Electric Scooter Battery Market Size

Market Size Snapshot

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

In 2024, the market size of the global electric scooter and battery is estimated to reach US$3.47 billion. The annual growth rate of this market is 15.53%. This is mainly driven by the demand for electric scooters. The increasing urbanization and the increasing demand for sustainable development drive the demand for electric vehicles. The development of the charging technology and the battery technology also promotes the development of this market, and the electric vehicle has become a new type of vehicle. The major players in this industry, such as Xiaomi, Ninebot, and Gogoro, have been investing heavily in research and development, and have established close cooperative relations with each other, so as to lead the trend of the industry and gain a larger market share. The recent release of the electric scooters with a high performance and a long life by Xiaomi shows the trend of competition and innovation in this industry.

Regional Market Size

Regional Deep Dive

The electric scooter and the electric battery market is experiencing significant growth across various regions, driven by urbanization, the environment, and the development of battery technology. In North America, the market is characterized by a growing demand for sustainable transportation solutions, while Europe is the leader in terms of promoting electric mobility. The Asia-Pacific region is characterized by a high population density and a large number of cities, and the Middle East and Africa region is slowly promoting electric scooters as part of its urbanization strategy. Latin America is also a potential market, influenced by the economy and the need for low-cost transportation.

Europe

• The European Union's Green Deal aims to reduce carbon emissions, leading to increased investments in electric mobility, including electric scooters.
• Countries like Germany and France are implementing regulations that encourage the use of electric scooters, such as designated lanes and parking spaces, enhancing their appeal.

Asia Pacific

• China remains a dominant player in the electric scooter market, with companies like Xiaomi and Ninebot innovating in battery technology and design.
• India is witnessing a surge in electric scooter adoption, supported by government initiatives like the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme.

Latin America

• Brazil is seeing a rise in electric scooter usage, driven by urban congestion and the need for affordable transportation options.
• Government programs aimed at reducing emissions are encouraging the adoption of electric scooters in cities like São Paulo.

North America

• The introduction of various state-level incentives for electric vehicle adoption, such as California's Clean Vehicle Rebate Project, is significantly boosting the electric scooter market.
• Companies like Bird and Lime are expanding their electric scooter sharing services in urban areas, promoting a shift towards micro-mobility solutions.

Middle East And Africa

• Countries like the UAE are investing in electric scooter infrastructure as part of their smart city initiatives, promoting sustainable urban transport.
• Local startups are emerging in South Africa, focusing on electric scooter rentals to address urban mobility challenges in congested cities.

Did You Know?

“In 2020, the global electric scooter market was estimated to have over 77 million units sold, highlighting the rapid adoption of this mode of transport.” — example.com

Segmental Market Size

The electric mobility market is experiencing rapid growth as a result of urbanization and the need for sustainable transport. Aware of the environment and the regulatory environment, consumers are mainly driven by a desire to reduce carbon emissions. Advances in battery technology are enhancing the performance and the price of electric scooters, making them more attractive to a wider audience. In the United States and Europe, Bird and Lime are currently the market leaders. In Asia-Pacific, the region also has a significant market, especially in China, where electric scooters are a popular means of transport. Cities are implementing shared mobility programs to reduce congestion. Electrification and sustainable mobility are also driving growth. The introduction of batteries with integrated management systems and IoT connections is shaping the future of the market.

Future Outlook

Electric Scooter and Battery Market will grow at a compound annual growth rate of 15.53% from 2024 to 2032. The growth will be mainly driven by increasing urbanization, rising awareness of the environment and the trend towards sustainable transportation. In cities around the world, electric scooters are emerging as a viable alternative to short-distance travel, with a penetration rate of up to 15% of urban mobility solutions by 2032. The development of key technology, mainly the improvement of battery performance and charging stations, will play a decisive role in this market growth. As solid-state batteries and fast-charging technology improve the performance of electric scooters, they will become more popular and will be more widely used. In addition, the government's support for the reduction of carbon dioxide emissions and the encouragement of electric mobility will promote market growth. Also, the trend of smart technology and shared mobility will change the preferences of consumers and further drive the growth of the market, making the electric scooter market an important part of the future of urban transportation.