Scooter market was valued at USD 69.51 billion in 2023 and expected to grow at a CAGR of 5.6% during the forecast period.
A scooter is a type of motorized vehicle that typically has a small frame, two wheels, and a handlebar for steering. It is often used for personal transportation, especially in urban areas, due to its compact size, easy maneuverability, and low cost compared to other motorized vehicles.
Scooters can be powered by gasoline, electric batteries, or hybrid engines. Gasoline-powered scooters typically have a larger engine and higher top speed, while electric scooters are quieter, more environmentally friendly, and less expensive to operate. Hybrid scooters combine the benefits of both gasoline and electric power, offering greater range and fuel efficiency.
Scooters come in various sizes, from small models designed for children to larger models for adults. They can also come in different styles, such as classic Vespa-style scooters, sporty models designed for higher speeds, and off-road scooters designed for rough terrain.
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Numerous powered two-wheel vehicles intended for urban travel, recreational riding, and other uses are included in the scooter market. Electric scooters have substantially changed the market, opening up new niches and business prospects.
The global scooter market has experienced significant growth in recent years due to factors such as increasing urbanization, growing demand for cost-effective transportation options, and the rising popularity of eco-friendly vehicles. The market is expected to continue to grow at a steady rate over the next few years.
Electric scooters have emerged as a major trend in the global scooter market, with the growing popularity of eco-friendly transportation options and increasing investment in electric vehicle technology. The adoption of electric scooters is also driven by the rising awareness of the harmful effects of pollution on the environment and the need for sustainable transportation options.
Asia-Pacific is the largest market for scooters, accounting for a significant share of the global market due to the high population density, increasing urbanization, and growing demand for cost-effective transportation options in the region. Europe and North America are also significant markets for scooters, driven by the increasing demand for eco-friendly transportation options and the growing popularity of electric scooters.
Impact of COVID
The COVID-19 pandemic has had a significant impact on the global scooter market, particularly during the early stages of the outbreak when lockdowns and travel restrictions were imposed in many countries. The pandemic led to a decline in demand for scooters as people stayed at home and avoided non-essential travel.
However, as the pandemic continued and lockdowns were gradually lifted, the demand for scooters started to recover. Scooters emerged as a popular mode of transportation as people sought to avoid crowded public transport and looked for more affordable and convenient ways to commute. This trend was particularly pronounced in urban areas, where scooters offer a cost-effective and efficient alternative to cars.
Furthermore, the pandemic has accelerated the shift towards eco-friendly transportation options, which has been a major driver of growth in the scooter market. The increasing awareness of the harmful effects of pollution on the environment has led to a growing demand for electric scooters, which are seen as a more sustainable mode of transportation.
In response to the pandemic, many scooter manufacturers have implemented measures to ensure the safety of their employees and customers. This includes the adoption of remote working arrangements, social distancing protocols, and enhanced hygiene measures.
Market Segmentation:
- By kind of propulsion
- Traditional scooters that run on gasoline or other fuels are known as internal combustion engine (ICE) scooters.
- Scooters with electric engines and batteries are known as “electric scooters,” and they include:
- Electric kick scooters are lightweight, portable scooters that are best for short commutes.
- Electric Vespa-style scooters: These have a more traditional scooter appearance and are suitable for urban transportation.
- Larger and more powerful electric scooters made for longer travels are known as electric Maximo scooters.
- By engine capacity:
- 50cc and Under: Smaller scooters are frequently utilized for quick city trips.
- Medium-sized scooters between 51 and 125cc are suited for use in cities and suburbs.
- Larger, more powerful scooters with engines that are 126cc and higher are ideal for highways and longer rides.
- After Use:
- Commute Scooters: Designed with features like storage compartments and fuel efficiency for daily commuting.
- Scooters for leisure and recreation: Designed for weekend rides and leisurely adventures, with an emphasis on comfort and style.
- Scooters for delivery and business use: These scooters are made for sending packages, delivering meals, and other business uses.
- Using technology: –
- Regular Scooters: Regular scooters powered by internal combustion.
- Electric Scooters: Scooters that run on batteries and have smart connectivity and regenerative braking.
- In terms of wheel configuration: –
- Standard Scooters: Usually have two wheels that are front and back aligned.
- Three-Wheeled Scooters (Trikes): Those who seek more balance frequently utilize these since they provide improved stability with an additional wheel.
- Depending on Price:
- Low-cost, budget-friendly scooters with the bare minimum of functionality.
- Mid-range scooters: They strike a balance between price and features.
- Advanced features, high-end design, and performance are all included in premium/high-end scooters.
Key Player:
Some of the major companies operating within the market are
- Yadea Technology Group Co., Ltd.;
- Ninebot Limited;
- Neutron Holdings, Inc.; (Lime);
- Bird Rides, Inc.;
- Spin;
- Gotrax;
- Segway Inc.;
- Razor USA LLC;
- Uber Technologies Inc. (Jump);
These players are focusing on product innovation, expansion, and partnerships to strengthen their market position and meet the growing demand for Scooter globally.
Regional Analysis:
The Asia-Pacific region is the largest market for scooters, accounting for around 80% of the global market share. The market is driven by factors such as high population density, urbanization, and the growing demand for affordable and efficient modes of transportation.
Europe is the second-largest market for scooters, accounting for around 15% of the global market share. The market is driven by factors such as the increasing popularity of electric scooters, the need for eco-friendly transportation options, and the rising demand for last-mile transportation solutions.
North America is a relatively small market for scooters, accounting for around 5% of the global market share. However, the market is expected to grow in the coming years, driven by factors such as the increasing popularity of electric scooters and the need for efficient and affordable transportation options.
The rest of the world, including regions such as Latin America, the Middle East, and Africa, accounts for a small share of the global scooter market. However, the market is expected to grow in the coming years, driven by factors such as increasing urbanization and the need for affordable and efficient modes of transportation.
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The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in-depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analysed in terms of following factors such as:
- Business Model
- Production Capacity, Revenue, Sales, Gross Margin
- Key Business Strategy
- SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
- Company Share Analysis from 2018-2022
- Company Analysis by Revenue and Sales
- Company Production Capacity, Gross Margin
- Company Share Analysis by Application/End Use
- Company Share Analysis by Product/Specification
Key Points:
- Define, describe and forecast Scooter Market by type, application, end user and region.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide enterprise external environment analysis and PEST analysis.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
- Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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