By 2027, the electric scooter industry is projected to generate US$35.07 billion. The lessening environmental effect of electric scooters is largely responsible for the market expansion. Traditional scooters that are powered by gasoline generate dangerous substances including carbon dioxide, carbon monoxide, and benzene, which are mostly to blame for life-threatening illnesses like cancer and heart disease. The market for electric scooters is predicted to experience growing challenges due to inadequate charging infrastructure in several nations. Developed nations including the U.S., Canada, and other European nations have taken the initiative and put charging stations in public locations like supermarkets, theatres, and restaurants.
The global Electric Scooters Market was valued at US$ 19.30 Bn in 2019 and is expected to reach US$ 35.07 Bn by 2027 at a CAGR of 8.10% between 2020 and 2027.
Key Manufacturers in the Electric Scooters Industry:
1. Amego Electric Vehicles Inc.
Founded in 2010, Amego has become Canada's trusted electric bicycle experts and a leader in the electric bike movement. Its purpose is to transform transportation to enhance the world. Amego focuses on selling electric bikes for transportation as a car alternative. The company has headquarters situated in Toronto, Canada.
2. ECCITY Motocycles
ECCITY Motocycles was created in 2011 and is settled in Grasse in Southeastern France. Eccity designs, manufactures and sells 100 % electric scooters in categories L1e & L3e.
3. Gogoro Inc.
Gogoro Inc. manufactures two-wheeled electric vehicle. The company was founded in 2011 and is based in Taoyuan City, Taiwan. Gogoro Inc. has a strategic partnership with Foxconn Electronics Inc.
4. Honda Motor Co. Ltd.
Honda Motor Co., Ltd. develops, manufactures, and distributes motorcycles, automobiles, power products, and other products in Japan, North America, Europe, Asia, and internationally. Honda Motor Co., Ltd. was founded in 1946 and is headquartered in Tokyo, Japan. In February, 2023 Honda Motor Co Ltd plans to launch a fuel cell vehicle (FCEV) model equipped with the next-generation fuel cell system in 2024, jointly developed with General Motors Company.
5. Jiangsu Xinri E-Vehicle Co., Ltd.
Jiangsu Xinri E-Vehicle Co., Ltd. engages in the research and development, manufacture, and sale of electric vehicles in China. The company offers utility, high speed, moped, bicycle, and E-car related products. It also exports its products to approximately 100 countries and regions. Jiangsu Xinri E-Vehicle Co., Ltd. was founded in 1999 and is based in Wuxi, China.
6. Piaggio & C. SpA
Piaggio & C. SpA, together with its subsidiaries, develops, manufactures, and distributes two-wheeler and commercial motor vehicles. The company was founded in 1884 and is headquartered in Pontedera, Italy. Piaggio & C. SpA is a subsidiary of IMMSI S.p.A.
7. Sanyang Motor Co. Ltd.
Sanyang Motor Co., Ltd. manufactures, processes, and sells automobiles, and scooters and their parts; and provides related technical and consulting services in Taiwan, China, Asia, Europe, and internationally. Sanyang Motor Co., Ltd. in January 2015. Sanyang Motor Co., Ltd. was founded in 1954 and is headquartered in Hukou, Taiwan.
8. TVS Motor Company
TVS Motor Company Limited, together with its subsidiaries, manufactures and sells automotive vehicles and components, spare parts, and accessories in India. The company was incorporated in 1992 and is based in Chennai, India. TVS Motor Company Limited is a subsidiary of Sundaram-Clayton Limited. In November, 2022 TVS Motor Company, a reputed manufacturer of two-wheelers with sales of over three million units globally, inaugurated its first state-of-the-art TVS Experience Centre in Singapore.
9. Vmoto Limited
Vmoto Limited, together with its subsidiaries, manufactures and distributes electric two-wheel vehicles worldwide. Its electric two-wheel vehicles include electric mopeds and motorcycles. The company offers its products primarily under the Vmoto, Super Soco, and E-Max brand names. Vmoto Limited was incorporated in 2001 and is based in Perth, Australia.
10.Yadea Group Holdings Ltd
Yadea Group Holdings Ltd., an investment holding company, researches, develops, manufactures, distributes, and sells electric two-wheeled vehicles and related accessories in the People's Republic of China. Yadea Group Holdings Ltd. was founded in 2001 and is based in Causeway Bay, Hong Kong. In Jnauary, 2023 Yadea Group Holdings Ltd., the world's leading electric two-wheeler brand, made its debut at the Consumer Electronics Show (CES) 2023 in Las Vegas.
*Definition- Electric scooters are plug-in electric vehicles that are propelled by an internal combustion engine in conjunction with an electric battery.
