Meticulous Research

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  • 01-Jun-2021

Meticulous Research®a leading global market research company, published a research report titled “Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-scooters & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology (SLA, Li-ion, Li-ion Polymer), Motor Type, Charging Type, End-user— Global Forecast to 2028.

The electric scooter market is expected to grow at a CAGR of 29.4% by value from 2021 to reach $644.5 billion by 2028. By volume, this market is expected to grow at a CAGR of 21.2% from 2021 to reach 209.0 million units by 2028. This market is majorly driven by factors such as increasing adoption of electric motorcycles and e-bikes for short commutes, rising environmental concerns, and increasing investments by ride-hailing companies in the micromobility space. However, the high cost of electric motorcycles and e-scooters & bikes; and the short lifespan of batteries obstruct the growth of this market to some extent. Increasing theft and vandalism of e-bikes & e-scooters, poor cycling infrastructure in developing countries, and lack of regulations in electric motorcycles and micromobility space are major challenges for the growth of the electric scooter market.

The market is segmented based on vehicle type, power output, battery technology, motor type, charging type, end use, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on vehicle type, the electric scooter market is mainly segmented into electric motorcycles and e-scooters & bikes. By value, in 2021, the electric motorcycles segment is expected to account for the largest share of the electric scooter market. The large share of this segment is mainly attributed to increasing government policies for promoting electric mobility, growing awareness regarding the need to reduce greenhouse gas emissions and environmental pollution, rising demand for electric motorcycles among consumers, increasing gasoline prices, and stringent emission norms. However, the e-scooters & bikes segment is expected to grow at the highest CAGR during the forecast period.

Based on power output, the electric scooter market is segmented into less than 3.6kW, 3.6kW to 7.2kW, and 20kW to 100 kW. In 2021, the less than 3.6kW segment is expected to account for the largest share of the electric scooter market. The large share of this segment is mainly attributed to the increasing adoption of e-scooters & bikes for urban commute and recreational activities, rising initiatives by government authorities for increasing adoption of e-scooters & bikes, and increasing investments by ride-hailing companies for deploying e-scooters & bikes for micromobility. However, the 3.6kW to 7.2kW segment is expected to grow at the highest CAGR during the forecast period.

Based on battery technology, the electric scooter market is segmented into sealed lead-acid, lithium-ion, and lithium-ion polymer. The lithium-ion segment is expected to account for the largest share of the electric scooter market in 2021. The large share of this segment is mainly attributed to the high energy density of lithium-ion, decreasing prices of lithium-ion batteries, high energy efficiency, decent high-temperature performance, and low self-discharge. However, the lithium-ion polymers segment is expected to grow at the highest CAGR during the forecast period.

Based on motor type, the electric scooter market is segmented into hub and mid-drive motors. The hub motors segment is expected to account for the largest share of the electric scooter market in 2021. The large share of this segment is mainly attributed to factors such as increased power/speed, high torque, extended range per charge, and better vehicle handling due to lightweight design.

Based on end user, the electric scooter market is segmented into government institutions, academic institutes/universities, business organizations, micromobility service providers, and individuals. The business organizations segment is expected to account for the largest share of the electric scooter market in 2021. The large share of this segment is mainly attributed to the increasing government subsidies and support to promote electric mobility, increasing use of e-scooters & bikes by courier and e-commerce delivery personnel, and the growing implementation of mobility-as-a-service.

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Geographic Review

Geographically, the Asia-Pacific region is expected to account for the largest share of the electric scooter in 2021 by value as well as volume. The large share of this market is mainly attributed to the presence of major two-wheeler hub motor manufacturers, namely, Qs Motor, Mac Shanghai Electric Motor Company Ltd, TDCM, and NTN Corporation; high adoption rate of electric motorcycles and e-bikes in countries such as China, Japan, South Korea; and increasing adoption of electric motorcycles in emerging economies, such as India and Southeast Asian Countries.

Key Players

The key players operating in the electric scooter market are Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.), Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese & Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes (U.S.), Pedego Inc. (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang Minimotors Bike Co Ltd (China), Zero Motorcycle Inc. (U.S.), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd (India), Energica Motor Company (Italy), Revolt Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.).

Key Questions Answered in the Report-

  • Which are the high-growth market segments in terms of vehicle type, power output, battery technology, motor type, charging type, end use, and geography?
  • What is the historical market size for electric scooter across the globe?
  • What are the market forecasts and estimates for the period 2021-2028?
  • What are the major drivers, restraints, opportunities, and challenges in the electric scooter market?
  • Who are the major players in the market, and what are their market shares?
  • Who are the major players in various countries, and what are their market shares?
  • How is the competitive landscape for the electric scooter market?
  • What are the recent developments in the electric scooter market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the electric scooter market, and how do they compete with other players?

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