E-Scooters Market Projected to Reach USD 40.37 Billion, with a CAGR of 7% by 2030 – Report by Market Research Future (MRFR)
E-Scooters Market Growth Accelerated by Increase In Demand Due To Rising Urbanization & Population, Cost-Effective And Environmentally Friendly Nature
New York, US, May 22, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Research Report by Market Research Future (MRFR), “E-Scooters Market Information by Battery Type, Technology, Voltage, and Region – Forecast till 2030”, E-Scooters Market could thrive at a rate of 7% between 2022 and 2030. The market size will be reaching around USD 40.37 Billion by the end of the year 2030
E-Scooters Market Overview
Electric scooters or E-Scooters are two-wheeled vehicles that use an electric motor to provide propulsion. They are similar in appearance to traditional gas-powered scooters but run on rechargeable batteries. E-scooters are increasingly being used as an eco-friendly mode of transportation, especially in urban areas. They are lightweight, easy to maneuver, and require minimal maintenance, making them an attractive alternative to cars and traditional bicycles.
E-scooters have a variety of applications, from personal transportation to commercial use. They are often used for short commutes, running errands, and leisure activities. In some cities, e-scooters are rented through smartphone apps, making them an affordable and convenient option for many people. E-scooters are also used in the tourism industry, with rental companies offering sightseeing tours in major cities.
Market Competitive Landscape:
The affluent companies in the E-Scooters industry include
- Gogoro Inc
- Vmoto Limited
- Terra Motors Corporation
- Jiangsu Xinri Electric Vehicle Co. Ltd
- Amego Electric Vehicles Inc
- NYCeWheels
- GOVECS GmbH
- Ampere Vehicles Pvt. Ltd
- Hero Electric Vehicles Pvt. Ltd.
- Mahindra GenZe
- Kumpan Electric
- Torrot Group
- Ather Energy
- Among others.
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April 2021
Lime announced its plans to expand its operations to 25 new cities in Europe by the end of the year. The expansion is part of Lime’s goal to become a leader in sustainable urban transportation and to help cities transition away from car-centric transportation models.
E-Scooters Market COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the E-Scooters Market. While the pandemic has led to a decrease in demand for shared e-scooters due to concerns about transmission, it has also increased demand for personal e-scooters as people look for alternative modes of transportation to avoid public transportation.
In the post-COVID scenario, the E-Scooters Market is expected to continue growing as people continue to seek out alternative modes of transportation. However, safety concerns and regulations may continue to be a challenge for the market.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 40.37 billion |
| CAGR during 2022-2030 | 7.00% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Battery Type, Technology, Voltage, and Region |
| Key Market Opportunities | Increasing awareness regarding electric vehicles across the world |
| Key Market Dynamics | Reducing cost of electric scooters and motorcycles Supportive government initiatives |
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E-Scooters Market USP Covered:
Market Drivers:
The e-scooters market is experiencing significant growth due to several factors. Firstly, the demand for eco-friendly transportation options is increasing as individuals and governments alike become more conscious of the need to reduce carbon emissions and promote sustainable living. E-scooters offer an eco-friendly alternative to gas-powered vehicles, making them an attractive option for environmentally conscious consumers.
Secondly, rising fuel prices are driving demand for alternative transportation options that are more cost-effective and efficient. E-scooters are a cheaper mode of transportation compared to cars and can help individuals save on fuel costs.
Another driving factor for the e-scooters market is the need for efficient and convenient transportation options in urban areas. E-scooters are lightweight and easy to maneuver, making them ideal for navigating congested urban environments. In addition, e-scooters are faster than walking, making them a more efficient mode of transportation for short trips.
Furthermore, the popularity of ride-sharing services such as Uber and Lyft is driving the demand for e-scooters. Many ride-sharing companies are adding e-scooters to their fleets, allowing customers to choose from a variety of transportation options.
Market Restraints:
While the e-scooters market is experiencing significant growth, several market restraints can limit its growth potential. One of the primary concerns is safety. The lack of safety regulations and standards for e-scooters has led to accidents and injuries, raising concerns among consumers and authorities. The increasing number of accidents caused by reckless riding has led to some cities banning or limiting their use. Manufacturers and authorities are working to develop safety standards and regulations for e-scooters to ensure their safe and responsible use.
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Another market restraint is the high cost of e-scooters compared to traditional bicycles or public transportation. E-scooters are still relatively expensive, which can be a barrier for some consumers, particularly those who are price-sensitive. Additionally, the cost of maintaining e-scooters, including charging and repairs, can also add to the overall cost of ownership. Manufacturers and policymakers are working to develop more affordable and sustainable transportation options to overcome this barrier and increase the adoption of e-scooters.
E-Scooters Market Segmentation
By Battery Type
The Battery Type in the market includes Sealed Lead Acid, Li-Ion, and Ni-MH.
By Technology
The Technology in the market includes Plug-in and Battery Operated.
By Voltage
The Voltage in the market includes 36V, 24V, 48V, and More than 48V.
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Regional Insights
The E-Scooters Market is expected to see significant growth in North America, Europe, and Asia-Pacific. In North America, the market is driven by the increasing demand for eco-friendly transportation options and the popularity of ride-sharing services. In Europe, the market is driven by government initiatives to promote sustainable transportation, while in Asia-Pacific, the market is driven by the need for efficient and affordable transportation options in densely populated urban areas.
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