Scooters Market Size Worth $114.40 Billion By 2032, CAGR 6.1%

Scooters Market Size Worth $ 114.40 Billion By 2032 | CAGR: 6.1%


The global scooters market size is expected to reach USD 114.40 billion by 2032, according to a new study by Polaris Market Research. The report “Scooters Market Share, Size, Trends, Industry Analysis Report, By Product Type (Normal Scooter, Electric Scooter), By Electric Scooter Type (Conventional Electric Scooter, Swappable Electric Scooter), By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing preference for scooters in the market is driven by the rising demand for comfortable rides featuring a gearless driving system. Scooters are favored for their lightweight nature, ease of driving, low maintenance requirements, and cost-effectiveness, making them a popular choice over other two-wheelers. Additionally, the growing adoption of rental electric scooters for local travel and sightseeing is anticipated to further contribute to the overall growth of the scooter market.

The global halt in manufacturing activities during the pandemic had a significant impact on the production and sales of new scooters. However, as the world started recovering from the pandemic, there was an upsurge in the demand for scooters. This increased demand can be attributed to a shift in consumer preferences towards more cost-effective transportation options. With economic uncertainties lingering post-pandemic, consumers sought affordable and fuel-efficient solutions, driving the demand for scooters as a practical and economical means of transportation.

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Manufacturers are adopting the rental business model to enhance the penetration of electric scooters in the market. Companies like Lime, Bird, Skip, Scoot, Spin, and Segway provide electric scooters on a rental basis, typically charging customers on a per-minute basis with a minimum ride cost, for example, $0.15 per minute. This rental model offers users a flexible and cost-effective alternative to owning an electric scooter. Customers can access electric scooters when needed without the commitment of ownership, making it a convenient and economical choice for short-distance travel and local commuting.

To mitigate the intense competition in the scooter market, manufacturers in the Asia Pacific region are increasingly opting for market consolidation strategies. For instance, in May 2021, Yadea Technology entered a joint venture with Gogoro & Dachanging Group, involving a USD 50 million investment from Yadea & DCJ. This strategic partnership aims to foster the development of smart infrastructure in the region, facilitating the widespread adoption of electric scooters.

Scooters Market Report Highlights

  • The electric scooters segment is expected to grow at the fastest rate, primarily due to changes in government policies, subsidies for electric scooters
  • Conventional scooters held the largest share, as it widely used and accepted. These scooters are lighter and have very low maintenance costs
  • APAC dominated the market, owing to favorable government norms, production-linked incentives for enterprises, and a positive investment scenario
  • North America will grow at a significant pace on account of the rising need for cleaner, non-polluting vehicles, private investments, and a surge in rental services in the low-income US. states
  • The global players include Yadea Technology, Ninebot, NEUTRON HOLDINGS, Bird Rides, Spin, GOTRAX, SEGWAY, Razor USA, Uber Technologies, & OKAI.  

Polaris Market Research has segmented the scooters market report based on type, product, and region:

Scooters, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • Electric Scooter
  • Normal Scooter

Scooters, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Conventional Electric Scooter
  • Swappable Electric Scooter

Scooters, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Scooters Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 72.16 billion

Revenue forecast in 2032

USD 114.40 billion

CAGR

5.9% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Power Source, By Product, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region, and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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