The global electric scooter market size is likely to account for USD 42.0 billion by 2030, as per a new report by Million Insights. The market is predicted to register 7.7% CAGR from 2020 to 2030. Growing focus on achieving zero-emission, favorable government initiatives and increasing investment to propel the sustainable mobility solution are driving the market growth. Owing to advancement in technology, e-scooters with improved efficiency and longer battery life have been introduced.
Government across the globe are offering incentives on the purchase of e-vehicles. Such initiatives work as a catalyst in the growth of the market. In addition, governments are investing a significant amount in the development of necessary infrastructure.
Depending on the battery, SLA batteries dominated the market in 2019. However, owing to the increasing popularity of Li-ion batteries, SLA segment is losing its market share. Li-ion battery is anticipated to register over 10% CAGR from 2020 to 2030. Moreover, these batteries are anticipated to witness significant price reduction in the near future, thereby, lowering the overall cost of the vehicle.
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Further key findings from the report suggest:
• In 2019, sealed lead acid battery accounted for the highest share in the E-scootersmarket. However, the growing popularity of Li-ion batteries are replacing SLA batteries.
• Greater than 48V batteries are likely to register over 11% CAGR from 2020 to 2030.
• In 2019, Asia Pacific led to the market with USD 13.9 billion of market value.
• North America is likely to register the highest CAGR of over 13% during the forecast period.
Million Insights has segmented the global electric scooters market report based on product, battery, voltage, and region:
Product Type (Revenue, USD Million, 2016 - 2030)
Battery Type (Revenue, USD Million, 2016 - 2030)
• Sealed Lead Acid
Voltage Type (Revenue, USD Million, 2016 - 2030)
• Greater than 48V
Regional Outlook (Revenue, USD Million, 2016 - 2030)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• Middle East & Africa