Sales declined in 2019 due to new regulations in China. Market recovery to be driven by government initiatives, urbanization, and growing consumer acceptance for e-scooters
San Diego, Buenos Aires, London, New Delhi, Hong Kong, Beijing, Seoul – January 8, 2019
The global electric scooter (e-scooter) market is expected to grow at a rate of 14% CAGR during the 2020-2025 period, with cumulative shipments crossing 22 million units, according to the latest research from Counterpoint’s Smart Automotive service. The study finds that new regulations in China on e-scooter classification including speed and weight limits, and license requirements, adversely affected the global market in 2019, with many e-scooter companies failing to comply with the new standards.
Exhibit 1: Global E-Scooter Shipments Share by Usage (%)
Discussing the findings, Maurice Klaehne, Research Analyst at Counterpoint said, “China, which accounts for more than 90% of all e-scooters sold globally, will continue to play an important role in the global e-scooter market and drive global demand. Long-term growth in China will be dependent on the government incentives and regulations for e-scooters in the country. Apart from China, countries like India and Indonesia, where two-wheelers are a prominent mode of transport, will also begin to affect global sales by 2025. The sales will benefit from growing income levels, urbanization, government incentives for e-scooters, and consumers’ preference for more cost-efficient and environmentally-friendly transport in these countries.”
Commenting on the growing sales of shared e-scooters, Peter Richardson, Research Director said, “Growth in the shared market mainly comes from service providers including more e-scooters in their fleets, especially in European countries like France and Spain. The market is still nascent and mobility service providers should prepare themselves for fluctuating competition and difficult financing models in the shared market – a few providers have pulled out already. China is likely to enter the shared market in 2021-2022 as restrictions on e-scooter sharing reduce.”
Talking about on the competitive landscape, Peter added, “There has been considerable market consolidation in recent years, and now the top 10 players account for 70% of the global private e-scooter sales. Chinese players Yadea and Aima have been the leaders, with a secondary group consisting of TAILG, XINRI and LUYUAN.”
The comprehensive and in-depth ‘Global E-Scooter Market’ from our Smart Automotive service includes value chain analysis, commentary on market dynamics including market drivers and restraints, and strategic profiles of key players.
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