The electric scooter market has seen a significant growth in recent years, driven by the increasing demand for eco-friendly and cost-effective transportation options. Electric scooters are lightweight, compact, and can easily navigate through congested urban areas, making them an ideal alternative to cars and public transportation.
According to a report by Allied Market Research, the global electric scooter market was valued at $18.6 billion in 2020 and is projected to reach $51.3 billion by 2028, growing at a CAGR of 12.3% from 2021 to 2028. The Asia-Pacific region is expected to dominate the market, accounting for the largest share of the market due to the high adoption rate of electric scooters in countries like China, India, and Japan.
The major players in the electric scooter market include kukirin, kugookirin, Bird Rides, Lime, Spin, Xiaomi, and Segway-Ninebot, among others. These companies are constantly innovating and improving their products to meet the growing demand for electric scooters. The market is also witnessing the emergence of new players, particularly in the sharing economy, with companies like Voi, Tier, and Dott expanding their operations globally.