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Electric Scooters Market Size Worth $42.0 Billion By 2030

Published On: September 14, 2020

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)
    • Retro
    • Standing/Self-Balancing
    • Folding

Battery Type (Revenue, USD Million, 2016 - 2030)
    • Sealed Lead Acid
    • NiMH
    • Li-Ion

Voltage Type (Revenue, USD Million, 2016 - 2030)
    • 24V
    • 36V
    • 48V
    • Greater than 48V

Regional Outlook (Revenue, USD Million, 2016 - 2030)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • Japan
        • India
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa