The compact e-scooter market size accounted for about US$ 626.8 Million in 2022 and is anticipated to reach US$ 806.3 by 2032, advancing at a CAGR of 2.6% during the forecast period (2022-2032).
As traffic congestion worsens in and around major cities, commuters are compelled to choose either expensive modes of transportation or homes near the workplace; the compact electric scooter is a modern necessity, thereby spiking the overall demand for compact e-scooters.
The higher sales of compact e-scooters are contributed by those who do not live close to their workplaces and are forced to travel long distances resulting in an elevated transportation nightmare, leading many people to seek out smooth and efficient modes of transportation.
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The rising trajectory of compact e-scooter adoption trends is due to its advantages, including short distance coverage, travelling to locations, and the non-necessity of a four-wheeled vehicle while driving around the town.
People from various countries around the globe are contributing to the demand for compact e-scooters, owing to the e-scooter’s simplicity. When not in use, one can simply fold the scooter and store it anywhere.
The compact e-scooter market size is likely to be expanded as compact/foldable electric scooters are well-known for their fuel efficiency and low greenhouse gas emissions.
Li-ion batteries are lighter and more efficient than sealed lead-acid batteries. They have a higher density, encouraging many to opt for the same, soaring the compact e-scooter market growth.
Foldable electric scooters are a boon to commuters who must rely on public transportation. A compact e-scooter is a good option as it is incredibly compact and does not take up an excessive amount of space.
The same encourages many to opt for compact e-scooters, in turn, auguring well for the compact e-scooter market outlook.
Compact e-scooter market trends and forecast is facilitated by various features associated with compact e-scooters, including economical driving, low maintenance, safe driving mode and a maximum speed limiter.
The incorporation of advanced technologies and smart features in foldable electric scooters is catching consumers’ attention, and the same is likely to open up a wide array of compact e-scooter market opportunities.
The compact e-scooter market is categorized by type, load variation, battery type, voltage, age, distribution channel, and region.
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Key Takeaways:
- Based on age, on account of the growing trend of riding compact e-scooters to work, the adult segment accounts for the majority of compact e-scooter market share.
- During the forecast period, the children segment is also expected to grow rapidly as the majority of manufacturers claim that children over the age of eight can use these electric scooters.
- The Lithium-ion battery segment is expected to dominate the market during the forecast period attributed to its dependability and efficiency.
- Due to the presence of a large number of e-scooter manufacturers, North America market is likely to bring about compact e-scooter market key trends & opportunities.
- Rising pollution and the government’s increasing provision of financial incentives are driving up demand for compact e-scooters in Asia-Pacific.
Competitive Landscape:
Some of the key compact e-scooter companies include
- 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
Key Segments
By Type:
- Unicycle
- Two Wheel
- Three Wheel
By Load Variation:
- Below 40 KG
- 40 to 80 KG
- 80 to 100 KG
- Above 100 KG
By Battery Type:
- Sealed Lead Acid Battery
- Lithium Ion Battery
- Others
By Voltage:
- 24 V
- 36 V
- 48 V
- Above 48 V
By Distribution Channel:
- OEM
- E-Commerce
- Others
By Age:
- Below 20 Years
- 20 to 30 Years
- Above 30 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sector. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behavior.
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