How Has The Scooter Market Size Evolved Historically?
The scooter market has seen considerable growth due to a variety of factors.
• Over the past few years, the scooter market has seen robust growth. It is projected to expand from $72.93 billion in 2024 to $78.06 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.0%. This vigorous growth during the historical period can be ascribed to several factors including urban congestion, escalating fuel costs, environmental issues, ease of maneuverability, a younger demographic, the emergence of the sharing economy, and shifts in lifestyle trends.
What is the Forecasted Market Size and CAGR for the Scooter Market?
The Scooter market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, it is anticipated that the scooter market will witness robust growth, ballooning to $102.71 billion by 2029 with a compound annual growth rate (CAGR) of 7.1%.
This anticipated expansion during the forecast period is driven by numerous factors including the incorporation of smart connectivity features, proliferation of scooter-sharing services, emphasis on eco-conscious production processes, bespoke options for users, and advancements in scooter design, alongside the cost-effectiveness for short distance travel. Predominant trends for the mentioned forecast period include the enhancement of smart features, sleek and compact designs, advancements in technology, shifting consumer tastes, inclusion of sophisticated safety aspects, progressions in charging infrastructure and strategic partnerships with ride-hailing platforms.
What Key Factors and Trends Are Driving The Growth Scooter Market?
Investments directed towards road construction act as a catalyst for the scooter market. The repair, maintenance and construction of brand-new thoroughfares are essential for improved transport accessibility. High-quality roads are particularly beneficial for vehicles, notably two-wheelers, offering them a smooth travel devoid of hindrances and jolts. Thus, it can be observed that scooters function more productively on properly constructed roads. Nations globally are stepping up investments in road construction intending to enhance their transportation provisions. For example, the Ministry of Road Transport and Highways in India has been granted a fund amounting to $13.14 billion by the national government for the purpose of highway and road development. Such amplified investments will likely accelerate the growth of the scooter market.
What Are The Market Segments In The Scooter Market?
The scooter market covered in this report is segmented –
1) Product Type: Electric Scooters, Gas Scooters, Kick Scooters
2) By Application: Commercial, Individual
Subsegments:
1) By Electric Scooters: Lithium-Ion Battery Electric Scooters, Lead-Acid Battery Electric Scooters, High-Speed Electric Scooters, Foldable Electric Scooters, Off-Road Electric Scooters
2) By Gas Scooters: 50cc Gas Scooters, 150cc Gas Scooters, Heavy-Duty Gas Scooters, Retro Gas Scooters
3) By Kick Scooters: Adult Kick Scooters, Kids Kick Scooters, Folding Kick Scooters, Stunt Kick Scooters
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What Trends Are Shaping The Scooter Market?
One significant trend in the scooter market is the role of technological advancements. Scooters are being manufactured with the help of technologies like artificial intelligence that oversee traffic, ensure back-up power for electric scooters, aid in delivery services by tracking locations, identifying parking spots and more. In April 2022, Voi Technology, a Swedish micro-mobility start-up that provides electric scooters for short-distance travel, entered into a partnership with Drover AI. Under this partnership, Voi will leverage AI to introduce computer vision in their e-scooters across Oslo, regulating sidewalk driving, adjusting e-scooter parking areas, and ensuring safer driving experiences. Drover AI is a software development firm that develops IoT solutions powered by AI to handle fleets of short-distance vehicles.
Who Are the Key Players In The Scooter Market?
Major companies operating in the scooter market include:
• Yadea Technology Group Co. Ltd.
• Ninebot Limited
• Neutron Holdings Inc.
• Bird Rides Inc.
• Honda Motor Co. Ltd.
• Yamaha Motor Pvt. Ltd.
• Piaggio & C SpA
• Suzuki Motor Corporation
• Hero MotoCorp Ltd.
• Bajaj Auto Ltd.
• TVS Motor Company Ltd.
• Mahindra & Mahindra Ltd.
• Kawasaki Heavy Industries Ltd.
• Sanyang Motor Co. Ltd.
• Gogoro Inc.
• NIU Technologies
• Segway Inc.
• Razor USA LLC
• Okinawa Autotech Pvt. Ltd.
• Ather Energy Pvt. Ltd.
• Ampere Electric Vehicles Pvt Ltd.
• Revolt Intellicorp Pvt. Ltd.
• Ola Electric Mobility Pvt. Ltd.
• Zhongneng Vehicle Group Co. Ltd.
• Baotian Motorcycle Industrial Co. Ltd.
• Bashan Motorcycle Manufacturing Co. Ltd.
What Are The Regional Insights Into The Scooter Market?
Asia-Pacific was the largest region in the scooter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the scooter market report during the forecast period. The regions covered in the scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
