E-scooter sharing market was valued at USD 22.57 billion in 2022, with a projected growth to USD 40.26 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period.
(WorldFrontNews Editorial):- Austin, Texas Oct 19, 2023 (Issuewire.com) – Based on SNS Insider’s research, the e-scooter sharing market‘s growth is underpinned by a combination of factors, including environmental consciousness, last-mile connectivity, cost-efficiency, technological innovations, regulatory support, investments, pandemic-driven changes in transportation behavior, and urbanization.
The SNS Insider report states that the e-scooter sharing market was valued at USD 22.57 billion in 2022, with a projected growth to USD 40.26 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.5% during the forecast period from 2023 to 2030.
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Market Report Scope
E-scooter sharing, also known as electric scooter sharing, is a micro-mobility service that provides individuals with on-demand access to electric scooters for short-distance travel within urban areas. This innovative mode of transportation allows users to locate, rent, and ride e-scooters through smartphone applications provided by various service providers. Riders can simply unlock an e-scooter with their mobile phones, ride to their desired destination, and then park it at a designated drop-off location, ready for the next user.
The e-scooter-sharing market has experienced exponential growth in recent years, revolutionizing urban mobility and transportation. E-scooter-sharing services are cost-effective compared to owning a personal vehicle or relying on rideshare platforms. With pay-as-you-go pricing models, users can save money on short-distance commutes and avoid the hassles of vehicle ownership, such as maintenance, insurance, and parking fees. Innovations in e-scooter technology have played a pivotal role in market growth. The integration of GPS, IoT sensors, and mobile apps has streamlined operations, ensuring efficient scooter tracking, easy booking, and secure payments. These technological advancements have improved user experiences, contributing to the market’s upward trajectory. Many cities and municipalities have recognized the benefits of e-scooter sharing in reducing traffic congestion and pollution. As a result, regulatory support and framework development have been instrumental in the market’s growth. Clear guidelines and permits have facilitated the expansion of e-scooter fleets into more urban areas.
Impact of Recession
The ongoing recession undeniably presents challenges for the e-scooter-sharing market, affecting consumer behavior, funding, fleet management, and the regulatory landscape. However, it also offers opportunities for companies to redefine their role in the urban mobility ecosystem by focusing on last-mile transportation solutions and innovative adaptations. E-scooter-sharing operators that proactively address these challenges and embrace change are likely to emerge stronger and more resilient in the post-recession era.
Impact of Russia-Ukraine War
The Russia-Ukraine war has had a multifaceted impact on the e-scooter-sharing market. While supply chain disruptions and regulatory challenges pose immediate hurdles, the long-term outlook suggests a growing demand for sustainable transportation solutions. E-scooter-sharing companies will need to adapt to the changing geopolitical landscape and seize opportunities in regions where sustainability and alternative transportation are becoming priorities. As the world navigates these uncertainties, the market is likely to continue evolving in response to the geopolitical developments of our time.
Key Regional Development
North America has emerged as a significant player in the e-scooter-sharing market, with cities like San Francisco, Los Angeles, and Washington D.C. leading the way. Local governments have adopted a proactive approach, regulating e-scooter operations to ensure safety and mitigate concerns related to sidewalk clutter and accidents. European cities have been at the forefront of sustainable urban transportation, aligning well with the eco-friendly nature of e-scooters. Many European cities have integrated e-scooters into their public transportation systems, enhancing connectivity and convenience for commuters. Asia-Pacific is a rapidly growing region for e-scooter sharing, with cities like Beijing, Bangalore, and Singapore witnessing remarkable adoption rates. Rapid urbanization, coupled with traffic congestion, has fueled the demand for affordable and convenient last-mile transportation options.
Key Takeaway from E-Scooter Sharing Market Study
- One prominent trend that has emerged is the increasing dominance of the retro segment. Retro e-scooters are versatile, making them suitable for various urban environments. Whether navigating through crowded city streets or exploring scenic routes, these scooters offer a smooth and enjoyable riding experience. Their versatility makes them an excellent choice for riders with diverse preferences.
- In the realm of e-scooter sharing, technological innovation is poised to revolutionize the industry and solidify its dominance – the Li-ion segment. The Li-ion segment aligns perfectly with the global push toward sustainable transportation solutions. These batteries are recyclable and have a lower environmental impact compared to traditional lead-acid batteries.
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Recent Developments Related to E-Scooter Sharing Market
- The merger between Bird Canada and Bird Global marks a significant development in the e-scooter rental industry, promising to infuse fresh energy and capital into the latter. This strategic move has garnered attention from investors and industry enthusiasts alike, as it holds the potential to reshape the landscape of urban transportation.
- Zypp, a prominent player in the e-scooter sharing industry, has forged a strategic partnership with Spencer’s Retail, marking a significant development in the last-mile delivery sector. Under this innovative partnership, Zypp will leverage its extensive fleet of electric scooters and cutting-edge technology to provide last-mile delivery services for Spencer’s Retail.
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