With growing concerns over traffic congestion and pollution levels, electric scooters have emerged as a sustainable alternative for last-mile connectivity in urban areas. Electric scooters offer affordable, convenient and eco-friendly transportation solutions with zero tailpipe emissions. These scooters are also being increasingly used by shared mobility service providers for first and last-mile connectivity of public transportation systems.

The global Electric Scooter Market is estimated to be valued at US$ 30.36 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The expanding shared mobility services have been a key driver accelerating the growth of the electric scooter market. Major shared mobility service providers are partnering with electric scooter manufacturers to expand their fleets of shared electric scooters. This has significantly boosted the adoption of electric scooters among urban commuters. Several cities across the globe have also introduced supportive policies and infrastructure to promote the use of shared electric scooters. This in turn is encouraging more people to opt for shared electric scooters over private vehicles for short commutes, thereby reducing traffic congestion and carbon emissions in urban areas. The growing popularity of shared electric scooter services is expected to remain a major trend in the electric scooter market during the forecast period.
Segment Analysis
The global electric scooter market is dominated by the lithium-ion battery segment. Lithium-ion batteries have a higher energy density compared to other alternatives such as lead-acid and nickel-metal hydride batteries. Due to their lightweight nature and ability to retain charge for extended periods, lithium-ion batteries are highly suitable for electric scooters. Most electric scooters available in the market are powered by lithium-ion batteries. Manufacturers prefer lithium-ion batteries as they enhance the performance and range of electric scooters.

Key Takeaways
Global Electric Scooter Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The market size is projected to reach US$ 94.56 Bn by 2031, expanding at a compound annual growth rate of 10%. Rapid urbanization and growing environmental concerns are fueling the demand for eco-friendly transportation solutions. Electric scooters are considered environment-friendly as they do not emit pollutants and are more energy-efficient compared to vehicles with internal combustion engines.

Regional analysis: The Asia Pacific region currently dominates the global electric scooter market. Countries such as China, India, and Japan have witnessed rapid adoption of electric scooters over the past few years. Availability of supporting government policies in the form of subsidies and investments in charging infrastructure have boosted the electric scooter market in Asia Pacific. For instance, the 'Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles' (FAME) scheme in India encourages production and adoption of electric vehicles including scooters.

Key players: Key players operating in the electric scooter market include Accenture plc, Hewlett-Packard Company, BAE Systems plc, Tata Consultancy Services Limited, Fujitsu Limited, Lockheed Martin Corporation, Infosys Technologies Limited, Oracle Corporation, Harris Corporation, and IBM Corporation. Accenture and IBM have strategic collaborations with electric scooter OEMs for development and implementation of IoT and cloud-based solutions to enhance customer experience and after-sales services.

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