Electric Scooter Market Size to Reach USD 7384.9 Million by 2028 at CAGR 4.4% - Valuates Reports
BANGALORE, India, Jan. 11, 2022 /PRNewswire/ -- The Electric Scooter Market is Segmented by Type (Two-wheel, Three-wheel), Application (Electric Retro Scooter, Electric Kick Scooter). The report covers global opportunity analysis and industry forecasts from 2022 to 2028.
The global Electric Scooter market size is estimated to be worth USD 5703.5 Million in 2022 and is forecast to a readjusted size of USD 7384.9 Million by 2028 with a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period
Major Factors Driving The Growth Of The Electric Scooter Market Are:
Rising demand for fuel-efficient automobiles, combined with rising concerns about greenhouse gas and carbon emissions, is expected to increase the adoption of the electric scooters market.
Electric scooters are becoming more popular among the young population, and increased spending power of the middle class in developing nations, as well as rapid urbanization, are predicted to fuel the electric scooter market growth.
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Trends Influencing The Growth Of Electric Scooter Market;
The electric scooter market is expected to rise due to the rising usage of electric motorbikes and e-bikes for short commutes, rising environmental concerns, and increased investments by ride-hailing businesses in the micro-mobility arena. OEMs' increased efforts to produce lightweight bikes, as well as the growing trend toward connected e-Bikes, offer considerable potential opportunities for industry competitors.
The rising expense of petroleum is one of the most fundamental elements pushing the electric scooter market. The rising cost of gasoline is already affecting consumers in emerging markets. Electric two-wheelers will significantly lower the running costs of these vehicles. These two-wheelers are more fuel-efficient than standard motorcycles. e-scooter and motorbikes with a longer range than the present generation of electric two-wheelers are expected to be developed by manufacturers.
Governments all around the world have enacted measures to boost the adoption of electric scooters by providing subsidies to both customers and producers. Support in the form of R&D activities is also a significant growth component. Thus the favorable government policies are expected to drive the electric scooter market growth.
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Electric Scooter Market Share Analysis:
Based on region, North America is expected to be the most lucrative region. This is due to the increased adoption of electric scooters among end consumers.
Based on application, The retro segment is expected to be the most lucrative segment. This is due to the shift toward green vehicles for commuting over short distances.
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Major Players in the Electric Scooters Market
- Birdie Electric
- Xiaodao Ebike
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- The Electric Scooter and Motorcycle Market size was valued at USD 5560.9 Million in 2020 and is projected to reach USD 7618.5 Million by 2027, at a CAGR of 4.6% during 2021-2027.
- The global one wheel electric scooter market was valued at USD 110.2 Million in 2019, and is projected to reach USD 146.7 Million by 2027, registering a CAGR of 5.0%. North America was the highest revenue contributor, accounting for USD 38.7 Million in 2019, and is estimated to reach USD 45.9 Million by 2027, with a CAGR of 3.5%.
- The global Bike and Scooter Rental market size is projected to reach USD 4740.8 Million by 2027, from USD 2115.4 Million in 2020, at a CAGR of 11.7% during 2021-2027.
- In 2020, the global Electric Mobility Scooter market size was USD 1214.5 Million and it is expected to reach USD 3340.2 Million by the end of 2027, with a CAGR of 15.0% during 2021-2027.
- The global electric kick scooter market was valued at USD 2.10 billion in 2020, and is projected to reach USD 4.52 billion by 2028, registering a CAGR of 12.2% from 2021 to 2028.
- In 2020, the global Electric Bikes and Folding Bikes market size was USD 15350 Million and it is expected to reach USD 19130 Million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 2.7% during 2021-2027
- The global connected motorcycle market size was valued at USD 35.6 Million in 2019, and is projected to reach USD 304.1 Million by 2027, registering a CAGR of 39.6% from 2020 to 2027.
- The global folding bikes market was valued at USD 790.90 Million in 2019 and is projected to reach USD 1,260.98 Million by 2027, registering a CAGR of 8.7% from 2020 to 2027.
- The global BMX bikes market was valued at USD 230.2 Million in 2020 and is projected to reach USD 381.8 Million by 2030, registering a CAGR of 5.1% from 2021 to 2030.
- The global E-bikes market was valued at USD 40.3 Billion in 2019, and is projected to reach USD 118.6 Billion by 2030, registering a CAGR of 10.5% from 2020 to 2030.
- The global autonomous bike market was valued at USD 3.26 billion in 2027, and is projected to reach USD 35.71 billion by 2035, registering a CAGR of 34.9% from 2028 to 2035.
- The global cruiser bikes market was valued at USD 61.99 billion in 2020, and is projected to reach USD 101.98 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.
- The global Smart Helmet market size is projected to reach USD 536.4 Million by 2026, from USD 240.6 Million in 2019, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period 2021-2026
- In 2020, the global Electric Self Balancing Scooter market size was USD 761.1 Million and it is expected to reach USD 770.4 Million by the end of 2027, with a CAGR of 0.2% during 2021-2027.
- The global Electric Commercial Vehicle market size is projected to reach USD 178560 Million by 2027, from USD 101270 Million in 2020, at a CAGR of 8.3% during 2021-2027
To see the full list of related reports on the Electric Scooter
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