Electric Scooter Market Report Share and Growth 2024-2032

Global Electric Scooter Market Analysis

The global electric scooter market is experiencing significant growth, driven by factors such as the rising demand for sustainable urban transportation solutions, cost-effectiveness and operational efficiency, and industry expansion in developing nations. The market was valued at US$ 24.67 billion in 2023 and is projected to reach US$ 50.78 billion by 2032, growing at a CAGR of 8.35% between 2024 and 2032.

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Market Drivers

  • Sustainable Urban Transportation Solutions: Electric scooters provide a practical and environmentally friendly alternative to traditional automobiles, meeting the increasing need for eco-friendly urban transportation options.
  • Cost-Effectiveness and Operational Efficiency: Electric scooters are more cost-effective than traditional autos, requiring less maintenance and gasoline. They are also becoming more affordable due to design enhancements and connectivity features.
  • Industry Expansion in Developing Nations: Fast urbanization and rising disposable income in developing nations are driving the demand for inexpensive and effective transportation solutions, leading to the growth of the electric scooter industry in these regions.

United States Electric Scooter Market

  • Sustainability Principles: The industry in the USA is committed to applying sustainability principles to develop its market and value. Manufacturers aim to contribute to creating a vision for the future of transportation and meet the expectations for the Powered Two-Wheeler sector.
  • Charging Infrastructure: Charging electric scooters is relatively easy and requires less infrastructure compared to electric cars. The presence of charging infrastructure is crucial for the growth of electric scooters in the market.
  • Challenges and Benefits: Electric scooters in the US face similar challenges as in other metropolitan areas, but they offer practical and efficient alternatives to automobiles, especially in congested urban areas.

Asia Pacific Electric Scooter Market

  • Rising Fuel Prices: The Asia-Pacific region is expected to dominate the market due to rising fuel and diesel prices globally, coupled with increased awareness of the environmental benefits of electric vehicles.
  • Government Initiatives: Government initiatives pertaining to e-mobility are expected to further drive the demand for electric scooters in the region.

Related Reports

Transportation Battery Market: https://www.renub.com/global-battery-market-by-transport-p.php

Electric Bus Market: https://www.renub.com/electric-bus-market-p.php

Electric Vehicle Market: https://www.renub.com/global-electric-vehicles-market-and-volume-plug-in-battery-hybrid-fuel-cell-motors-852-p.php

 

Key Players

  • Yadea Technology Group Co. Ltd
  • Niu Technologies
  • Mahindra
  • Vmoto Limited
  • Amper Vehicles
  • BMW Motorrad International
  • Gogoro Inc.
  • Govecs Group
  • Hero Electric
  • Zhejiang Luyuan Electric Vehicle Co Ltd

Market News

  • Riley Scooter: Plans to introduce RS3 Electric Scooter, a fully foldable electric scooter in the U.S.
  • Yamaha Motor Co., Ltd.: Invested in World of River Limited, Inc., a startup that manufactures and sells electric scooters in India.
  • Gogoro: Unveiled the Gogoro Crossover GX250, a domestically produced electric scooter in India.

The electric scooter market is poised for significant growth globally, driven by increasing urbanization, environmental concerns, and the need for sustainable transportation solutions.

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 14 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises major players in Healthcare, Travel and Tourism, Food Beverages, Power Energy, Information Technology, Telecom Internet, Chemical, Logistics Automotive, Consumer Goods Retail, Building, and Construction, Agriculture. Our core team is comprised of experienced people holding graduate, postgraduate, and Ph.D. degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science, and many more.

 

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