Market Summary
Electric Scooter and Battery Market Overview:
The Electric Scooter and Battery Market size was valued at USD 2.95 Billion in 2023. The Electric Scooter and Battery industry is projected to grow from USD 3.47 Billion in 2024 to USD 11.05 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.53% during the forecast period (2024–2032). The growing demand for fuel-efficient automobiles, coupled with increasing concerns over greenhouse gas (GHG) and carbon emissions and stringent emission norms by government agencies, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Electric Scooter and Battery Market Trends
-
Rising Demand for EVs is driving the market growth
Market CAGR for electric scooters and battery is being driven by the increasing cost of petroleum products is one of the significant factors driving the electric scooter and battery market growth. The growing cost of gasoline is already impacting consumers in emerging markets. Electric two-wheelers will significantly lower the running costs of these vehicles owing to being more fuel-efficient than conventional two-wheelers. With a longer range than the existing generation of e-two wheelers, this scooter is expected to be developed by manufacturers. Maintenance will not be a problem as there are more irregular moving domains than on traditional two-wheelers. The most costly maintenance is changing the battery, which is rarely done.
Additionally, the increasing adoption of these scooters across the globe is boosting market growth owing to their advantages, such as low noise levels, low maintenance prices, and high mechanical efficiency. Governments also offer monetary and non-monetary incentives, which result in significant market growth. Customers are more intended about the environmental impact of conventional methods of transportation and are moving to electric scooters.
The market players are innovating innovations in battery technology to propel market growth. For instance, in October 2021, Mahle Powertrain and UK-based Allotrope Energy launched, in partnership, a new battery technology that can revolutionize EV charging. It is lithium-carbon technology; it offers ultra-fast recharging with good power density. It would suit a wide range of electric scooters, including e-scooters. Lithium-carbon technology has been developed by combining the benefits of supercapacitors and traditional lithium-ion batteries. The final development is a battery cell that can quickly recharge and retain good energy density. It is also durable at high temperatures and, thus, allows high current delivery and fast recharging. Developments like these are anticipated to drive the electric scooter and battery market revenue.
Increasing production and sales of electric scooters and bikes across developing nations such as China, India, Vietnam, and Indonesia, where consumers use many two-wheelers, fuels the market growth. Developing nations are witnessing a significantly high rate of adoption of electric scooters than electric bikes and motorcycles, which accounted for around 70% of total electric motorcycle and scooter sales in 2020. This rise in adoption increases the use of electric batteries in the scooter and further drives the market. Moreover, rising fuel prices and awareness about a reduction in the utilization of fossil fuels across the globe is also propelling the adoption of electric scooter and battery.
Electric Scooter and Battery Market Segment Insights:
Electric Scooter and Battery Type Insights
The Electric Scooter and Battery Market segmentation, based on type, includes plug-in and battery-based. The battery-based segment dominated the market, accounting for 35% of market revenue (0.87 Billion). In developing economies, category growth is driven by the growing requirement for high-performance batteries, such as Li-ion and NiMH. Moreover, batteries are high charging-discharging efficiency, high charge density, and low weight. However, the plug-in is the fastest-growing category over the forecast period due to its cost-effectiveness.
Electric Scooter and Battery Product Insights
The Electric Scooter and Battery Market segmentation, based on product, includes retro, self-balancing, and folding. The retro category generated the most income due to increased fuel and maintenance costs. Since old-fashioned electric vehicles are still in consumer demand, this drives market growth. However, folding is the fastest-growing category due to the establishment of smart vehicles that belong to the next generation with big data and IoT.
Figure 1: Electric Scooter and Battery Market, by Product, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Electric Scooter and Battery Voltage Insights
The Electric Scooter and Battery Market segmentation, based on Voltage, includes 24V, 36V, 48V, and more than 48V. The 48V category generated the most income (70.4%) as these batteries have a high level of connectivity with e-scooters and have higher power output. However, more than 48V is the fastest-growing category owing to the growing consumer preference for high voltage e-scooters for long-range distances.
Electric Scooter and Battery Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific electric scooter and battery market will dominate this market, owing to the increasing affordability of e-scooters, and growing awareness among customers regarding clean energy transportation to curb vehicular emissions will boost the market growth in this region. Moreover, China’s electric scooter and battery market held the largest market share, and the Indian electric scooter and battery market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Electric Scooter and Battery Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's electric scooter and battery market accounts for the second-largest market share due to the growing investments in EV charging infrastructure and research support for innovative high-density batteries in this region. Further, the German electric scooter and battery market held the largest market share, and the UK electric scooter and battery market was the fastest-growing market in the European region.
The North American electric scooter and battery market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to rising consumer awareness regarding the negative impact of carbon emissions. Moreover, US electric scooter and battery market held the largest market share, and the Canadian electric scooter and battery market was the fastest-growing market in the Asia-Pacific region.
Electric Scooter and Battery Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the electric scooter and battery market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the electric scooter and battery industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global electric scooter and battery industry to benefit clients and increase the market sector. Major players in the electric scooter and battery market, including Sanyo, Sony, Samsung, Panasonic, LG, Chilwee Group, and others, are attempting to increase market demand by investing in research and development operations.
Gogoro is a Taiwanese company that developed a battery-swapping refueling platform for urban electric two-wheel scooters, mopeds and motorcycles. The company manufactures two-wheeled electric vehicles and battery swapping infrastructure. The Company offers a smart electric scooter with cloud connectivity and an electric powertrain that utilizes swappable battery infrastructure for gathering, analyzing, and sharing riding data via a mobile application on the rider's smartphone. Gogoro serves customers in Taiwan. In September 2022, Gogoro Inc. introduced Smart scooters and a battery-swapping system in the Tel Aviv metropolitan area. In the future, the products will also be introduced in additional Israeli cities in collaboration with Paz Group and Metro Motor.
Vmoto Limited is a manufacturer and supplier of electric-powered scooters. The product portfolio of the company includes electric scooters and four-wheel vehicles. It offers products under three brands, Vmoto, Super Soco and E-Max. The company’s Super Soco brand portfolio includes Super Soco 4000W, CPX, TC, TS, MAX and CUX. Its E-Max's products include VT100LD and VT120LD. Vmoto has manufacturing facilities located in Nanjing, China. In February 2021, Vmoto Limited expanded its e-scooter portfolio by adding TS, TC, and CUmini models.
Key Companies in the Electric Scooter and Battery market include
- Wuxi YADEA Export-Import Co. LTD. (China)
- BMW AG (Germany)
- Honda Motor Co. Ltd. (Japan)
- Mahindra & Mahindra Ltd (India)
- Terra Motors Corporation (Japan)
- Yamaha Motor Co. Ltd. (US)
- BOXX Corp. (US)
- Gogoro Inc. (Taiwan)
- Greenwit Technologies (Canada)
- Vmoto Limited (Australia)
- GOVECS AG (Germany)
- TAIZHOU UGBEST EV CO., LTD (China)
- PIAGGIO & C.SPA (Italy)
- ZNEN MOTOR (China)
Electric Scooter and Battery Industry Developments
April 2024: Greaves Electric Mobility's two-wheeler brand Ampere has introduced its first luxury electric scooter, which is called the Ampere Nexus. The Ampere Nexus is priced at introductory pricing that range from Rs 1.10 lakh to Rs 1.20 lakh (ex-showroom). Zanskar Aqua, Lunar White, Indian Red, and Steel Grey are the four colors that are available for the Nexus, which is not eligible for government subsidies under the Electric Mobility Promotion Scheme (EMPS). The Nexus is offered in two variants: the standard EX, which costs Rs 1.10 lakh, and the top-spec ST, which costs Rs 1.20 lakh. As soon as the initial deal is no longer available, these costs will increase by Rs 10,000.
The Nexus, which was introduced by the Ampere NXG concept, is the most feature-packed Ampere e-scooter to date. It is also much more equipped than the Primus, which it essentially replaces in the lineup of products it basically replaces. According to the business, reservations for the Nexus are currently being accepted, and the company has confirmed that the delivery of the scooter will start in the second part of May.
Despite the fact that it keeps certain design and style elements from the NXG, the Nexus does not have some of the showfloor details that were included in the idea. For example, the swing arm that was only on one side has been replaced with a swing arm that is more traditional. A telescopic fork and twin rear shock absorbers are two of the features that are included on the Nexus, which adheres to the tried-and-true formula of an electric scooter designed for families.
Additionally, the form factor is not too unlike to that of previous Ampere scooters. The seat of the scooter is 712 millimeters in length, and the height of the seat is a very comfortable 765 millimeters. The illumination is entirely composed of LEDs. The scooter has a wheelbase that is 1,319 millimeters in length, and it has 235 millimeters of floorboard area in addition to 170 millimeters of ground clearance.
September 2022: NIO announced the opening of its first battery swap station in Germany in Zusmarshausen, situated along the busy A8 highway between Munich and Stuttgart. The battery swap station can perform up to 312 power conversions daily. The vehicle's electric control system, motor, and battery will all be thoroughly examined before each swap to ensure they are in working order.
Electric Scooter and Battery Market Segmentation:
Electric Scooter Battery Market Type Outlook
- Plug-In
- Battery-Based
Electric Scooter Battery Market Product Outlook
- Retro
- Self-Balancing
- Folding
Electric Scooter Battery Market Voltage Outlook
- 24V
- 36V
- 48V
- More Than 48V
Electric Scooter Battery Market Regional Outlook
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North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
- Middle East
- Africa
- Latin America
Market Size & Forecast
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 2.95 Billion |
| Market Size 2024 | USD 3.47 Billion |
| Market Size 2032 | USD 11.05 Billion |
| Compound Annual Growth Rate (CAGR) | 15.53% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Product, Voltage, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Wuxi YADEA Export-Import Co. LTD. (China), BMW AG (Germany), Honda Motor Co., Ltd. (Japan), Terra Motors Corporation (Japan), Mahindra & Mahindra Ltd (India), Yamaha Motor Co. Ltd. (US), PIAGGIO & C.SPA (Italy), and ZNEN MOTOR (China). |
| Key Market Opportunities | Growing government support for the promotion of e-mobility across the globe |
| Key Market Dynamics | The growing presence of EV manufacturers in developing economies |
Major Players
Electric Scooter and Battery Market Segmentation
Electric Scooter and Battery Type Outlook (USD Billion, 2018-2032)
Plug-In
Battery-Based
Electric Scooter and Battery Product Outlook (USD Billion, 2018-2032)
Retro
Self-Balancing
Folding
Electric Scooter and Battery Voltage Outlook (USD Billion, 2018-2032)
24V
36V
48V
More Than 48V
Electric Scooter and Battery Regional Outlook (USD Billion, 2018-2032)
North America Outlook (USD Billion, 2018-2032)
North America Electric Scooter and Battery by Type
Plug-In
Battery-Based
North America Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
North America Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
US Outlook (USD Billion, 2018-2032)
US Electric Scooter and Battery by Type
Plug-In
Battery-Based
US Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
US Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
CANADA Outlook (USD Billion, 2018-2032)
CANADA Electric Scooter and Battery by Type
Plug-In
Battery-Based
CANADA Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
CANADA Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Europe Outlook (USD Billion, 2018-2032)
Europe Electric Scooter and Battery by Type
Plug-In
Battery-Based
Europe Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
and Battery by Voltage
24V
36V
48V
More Than 48V
Germany Outlook (USD Billion, 2018-2032)
Germany Electric Scooter and Battery by Type
Plug-In
Battery-Based
Germany Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Germany Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
France Outlook (USD Billion, 2018-2032)
France Electric Scooter and Battery by Type
Plug-In
Battery-Based
France Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
France Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
UK Outlook (USD Billion, 2018-2032)
UK Electric Scooter and Battery by Type
Plug-In
Battery-Based
UK Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
UK Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
ITALY Outlook (USD Billion, 2018-2032)
ITALY Electric Scooter and Battery by Type
Plug-In
Battery-Based
ITALY Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
ITALY Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
SPAIN Outlook (USD Billion, 2018-2032)
Spain Electric Scooter and Battery by Type
Plug-In
Battery-Based
Spain Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Spain Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Rest Of Europe Outlook (USD Billion, 2018-2032)
Rest Of Europe Electric Scooter and Battery by Type
Plug-In
Battery-Based
REST OF EUROPE Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Rest Of Europe Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Asia-Pacific Outlook (USD Billion, 2018-2032)
Asia-Pacific Electric Scooter and Battery by Type
Plug-In
Battery-Based
Asia-Pacific Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Asia-Pacific Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
China Outlook (USD Billion, 2018-2032)
China Electric Scooter and Battery by Type
Plug-In
Battery-Based
China Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
China Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Japan Outlook (USD Billion, 2018-2032)
Japan Electric Scooter and Battery by Type
Plug-In
Battery-Based
Japan Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Japan Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
India Outlook (USD Billion, 2018-2032)
India Electric Scooter and Battery by Type
Plug-In
Battery-Based
India Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
India Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Australia Outlook (USD Billion, 2018-2032)
Australia Electric Scooter and Battery by Type
Plug-In
Battery-Based
Australia Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Australia Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)
Rest of Asia-Pacific Electric Scooter and Battery by Type
Plug-In
Battery-Based
Rest of Asia-Pacific Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Rest of Asia-Pacific Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Rest of the World Outlook (USD Billion, 2018-2032)
Rest of the World Electric Scooter and Battery by Type
Plug-In
Battery-Based
Rest of the World Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Rest of the World Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Middle East Outlook (USD Billion, 2018-2032)
Middle East Electric Scooter and Battery by Type
Plug-In
Battery-Based
Middle East Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Middle East Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Africa Outlook (USD Billion, 2018-2032)
Africa Electric Scooter and Battery by Type
Plug-In
Battery-Based
Africa Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Africa Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
Latin America Outlook (USD Billion, 2018-2032)
Latin America Electric Scooter and Battery by Type
Plug-In
Battery-Based
Latin America Electric Scooter and Battery by Product
Retro
Self-Balancing
Folding
Latin America Electric Scooter and Battery by Voltage
24V
36V
48V
More Than 48V
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