The global electric scooters market is valued at US$ 9.59 billion as of 2022. The market is expected to grow at a CAGR of 9% during the forecast period, and by 2032, the market is expected to reach an estimated US$ 22.7 billion.

Demand for electric scooters is anticipated to increase throughout the projected period as a result of increased fuel prices and a rise in the demand for fuel-efficient cars. In addition, governments around the world are acting to stop pollution brought on by growing urbanisation. People have started using these electric two-wheelers due to the extremely low emissions they produce, which is expected to fuel the expansion of the electric scooters market.

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Additionally, these mobility aids are effective at reducing noise pollution. Electric scooters make a lot less noise than scooters with internal combustion engines. Electric scooter sales may increase within the predicted time range as a result. A nice break, especially for office employees, is provided by some of the biggest ridesharing businesses, like Ola, which also sell affordable mobility scooters. Millennials are also very interested in buying electric scooters because of its trendy qualities including light weight, tiny storage space, and distinctive style.

Concerns concerning the market expansion of electric scooters are raised by the absence of charging stations. However, it is believed that the issue of a lack of charging stations will be resolved quickly with the anticipated increase in the adoption of these electric scooters, and we may see a lot more charging stations in the future.

Thus, from the insights provided by FMI analysts, it can be inferred that “an increase in the fuel price, coupled with increased initiatives from ruling authorities to curb air pollution, is expected to surge the growth of electric scooters market during the forecast period.”

Key Takeaways:

• China electric scooters market is expected to hold a market share of nearly 80% in the Asia Pacific region during the forecast period.
• China is also expected to be one of the fastest-growing markets during the forecast period.
• Based on the product type, the maxi electric scooters are expected to have the highest share in the electric scooters market. Based on the battery type, the lead-based battery type is expected to have the highest electric scooters market share during the period 2022-2032.
• Based on the technology, battery technology is expected to have the highest market share during the forecast period.

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Competitive Landscape:

The key players are currently investing in strategic partnerships. The reason is that they want to implement the state-of-the-art technology that has been developed by players from other industries like the semiconductor sector, electronics sector, etc. This would certainly enable them to leverage the technology in the electric scooters and assist them in delivering a seamless user experience.

Some of the recent developments in the electric scooters market are:

• In July 2022, Ather announced that it planned to boost electric scooters production tenfold.
• In September 2022, Yamaha opened ‘Blue Square’ premium outlet in Bhubaneswar. The outlet would offer engaging customer experience, and showcase Yamaha’s entire range of two wheelers, apparels and accessories.

Key Companies Profiled

Alta Motors, Ather Energy, BMW Motorrad International, Cezeta, Energica Motor Company, Hero Eco, Johammer e-mobility GmbH, KTM AG, Mahindra GenZe, Ninebot Limited, Okinawa Autotech Pvt. Ltd, ReVolt Electric Motorbikes, Xiaomi, Yamaha Motor Company Limited.