Foldable Electric Scooter Global Market Report 2024

The foldable electric scooter market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period, growth was fueled by shifts in consumer lifestyles, increased engagement in tourism and leisure activities, innovative marketing strategies, the surge in urban delivery services, and integration with public transportation systems.

The foldable electric scooter market size is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth is expected due to factors such as portability and convenience, increased investment and funding, enhanced brand awareness and marketing efforts, affordability, and growing environmental consciousness. Key trends anticipated in the forecast period include the integration of artificial intelligence (AI) and Internet of Things (IoT), the adoption of eco-friendly materials and manufacturing processes, advancements in urban infrastructure, the expansion of rental and sharing services, and economic recovery stimulating sales.

The surge in environmental concerns is anticipated to drive the expansion of the foldable electric scooter market in the foreseeable future. With escalating issues such as pollution and climate change, there's a growing demand for sustainable transportation solutions. Foldable electric scooters present an eco-friendly alternative, emitting zero harmful pollutants or greenhouse gases, thereby aiding in improving air quality and reducing carbon footprint. This shift away from fossil fuels towards clean and renewable energy sources for transportation is crucial. For example, as per the World Health Organization's September 2022 report, 99% of the global population is exposed to unhealthy air, resulting in 7 million premature deaths annually. Additionally, the European Environment Agency's January 2024 findings highlight 253,000 deaths in Europe alone in 2021 due to chronic exposure to fine particulate matter. Hence, the mounting environmental concerns are a significant driver for the foldable electric scooter market's growth.

The mounting issue of traffic congestion is also expected to fuel the expansion of the foldable electric scooter market moving forward. Traffic congestion, a consequence of surging traffic demand surpassing available road capacity, leads to slower speeds, prolonged trip times, and increased vehicle queues. This problem stems from factors such as population growth, urbanization, rising vehicle ownership, inadequate public transit, and inefficient road infrastructure. Foldable electric scooters offer a solution by maneuvering through traffic more efficiently owing to their compact size, thereby alleviating road congestion. For instance, a January 2023 report from the Federal Highway Administration highlights a 5.6% increase in travel on all roads compared to January 2022, with total vehicle miles reaching 247.3 billion. Seasonally adjusted vehicle miles for January 2023 stood at 272.5 billion, reflecting a 4.5% change over January 2022 and a 3.1% change compared to December 2022. Hence, the escalating traffic congestion is a significant catalyst for the foldable electric scooter market's growth.

Prominent players in the foldable electric scooter market are diversifying their product portfolios by introducing compact motorcycles to cater to a wider customer base. Compact motorcycles are portable, lightweight personal mobility devices tailored for urban commuting, featuring foldable designs for convenient storage. For instance, in September 2023, Honda Motors Co. Ltd. unveiled the Moto Compacto, a foldable electric scooter offering customizable and enjoyable urban mobility solutions. With a 490-watt electric motor, top speeds around 15 mph, and a range of up to 12 miles, it's poised to meet urban commuters' needs. The Moto Compacto is highly customizable, with Honda offering various accessories and parts for personalization. It's designed to complement Honda's forthcoming electric vehicles such as the Prologue and Acura ZDX, providing a seamless last-mile transportation solution.

Major companies operating in the foldable electric scooter market are Xiaomi Corporation, Yadea Group Holdings Ltd., Razor, Niu Technologies, Globber, Segway Inc., Jetson, Mega Wheels, Urban Machine, Swagtron, Unagi Scooters, eMove-Company, EcoSmart, Dualtron X Limited, Spacepac Industries Pty Ltd., Fluidfreeride, Glion Electric Scooter, Hiboy, Inokim Inc., Levy Electric, Minimotors, NanRobot, Shenzhen Iezway Technology, Voro Motors, GOTRAX.

North America was the largest region in the foldable electric scooter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foldable electric scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the foldable electric scooter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Foldable electric scooters are compact, portable personal transportation devices equipped with an electric motor for propulsion. Featuring a foldable design, these scooters can be easily folded and unfolded for convenient storage and transport. Foldable electric scooters typically consist of a deck, handlebars, wheels, and an electric motor powered by a rechargeable battery.

The main types of foldable electric scooter are maximum load below 200 pounds and maximum load 200-250 pounds. Maximum Load Below 200 Pounds foldable electric scooters refer to electric scooters that are designed to support a maximum weight capacity of less than 200 pounds. They utilize sealed lead acid or lithium-ion batteries with voltages ranging from 24v to 48v and above.

The foldable electric scooter market research report is one of a series of new reports that provides foldable electric scooter market statistics, including foldable electric scooter industry global market size, regional shares, competitors with a foldable electric scooter market share, detailed foldable electric scooter market segments, market trends and opportunities, and any further data you may need to thrive in the foldable electric scooter industry. This foldable electric scooter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The foldable electric scooter market consists of sales of electric bikes, electric skateboards, electric kick scooters, and smart foldable electric scooters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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