Compact E Scooter Market Share, Opportunities, Industry 2031
Compact E Scooter Market Share, Opportunities, Industry 2031
Segments - Compact E-scooters Market by Types (Unicycle, Two-wheels, and Three-wheels), Voltage (24V, 36V, 48V, and Above 48V), Battery Types (Sealed Lead Acid Battery, Lithium-ion Battery, and Others), End-users (Children and Adults), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :AL-4720
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Report Description
The global compact electric scooter market size was valued at around USD 617.01 million in 2022 and is expected to reach USD 791.10 million by 2031, expanding at a CAGR of 2.8% during the forecast period, 2023–2031.
The growth of the market is attributed to rapid modernization, affordability, high mechanical efficiency, low noise levels, and rising concerns over greenhouse gas and carbon emissions. Compact e-scooter is known for their fuel efficiency and low greenhouse gas emissions. A compact electric scooter is powered by electric power or a combination of electric batteries.
Electric scooters are equipped with LED lights which need a low amount of energy. This scooter provides additional advantages including flexibility, agility, versatility, eco-friendly, and ease of maneuver in high-traffic congestion areas.
Compact/Foldable electric scooters act as a boon to commuters who relies on public transportation, their compact e-scooter becomes a good option as it does not take up excessive space and offers ease to travel for short-distance transportation. Compact e-scooter is incorporated various features such as low maintenance cost, economical driving, maximum speed limiter, and a safe driving mode.
COVID-19 Impact on Compact E Scooter Market
The overall automotive industry was impacted adversely by the COVID-19 pandemic. Governments across the globe have implemented strict social distancing policies to combat the COVID-19 pandemic, thus the number of public commuters on roads has decreased which in turn severely impacts the demand for e-scooters globally.
The decline in the growth of compact e-scooter is due to low automotive sales across the globe as offices were shut and employees were asked to follow work from home as per government rules and regulations. In 2021, the introduction of COVID-19 vaccines is projected to benefit the automation industry, although the pandemic’s duration is difficult to predict.
Compact E Scooter Market Dynamics
The report presents a complete market overview, and market dynamics by focusing on the current market trends, existing drivers, growth opportunities, and emerging challenges that shape the outcome or overall performance of the market during the forecast period, 2022 to 2030.
Major Drivers: Low operating and maintenance costs
The research report finds that the low operating and maintenance costs are anticipated to drive market growth. The increasing prices of petroleum products are anticipated to propel market expansion. Customers from developing countries are affected by the increased cost of petrol.
Electronic systems are more durable and efficient than mechanical models or conventional vehicles. Compact electric scooters break less often due to less wear and less friction. Electrical scooters operating on electricity is expected to decrease operating cost and increase their efficiency more than conventional vehicles. Electric vehicles have a positive impact on air quality and energy security.
Current Restraints: Lack of charging infrastructure and incidents of battery overheating and fire
Lack of charging infrastructure and incidents of battery overheating and fire are expected to hamper the market. Many countries lack charging facilities of their own. Manufacturers have started providing charging facilities of their own across the globe.
For instance, ChargePoint (US) builds and designs technology for the charging network, such as power management software and charging station hardware for a mobile application. According to customers’ demand, ChargePoint has charging stations for each type of vehicle.
Market Opportunities: Decreasing battery prices
The majority of vehicles need a replacement of batteries after a few years. Batteries account for around 60%-70% of the total cost of an electric two-wheeler as per the pricing analysis of current electric scooters & motorcycles. Battery cost is an important factor when manufacturing electric scooters in terms of maintenance and initial cost.
The continuous fall in lithium battery prices is projected to make electric scooters much more affordable, as the majority of the OEMs are using lithium batteries in their electric two-wheelers. According to industry experts, the price of lithium batteries is expected to fall below USD 100 per kWh. A fall in battery price is expected to create lucrative opportunities for OEMs.
Scope of the Compact E Scooter Market Report
The report on the compact e-scooter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Compact E-Scooter Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Types (Unicycle, Two-wheels, and Three-wheels), Voltage (24V, 36V, 48V, and Above 48V), Battery Types (Sealed Lead Acid Battery, Lithium-ion Battery, and Others), and End-users (Children and Adults) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Xiaomi Corporation; Pride Mobility Products Corp; Segway; Megawheel; GOTRAX; Shenzhen Lezway Technologies; Spacepac Industries Pty Ltd.; Turboant; E-Twow; Hiboy; INOKIM; Glion; Razoe; Mercane Wheels; XOOTR; EcoReco; and Others |
Compact E Scooter Market Segment Insights
Two-wheels segment to expand at a considerable CAGR
On the basis of types, the compact e-scooter market is divided into unicycle, two-wheels, and three-wheels. The two-wheels segment is expected to expand at a considerable CAGR during the forecast period, due to the high compatibility and ease to ride while short-distance coverage.
The unicycle segment is anticipated to account for a major market share during the forecast period. The electric unicycle has many benefits such as it last 60 miles on an 8-hours charge and it can go 80 miles on a 4-hours charge.
36V segment to hold a significant share of the market
Based on voltage, the compact e-scooter market is divided into 24V, 36V, 48V, and Above 48V. The 36V segment is anticipated to hold a significant share of the market, as these batteries deliver superior power output and offer compatibility with e-scooters.
The 48V segment accounts for a significant market share. The 48V segment registers a CAGR of 11.7% from 2021 to 2030. High voltage batteries are upgraded with recovery and start-up features to reduce CO2 emissions into the environment.
Batteries segment to expand at a substantial CAGR
In terms of batteries, the compact e-scooter market is segmented into sealed lead acid batteries, lithium-ion batteries, and others. The Lithium-ion battery segment is expected to expand at a substantial CAGR during the forecast period, owing to its efficiency and dependability.
The sealed lead-acid battery segment is also expected to grow at a rapid pace, due to its low-cost benefits and robustness. These batteries include high-discharge cycles, which keeps them safe from damage.
Adult segment register considerable market share
Based on end-users, the compact e-scooter market is bifurcated into children and adults. The adult segment is expected to register a considerable market share, as more commuters are adults. However, the children segment is also anticipated to grow rapidly, as the manufacturers claim that children over the age of eight can use these e-scooters.
Asia Pacific is anticipated to constitute a key market share
On the basis of regions, the compact e-scooter market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia-pacific is anticipated to constitute a key market share during the forecast period, as China and Japan hold the larger market share. China is the world's largest producer as well as buyer of electric vehicles expanding around at a CAGR of 23.6% through 2032.
However, the market of North America is anticipated to expand at a rapid pace in the coming years, owing to its gained popularity among adults and due to its features such as being cost-effective, environmentally friendly, and safer to ride.
Segments
The compact e-scooter market has been segmented based on
Types
- Unicycle
- Two-wheels
- Three-wheels
Voltage
- 24V
- 36V
- 48V
- Above 48V
Battery Types
- Sealed Lead Acid Battery
- Lithium-ion Battery
- Others
End-users
- Children
- Adults
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global compact e-scooter market are Xiaomi Corporation; Pride Mobility Products Corp; Segway; Megawheel; GOTRAX; Shenzhen Lezway Technologies; Spacepac Industries Pty Ltd.; Turboant; E-Twow; Hiboy; INOKIM; Glion; Razoe; Mercane Wheels; XOOTR; EcoReco; and Others.
Some of these players have adopted a series of business development strategies including merger and acquisition, entering into partnerships and collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
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Hyundai Motor Group has introduced a new electric scooter that can be folded down to the size of a backpack and has a range of 20 kilometers and a 10.5 Ah lithium battery.
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Raine Electric Scooters offers a variety of scooters for children over the age of eight, these scooters are small in size, have a safe driving mode, and have a maximum speed limiter.
Frequently Asked Questions
Key players competing in the global frozen yogurt market are Xiaomi Corporation; Pride Mobility Products Corp; Segway; Megawheel; GOTRAX; Shenzhen Lezway Technologies; Spacepac Industries Pty Ltd.; Turboant; E-Twow; Hiboy; INOKIM; Glion; Razoe; Mercane Wheels; XOOTR; EcoReco; and Others.
The market of Asia-pacific is anticipated to constitute a key market share during the forecast period.
The global electric scooter market is expanding at a CAGR of 2.8 % during the forecast period, 2023–2031.
Low operating and maintenance costs are anticipated to drive market growth.
The global electric scooter market size was valued at around USD 617.01 million in 2022.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Compact E-Scooter Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Compact E-Scooter Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Compact E-Scooter Market - Supply Chain
4.5. Global Compact E-Scooter Market Forecast
4.5.1. Compact E-Scooter Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Compact E-Scooter Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Compact E-Scooter Market Absolute $ Opportunity
5. Global Compact E-Scooter Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Compact E-Scooter Market Size and Volume Forecast by Types
5.3.1. Unicycle
5.3.2. Two-wheels
5.3.3. Three-wheels
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Compact E-Scooter Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Compact E-Scooter Market Size and Volume Forecast by End Users
6.3.1. Children
6.3.2. Adults
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Compact E-Scooter Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Compact E-Scooter Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Compact E-Scooter Demand Share Forecast, 2019-2026
8. North America Compact E-Scooter Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Compact E-Scooter Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Compact E-Scooter Market Size and Volume Forecast by Types
8.4.1. Unicycle
8.4.2. Two-wheels
8.4.3. Three-wheels
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Compact E-Scooter Market Size and Volume Forecast by End Users
8.7.1. Children
8.7.2. Adults
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Compact E-Scooter Demand Share Forecast, 2019-2026
9. Latin America Compact E-Scooter Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Compact E-Scooter Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Compact E-Scooter Market Size and Volume Forecast by Types
9.4.1. Unicycle
9.4.2. Two-wheels
9.4.3. Three-wheels
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Compact E-Scooter Market Size and Volume Forecast by End Users
9.7.1. Children
9.7.2. Adults
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Compact E-Scooter Demand Share Forecast, 2019-2026
10. Europe Compact E-Scooter Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Compact E-Scooter Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Compact E-Scooter Market Size and Volume Forecast by Types
10.4.1. Unicycle
10.4.2. Two-wheels
10.4.3. Three-wheels
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Compact E-Scooter Market Size and Volume Forecast by End Users
10.7.1. Children
10.7.2. Adults
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Compact E-Scooter Demand Share Forecast, 2019-2026
11. Asia Pacific Compact E-Scooter Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Compact E-Scooter Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Compact E-Scooter Market Size and Volume Forecast by Types
11.4.1. Unicycle
11.4.2. Two-wheels
11.4.3. Three-wheels
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Compact E-Scooter Market Size and Volume Forecast by End Users
11.7.1. Children
11.7.2. Adults
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Compact E-Scooter Demand Share Forecast, 2019-2026
12. Middle East & Africa Compact E-Scooter Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Compact E-Scooter Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Compact E-Scooter Market Size and Volume Forecast by Types
12.4.1. Unicycle
12.4.2. Two-wheels
12.4.3. Three-wheels
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Compact E-Scooter Market Size and Volume Forecast by End Users
12.7.1. Children
12.7.2. Adults
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Compact E-Scooter Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Compact E-Scooter Market: Market Share Analysis
13.2. Compact E-Scooter Distributors and Customers
13.3. Compact E-Scooter Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Xiaomi Corporation
13.4.2. Pride Mobility Products Corp
13.4.3. Segway
13.4.4. Megawheel
13.4.5. GOTRAX
13.4.6. Shenzhen Lezway Technologies
13.4.7. Spacepac Industries Pty Ltd.
13.4.8. Turboant
13.4.9. E-Twow
13.4.10. Hiboy
13.4.11. INOKIM
13.4.12. Glion
13.4.13. Razoe
13.4.14. Mercane Wheels
13.4.15. XOOTR
13.4.16. EcoReco
13.4.17. Others
Methodology
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