Electric Scooters Market Size to Worth USD 80.5 Billion at a CAGR of 10.1% by 2032 | Research by SNS Insider

The Electric scooter market has substantial growth, due to the adoption of sustainable transportation solutions & high demand for a cost-effective mobility

AUSTIN, TX, UNITED STATES, November 21, 2024 /EINPresswire.com/ --

Electric Scooters Market

The Electric Scooters Market was valued at USD 37.3 billion in 2023 and is expected to reach USD 80.5 billion by 2032, growing at a CAGR of 10.1% over the forecast period from 2024 to 2032.

Electric Scooters are Revolutionizing Urban Mobility with Sustainable and Convenient Transportation.

Electric scooters are increasingly looked upon with practicality for urban mobility. It has a platform on which the rider stands, handlebars to steer, and an electric motor that works from rechargeable lithium-ion batteries. Additionally, it folds easily so it can be carried about. The range and speed of this scooter can be determined by the capacity of the batteries. The speed varies between 15 to 30 miles per hour (24 to 48 km per hour). However, the actual ranges depend on the capacity of the battery, the rider's weight, and other factors. Hence, it might vary from 10 miles to over 40 miles for every charge. Charging times vary, but generally, it takes a few hours to have a scooter fully charged. Safety is paramount, and riders are encouraged to wear helmets and obey whatever local traffic laws exist.

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Key Players Listed in Electric Scooters Market Are:

• BMW Motoradd international
• BOXX Corp
• Gogoro
• Green energy Motors
• Greenwit technologies
• Honda Motor
• KTM AG
• Mahindra GenZe
• AllCell Technologies
• Jiangsu Xinri E-Vehicle and others.

Electric Scooters are Sustainable and Cost-Effective Solutions to Urban Mobility Challenges.

Massive hurdles in urban mobility along with rising awareness regarding environmental issues have influenced the overall rise in demand for electric scooters. Here, e-scooters make for an efficient, eco-friendly alternative to traditional vehicles and public transport for last-mile connectivity in crowded cities which is quick and pocket-friendly. They do not release harmful pollutants, so they are the best option for this category of consumers. Starting to look at the pollution and climate-change awareness, people have started opting for electric scooters as a greener transport alternative. In addition, lower operating costs compared to petrol-based transport and the government's incentive support the growth in the market.

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Electric Scooters Market Segment Analysis

By Battery Type

The dominant player in the market is a lithium-ion battery with higher energy efficiency, longer lifespans, and faster charging. They make electric scooters achieve higher ranges and provide higher speeds than traditional lead-acid batteries, which are now used by some budget models, hence limited growth, on account of their heavier weight and shorter lifespan.

By Drive Type

Hub motor is the leading segment in the Electric scooter market. This is much more compact, efficient, and quiet as opposed to the belt drive mechanism that needs servicing periodically and is heavier than the hub motors. Hub motors outperform the other systems and better convert energy for an electric scooter due to higher torque values, thus suitably more suitable for electric scooters. In most middle-range and high-end models, this trend has taken over, making the market mainly in favor of hub motors.

Electric Scooters Market Key Segmentation:

By Battery

• Lithium Ion
• Lead-Acid

By Drive Type

• Belt Drive
• Hub Motor

By End Use

• Personal
• Commercial

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Regional Development

Asia-Pacific (APAC) dominates the Electric Scooters market, driven by solid demand originating from developed countries like Japan as well as emerging economies like China and India. Easy availability of all components required to manufacture the scooter are the other factors giving the region an edge wherein most of the critical components are manufactured locally. Contributions to major share derive from China's established production capacity and increasing inclination toward environment-friendly mobility solutions from India. With increasing urbanization and a shift towards environment-friendly alternatives, these countries are likely to continue to serve at the growth drivers of the market.

Growth trends in North America and Europe are still promising, but APAC's massive manufacturing base and excellent rates of adoption give it a huge lead in market share. The region's continued investment into the infrastructure needed to support electric vehicles along with incentives means their leading position is supported by this aspect as well.

Recent Developments

November 2024: Honda Motorcycle and Scooters will bring in a new two-wheeler on 27 November. The Japanese car maker has sent us a media invite for a possible unveiling of the company or launch of a new two-wheeler. This will be the first electric two-wheeler from Honda Motorcycles in India and would likely be a battery-powered scooter.

November 2024: ZELIO Ebikes launches the X-MEN 2.0 on November 12, 2024. The scooter comes in four variants and offers a range of up to 100 kilometers. It has a top speed of 25 km/h. The X-MEN 2.0 is available in four colors. ZELIO plans to expand its dealership network to 400 by March 2025.

Table of Contents

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Electric Scooters Market, By Battery
9. Electric Scooters Market, By Drive Type
10. Electric Scooters Market, By End Use
11. Regional Analysis
12 Company profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion

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