Electric Scooters Market

Electric Scooters Market: Standard Segment by Product Type Estimated to Register a Significant CAGR over the Forecast Period: Global Industry Analysis and Opportunity Assessment, 2017-2027

The global electric scooters market is estimated to be valued at more than US$ 8,000 Mn by the end of 2017. Revenue from the global electric scooters market is expected to register a CAGR of 3.9% over the forecast period (2017–2027) and be valued at nearly US$ 12,000 Mn by 2027 end. By product type, the standard segment is projected to witness significant growth over the forecast period and is slated to register a CAGR of 4.3% in terms of value.

Attractive incentives and subsidies from various government authorities across the globe expected to fuel the sales of electric scooters

Due to a high purchasing power on the consumer end, sales of conventional scooters has grown manifold. However, the governments of several countries have taken various measures to bring down air pollution levels by enacting rules on the usage of conventional scooters, taxes associated with them and several other regulations. On the other hand, governments are also aiding the rise of hybrid and electric scooters by offering attractive incentives and subsidies to the owners of such scooters. For instance, in China, the government offers a subsidy of US$ 600 to US$ 1,000 to customers on every purchase of an electric scooter or a hybrid scooter, depending on the size of the battery pack. Major cities in China such as Beijing and Shanghai offer free registration plates to the customers of electric scooters. In the United States, the government has allocated grants of about US$ 2.4 Bn for the development of hybrid and electric vehicles and high density batteries. The U.S. administration has also granted incentives to customers of electric vehicles and scooters in the form of tax credits amounting to a maximum of US$ 7,500 based on the type of battery of the hybrid or electric vehicle.

Conservation of fuel and better fuel efficiency are prominent factors encouraging the growth of electric scooters

As per the findings published by the U.S. Department of Energy and California Energy Commission, the percentage of energy from a unit quantity of fuel extracted by the vehicle to initiate and sustain movement is not more than 30%. This implies that the remaining 70% energy from the fuel is wasted in the form of various inefficiencies, such as engine loss, idling loss, drag, resistance to rolling, inertia, sound and heat. On the other hand, electric scooters tend to be more fuel efficient than conventional scooters, as more than 80% energy of the fuel is used for the movement of the scooter, owing to the high efficiency involving in converting chemical energy produced in the batteries to electrical energy. Additionally, in the case of a hybrid scooter, the presence of the internal combustion engine with the electrical system makes the hybrid scooter more economical and easy to drive in conditions where traffic is more.

Electric scooters suffer from reduced performance and speed, compared to their conventional counterparts

The concept of electric scooters is based on the aim of reducing the fuel intake, improving the fuel economy, efficiency and lower tailpipe emissions. It is natural that to fulfil these conditions, there is a reduced performance of the electric vehicle. An electric vehicle model, when compared to the conventional model, has slightly reduced performance figures in order to fulfil the above mentioned criteria and reduce pollution levels. Therefore, customers who are focussed on the performance of a vehicle will choose a conventional vehicle over an electric one, thereby lowering the market value of electric scooters. An electric scooter has a high torque at low speeds but loses its performance at high speeds. It is also to be noted that electric scooters cannot match the top speeds of their conventional counterparts. In addition, the range of an electric vehicle decreases rapidly on a yearly basis. Such type of drawbacks act as a restraint to the growth of the global electric scooters market.

Global Electric Scooters Market Attractiveness Index by Product Type

The standard segment is estimated to dominate the global electric scooters market with more than 60% market value share, valued at over US$ 5,000 Mn by 2017 end. This segment will register a CAGR of 4.3% over the forecast period. The maxi segment is estimated to grow in the global electric scooters market with a 15.3% market value share, valued at over US$ 1,200 Mn by 2017 end. The segment is expected to register a CAGR of 3.0% over the forecast period. The self-balancing segment is a less attractive segment in terms of CAGR and is likely to expand at a value CAGR of only 2.1% over the forecast period. The folding segment will hold 7.9% share of the global electric scooters market by 2017 end and is expected to remain stagnant over the forecast period.

Improvement in the charging infrastructure can boost the overall electric scooters market

The sales of electric scooters can only grow and they can become more popular if there is a supply of quick and reliable charging stations. In the year 2015, electric scooters sold made up around 2% of the total number of vehicles sold worldwide. This is mainly due to the higher flexibility and ease of operation of conventional vehicles when it comes to refuelling the vehicle. A conventional vehicle may take a few minutes to refuel the vehicle completely, while an electric vehicle or scooter on an average takes more than a couple of hours to recharge the batteries for the same driving range. This charging time can be minimised and brought down under one hour if the electric vehicles are charged by direct current. Most of the few charging stations available for electric vehicles in the present scenario provide alternating current sourced directly from the overhead grid lines network. Hence, it is important to provide direct current charging in the charging stations with higher output to reduce the charging time. Also, the charging stations should be more in number so that convenience of charging is increased for the owners of the electric vehicles.

Future Market Insights presents a comprehensive and unbiased outlook on the global electric scooters market in a report titled ‘Electric Scooters Market: Global Industry Analysis and Opportunity Assessment, 2017-2027’. The report starts with an executive summary that states the most important market numbers along with the projected CAGR for the electric scooters market during the forecast period of 2017-2027. The executive summary also gives the important segments that are related to the global electric scooters market. In another part of the executive summary, there is a mention of the global electric scooters market value share by product type, by technology and by battery type. Also, key takeaways regarding the electric scooters market are given in this part of the executive summary. In the final section of the executive summary, concise yet important information regarding the overall market approach of the key players operating in the global electric scooters market is given. Also, target geographies are mentioned in which the best performing regions and the slowest growing markets are mentioned for readers to get an idea about which region is key to the global electric scooters market. Lastly, in the executive summary, differentiating strategies of the key players is stated. The market introduction and taxonomy follow the executive summary.

Market Taxonomy

By Product Type

By Battery Type

By Technology

By Region

  • Standard

  • Folding

  • Self-Balancing

  • Maxi

  • Three-Wheeled

  • Li-Ion

  • NiMH

  • Lead Based

  • Plug In

  • Battery

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific Excluding Japan

  • Middle East and Africa

  • Japan

After the market taxonomy, there is a section of the report devoted to explaining the market definitions pertaining to the global electric scooters market. After this, there is an overview of the electric vehicles market along with key takeaways. In another section of the report, there is an analysis of the global electric scooters market, which highlights key points related to the electric scooters market in China and the issue of the disposal of lead based batteries for electric scooters. After this, the global electric scooters market value (US$ Mn) and volume (units) forecast is given along with key takeaways for that particular section. Thereafter, there is a region-wise analysis of the global electric scooters market volume in which production figures of electric scooters in various regions of the world are given. In another section of the report, there is valuable information regarding electric scooters market replacement rate and product cost teardown of pure electric scooters. Thereafter, there is a section of the report devoted to the listing of the emission rates of electric two wheelers as compared with alternative modes like car, bus and motorcycle. After this section, market value chain analysis of the global electric scooters market is given. Also, there is a section of the report devoted to the region-wise market pricing analysis for electric scooters.

The market dynamics section explains the drivers, restrains, opportunities and trends that are operating in the global electric scooters market. This section of the report is important as it gives the report audience a sense of direction where the global market for electric scooters is heading towards and also explains in detail the various factors due to which the market for electric scooters is booming as well as the factors that hamper the growth of the electric scooters market worldwide. Another section of the report discusses the Porter’s Five Force Model that is important for new entrants to the market and also for established players in the market as it discusses lucidly the framework for analysing the competition in the global electric scooters market along with business strategy development. Thereafter, in the subsequent sections of the report, the global electric scooters market analysis and forecast by product type, by technology, by battery type and by region are given. These sections of the report contain important information like Basis Point Share analysis, year-on-year growth projections, total incremental dollar opportunity and market attractiveness index.

Last but not the least, there is an entire section of the report devoted to the competition landscape of the global electric scooters market. This competition landscape gives a dashboard view of the key companies operating in the global electric scooters market along with their important information and broad strategy adopted to stay as leaders in the electric scooters market. Also, there is a competition analysis mentioned in the completion landscape section of the report, which classifies the key players operating in the global electric scooters market into contenders, competitors and front-runners. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented. A SWOT analysis of each leading market player is also presented, which gives detailed information about the strengths, weakness, opportunities and threats that the company is dealing with. This competition landscape is the most important section of the report as it imparts a deep understanding of the leading companies operating in the global electric scooters market and is valuable for new entrants in the field to understand how the companies are leading this lucrative market and also for established market players to get a better understanding about their competitors.  

Research Methodology

Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies operating in the global electric scooters market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the period of assessment. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. Gathered data is then validated using the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the global electric scooters market.