PUBLISHER: Renub Research | PRODUCT CODE: 1484129
PUBLISHER: Renub Research | PRODUCT CODE: 1484129
The electric scooter market had a value of US$ 24.67 billion in 2023 and is predicted to attain US$ 50.78 billion by 2032. The market is projected to grow at a compound annual growth rate of 8.35% among 2024 and 2032.
Electric vehicles, together with bikes and scooters, are becoming increasingly popular globally due to improvements in battery technology, environmental effective, and supportive government policies. These vehicles provide efficient, value-added, and eco-friendly transportation for everyday commuters and metropolis dwellers, making them a sizable technique for urban mobility. Electric scooters are emerging as the preferred mode of sustainable city transportation.
China is the largest market for electric scooters, with the highest income and manufacturing hubs. Electric 2 and 3-wheelers are relatively common in China, with about half being battery-powered cars sold. In 2022, China could have about 350 million electric scooters, more than private cars. These scooters are broadly utilized in number one and smaller towns and interior regions of China. India and Southeast Asia are also good-sized markets for electric scooters.
Electric Scooter Market Survey
India Electric Scooter Market
The electric scooter market in India is swiftly growing due to environmental issues, fuel costs, and crowded roads. Electric scooters have turned out to be famous for green city mobility and eco-friendly commuting. The marketplace is growing pretty, especially for medium-pacer models, indicating a shift towards a more environmentally friendly future. In 2023, India sold a total of 15,26,433 electric vehicles across all segments, an increase of 49% YoY. Electric scooters and motorcycles accounted for 857,052 units, or 56.6%, with a solid growth rate of 36%. CY2022 alone contributed to 631,462 of those units.
India Government Initiative in Electric Vehicles
The Indian government brought the National Electric Mobility Mission Plan in 2013 to sell EV adoption and manufacturing in the country. The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) initiative was released as a part of this strategy in 2015 to provide incentives for EV purchase and the development of charging stations. The program has been extended to 2024 with a budget of US$ 1.3 Billion. The FAME II scheme has allotted US$ 122.05 Million in incentives for growing EV charging stations. Currently, 2,877 public charging stations have been established in 68 towns across India, and 1,576 stations will be established over nine expressways and 16 highways. Private players have delivered 3000 charging stations further to those public ones.
Electric Scooter Company Overview
Yadea Technology Group Co. Ltd., Niu Technologies, Mahindra, Vmoto Limited, Amper Vehicles, BMW Motorrad International, Gogoro Inc., Govecs Group, Hero Electric, and Zhejiang Luyuan Electric Vehicle Co. Ltd. are the various leaders within the global electric scooter market.
Electric Scooter Company News
Voltage -Market breakup in 4 viewpoints:
Product -Market breakup in 3 viewpoints:
Battery Type - Market breakup in 3 viewpoints:
End Use - Market breakup in 2 viewpoints:
Country - Market breakup of 25 Countries:
All the Key players have been covered from 3 Viewpoints:
Company Analysis: