“The scooter industry was on the verge of extinction, but the electronic vehicle model and digitalization have again raised the market and opened several business opportunities for entrepreneurs in E-scooter industry.”
As the world is switching towards electronic vehicles, electronic scooters are grabbing the attention of consumers. People have started to prefer eco-friendly and on-the-go transport modes to beat the traffic and reach their destinations. And there can be no transport better than E-scooters in this regard.
- What is the E-scooter?
- Why is the E-scooter industry noting significant demand?
- In-depth marketing insights of E-scooter industry
- What are the business opportunities in the E-scooter industry?
We will research, analyze and answer all the mentioned questions. Let us uncover E-scooter, E-scooter stats, the E-scooter market, and more.
What is E-scooter?
With the demand for motorbikes, Scooters saw a significant drop in sales. Scooters were heavy compared to Motorbikes. Now with the increasing traffic and pollution, the vehicle industry is again targeting building scooters.
But, this time, they are targeting the factor of easy mobility through lightweight vehicles. And electric scooters that do not require a huge motor engine that demands petrol are ready to take over the market.
Electric cars are also penetrating the market, but E-scooters attract people who want to keep the mobility and lightweight factor on priority. Even the scooters are refreshed with elegant designs that look like a motorbike but are light in weight. They are the perfect mode of transportation for people who want to travel around metropolitan cities where cars are taking up significant space on the roads.
Why is the E-scooter industry noting significant demand?
From no-noise to master mobility and environment-friendly modes of transport, E-scooters have a lot to offer to the audience. Here are the top reasons why the audience is attracted to E-scooters.
Perfect for Short Journeys
E-scooters are perfect for short journeys since 60% of city journeys are in the radar of 10km. E-scooters have a sensible range of riding and can fulfil the needs of majority of the audience in a city. Using on-demand apps like Uber requires waiting for the drivers, and E-scooters are too fast to start and move wherever you want to go.
Hassle-free and Convenient
Urban roads of cities like New York (USA) and Delhi (India) are extremely busy with day-to-day activities. To beat the traffic, a lightweight vehicle becomes of utmost priority. And there can be no vehicle better than a light and fast E-scooter. The more people shift to E-scooters, the roads will become hassle-free.
The climate crisis is on the red alert level. The increasing level of pollution around us is harming the environment to a great extent. E-scooters enforce zero emissions. In all the crowded places, E-scooters are always an Eco-friendly option.
New and Elegant Design
E-scooters today look elegant and catch the attention of people around you. The stylish designs, colors, sizes, and the eco-friendly ride will speak about your personality. It also shows how fast you are going with the trend.
There are ample reasons why the E-scooter is becoming the audience’s choice who prioritizes hustle-free mobility and eco-friendly solutions. Undoubtedly people have multiple reasons to adopt E-scooter, but what the market says about the E-scooter industry. Let us find out.
In depth Market Insights of E-scooter Industry
E-scooter market stats are speaking with a bold voice. Entrepreneurs will find these stats bold enough to think of an opportunity to step into the E-scooter industry. Here are the E-scooter market stats.
The e-scooter market is estimated at $20.78 Billion
As per the GrandViewResearch report, the global market for E-scooter was valued at $20.78 Billion in 2023.
The Global Escooter market will expand with a 7.8% CAGR
GrandViewResearch, in their market analysis report on the E-scooter industry, published that from 2022 to 2030, the Global E-scooter market will rise at the annual growth rate of 7.8%.
Figure 1: GrandViewResearch
Projected revenue in the E-scooter market $1,931 million
As per Statista, the revenue in the E-scooter global market is projected to reach $1931 million in 2023. And the projection by 2027 is $3,117, which is nearly a 2x growth in the coming 4 years. However, 100% of the revenue will be generated through online sales. So, the E-scooter app development market will see a significant amount of boost in the upcoming future.
Figure 2: Statista
Asia Pacific will see the highest market growth for E-scooters
The Asian market will grab the highest market size as per Polaris Market Research. North America, Latin, and Europe will also note significant growth in the market.
Figure 3: Polatis Market Research
48V sub-segment will note the highest profits in the E-scooter industry
As per the Research drive, the 48V sub-segment of E-scooters will generate the highest revenue. It is predicted to generate $3295.7 by 2028 in revenue.
Top apps leading the E-scooter app development market
Lime- #RideGreen is the top Electric Scooter app. The app has 4.8 average reviews with 4.05L reviews and 1cr+ downloads.
Bird — Ride Electric app on Google Play is a leading E-scooter app in the market. It has registered over 1 crore+ downloads and received 1.81L reviews with a 4.7-star overall rating.
China, the US, India and Japan will be key players
Fuji-ta Bicycle Co Ltd. in China, Trek Bicycle Corporation in the USA, and Yamaha Motor Co. in Japan will be the key players in the E-scooter industry. The research was performed by Meticulous Research identifying the E-scooter market.
Mini-Scooters with Foldable feature to generate $806 million
According to Future market insights, the Folding E-scooter market site will generate a revenue of $806 million by 2032.
Lithium-ion batteries will dominate the market by 2030
A global report by Allied Market Research published that the Lithium-ion battery market will increase by 2023.
Business opportunities with E-scooter mobile app development
E-scooter brings an array of opportunities for entrepreneurs. We saw that the majority of the E-scooter sales would be achieved through online mode. Hence, the inclusion of mobile apps, websites, and other digital opportunities will be significantly higher. Here are the top opportunities in the E-scooter industry.
Whether you opt for an E-commerce marketplace mobile app or a website, you are building a sustainable start-up opportunity. You can target a multi-vendor E-commerce marketplace where multiple brands can sell their E-scooters. A multi-vendor e-commerce marketplace works like Amazon, where you do not have a fixed vendor selling the product. However, the niche will be only about E-scooter.
Mobile App for Renting E-scooters
When tourists visit their dream destinations, they want to explore them on their own. The business of renting has become more prominent and is noting a higher growth rate as compared to taxi booking apps. You can build your On-demand Rental E-scooter mobile app. Multiple rental agencies can offer their service on the app, and customers can rent the E-scooters.
E-scooter Mechanical/Washing app
With the rise in the sale of E-scooters, there would be a strong requirement to maintain them. Be it servicing the vehicle, washing it, or ordering the parts like batteries for the E scooter. Customers would want an app where they can book their maintenance and service sessions. Or book their slot to wash their E-scooters.
E-scooter Mechanical/washing app is a great start-up opportunity. Further, you can also provide a special tab for E-scooter batteries and chargers because they will be the backbone of the E-scooter industry.
On-demand E-scooter mobile app development
Since the On-demand industry is leading the market, On-Demand E-scooter mobile app development is a great start-up idea. You can opt for Custom app development like Bird and Lime apps. An On-demand E-scooter app will let users book a two-wheeler E-scooter like Uber.
E-scooter industry brings sustainable opportunities
With the help of the above insights, it’s evident to conclude that the E-scooter industry is a sustainable start-up idea and brings ample opportunities. However, as the industry grows, mobiles and web apps will be the most successful channels associated with the E-scooters.
Whether it is about buying an E-scooter, renting it, sending it to the maintenance/washing centres, or selling batteries, customers will rely on applications to avail of the services. Your foremost step should be to consult a leading E-scooter app development company and discuss your project.
If there is any query, then drop us an email at [email protected]