Global Electric Scooter Market - Growth, Trends, and Forecast (outlook to 2028)

The increasing fuel prices, surge in demand for fuel-efficient vehicles, growing apprehension over global warming, and favourable changes in the global lithium ion battery market are anticipated to drive the adoption of electric two-wheelers for daily commute globally. Easy manoeuvrability, quick acceleration, and lightweight make electric scooters suitable for everyone; hence there is an increasing demand for electric scooters.

Electric scooters further offer higher mechanical efficiency, low noise levels, and moderately low maintenance costs, making them favourable for daily commute. For instance, in India, a dominant two-wheeler market, Ola electric received bookings worth INR 1,100 Cr in two days of the booking window period. Even though the bookings do not necessarily translate to sales, it indicates the public's willingness to own an electric scooter.

The emission norms imposed by the governments such as the Euro standards, Bharat standards, China 5, US Environmental Protection Agency (US EPA) greenhouse gas emission standards, etc., coupled with increasing monetary and non-monetary incentives, are the major drivers for the electric scooter market.

The shared micro-mobility services are changing the way people commute, which align with the idea of making urban mobility more sustainable, e scooter sharing form a significant part of the shared micro-mobility fleet. According to North America Bike Share Association (NABSA), 16% of all the micro-mobility trips were to connect to the transit, and 50% of the riders reported that they use micro-mobility to connect to the transit. About 77 thousand electric kick scooters were deployed on an average day in North America in 2020.

The retro electric scooters dominate the global electric scooter market. The number of electric scooters sold in China reached 3,92,112, representing 59.9% year-over-year growth. The growth in China market was mainly driven by retail network expansion and promotion. The Company NIU technologies added 320 new stores in China during the third quarter of 2021. NIU technologies also provided sales discounts for selected models during the third quarter to attract new customers to adopt e-scooters for urban commute and encourage the replacement of outdated and non-compliant e-scooters.

Major Restraints to Electric Scooter Market Growth

• The high dependence of the electric scooter industry on battery sourcing
• High initial cost of the electric scooter relative to its Internal Combustion Engine (ICE) counterparts
• Lack of proper charging infrastructure  

These are considered the restraints to the growth of the global electric scooter market. Although the Covid crisis caused the global economic slowdown, disrupting the supply chain and forcing the temporary shutdown of many electric vehicle makers, it has imparted few positive outcomes. The increase in the environmental consciousness among people and demand for energy and cost-efficient individual mobility has increased due to the social distancing norms, perfectly matched by the electric scooters.

Opportunities in Electric Scooter Marketplace

The emergence of new business models such as battery as a service, vehicle as a service, etc., opens up new revenue streams. The charging infrastructure, which is in a nascent stage, is a great area to explore and diversify the revenue streams. 

Emerging economies such as Vietnam, which plans to revamp its transportation sector, offer an excellent opportunity for the global electric two wheeler market players to expand their business footprint.

Recent Developments in Electric Scooter Market

• Maharashtra announces an early bird discount of INR 5000/kW incentive for those who own an EV before December 31 2021. Max cap for incentive amount is 1 lakh and exemption of road tax till the duration of the policy.
• Lime, a shared mobility service provider, acquired Uber's JUMP (a micro-mobility service company specialized in electric kick scooter sharing)
• Hero MotoCorp and Gogoro (Leading EV charging network provider) announced strategic partnership to accelerate the electrification of transportation in India.
• Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd., announces its partnership with Autovert Technologies, a fintech specialization in EV subscription products. The collaboration led to a unique lithium ion battery subscription plan through an IoT-backed platform that will make electric scooters even more affordable.  

Blackridge Research's Global Electric Scooters Market report provides insights into the current global and regional market demand scenario and its outlook.

The study offers a detailed analysis of various factors instrumental in affecting the Electric Scooter market's growth. The study also comprehensively analyses the electric scooter market by segmenting it based on geography (North America, Europe, Asia Pacific, Rest of the World), by vehicle type (e-Kick Scooter, e- Retro Scooter, and e- Self Balancing scooter), and by battery type (li ion batteries and sealed lead acid batteries).

The report also addresses present and future market opportunities, trends, developments, Covid 19 impact on the electric scooter market, critical commercial developments, trends, regions, and segments poised for the fastest-growth, competitive landscape.

Further, electric scooters market size, demand forecast, growth rates, and trade (imports and exports) will also be provided in the report.