Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Electric Scooters Market Size Expected to Grow from USD 38.24 Billion in 2023 to USD 102.07 Billion by 2033, at a CAGR of 10.32% during the forecast period 2023-2033.
The global electric scooter market refers to the industry involved in the focused on the manufacturing, marketing, and distribution of two-wheeled vehicles with batteries for both personal and business use. Government subsidies supporting electric mobility, growing environmental concerns, rising fuel prices, and battery technological breakthroughs are some of the drivers this sector. Key driving factors for the growth of the electric scooter market include the need to lower carbon emissions and raise environmental consciousness, increased demand for environmentally friendly transportation options. Around the world, governments are encouraging this change by providing tax breaks, subsidies, and infrastructure investment for charging stations. However, the high initial cost, since pricey batteries and cutting-edge technology make electric scooters more expensive than conventional gasoline-powered ones.
The Li-Ion segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
On the basis of battery, the global electric scooters market is divided into lead acid, Li-Ion, and other. Among these, the Li-Ion segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The growth can be attributed to superior charging-discharging efficiency, lightweight design, and high energy density. Additionally, these batteries are better for the and it will be ideal and alternatives choice for consumers.
The hub motors segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of drive type, the global electric scooters market is divided into belt drive, chain drive, and hub motors. Among these, the hub motors segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growth can be credited in contrast to other competing parts on the market, hub drives provide quieter operations, efficient power transmission, and less repair and maintenance.
The personal segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
On the basis of end-user, the global electric scooters market is divided into personal and commercial. Among these, the personal segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth can be attributed to their many advantages over other electric scooters, including being lightweight, inexpensive, eco-friendly, minimal maintenance, and readily manoeuvrable, electric scooters are transforming the personal vehicle market.
Asia Pacific is anticipated to hold the largest share of the global electric scooters market over the predicted timeframe.
Asia Pacific is anticipated to hold the largest share of the global electric scooters market over the predicted timeframe. Countries like China, Taiwan, and Japan are now home to the majority of electric scooter manufacturers, who hold the biggest market share globally. In addition to being the biggest buyer of electric scooters, China is now the biggest manufacturer and exporter of these vehicles. AIMA Group, Zhejiang Luyuan, Niu International, Yadea, and Jiangsu Xinri Electric Vehicle Co., Ltd. are among the vendors operating in the Chinese market. Additionally, the regional market is driven by rapid urbanization, the rising affordability of e-scooters, and consumer awareness of the need to adopt clean energy transportation to reduce vehicle emissions.
Europe is expected to grow at the fastest CAGR in the global electric scooters market during the forecast period. It is projected that increased funding for research into novel high-density batteries and infrastructure for charging electric vehicles will promote regional growth overall. Additionally, with the number of foreign electric scooter manufacturers entering the market growing rapidly, local vendors are concentrating on introducing a variety of electric scooter models to appeal to the younger demographic.
Company profiling
Major vendors in the global electric scooters market are BOXX Corp., Gogoro, Inc., Green Energy Motors Corp., Greenwit Technologies Inc., Honda Motor Co. Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., KTM AG, Mahindra GenZe, AllCell Technologies LLC, BMW Motorrad International, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global electric scooters market based on the below-mentioned segments:
Global Electric Scooters Market, By Battery
Global Electric Scooters Market, ByDrive Type
Global Electric Scooters Market, By End User
Global Electric Scooters Market, Regional
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