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The Global E-scooter Market size is estimated to grow by 4,261.82 thousand units at a Compound annual growth rate (CAGR) of 9.38% between 2022 and 2027. The market's growth hinges on various factors, notably the decreasing costs of Li-ion batteries, a trend spurred by advancements in technology and economies of scale. Simultaneously, the rise of e-scooter sharing services is fueled by urbanization, environmental concerns, and the quest for efficient urban mobility solutions. Governments worldwide are playing a pivotal role by offering incentives and subsidies to promote sustainable transportation options. This triad of factors, comprising affordable battery technology, the booming e-scooter sharing economy, and supportive governmental policies, underscores a broader societal shift towards eco-friendly and convenient modes of transportation.
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This market growth analysis report extensively covers market segmentation by battery type (sealed lead acid batteries and lithium-ion batteries), product (retro, standing/self-balancing, and folding), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market is rapidly evolving, driven by various factors, such as tax rebates that incentivize consumers to opt for electric scooters. Innovations like vehicle-to-grid technologies are reshaping the industry by allowing scooters to not only consume power but also contribute it back, promoting energy efficiency. Motorized scooters with electric motors are gaining popularity, offering a cleaner alternative to conventional scooters powered by fossil fuel engines. The proliferation of charging stations and advancements in power sources like Lithium-ion batteries are addressing concerns about range anxiety, particularly for E-mopeds used in urban areas. Battery technology plays a crucial role, with rechargeable scooter sharing services and solar power integration driving sustainability. As the market expands, there's a growing focus on reducing carbon emissions and improving air quality, with features like LED lights and electronic braking systems contributing to a lower carbon footprint.
The market share growth of the sealed lead acid batteries segment will be significant during the forecast period. In lead-acid batteries, the electrical energy is stored as chemical energy. As and when required, the chemical energy is converted into electrical energy. This conversion of chemical energy into electrical energy is referred to as the discharging of the battery. The conversion of electrical energy into chemical energy with an external electrical source is referred to as the charging of the battery. The key advantage of SLA batteries is their ability to combine hydrogen and oxygen to produce water and prevent water loss.
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The sealed lead acid batteries segment was valued at 4,083.84 thousand units in 2017 and continued to grow until 2021. The market mainly caters to price-sensitive customer segments. Sealed lead-acid battery scooters are likely to continue to lead the market despite the declining overall market share because of a rise in the adoption of Li-ion battery e-scooters.
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APAC is estimated to contribute 81% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Owing to concerns about pollution and urbanization that have increased traffic congestion in the country. Increasing environmental concerns and the growing focus on reducing vehicular emissions are leading to a rise in the adoption of e-scooters in the country. The Chinese government is supporting the adoption of e-scooters by laying down a clear distinction between e-scooters and e-scooters.
The e-scooters revolution is not only limited to China. The adoption of e-scooters in India, Indonesia, Thailand, Vietnam, and other Asian markets is growing. Manufacturers in the region are launching e-scooters with advanced features, such as a smartphone connectivity suite. In addition, there has been strong support from governments through subsidies and incentives for the purchase of e-scooters. These factors are expected to further drive down the demand for e-scooters in APAC during the forecast period.
The market is driven by tax rebates incentivizing eco-friendly transportation. Advancements like vehicle-to-grid technologies and smart charging enhance efficiency. Motorized scooters with electric motors are replacing conventional scooters, promoting zero-emissions and reducing the carbon emission gap. The shift to renewable energy and Lithium-ion batteries powers sustainability. Challenges include infrastructure development for charging stations, addressing range limitations in E-mopeds, and managing battery disposal for environmental impact mitigation. Market trends favor rechargeable scooter sharing, the adoption of solar power, and innovations like LED lights and electronic braking systems for enhanced safety and efficiency. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market experiences significant growth due to the decreasing prices of Li-ion batteries. Li-ion batteries play a crucial role in powering electric scooters, and their declining manufacturing costs positively impact market demand. Over the past decade, manufacturing costs for Li-ion batteries have rapidly decreased, driving their adoption in the e-scooter segment. As production scales up and manufacturing processes become more efficient, Li-ion battery costs are expected to decrease further, potentially by 35% by the forecast period's end. This reduction in cost facilitates the widespread adoption of Li-ion batteries in electric two-wheelers, even in cost-sensitive markets like APAC. The trend is expected to continue, driven by falling prices of battery-grade lithium carbonate and lithium hydroxide.
The development of high-performance e-scooters is one of the key market trends. The major driving factors for the growth of the high-performance electric two-wheeler market are the decline in battery prices, low operating and maintenance costs, subsidies and incentives offered by governments of different countries, and increasing awareness about the need to curb vehicular emissions.
Two-wheeler manufacturers have started investing in high-performance electric motorcycles. Mentioned below are a few initiatives undertaken by motorcycle manufacturers to develop high-performance electric motorcycles. The growing demand for e-motorcycles has propelled the above-mentioned manufacturers to invest in high-performance e-scooters. Hence, such factors are driving the market during the forecast period.
The high costs and maintenance complexities of e-scooters will be a major challenge impacting the market growth. The main challenge is the maintenance complexity of e-scooters. Most e-scooters have in-wheel motors where the motor is fitted to the hub of the wheel. As a result, the motor, braking components, and wheel are clubbed into a single unit. This design makes wheel replacement and repair challenging as the motor has to be removed completely while replacing the wheel or tire.
Although the design of in-wheel motors is not complex, there is still a high probability of potential damage to the in-wheel motors while replacing the tire. In addition, the number of service centers and skilled technicians for electric two-wheelers is limited compared with that of conventional IC engine-based two-wheelers. Hence, maintenance complexities limit the adoption of electric two-wheelers with in-wheel motors; this will be a challenge for the growth of the global e-scooter market during the forecast period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Niu Technologies - The company offers various electric scooters such as Nqi GT, NQi-SERIES, MQi-SERIES, and UQi-SERIES.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "thousand units" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
The market is witnessing a surge in demand driven by the global shift towards sustainable urban mobility solutions. With a focus on reducing carbon emissions and promoting zero-emission vehicles, electric scooters have become an integral part of the micro-mobility landscape. Key factors driving this market include the rise of electric scooter sharing services, which offer convenient and eco-friendly transportation options in urban areas. Governments are also playing a crucial role by providing tax rebates to encourage the adoption of alternative fuel vehicles and developing bicycle paths to support green commuting.
In addition, advancements in battery technology, such as Lithium-ion batteries and renewable energy stations, are enhancing the battery charging infrastructure, leading to the development of smart charging solutions and vehicle-to-grid technologies that optimize energy usage. The market landscape depends on E-vehicles Fossil fuel engines, Mechanical models, Public transport vehicles, Motor vehicles, Cars, Battery segment, NiMH batteries
Furthermore, innovations like easy-to-operate features, lightweight designs, smart transportation infrastructure, and electronic braking systems are making electric scooters a preferred choice for cleaner transportation and contributing to environmental sustainability. As cities focus on improving air quality and reducing greenhouse gas emissions, the market continues to expand, leveraging solar power, rechargeable battery sharing, and smart IoT technologies to provide efficient and eco-conscious individual transit options in the micro-mobility sector.
In addition, the market is experiencing a significant surge as cities worldwide prioritize zero-emissions transportation solutions to bridge the carbon emission gap and reduce fossil fuel consumption. Governments are incentivizing the adoption of electric vehicles through tax rebates and promoting electrification initiatives. The rise of scooter-sharing services has led to an expansion in electric scooters fleet, offering fuel-efficient and environmentally friendly alternatives to conventional gasoline-powered vehicles. Innovations in battery technology, such as Lithium-ion batteries and vehicle-to-grid technologies, are enhancing energy security and enabling rechargeable scooter sharing programs. Furthermore, electric scooters, including motorcycles, mopeds, and two-wheelers, are gaining popularity due to their lightweight and easy-to-operate features, powered by electric motors and hub motors. These advancements contribute to reducing the carbon footprint, Power source, and promoting sustainable modes of transportation. With the integration of smart technologies like LED lights, Big Data, and the Internet of Things (IoT), e-scooters are evolving into smart vehicles that offer efficient and connected mobility solutions for urban commuters and contribute to a cleaner environmental impact.
Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.38% |
Market growth 2023-2027 |
4,261.82 thousand units |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.34 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 81% |
Key countries |
US, China, Japan, Taiwan, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ather Energy Pvt. Ltd., Bajaj Auto Ltd., BMW AG, Bodo Vehicle Group Co. Ltd., Electrotherm Ltd, GOVECS AG, Greaves Cotton Ltd., Hero Electric Vehicles Pvt. Ltd, Honda Motor Co. Ltd, KWANG YANG MOTOR Co. Ltd., Mahindra and Mahindra Ltd., Niu Technologies, Okinawa Autotech Pvt. Ltd., Piaggio and C. Spa, Songguo New Energy Automobile Co Ltd, TVS Motor Co. Ltd., Vmoto Ltd., Yadea Group Holdings Ltd, Z Electric Vehicle Corp, and Zhejiang Luyuan Electric Vehicle Co Ltd |
Market dynamics |
Parent market analysis, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Battery Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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