Electric Scooter Market Size Worth USD 81.48 Billion By 2034 | CAGR: 11.2%
The global electric scooter market size is expected to reach USD 81.48 billion by 2034 according to a new study by Polaris Market Research. The report “Electric Scooter Market Share, Size, Trends, Industry Analysis Report, By Type (Plug-in, Battery-based); By Product; By Battery; By Voltage; By Region; Segment Forecast, 2025 - 2034” provides an insightful peek into prevalent market dynamics and offers analysis on the market growth of the future.
The increasing production and sales of e-vehicles across advanced nations, such as India, Vietnam, China, and Indonesia, where consumers use vast numbers of two-wheelers, are expected to fuel industry growth. Growing countries are observing an outstandingly high rate of adoption of the industry compared to e-bikes and motorcycles. The initial purchase cost of electric vehicles is more significant than that of their gas-powered hybrid counterparts. The increasing adoption of electric scooter sharing services in countries such as the US, Spain, France, and Germany has driven the demand for battery-powered two-wheelers.
Additionally, the requirement for maintainable urban mobility and the existing transportation infrastructure are shifting the transition from traditional to electric modes of transport, resulting in increased demand for the market. E-vehicles are expected to positively impact air quality and energy security. This is due to the sealed lead-acid battery segment, as these batteries are rechargeable and can withstand up to 300 complete charge cycles. They have a limited lifetime and are bulkier than NimH and Li-ion batteries.
Furthermore, the lithium-ion battery is anticipated to grow in response to the increasing awareness of the demand for eco-friendly batteries, along with their superior performance compared to sealed lead-acid and NiMH batteries, which has increased the demand for Li-ion batteries.
Based on voltage, the 36V segment led the market in 2024, as it offers high compatibility with e-vehicles and delivers superior power output, which is anticipated to drive segment growth. The demand for batteries used in 36V systems is predominantly catered to through Li-Ion and NiMH batteries because they are compact in design and provide better charging time. They do not release harmful chemicals, unlike sealed lead-acid batteries.
The leading players in the market include BMW Motorrad International, Brammo, Inc., Suzuki Motor Corporation, Green Energy Motors Corp., AllCell Technologies, LLC, Jiangsu Xinri E-Vehicle Co. Ltd., KTM AG Peugeot Scooters, Honda Motor Co. Ltd, Mahindra GenZe, Terra Motors Corporation, Yamaha Motor Company Limited.
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Polaris Market Research has segmented the electric scooter market report based on type, product, battery type, voltage, and region:
Electric Scooter, By Type Outlook (Revenue - USD Billion, 2020 - 2034)
- Plug-in
- Battery-based
Electric Scooter, By Product Outlook (Revenue - USD Billion, 2020 - 2034)
- Retro
- Self-balancing
- Folding
Electric Scooter, By Battery Outlook (Revenue - USD Billion, 2020 - 2034)
- Sealed Lead-acid
- Li-ion
- NiMH
Electric Scooter, By Voltage Outlook (Revenue - USD Billion, 2020 - 2034)
- 24V
- 36V
- 48V
- Greater than 48V
Electric Scooter, By Regional Outlook (Revenue - USD Billion, 2020 - 2034)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Russia
- Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
