Product Code: GVR-4-68038-622-6
Scooter Market Growth & Trends:
The global scooter market is expected to reach USD 111.37 billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.1% during the forecast period, according to a new report by Grand View Research, Inc. The rising demand for comfortable rides with a gearless driving system is propelling the growth of the scooter market. Scooters are lightweight, easy to drive, require low maintenance, and are cost-effective, thus widely preferred over other two-wheelers. Besides, the increasing adoption of rental electric scooters for local travel and sightseeing is expected to foster scooters' market growth.
However, various factors drive demand for scooters; the pandemic severely impacted scooter sales from 2019 to 2020. The pandemic has stalled all manufacturing activities globally, which has cascading effects on the production and sales of new scooters. The demand for scooters witnessed an upsurge post-pandemic due to shifting consumer preference towards cost-effective scooters. Furthermore, to increase the penetration of electric scooters, the rental business model is followed by manufacturers. Companies such as Lime, Bird, Skip, Scoot, Spin, and Segway offer electric scooters on a rental basis; the minimum ride cost is $0.15 per minute. Thus, customers prefer rental electric scooters over buying them.
As more automobile manufacturers in the Asia Pacific region are entering the scooter market, it leads to the intensification of competition. Thus, to reduce the fierce competition in the scooter market, manufacturers are adopting a market consolidation strategy. For instance, in May 2021, China-based prominent scooter manufacturer Yadea Technology Group Co., Ltd., Gogoro Inc., and Dachanging Group (DCJ) underwent a joint venture in which Yadea and DCJ invested $50 million. The strategic partnership was established to develop smart infrastructure in the country which will promote the adoption of electric scooters.
Scooter Market Report Highlights:
- The electric scooter segment is estimated to register the highest CAGR of 7.8% during the forecast period due to changing government policy & regulations to adopt electric vehicles. Besides various benefits, such as tax incentives, the low import duty of electric scooters is a crucial factor driving the electric scooter segment
- The conventional scooter segment accounted for the largest revenue share of around 86.9% in 2022. The Conventional electric scooters are lightweight, robust, and have lower initial and maintenance costs than their counterparts, thus widely adopted by consumers.
- Asia Pacific region held the largest market share of 66.4% in 2022. Rising popularity among consumers seeking a comfortable ride with the gearless driving system and at low operating costs compared to the other mopeds has encouraged the regional demand for scooters
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Product type
- 1.1.2. Electric scooter type
- 1.1.3. Regional scope
- 1.1.4. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product type outlook
- 2.2.2. Electric scooter type outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Scooter Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. Scooter Market Analysis Tools
- 3.4.1. Industry analysis - Porter's Five Forces
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
Chapter 4. Scooter Market: Product Type Estimates & Trend Analysis
- 4.1. Scooter Market: Key Takeaways
- 4.2. Scooter Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Normal Scooter
- 4.3.1. Normal scooter market estimates and forecasts, 2018 to 2030 (USD Billion)
- 4.4. Electric scooter
- 4.4.1. Electric scooter market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 5. Scooter Market: Electric Scooter Type Estimates & Trend Analysis
- 5.1. Scooter Market: Key Takeaways
- 5.2. Scooter Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Conventional Electric Scooter
- 5.3.1. Conventional electric scooter market estimates and forecasts, 2018 to 2030 (USD Billion)
- 5.4. Swappable Electric Scooter
- 5.4.1. Swappable electric scooter market estimates and forecasts, 2018 to 2030 (USD Billion)
Chapter 6. Scooter Market: Regional Estimates & Trend Analysis
- 6.1. Regional Outlook
- 6.2. Scooter Market by Region: Key Takeaway
- 6.3. North America
- 6.3.1. North America Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.3.2. U.S.
- 6.3.2.1. U.S. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.3.3. Canada
- 6.3.3.1. Canada Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.4. Europe
- 6.4.1. Europe Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.4.2. UK
- 6.4.2.1. UK Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.4.3. Germany
- 6.4.3.1. Germany Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.4.4. France
- 6.4.4.1. France Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.5. Asia Pacific
- 6.5.1. Asia Pacific Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.5.2. Japan
- 6.5.2.1. Japan Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.5.3. China
- 6.5.3.1. China Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.5.4. India
- 6.5.4.1. India Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.5.5. Australia
- 6.5.5.1. Australia Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.5.6. South Korea
- 6.5.6.1. South Korea Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.6. Latin America
- 6.6.1. Latin America Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.6.2. Brazil
- 6.6.2.1. Brazil Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.6.3. Mexico
- 6.6.3.1. Mexico Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.7. MEA
- 6.7.1. MEA Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.7.2. Saudi Arabia
- 6.7.2.1. Saudi Arabia Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.7.3. South Africa
- 6.7.3.1. Saudi Africa Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
- 6.7.4. UAE
- 6.7.4.1. UAE Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Market Participant Categorization
- 7.2.1. Yadea Technology Group Co., Ltd.
- 7.2.1.1. Company overview
- 7.2.1.2. Financial performance
- 7.2.1.3. Product benchmarking
- 7.2.1.4. Strategic initiatives
- 7.2.2. Ninebot Ltd
- 7.2.2.1. Company overview
- 7.2.2.2. Financial performance
- 7.2.2.3. Product benchmarking
- 7.2.2.4. Strategic initiatives
- 7.2.3. NEUTRON HOLDINGS, INC.
- 7.2.3.1. Company overview
- 7.2.3.2. Financial performance
- 7.2.3.3. Product benchmarking
- 7.2.3.4. Strategic initiatives
- 7.2.4. Bird Rides, Inc.
- 7.2.4.1. Company overview
- 7.2.4.2. Financial performance
- 7.2.4.3. Product benchmarking
- 7.2.4.4. Strategic initiatives
- 7.2.5. Spin
- 7.2.5.1. Company overview
- 7.2.5.2. Financial performance
- 7.2.5.3. Product benchmarking
- 7.2.5.4. Strategic initiatives
- 7.2.6. GOTRAX
- 7.2.6.1. Company overview
- 7.2.6.2. Financial performance
- 7.2.6.3. Product benchmarking
- 7.2.6.4. Strategic initiatives
- 7.2.7. SEGWAY INC.
- 7.2.7.1. Company overview
- 7.2.7.2. Financial performance
- 7.2.7.3. Product benchmarking
- 7.2.7.4. Strategic initiatives
- 7.2.8. Razor USA LLC.
- 7.2.8.1. Company overview
- 7.2.8.2. Financial performance
- 7.2.8.3. Product benchmarking
- 7.2.8.4. Strategic initiatives
- 7.2.9. Uber Technologies Inc.
- 7.2.9.1. Company overview
- 7.2.9.2. Financial performance
- 7.2.9.3. Product benchmarking
- 7.2.9.4. Strategic initiatives
- 7.2.10. OKAI Inc
- 7.2.10.1. Company overview
- 7.2.10.2. Financial performance
- 7.2.10.3. Product benchmarking
- 7.2.10.4. Strategic initiatives