Used E-Scooter Market to Reach USD 979.5 million by 2034, growing at 3.2% CAGR | Future Market Insights, Inc. | Morningstar

The global used e-scooter market is projected to experience steady growth from 2024 to 2034, with India leading the way at a compound annual growth rate (CAGR) of 4.8%, followed by China at 3.6%. Italy, the United States, and the United Kingdom are also expected to see growth, with CAGRs of 2.1%, 1.8%, and 1.2%, respectively. These trends highlight increasing adoption of eco-friendly, cost-efficient transportation options in key markets.

NEWARK, DE / ACCESSWIRE / October 21, 2024 / According to a study by FMI, the used e-scooter market was valued at USD 714.8 million in 2024 and is projected to grow to USD 979.5 million by 2034, with a compound annual growth rate (CAGR) of 3.2%.

The shift towards electric vehicles, driven by environmental concerns, technological advancements, and cost-effective fuel solutions, is boosting sales of used e-scooters in new regions.

Key trends in the used e-scooter market include the expansion of electric vehicle components and the optimization of e-scooter transmission systems.

Competitive pricing, cashback offers, and online platforms offering detailed product analyses tailored to specific industries are further driving demand for used e-scooters across multiple regions.

Manufacturers are adopting cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) to make e-scooters more advanced and future-ready.

Government incentives, such as subsidies for electric vehicles, are also playing a key role in expanding the used e-scooter market, allowing it to reach new regions.

However, the market was negatively impacted by the COVID-19 pandemic, which led to the shutdown of manufacturing, research and development activities, and retail operations, affecting sales.

KEY TAKEAWAYS:

Asia pacific is one of the highest growing regions for used E-Scooter market as developing country like India is booming at the CAGR 12.8% between 2022-2032 while Brazil thrives at a CAGR of 9.5% through 2032.

Europe also share its fare amount of share in the used e-scooter market as European countries pledge to limit their carbon emissions. Governments run awareness initiatives so that citizens adopt electric vehicles. This drives more traction for used e-scooter market.

Lithium-ion batteryis the biggest segment in the battery type category of used e-scooter marketand will be the largest portion in the forecast period, owing to factors like high-performance delivery, longer shelf life and easy installation.

The two-wheeler segment is the largest segment and will hold the biggest portion of the market in the forecast period, attributed to the factors like common and popular use, easy availability and better price ranges coupled with new integrated technologies.

Vehicle manufacturers keep on experimenting with their designs and technology in order to attract the new set of customers, expanding the used e-scooter market.

Market Value CAGR of Used E-Scooter Market:

Countries

CAGR 2024 to 2034

United States

1.80%

India

4.80%

United Kingdom

1.20%

China

3.60%

Italy

2.10%

"The used e-scooter market is experiencing significant growth as consumers seek affordable, eco-friendly transportation options. With increasing demand for electric mobility and sustainability, second-hand e-scooters are becoming a popular choice in urban areas. The market is expected to expand further as both buyers and sellers recognize the economic and environmental benefits."- follows Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.

Prominent Drivers of the Used E-Scooter Market:

Environmental Concerns: Growing awareness of climate change and the need to reduce carbon emissions is driving demand for electric vehicles, including used e-scooters.

Cost-Effectiveness: Used e-scooters offer a more affordable alternative to new electric vehicles, attracting budget-conscious consumers, especially in emerging markets.

Government Incentives: Subsidies, tax rebates, and policies supporting the adoption of electric vehicles are encouraging the growth of the used e-scooter market.

Technological Advancements: Integration of technologies such as IoT and AI into e-scooters, even in used models, is enhancing user experience and fueling market growth.

Challenges Faced by the Used E-Scooter Market:

Battery Degradation: The lifespan and performance of batteries in used e-scooters can decline, leading to concerns about the long-term reliability of second-hand models.

Limited Charging Infrastructure: In some regions, the lack of widespread and robust charging networks remains a significant barrier to the broader adoption of electric scooters.

Consumer Perception: Potential buyers may have concerns about the quality, maintenance history, and warranty of used e-scooters, which can hinder sales.

Regulatory Challenges: Varying regulations across regions regarding electric vehicle usage and sales can complicate market expansion.

Find the Complete Used E-Scooter Market Report Here:https://www.futuremarketinsights.com/reports/used-e-scooter-market

Regional Outlook of the Used E-Scooter Market:

Asia-Pacific: Countries like China and India dominate the used e-scooter market due to high population density, government support, and growing demand for affordable personal mobility solutions.

Europe: Growing environmental awareness and stringent emission regulations are driving the demand for used e-scooters in European countries such as Germany, France, and the Netherlands.

North America: While still emerging, the market in North America is expected to grow, driven by urbanization, environmental concerns, and increased acceptance of electric vehicles in cities.

Latin America & Africa: These regions are witnessing slower adoption rates due to infrastructure and economic challenges, but growing urbanization and government initiatives may drive future market expansion.

Xiaomi Corporation

Glion

Segway

Voro Motors

Apollo Scooters

GOTRAX

INOKIM

KAABO

Razor

Hover

Bird

Key SegmentationsBy Type:

Unicycle

Two Wheel

Three Wheel

By Wattage:

Up to 250 Watt

250 to 450 Watts

450 to 700 Watts

Above 700 Watts

By Battery Health:

Healthy

Good

Bad

Worst

By Distribution Channel:

OEM

E-Commerce

By Battery Type:

Lithium Ion Battery

Sealed Lead Acid Batteries

Nickel Metal Hydride Batteries

By Region:

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

Author by:

Nikhil Kaitwade(Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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