The e-scooter financing market refers to the financial services and options available for individuals or businesses to acquire electric scooters through various payment plans. E-scooters have gained popularity as a convenient and eco-friendly mode of transportation, and financing options have emerged to make them more accessible to a broader range of consumers.
According to the e-scooter financing industry analysis carried out by Future Market Insights (FMI), demand for e-scooter financing is expected to increase at a 28.4% CAGR over the forecast period, with the market valuation reaching US$ 20.8 Billion in 2022 and is expected to reach US$ 253.2 Billion by 2032.
Electrically powered scooters are becoming more popular as consumers are preferring personal mobility solutions as compared to public transportation. E-scooters are becoming a more common and vital mode of urban mobility. Rising awareness of environmental pollution and the need to migrate from traditional gasoline-powered vehicles to electric-powered vehicles, which aids in the decarbonization of urban transportation will fuel sales.
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Congestion is one of the most serious urban issues faced by cities, causing endless traffic jams. Using public transport results in delays, poor sanitation, cancellations, last-mile commute issues, and even a lack of safety. Individuals are looking for easy, time-efficient, and cost-effective forms of transportation to get to their destination due to rising traffic congestion and long commutes.
Electric scooters, especially ones manufactured for city transportation, provide a number of advantages. These e-scooters are small enough to fit in public transportation, easy to transfer over short distances, and does not get stuck in traffic in general.
Furthermore, electric scooters are free of oil and fossil fuels, making for a green and peaceful mode of urban transportation. Backed by the aforementioned factors, sales in the global e-scooter financing market are expected to gain traction in the forthcoming years.
“The implementation of technologies such as blockchain and machine learning to improve customer experience across financial institutions, along with increasing popularity of new banks will drive sales in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- By scooter type, the electric moped segment will offer an absolute dollar opportunity of US$ 126.8 Bn.
- Based on provider type, demand in the non-banking finance corporation segment will grow by 13.4x over the forecast period.
- In terms of purpose type, sales in the lease segment are predicted to grow at a CAGR of 3% between 2022 & 2032.
- Germany will create an absolute dollar opportunity of more than US$ 7.8 Bn.
- The demand for E-scooter financing in the U.S. will account for nearly 68.5% of the North America market share.
- Sales in the India E-scooter financing market will grow at a 36.4% CAGR over the assessment period.
Competition Landscape
Bank of America, AEON Credit, Volkswagen Financial Services, HDB Financial Services, IDFC First Bank, Klarna, Katapult, Greaves Finance, L&T Finance, Hyundai Capital and Affirm are some of the leading players operating in the global E-scooter financing market.
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More Valuable Insights on E-Scooter Financing Market
Future Market Insight’s report on e-scooter financing market industry research is segmented into four major sections – scooter type (electric kick scooter, self-balancing e-scooter, and electric moped), provider type (banks, and others (non-banking financial corporations, credit unions)), purpose type (loan, and lease), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and The Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the e-scooter financing demand outlook.
E-Scooter Financing Outlook by Category
By Scooter Type:
- Electric Kick Scooter
- Self-Balancing E-scooter
- Electric Moped
By Provider Type:
- Banks
- Others (non-banking financial corporations, credit unions)
By Purpose Type:
- Loan
- Lease
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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