According to a study by FMI, the used E-Scooter market was valued at USD 671.2 million in 2022 and is expected to reach USD 919.7 million by 2032, growing at a 3.2% CAGR.
People are increasingly turning to electric vehicles due to their environmental benefits, technological integrations, and cost-efficiency, which is driving the sales of used e-scooters in new regions.
The development of electric vehicle components and the optimization of e-scooter transmission systems are shaping trends in the used e-scooter market.
Aggressive pricing strategies, cashback discounts, and the emergence of online platforms with comprehensive product segmentation are enhancing demand for used e-scooters across multiple regions.
Manufacturers are leveraging innovative technologies such as Artificial Intelligence, Machine Learning, and the Internet of Things (IoT) to make vehicles more advanced and futuristic.
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Government incentives for electric vehicles, including e-scooters, which provide subsidies to end users, are also boosting the used e-scooter market, helping it expand into new regions.
However, the used E-Scooter market was adversely impacted by the COVID-19 pandemic, as manufacturing and research & development activities were halted, and retail agencies and showrooms were non-operational.
KEY TAKEAWAYS:
- Asia pacific is one of the highest growing regions for used E-Scooter market as developing country like India is booming at the CAGR 12.8% between 2022-2032while Brazil thrives at a CAGR of 9.5% through 2032.
- Europe also share its fare amount of share in the used e-scooter market as European countries pledge to limit their carbon emissions. Governments run awareness initiatives so that citizens adopt electric vehicles. This drives more traction for used e-scooter market.
- Lithium-ion battery is the biggest segment in the battery type category of used e-scooter market and will be the largest portion in the forecast period, owing to factors like high-performance delivery, longer shelf life and easy installation.
- The two-wheeler segment is the largest segment and will hold the biggest portion of the market in the forecast period, attributed to the factors like common and popular use, easy availability and better price ranges coupled with new integrated technologies.
- Vehicle manufacturers keep on experimenting with their designs and technology in order to attract the new set of customers, expanding the used e-scooter market.
COMPETITIVE LANDSCAPE:
Some of the used E-Scooter market players profiled in the FMI’s study are xiaomi corporation, glion, voro motors, segway, Apollo scooters, GOTRAX, INOKIM, KAABOO, Razor, Hover and Bird.
The competitive landscape of used E-Scooter is dynamic in nature and allows new competitors to thrive in the market and increase competitiveness. The companies in the market are a part of mergers and collaborations that result in increased distribution channels and market spaces. These companies focus on updating the price ranges, making it accessible to use and increasing the security layers.
Recent Developments in the Used E-Scooter Market
- Voro motors have put its new set of refurbished electric scooters at online sale including its latest EMOVE cruiser series, Dualtron and Wolf King with multiple battery options. This pushes the sales of used e-scooter market.
- Razor has introduced its used e-scooter series including Eco smart metro and SUP with E300 and E100. This pushes the sales of used e-scooter in the new regions.
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Key Segmentations
By Type:
- Unicycle
- Two Wheel
- Three Wheel
By Wattage:
- Up to 250 Watt
- 250 to 450 Watts
- 450 to 700 Watts
- Above 700 Watts
By Battery Health:
- Healthy
- Good
- Bad
- Worst
By Distribution Channel:
- OEM
- E-Commerce
By Battery Type:
- Lithium Ion Battery
- Sealed Lead Acid Batteries
- Nickel Metal Hydride Batteries
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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