Electric Scooter Market worth $12.4 billion by 2030 | MarketsandMarkets

CHICAGO, June 18, 2024 /PRNewswire/ — Electric Scooter Market is projected to grow from USD 4.3 billion in 2024 to USD 12.4 billion by 2030, registering a CAGR of 18.9%, according to a new report by MarketsandMarkets. The global market for electric scooters is experiencing significant growth, driven by a combination of environmental, economic, and technological factors. Increasing environmental awareness and stringent government regulations to reduce emissions have prompted consumers and manufacturers to adopt more sustainable transportation options. Advances in battery technology have enhanced the performance, range, and charging efficiency of electric two-wheelers, making them more practical and appealing. Additionally, integrating smart technologies, such as GPS and IoT connectivity, has improved the user experience, while the rise of shared mobility services has expanded their accessibility and convenience in urban areas. These developments and substantial investments from major automotive companies and startups propel the widespread adoption and growth of electric scooters worldwide.

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Browse in-depth TOC on “Electric Scooter Market

385 – Tables

74 – Figures

381 – Pages

Electric Scooter Market Scope:

Report Coverage


Market Revenue in 2024

USD 4.3 billion

Estimated Value by 2030

USD 12.4 billion

Growth Rate

Poised to grow at a CAGR of 18.9%

Market Size Available for


Forecast Period


Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Vehicle type, Motor Power, Motor type, Battery Type, Usage, Technology Type, Voltage Type, Distance Covered, Vehicle Class and Region

Geographies Covered

Asia Pacific, Europe, and North America

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Government bodies backing electric two-wheelers

Key Market Drivers

Advancement in Battery Technology

The 1.5–3 kW segment to show a significant growth rate during the forecast period.

The less than 100 kW market is projected to register a CAGR of 19.2% during the forecast period. The power output of medium-power electric scooters and motorcycles ranges from 1.5 kW -3 kW. As these scooters and motorcycles run with a motor that provides decent power output and efficient speed, electric scooters and motorcycles with this motor usage are expected to grow considerably during the forecast period. This power range strikes a balance between performance and efficiency, offering users enhanced capabilities without sacrificing energy conservation or affordability. These scooters are well-suited for navigating both city streets and suburban roads, providing users with a reliable and convenient mode of transportation for various daily needs. One of the key advantages of electric scooters in this power range is their improved performance compared to lower-powered models. With motor outputs between 1.5 kW and 3 kW, these scooters offer faster acceleration and higher top speeds, making them more suitable for longer commutes and handling diverse urban terrain. This increased power allows riders to maintain higher speeds and easily navigate inclines, enhancing overall ride comfort and efficiency. Manufacturers worldwide offer different vehicle models in a 1.5 kW – 3 kW motor power range. Gogoro (Taiwan) offer Gogoro CrossOver GX250 electric scooter with a 2.5 kW direct drive motor that can reach speeds of over 60 kmph and has a range of 111 km. Additionally, Greaves Electric Mobility Private Limited (India), Yadea Technology Group Co., Ltd. (China), and Niu International (China) offer Ampere Magnus EX with 2.1 kW, Yadea E8S with 2.0 kW, and NQiGT S with 3.5 kW motor power, respectively.

“The commercial use of electric scooter is expected to show significant growth during the forecast period.”

Fleet owners delivering goods and services to their customers increasingly rely on electric scooters and motorcycles. Electric two-wheelers often come equipped with advanced telematics and fleet management systems. These technologies enable real-time tracking, route optimization, and efficient fleet management, improving delivery efficiency. Businesses can monitor vehicle performance, schedule maintenance, and analyze data to optimize operations. Using electric scooters/mopeds and motorcycles can significantly reduce delivery costs and improve profitability. Meal delivery companies across the globe use electric scooters. For instance, in December 2023, Uber Eats (US) partnered with Gogoro (Taiwan) for Green Delivery Program. The partnership is word USD 30 million. Uber Eats delivery partners will receive discounts on new Gogoro Smartscooters and battery swapping programs and be given incentives for deliveries on Gogoro Smartscooters. Through the program, Uber Eats expects EV deliveries in Taiwan to double from nearly 20% to 40% by the end of 2025. Also increasing fuel prices, the need to rationalize costs, favorable government policies, and rising awareness of emission-free vehicles would boost the adoption of electric scooters for commercial use in the forecasted period.

Europe is expected to become second largest growing market for electric scooter during the forecast period.

Europe is home to many electric two-wheeler manufacturing companies, such as Silence Urban Ecomobility (Spain), Energica Motor Company (Italy), GOVECS (Germany), and Piaggio (Italy). The automotive industry is one of the key contributors to Europe’s economy. The increasing concerns over carbon emissions by conventional ICE two-wheelers and efficiency in this mode of travel have led European two-wheeler manufacturers to develop electric scooters and motorcycles. Government initiatives have encouraged the key players in the market to develop advanced electric two-wheelers and the infrastructure for charging facilities. The rising demand for electric two-wheelers has allowed new players to increase their regional presence. In April 2024, British e-scooter manufacturer Swifty Scooters launched the UK’s first road-legal e-scooter – the GO GT500. Honda Motor Co., Ltd. (Japan) launched its first electric two-wheeler for Europe, the EM1 e, in May 2023. The vehicle uses Honda’s Power Pack swappable battery technology. Ultraviolette Automotive’s (India) F77 electric motorcycle is scheduled to be available in Europe in the second quarter of 2024.

Governments of various European countries are subsidizing electric infrastructure, and the focus will continue to be on electric vehicles in the long run. The EU’s charging network is growing faster than the EV fleet, and most countries already have enough infrastructure to comply with the Alternative Fuels Infrastructure Regulation (AFIR) in 2024. Eight countries are expected to meet their 2025 targets, and many are close to meeting their 2026 targets. However, the EU’s charging network still needs to quadruple by 2030. Hence, the electric scooter market in Europe will grow in the future.

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Electric Scooter Market Dynamics:


1. Advancement in Battery Technology


1. Battery heating issues and long charging time


1. Government bodies backing electric two-wheelers


1. Technological barriers related to battery development

Key Market Players Electric Scooter Industry:

Prominent players in the Electric Scooter Market include Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) and others.

The break-down of primary participants is as mentioned below:

  • By Company Type: OEMs – 30%, Tier I – 30%, Tier II– 40%,
  • By Designation: CXOs – 35%, Directors– 20%, Others– 45%
  • By Region: North America– 15%, Europe – 15%, Asia Pacific– 70%

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Electric Scooter Industry Recent Developments:

  • In April 2024, Ola Electric launched the S1 X scooter range, which includes 2 kWh, 3 kWh, and 4 kWh variants. The S1 X 4 kWh has a range of 190 km and can go from 0 to 14 km/h in 3.3 seconds.
  • In April 2024, Ather Energy introduced the Ather Rizta electric scooter with a 2.9 kWh battery, offering a range of 123 km.
  • In March 2024, Yadea Technology Group Co., Ltd. announced its plan to invest 352.0 million yuan (USD 49.4 million) to acquire the entire shares of Wuxi Lingbo Electronic Technology Co., Ltd., which specializes in the research, development, manufacturing, and sales of intelligent control system solutions. This acquisition will strengthen Yadea’s technical capability and supply chain vertical integration in the electric two-wheeler industry, develop global markets, and lower production costs.

Electric Scooter Market Size – Key Benefits of Buying the Report:

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric scooter market and its subsegments.
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on:

  • Analysis of key drivers (Rising environmental concerns, Government incentives and subsidies, Advancements in battery technology, Implementation of battery swapping technology, Rapid urbanization), restraints (Low number of charging stations in emerging economies, Lack of power output and limited range, Battery heating issues and long charging time), opportunities (Government bodies backing electric two-wheelers, Decreasing prices of batteries, New revenue pockets in Asia Pacific and Europe, Use of IoT and smart infrastructure in electric two-wheeler charging stations for load management), and challenges (Initial investments and high cost of electricity, Lack of compatibility, interchangeability, and standardization, Technological barriers related to battery development)
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the electric scooter market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the electric scooter market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric scooter market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) and among others in the electric scooter market.
  • Strategies: The report also helps stakeholders understand the pulse of the automotive airbags & seatbelts market and provides them information on key market drivers, restraints, challenges, and opportunities.

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