The global three-wheel e-scooter market size is likely to reach USD 1,074 million in 2024. Witnessing a CAGR of 2.4% from 2024 to 2034, the market is projected to attain a value of around USD 1,361.4 million by 2034.
Three-wheel e-scooters have become increasingly popular across the globe due to their ease of use and unique design. These are specifically designed to provide higher stability with an extra wheel compared to conventional two-wheel e-scooters.
Hence, adults, children, and beginners who might otherwise be concerned about balancing on two wheels are estimated to demand these. These help in reducing the chances of tipping over, mainly while navigating uneven terrains or taking sharp turns.
| Attributes | Description |
|---|---|
| Estimated Global Three-wheel E-scooter Market Size (2024E) | USD 1,074 million |
| Projected Global Three-wheel E-scooter Market Value (2034F) | USD 1,361.4 million |
| Value-based CAGR (2024 to 2034) | 2.4% |
Companies are focusing on the manufacturing of three-wheel e-scooters equipped with lithium-ion batteries to gain more customers. The total cost of these batteries declined significantly since 2021. In 2010, these were priced at over USD 1100, which came down to around USD 156 in 2020 and were anticipated to slightly decline to USD 100 in 2023.
The immense cost reduction was a result of the high demand for electric vehicles. With increasing research and development activities to enhance battery life, reduction in the cost is here to stay. Lead-acid batteries, on the other hand, have a short lifespan and low energy density. Hence, customers are set to prefer lithium-ion batteries due to their cost-effectiveness.
Three-wheeled e-scooters running on lithium-ion batteries provide improved performance as well as battery life. Their better efficiency, energy density, and high discharge rate are anticipated to push sales.
The implementation of strict norms worldwide is further projected to bolster sales of three-wheel e-scooters in the estimated period. Various international and national agencies are focusing on investing in research and development activities associated with mobility aids.
In May 2024, for instance, Ford Motor Co., based in the United States, announced that it would support the Biden administration's initiative to reduce vehicle emissions through 2032. The company has taken several steps to ensure compliance with stringent emission norms. With several automakers joining the bandwagon, the industry is likely to rise at a fast pace.
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The annual growth rates of the business from 2024 to 2034 are illustrated in the table below. Starting with the base year 2023 and going up to the present year 2024, the report examines how the growth trajectory changes from the first half of the year, i.e. January through June (H1) to the second half consisting of July through December (H2). This gives stakeholders a comprehensive picture of the industry’s performance over time and insights into potential future developments.
In the first half (H1) from 2023 to 2033, the market is predicted to show a CAGR of 2.2%, followed by a slightly higher growth rate of 2.4% in the second half (H2) of 2023 to 2033.
| Particulars | Value CAGR |
|---|---|
| H1 | 2.2% (2023 to 2033) |
| H2 | 2.4% (2023 to 2033) |
| H1 | 2.3% (2024 to 2034) |
| H2 | 2.5% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2024, the CAGR is projected to slightly decrease to 2.3% in the first half and it will likely increase to 2.5% in the second half.
Flourishing Online Food Delivery Services to Bolster Demand
The popularity of online food delivery apps has surged drastically across the globe as more customers are choosing to order their meals online. These apps provide the convenience of ordering from one’s comfort zone and getting their food delivered to their doorstep.
As more apps like Grubhub, DoorDash, and Uber Eats are emerging globally, companies are striving to launch new in-app features, including real-time tracking, a wide range of items to choose from, and cash on delivery. The outbreak of the COVID-19 pandemic exponentially increased the need for such apps back in 2020 and this trend is not showing any signs of diminishing even today.
To compete with their rivals, leading food delivery service providers are also introducing options like ‘10-minute or 30-minute delivery.’ With busy lifestyles, modern consumers prefer speedy delivery or guaranteed cashback.
To provide delivery executives with a safe mode of transportation through busy streets, these companies are purchasing three-wheel e-scooters in bulk at a relatively low cost directly from the manufacturers. This factor is estimated to augment demand in the assessment period.
Growing Awareness of Power Mobility among Individuals with Limited Ability to Walk
The term power mobility has gained traction in recent years with rising technological innovations. Individuals are seeking such solutions to be able to move more independently outdoors or indoors.
Three-wheel e-scooters are set to become immensely popular among those suffering from obesity, lower body weakness, reduced functional activity tolerance, arthritis, stiffness, lung disease, and low stamina. They are opting for these e-scooters even for a short trip to the nearest shopping mall.
Companies are targeting customers from these specific groups to increase sales. They are also offering innovative features like touchscreen, Bluetooth, and music players to attract new customers. These e-scooters are likely to enable individuals with limited ability to walk to perform certain tasks that may otherwise not be possible to complete.
As per the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) caused about 3.23 million deaths across the globe in 2019 alone. Around 90% of these deaths occurred in middle- and low-income countries among individuals under 70. These numbers are predicted to soar in the estimated period, thereby creating a surging demand for three-wheel e-scooters.
Terrain Limitation, Speed Limit Concerns, and Learning Curve to Hamper Demand
Even though three-wheel e-scooters are more stable than two-wheel ones, the learning curve for beginners can hamper demand. Riding these scooters requires proper coordination and balance. Beginners are anticipated to require more practice before they can confidently ride these through several terrains.
A few three-wheeled e-scooters can reach very high speeds depending on their model. Added stability combined with high speed is projected to surge the risk of accidents if riders are not careful. It can be a challenging task to maintain control of the scooter when it is moving at high speed. Hence, complying with speed limits and wearing protective gear becomes essential.
High versatility of these scooters can limit their performance across different types of roads. Those preferring off-road adventures involving uneven, rough surfaces can face challenges on these scooters. Owing to the aforementioned factors, demand is anticipated to decline in the forecast years.
Principal Consultant
The global three-wheel e-scooter market witnessed a CAGR of around 1.5% in the historical period between 2019 and 2023. It reached a value of USD 974.3 million in 2019 and attained USD 1,048.8 million in 2023. It is estimated to rise steadily at a CAGR of 2.4% in the forecast period from 2024 to 2034.
The COVID-19 pandemic which started back in December 2019, created havoc worldwide with governments implementing strict lockdowns and social distancing norms. When lockdowns were gradually lifted, there was a rising demand for personal mobility solutions to go to places like shopping centers and workplaces, to avoid sharing rides with other individuals.
It further resulted in a high demand for these e-scooters, especially among those with limited mobility. These also gained traction among companies providing essentials at the customer’s doorstep. Delivery executives carrying several goods at a time needed a reliable mode of transportation to reach their customers on time. It created a massive demand for these e-scooters worldwide.
In the forecast period, sales are likely to surge at a considerable pace with increasing demand from law enforcement agencies in both developed and developing countries. The Trikke POSITRON, for instance, is fully made of steel and is meant for police operations, especially for completing heavy-duty work cycles.
It caters to the need for efficient and reliable transportation solutions from law enforcement agencies. It is equipped with rear-view mirrors, full suspension, an RFID key, all-wheel disc brakes, dual-color emergency lights, and other features. With the launch of such fully functional three-wheel mobility solutions for the police department, demand is anticipated to skyrocket by 2034.
Tier 1 companies are considered the most significant part of the supply chain. These provide key components directly to original equipment manufacturers (OEMs). Supply chain management requires the development of a tiered structure.
Tier 1 companies help to connect significant business processes and functions in the supply chain with an integrated organization model. A few companies in the Tier 1 category include Piaggio, Yamaha, Peugeot, and Honda.
Companies in the Tier 2 category offer their products to Tier 1 players. They are primarily responsible for commencing the development of the final product. Compared to Tier 1 companies, Tier 2 players are small-scale. However, they form an important element of the supply chain and ensure that it is operating smoothly.
Tier 2 players often need to comply with strict safety norms and standards set up by government bodies to operate in the market. They also focus on reducing the risk of disruptions in the supply chain. A handful of companies in Tier 2 are Kymco, Avida, Qooder, and Tilting Motor Works.
Tier 3 companies are usually small-sized companies operating at the local level. They provide close-to-raw or raw materials, such as plastic, steel, or aluminum. These companies mainly deliver a platform for Tier 1 and Tier 2 to work on. Doohan, EcoReco, Scrooser, and Sway Motorsports are a few Tier 3 companies.
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The table below shows the estimated CAGRs of several countries worldwide. This information would enable stakeholders to get a better understanding of the growth trajectory in every country. They can then make significant business decisions to invest in specific countries.
India is projected to remain at the forefront with a CAGR of 3.6%, followed by China at 2.7% from 2024 to 2034. Spain, the United States, and South Korea are likely to remain closely behind with CAGRs of 1.8%, 1.3%, and 1.1%, respectively.
| Countries | CAGR 2024 to 2034 |
|---|---|
| India | 3.6% |
| China | 2.7% |
| United States | 1.3% |
| Spain | 1.8% |
| South Korea | 1.1% |
India is estimated to witness a CAGR of around 3.6% in the forecast period. The rising geriatric population in the country will likely surge the demand for power mobility solutions by 2034. According to the United Nations Population Fund (UNFPA), in India, the elderly population (60 years and above) is projected to reach 347 million by 2050 from the current 153 million status.
In May 2024, for instance, Kela Son’s launched a new three-wheeled electric scooter in India named the PeV Phantom. It is mainly designed for the geriatric population. It has a fiber body and a halogen headlight.
It features two separate seats, unlike conventional scooters. The seats can be adjusted and reclined as per the comfort level of the riders. At the same time, it comes with ample storage space and a 60V 32AH lead-acid battery. Similar models are anticipated to be launched in the country during the estimated period, thereby propelling sales.
China is likely to showcase a CAGR of 2.7% in the assessment period. The presence of several well-established logistics companies across the country is anticipated to raise demand for these e-scooters. These companies are striving to manage their warehouses to prevent issues like tight shipping schedules and fluctuating product prices.
The ongoing expansion of e-commerce platforms in China is another significant factor bolstering demand. These companies are acquiring three-wheel e-scooters equipped with automation features, such as route enhancement and inventory details. These scooters are set to enable the staff to easily move through various parts of the warehouse and manage stock.
The companies are also investing in AI integration into these e-scooters to enhance efficiency by optimizing real-time tracking. Often, customers face frustrations because the product they order online shows up as ‘out of stock’ at the time of delivery, thereby leading to refund problems. To eliminate such issues and to maintain brand loyalty, leading supermarket and hypermarket chains are adopting these e-scooters for smooth operations in warehouses.
The United States is projected to exhibit a CAGR of around 1.3% through 2034. Increasing prevalence of mobility issues in the country is set to accelerate demand for these electric scooters.
The Centers for Disease Control and Prevention (CDC) states that in the United States, more than 1 in 4 adults have some type of disability, consisting of 28.7% of the population. About 12.2% have serious walking problems, whereas 13.9% have cognitive issues.
The aforementioned numbers are anticipated to surge through 2034, thereby boosting sales of the scooters. Also, rising demand for eco-friendly alternatives for traveling short distances is anticipated to fuel sales.
The section provides in-depth information about the leading segments in the market. It dissects the battery type and technology categories to give a clear picture to potential clients of the trends and drivers in each of these categories. It would enable them to invest in the right segment that is more profitable.
| Segment | Li-ion (Battery Type) |
|---|---|
| Value Share (2024) | 45% |
Lithium-ion or li-ion batteries are projected to hold a significant share of around 45% in 2024. Compared to lead-acid batteries, li-ion batteries provide higher energy density. This allows them to store more energy in a light and small package. It further makes it possible to reduce the weight of the vehicle.
Li-ion batteries can operate for several years at a stretch if they are maintained properly. These can reduce long-term costs as they do not require frequent replacements. Hence, individuals looking for eco-friendly alternatives are choosing these batteries.
Li-ion batteries also charge faster than lead-acid ones, thereby lowering the chances of interruptions during travel, especially for time-conscious riders. This is one of the most important factors augmenting their demand worldwide.
| Segment | Non-Folding E-Scooters (Product Type) |
|---|---|
| Value Share (2024) | 75% |
Non-folding three-wheel e-scooters are dominating the market due to several key factors. First, their design provides enhanced stability and balance, making them ideal for riders of all ages and skill levels. For instance, models like the Razorr EcoSmart Metro and the E-Wheels EW-36 are particularly popular among seniors who require a secure ride.
Second, these e-scooters often have larger weight capacities and storage options, catering to users who need to carry groceries or personal items. The E-Wheels EW-11, for example, is designed with a spacious rear storage compartment, appealing to commuters and recreational users alike.
Non-folding three-wheel e-scooters typically feature more powerful motors, resulting in better acceleration and climbing ability, which is advantageous in hilly urban environments. Finally, the increasing demand for eco-friendly transportation options drives interest in these scooters, as they offer a practical and sustainable alternative to traditional vehicles.
The global three-wheel e-scooter market is moderately consolidated with the presence of a few leading companies. They are mainly focusing on opening new manufacturing hubs in emerging nations like India and China owing to the high demand for affordable transportation solutions. They are also joining hands with local, small-scale manufacturers to exchange ideas and co-develop innovative, yet cost-effective scooters.
The industry is projected to witness the entry of a handful of start-ups in the next five years. These players are set to participate in trade shows, exhibitions, and fairs to showcase their novel products and concepts to attract a large customer base globally.
Industry Updates
By product type, the industry is segregated into folding e-scooters, and non-folding e-scooters.
Based on battery type, the market is segmented into lead acid battery, lithium-ion battery, nickel-metal hydride (MIMH) battery, and others.
up to 250w, 251w to 500w, 501w to 1000w, and above 1000w.
By sales channel, the industry is segregated into direct sales, and indirect sales (distributor/retailer and online).
Based on end use, the market is segmented into personal, rental, and law enforcement.
Key countries of North America, Latin America, Western Europe, South Asia, East Asia, and the Middle East and Africa were evaluated.
The market is set to reach USD 1,074 million in 2024.
It is anticipated to witness a 2.4% CAGR from 2024 to 2034.
These scooters are priced at around USD 1,898.78.
The latest Jaunty-PH series is currently trending in India.
Three-wheeled mobility scooters are considered safe, especially for those with limited mobility.
The scooters are compact and require less effort to make turns, which is convenient for senior citizens.
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