E-Scooters Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The electric scooter market was valued at about $23.1 billion in 2022, and is projected to reach $47 billion by 2030, with a robust CAGR of 7.0% from 2024 to 2030. This growth reflects the growing trend towards sustainable and efficient urban mobility, which is driven by concerns about the environment and the need for cost-effective transport. With the growing urban population, electric scooters are expected to provide a practical solution to the problems of congestion and air pollution in cities. The electric scooter market is also driven by technological developments in batteries, which have increased the range and efficiency of electric scooters, and the increasing availability of charging stations. The growing number of electric scooters is also being pushed up by government initiatives to promote the use of electric vehicles through subsidies and other incentives. The major players in the market, such as Xiaomi, Ninebot, and Razor, are pursuing a strategy of innovation and expansion by entering into strategic alliances, launching new products, and investing in R&D to develop the next generation of electric scooters. The electric scooter market is expected to continue to grow at a steady pace in the coming years.

Regional Market Size

Regional Deep Dive

The electric scooters market is experiencing a high growth rate across the globe, owing to the rising urbanization, growing concerns over environment and rising demand for sustainable transport solutions. The market dynamics in North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America are influenced by local regulations, technological advancements, and consumers' preferences. Each region has its own opportunities and challenges, as well as the level of government support for electric mobility initiatives.

Europe

• European cities are increasingly adopting electric scooters as part of their green transport initiatives, with countries like France and Germany leading the way in regulatory frameworks that support shared mobility services.
• The European Union's commitment to reducing carbon emissions has spurred investments in electric scooter infrastructure, with companies like Tier and Circ expanding their operations, which is likely to boost market penetration.

Asia Pacific

• Asia-Pacific is witnessing rapid growth in the electric scooter market, particularly in countries like China and India, where urban congestion and pollution are driving demand for eco-friendly transportation options.
• Innovations in battery technology and manufacturing processes by companies such as Xiaomi and Ather Energy are making electric scooters more affordable and accessible, which is expected to significantly increase market adoption.

Latin America

• Latin America is seeing a surge in electric scooter usage, particularly in urban centers like São Paulo and Mexico City, where traffic congestion and pollution are major concerns.
• Local startups such as Grin and Yellow are leading the charge in providing electric scooter-sharing services, supported by government initiatives aimed at promoting sustainable urban mobility, which is likely to drive market expansion.

North America

• The rise of micromobility solutions in urban areas has led to increased adoption of electric scooters, with cities like San Francisco and New York implementing pilot programs to integrate scooters into public transportation systems.
• Companies such as Bird and Lime are expanding their fleets and services, while local governments are establishing regulations to ensure safety and manage scooter usage effectively, which is expected to enhance market growth.

Middle East And Africa

• In the Middle East, cities like Dubai are investing in electric scooter infrastructure as part of their smart city initiatives, promoting sustainable transport solutions to reduce traffic congestion.
• Regulatory frameworks are evolving, with governments encouraging the use of electric scooters through incentives and partnerships with companies like Careem, which is expected to enhance market growth in the region.

Did You Know?

“Did you know that electric scooters can reduce carbon emissions by up to 80% compared to traditional gasoline-powered vehicles, making them a key player in the fight against urban air pollution?” — International Energy Agency (IEA)

Segmental Market Size

Electric scooters are a significant part of the electric vehicle market, which is experiencing robust growth due to urbanization and the growing demand for sustainable transport solutions. Rising fuel prices have prompted consumers to seek cost-effective alternatives. In addition, supportive government policies have been put in place to curb carbon emissions in major cities. Further developments in battery technology are increasing the range and performance of electric scooters, making them more popular with consumers. At present, electric scooters are being introduced on a large scale, with Paris and San Francisco leading the way in integrating them into public transport systems. Companies like Bird and Lime are delivering electric scooters as a shared service to urban commuters. These are mainly used for last-mile deliveries and short-distance travel. A number of factors are contributing to this growth. The increasing demand for green transport and the growing emphasis on sustainable solutions are pushing the market forward. Meanwhile, the Internet of Things and the development of mobile applications are improving the overall user experience and increasing the efficiency of operations.

Future Outlook

Electric Scooters Market to Grow at a CAGR of 7.0% from 2022 to 2030. The electric scooter market is expected to grow at a CAGR of 7.0% from 2022 to 2030, supported by the increasing demand for sustainable urban mobility solutions in cities around the world, which are looking for ways to reduce traffic congestion and carbon emissions. By 2030, electric scooters will account for a significant share of the personal mobility market, with penetration rates of up to 15–17% in urban areas, driven by the growing acceptance of electric vehicles and the proliferation of shared mobility services. Improved battery efficiency and smart-phone-based connectivity features will also boost the appeal of electric scooters. The expansion of government initiatives, including subsidies and the development of charging stations, will further stimulate market growth. Meanwhile, the integration of electric scooters into multi-modal transport systems and the rise of green consumers will also be crucial to the market. As the market develops, it will be important for industry players to remain flexible in order to seize emerging opportunities and to meet regulatory and safety standards.