and component manufacturers across three major regions, namely, North America, Europe, and Asia Pacific. Approximately 30% and 70% of primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in the report.
In the canvassing of primaries, various departments within organizations, such as sales, operations, and marketing, were covered to provide a holistic viewpoint in the report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from primaries. This, along with the opinions of in-house subject matter experts, led to the findings, as described in the remainder of this report.
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Market Size Estimation
A detailed market estimation approach was followed to estimate and validate the value and volume of the electric scooter market and other dependent submarkets, as mentioned below:
- The market size was derived by collecting sales of electric two-wheelers (electric scooters/mopeds and electric motorcycles) through associations and paid databases.
- Key players in the electric scooter market were identified through secondary research, and their global market share was determined through primary and secondary research.
- The research methodology included the study of annual and quarterly financial reports, regulatory filings of major market players, and interviews with industry experts to gain detailed market insights.
- All major penetration rates, percentage shares, splits, and breakdowns for the market were determined through secondary sources and verified through primary sources.
- All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
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Data Triangulation
All percentage shares, splits, and breakdowns were determined using secondary sources and verified by primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.
Market Definition
Electric scooters and motorcycle are plug-in two-wheeled vehicles that use electric motors to attain locomotion. The electricity is stored in a rechargeable battery, which drives the electric motors. These vehicles are zero-emission electric motor-driven vehicles. The operating speed and top speed of electric two-wheelers are based on battery technology.
Scooters and mopeds are easy-to-operate two-wheelers with a step-through frame and a platform for the user’s feet. They are affordable, lightweight, and easy to commute on. On the other hand, motorcycles are heavier, faster, and bigger than scooters and mopeds. Depending on the requirement, these two-wheelers have different body designs and frames from scooters and mopeds. The electric versions of scooters and motorcycles are powered by electricity stored in their batteries.
List of Key Stakeholders
- Associations, Forums, and Alliances of Electric Scooters and Motorcycles
- Automobile Manufacturers
- Automotive Component Manufacturers
- Automotive Investors
- Battery Distributors
- Battery Manufacturers
- Charging Infrastructure Providers
- Charging Service Providers
- Distributors and Retailers of Electric Two-wheelers
- Electric Two-wheeler Charging Station Service Providers
- Electric Two-wheeler Cable Manufacturers
- Government Agencies and Policymakers
- Manufacturers of Electric Two-wheelers
- Manufacturers of Electric Two-wheeler Charging Poles
- Manufacturers of Electric Two-wheeler Components
- Raw Material Providers
Report Objectives
- To segment and forecast the electric scooter market size in terms of volume (thousand units) and value (USD million/billion)
- To define, describe, and forecast the market based on vehicle type, battery type, voltage type, vehicle class, technology type, distance covered, usage, motor type, motor power, and region.
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To segment and forecast the market by battery type [sealed lead-acid (SLA) and lithium-ion
(Li-ion)] - To segment and forecast the market by vehicle type (e-scooters/mopeds and e-motorcycles)
- To segment and forecast the market by voltage type (36 V, 48 V, 60 V, 72 V, and above 72 V)
- To segment and forecast the market by technology type (plug-in and battery)
- To segment and forecast the market by distance covered (below 75 miles, 75–100 miles, and above 100 miles)
- To segment and forecast the market by vehicle class (economy and luxury)
- To segment and forecast the market by usage (private and commercial)
- To segment and forecast the market by motor type (hub motors, mid-drive motors, and others)
- To segment and forecast the market by motor power (less than 1.5 kW, 1.5–3 kW, and above 3 kW)
- To forecast the market size with respect to key regions, namely, North America, Europe, and Asia Pacific
- To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
- To analyze technological developments impacting the market
- To analyze opportunities for stakeholders and the competitive landscape for market leaders in the electric scooter market
- To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market.
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To strategically profile key players and comprehensively analyze their market share and their core competencies.
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To study the following with respect to the market:
- Supply Chain Analysis
- Ecosystem Analysis
- Technology Analysis
- HS Code
- Case Study Analysis
- Patent Analysis
- Regulatory Landscape
- Conferences and Events
- Total Cost of Ownership
- Bill of Materials
- Average Selling Price Analysis
- Buying Criteria
- To track and analyze competitive developments such as product developments, deals, and others undertaken by the key industry participants
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To study the following with respect to the market:
Available Customizations
With the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.
- Electric scooter market, by battery type at country level (for countries covered in the report)
- Profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Electric Scooter Market
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