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Have you ever wondered how much money you could save by buying an electric scooter? How much money could you make if you didn’t have to worry about gas or oil? Now is your opportunity to find out!
The world is evolving towards an increasingly electronic and hybrid society. As such, the e-scooter market is undergoing a drastic change as well. Electric-powered scooters have long been popular among urban riders due to their low weight and convenience.
They have been on the market since 2008. The market saw a CAGR of 19.5% from 2015 to 2021. This is greater than all other types of regular motorcycles, powered and unpowered, combined.
Furthermore, electric scooters outsold motorcycles for the first time in the U.S. market in May 2018. Statistically, the popularity of electric scooters is expected to grow throughout 2021.
This article looks at some key segmentation trends and growth rates for the electric scooter trend in 2021. Let’s have a look.
A Rise in Popularity of E-scooters and the Ride-sharing System
The e-scooter market is growing at a solid pace, especially in the market of shared scooters. This rapid growth is attributed to t
The growing awareness of the health and safety benefits of using an e-scooter. With increasing concerns about air quality, many people are now opting for alternative modes of transportation such as e-scooters.
The experts, who have been monitoring the industry closely, also noticed the increase in usage. Also, they are aware that this invention can be very beneficial if appropriately implemented.
Market needs are changing, as people are increasingly looking for convenience and value.
There is a need among people who cannot handle the strenuous activity of pedaling a bicycle as their only means of transportation. Those people tend to choose scooters over cars and ATVs because of their smaller size and lighter weight.
Since there are so many e-Scooter dealers, one can easily find one that is right for you based on design, features, and price. Some dealers offer e-Scooter rentals, which are convenient for people who do not want to buy a new one. Some high-end models come with premium components like battery life.
Statistics Revolving Around E-scooter Market and Ridesharing System
Global e-scooter industry is predicted to reach $58.2 billion by 2022, expanding at a compound annual rate of 17% from 2017 to 2022 and outperforming all other modes of transportation combined.
The US will be the biggest consumer of e-scooters, purchasing 35.7% of all such devices worldwide in 2022 according to research by Navigraph, a Ride-Haven Inc. subsidiary. Furthermore, the newly-launched i-EV8 will be among the top five mass-market products in the United States in 2022. It will be followed closely by the Tesla Model 3.
Following are a few notable statistics about this market worldwide
- E-scooter market to grow at CAGR of 26.6%
- Global e-scooter market size by value, 2014 – 2021
- Future opportunities for growth in the e-scooter market
- North America will emerge as the largest e-scooter market by 2021
- The ride-sharing system will drive growth in the e-scooter market by 2021
- U.S. and Europe will be the fastest-growing region in the global
- By 2021, 5 million scooters will be purchased in the United States, with 150 million rides per month, generating $20 billion in revenues.
Well, as you can see, the U.S. electric scooter market will continue to increase shortly.
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The Big Players in the Market
It’s been a wild ride so far in the world of e-scooter manufacturers. The major players have entered the market with competing products, high prices, and questionable customer service.
Right now Lime has a major share in the global e-scooter market. Furthermore, it is constantly working to expand its reach in the sector.
The global market for e-scooters was valued at $42.6 billion in 2021, according to IDC. The United States is the dominant market in North America and Europe with a 19% share It was followed by China at 13%, India at 10%, and South Korea at 9%.
Most major U.S. markets have some form of presence in the e-scooter marketplace. With more than 20 active models available for rent or purchase in some cities. E-scooters have been rapidly gaining popularity among urban users as an alternative to public transportation.
With the market’s rapid growth, new players have entered the fray with competitive products offering various features and multifunction devices for e-scooter users. Apple launched the Apple e-scooter in 2015 at the International Consumer Electronics Show (CES) in Las Vegas, Nevada, and other countries. Samsung also entered the fray with its Galaxy E-scooter in December 2016.
Other Key Players
Other key players like TomTom, which manufactures the popular scooters in Europe, entered the fray in March 2017.. With the emergence of e-scooter companies, there has been a concurrent surge in celebrity endorsements.
New models with improved features and specifications compete with older models based on performance, aesthetics, and user-friendliness. The leading brands in the category include Hammerhead, POP stunt, Razor scooter, eBike, and more.
While many of the most prominent players are in the Asia Pacific region, we expect more entrants into this space as demand grows for convenient transportation options in urban environments at lower prices.
As more people become accustomed to using scooters as a mode of transportation over longer distances, it is expected that additional carriers will enter the fray, carving out different distribution channels for other accessories and other mobile goods.
The Future Trends and Opportunities
E-scooters look so futuristic, and e-bikes have so many advantages over other scooters. But because they have not been mass-produced or widely adopted yet, there are still many unknown factors about e-scooters.
One of these factors that need to be understood is the trend towards the smaller size of scooters. Furthermore, the price range of e-scooters is expected to drop over time from around $700 now to about $500.
The two dominant players, HubSpot and Blueray, have entered the competitive fray and are expected to offer hundreds of different models by 2021. Each brand has its unique features and benefits.
Still, they all share the same common thread – an intention to deliver an advanced, wireless personal transportation solution that is easy to ride and fit into any environment. However, just like other technology areas, the e-scooter market is highly dependent on the technological predictability of current trends, which will likely continue in this direction.
The e-scooter marketplace is expected to witness phenomenal growth in the coming years, espousing the quality and quirky design of these self-balancing scooters catering to a broad audience ranging from families to office workers and students. e-scooter will be a valuable addition to the quality transportation ecosystem even though it has yet to be established as a commercially viable entity.
The platform will continue selling its products, making it a desirable option for individuals and businesses. Also for those, who wish to ride or test out alternative transport methods on short notice or who have mobility concerns.
Besides, new players are entering the fray, including electric vehicles (E.V.) scooters and moped-style scooters. The developed countries also provide favorable tax conditions for e-scooter operators, increasing the number of e-Scooters being sold in these countries.
E-scooter sharing App- A new Business opportunity
E-scooter is turning into a cool & trendy accessory for all kinds of people. It's not just a toy; it's an environment-friendly mode of transportation that you may use for commuting or just getting around. Share on X
With hectic lives and work agendas, many of us still prefer the old way of getting around – car, train, or plane – even if it’s just for a short distance. With increasing vehicular traffic and the planning required for such movement, e-scooter offers an alternative and faster way to move around town.
By the help of our app development services, you can now design and build an e-scooter that fits your needs. No longer limited to specific stores or regions, new customers access excellent new products and services.
Furthermore, our innovation platform helps you get certified and launched in new markets with ease. Let us know how we can serve you in your business endeavors!
Let’s Wrap Up
The E-Scooters Market is evolving at a fast pace. People are getting used to an e-scooter being used as a mode of transportation in their daily lives. Also, new players are invading the market, making it harder and harder for existing players to rule the roost.
The e-scooter Market is experiencing a revolution in new ways as people look for alternatives to car ownership and consider the environmental impact of each trip.
Many businesses realize the benefit of offering e-scooters as a service, whether consulting services or rental fees. More and more people are convinced that electric vehicle app development are the future and feel that their long-term health will benefit from increased activity.
As we progress towards a society where many more people are going to cities and traveling by foot, it will be crucial for all cyclists to have options for purchasing a quality and reliable electric bicycle. As it turns out, what many people consider as an “investment” could turn out to be one of the most helpful transportation accessories of the future.
For new firms and startups, the e-scooter sector offers numerous potential. The industry is still in its outset, with several breakthroughs and advancements on the way.
As a result, this is an excellent time to invest in e-scooter app development. Make sure to contact Idea Usher if you’re looking for high-quality e-scooter app development services.
