Electric Scooter Market Size, Share, Growth Analysis, By Battery Technology, By Distance Covered, By Voltage, By Technology, By Region-Industry Forecast 2024-2031

Global Electric Scooter Market size was valued at USD 30.18 billion in 2022 and is poised to grow from USD 33.17 billion in 2023 to USD 70.58 billion by 2031, growing at a CAGR of 9.9% in the forecast period (2024-2031).

The electric motorcycle and scooter market is experiencing rapid growth driven by increasing environmental concerns, rising fuel costs, and the need for urban mobility solutions. Governments worldwide are promoting electric vehicles through incentives and policies, further accelerating market expansion. Additionally, advancements in battery technology and charging infrastructure are enhancing the range and convenience of electric motorcycles and scooters, making them a viable alternative to traditional combustion engine vehicles. The increasing adoption of shared mobility services, such as scooter and bike-sharing platforms, is also contributing to market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electric Scooter Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Electric Scooter Market Segmental Analysis

Global electric scooter market is segmented based on battery technology, distance covered, voltage, technology, vehicle class, vehicle type, motor type, motor power and region. Based on battery technology, the market is segmented into Sealed Lead Acid, Lithium-ion, Nickel Metal Hydride and Sodium-ion. Based on distance covered the market is segmented below 75 miles, 75 - 100 miles and above 100 miles. Based on voltage, the market is segmented into 24V, 36V, 60V, 72V and above 72V. Based on technology the market is segmented into plug-in and battery. Based on vehicle class the market is segmented into economy and luxury. Based on vehicle type the market is segmented into e-scooters/moped and e-motorcycles. Based on usage the market is segmented into private and commercial. Based on motor type the market is segmented into mid-drive motors and hub motors. Based on motor power the market is segmented into less than 1.5 KW, 1.5-3 KW and above 3 KW. Based on region, the market is segmented into North America, Asia Pacific, Europe, Latin America and MEA.

Drivers of the Global Electric Scooter Market

The electric motorcycle and scooter market is experiencing robust growth driven by several factors. Increasing urbanization, traffic congestion, and rising fuel prices are driving consumers towards more efficient and sustainable transportation options. The convenience of micro-mobility services, coupled with growing environmental concerns, has led to a surge in demand for electric two-wheelers. As governments worldwide prioritize sustainable transportation, the market is expected to witness continued expansion in the coming years.

Restraints in the Global Electric Scooter Market

The development of a robust charging infrastructure is a critical challenge hindering the widespread adoption of electric scooters and motorcycles. While manufacturers are making efforts to provide charging solutions, the availability of public charging stations remains insufficient in many regions. The lack of convenient charging options can discourage potential buyers and limit the range of electric vehicles, impacting market growth. To accelerate the transition to electric mobility, governments and industry stakeholders must invest in building a comprehensive charging infrastructure.

Market Trends of the Global Electric Scooter Market

Battery costs are a critical factor influencing the affordability and adoption of electric motorcycles and scooters. As batteries account for a significant portion of the overall vehicle cost and require periodic replacement, their price directly impacts consumer affordability. The ongoing decline in lithium-ion battery prices is a positive development for the industry, as it brings electric vehicles closer to price parity with traditional combustion engine counterparts. Continued advancements in battery technology and economies of scale in battery production are expected to further drive down costs, making electric two-wheelers a more attractive option for consumers.