As per the study at FMI, the used E-Scooter market was valued at US$ 671.2 million in 2022 and is expected to reach US$ 919.7 million by 2032, growing at a 3.2% CAGR.
People are turning towards electric vehicles as they help with environmental concerns, technological integrations and new fuel and cost-friendly prospects, fuelling the sales of used e-scooter in new regions.
Expanding components of electric vehicles and structuring the basic transmission of e-scooters are shaping the trends for the used e-scooter market.
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Aggressive pricing and cashback discounts coupled with online platforms coming up with wide segmentation that gives the end-user an enlarged analysis of the products that are industry-specific, fuelling the demand for used e-scooter in multiple regions.
Manufacturers are integrating with innovative platforms like Artificial Intelligence, Machine learning, and the internet of things (IOT), making the vehicles more advanced and futuristic.
Lucrative government schemes around electric vehicles, including e-scooters, providing subsidies to the end users also flourishes the used e-scooters market, helping the used e-scooter market expand its roots in the new regions.
The Used E-Scooter market has also been adversely impacted through the spread of the coronavirus as the manufacturing and research & development programs were shut, and the retail agencies along with showrooms have not been functional.
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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 2022-2032while 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 battery is the biggest segment in the battery type category of used e-scooter market and 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.
COMPETITIVE LANDSCAPE:
Some of the used E-Scooter market players profiled in the FMI’s study are xiaomi corporation, glion, voro motors, segway, Apollo scooters, GOTRAX, INOKIM, KAABOO, Razor, Hover and Bird.
Key Segments
By Type:
- Unicycle
- Two Wheel
- Three Wheel
By Wattage:
- Up to 250 Watt
- 250 to 450 Watts
- 450 to 700 Watts
- Above 700 Watts
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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
Recent Developments
- Voro motors have put its new set of refurbished electric scooters on sale including its latest EMOVE cruiser series, Dualtron and Wolf King with multiple battery options. This pushes the demand for used e-scooter market.
- Razor has introduced its used e-scooter series including Eco smart metro and SUP with E300 and E100. This pushes the sales of used e-scooterin the new regions.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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