The E-scooter Market Expected To Be Worth $28.56 Billion By 2025

Electric scooters are a new revolution in the automotive industry. The vehicles work with a battery that can either be recharged or replaced depending on the model. The use of E-scooters is popularized by the growing awareness for global warming. More and more people want to protect our planet from harmful gasses emitted by vehicles. The e-scooter industry has welcomed this with open arms.

European market

In 2017, the sales of electric vehicles in Europe increased by more than 50%, while purchases of gas-powered scooters declined by 40%. The European e-scooter market is doing especially well, and it is expected that the market will increase at almost 15% by 2024. Governments of multiple European countries are offering tax incentives to support this booming industry. These countries are also increasing heavy taxes on gas-powered vehicles.

Within Europe, Germany is known to be the biggest market for electric vehicles. Over 720,000 e-vehicles were sold in 2017, which is a 19% increase compared to the previous year. France also registered a growth of 50% in electric scooter sales. This was owed to a revolutionary national incentive program that offered‎ €200 for every e-bike sale. Italy also had an increase of 25% in these vehicle sales in 2017. This trend is expected to rise and the global e-scooter market is expected to be worth $28.56 Billion by 2025.

Meanwhile, North America has the goal to reach 1.5 million non-emission vehicles by 2025. The market for e-scooters has yet to take off in North America though. Mostly because of complicated traffic laws and fear for public safety.

Manufacturing hubs

Asia Pacific is king when it comes to manufacturing e-vehicles. This is because there is an increased investment in the charging infrastructure that e-scooters need. Countries such as China and Taiwan are emerging as manufacturing hubs for electric scooters. China accounted for around 87% share in the Asia Pacific electric scooter market in 2017.

The e-scooter as an alternative

The e-scooter is well received and often considered a great alternative for driving by car. These vehicles do not only offer the benefits of being eco-friendly, most countries also don’t require drivers to have a specific license, insurance, inspection or parking permit. And although charging systems are still not widely available, they becoming more and more common.

More and more e-scooters are also using solar energy to prolong battery life. This matters, because the rise of fuel prices might be one of the biggest factors as to why e-scooters are becoming more popular. It is expected that the government subsidies focused on getting more e-vehicles out there will only soar in the upcoming years as the fuel prices continue to rise.

Some users have complained about the heavy weight of the e-scooters, as well as the vehicle overheating or rapid discharges in recharged batteries. These are some if the limiting aspects of the e-scooter market.

It seems that the e-scooter market is growing rapidly all over the world. Asia Pacific has evolved as a manufacturing hub and Europe is currently the continent with the biggest market for e-scooters. That might change in the future though. North America, first hesitant to jump on the e-vehicle revolution, is now setting goals to also give them a place in the country.