The global used e-scooter market size is anticipated to reach USD 714.8 million in 2024. It is set to attain a value of around USD 979.5 million by 2034. The market is estimated to witness a moderate CAGR of about 3.2% in the forecast period from 2024 to 2034.
The field of used or second-hand electric scooters is projected to rise at a fast pace worldwide. An increasing number of leasing agencies, private parties, franchises, rental bike businesses, and auction activities are set to augment sales. Millennials nowadays are choosing to shift away from purchasing new bikes due to high maintenance costs. Hence, the demand for used e-scooters is rising at a steady pace across the globe.
| Attributes | Description |
|---|---|
| Estimated Global Used E-scooter Market Size (2024E) | USD 714.8 million |
| Projected Global Used E-scooter Market Value (2034F) | USD 979.5 million |
| Value-based CAGR (2024 to 2034) | 3.2% |
Several e-commerce platforms are emerging in both developed and developing countries. They are focusing on the digital transformation aspect to break down geographical barriers and reach out to potential customers in niche areas that would be otherwise challenging to access with conventional methods.
Hence, preloved bike sellers are launching their own websites and smartphone apps to surge sales through online channels. These initiatives are projected to boost online sales, thereby augmenting the market.
In March 2023, for instance, CredR, a start-up based in Pune, India, created an online marketplace that specializes in selling and purchasing used two-wheelers in the country. The company’s unique price application offers customers a transparent and instant price estimate. It shows the exchange value of their used petroleum-based two-wheelers for electric scooters or bikes.
Countries like Germany and France in Europe are projected to witness the most prominent sales growth. This is attributed to the rising percentage of international visitors in these countries.
Bike taxis and electric scooter-sharing services are gaining momentum among tourists across Europe. Several used vehicle sellers are also witnessing a surging demand for premium used scooters, which is projected to drive demand.
In emerging economies, government bodies are introducing new norms like lower tax rates on used e-scooters compared to new ones. These initiatives are estimated to enable customers to purchase used scooters at a relatively low cost, thereby accelerating sales.
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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 surge at a CAGR of 3%, followed by a slightly higher growth rate of 3.2% in the second half (H2) of 2023 to 2033.
| Particulars | Value CAGR |
|---|---|
| H1 | 3% (2023 to 2033) |
| H2 | 3.2% (2023 to 2033) |
| H1 | 3.1% (2024 to 2034) |
| H2 | 3.3% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2024, the CAGR is projected to slightly decrease to 3.1% in the first half and it will likely increase to 3.3% in the second half.
Emergence of Several Ridesharing Start-ups to Create Novel Opportunities
In urban areas, individuals are more likely to shift toward e-scooters owing to their lightweight and easy-to-use nature. Also, the need to save costs on transportation, especially among daily commuters, is anticipated to boost demand. Established as well as emerging companies are projected to capitalize on these trends by launching e-scooter rental apps.
With surging issues of climate change, individuals have become increasingly aware of problems like greenhouse gas emissions, which are mainly induced by transportation. As e-scooters are environmentally friendly, they are set to be the ideal choice for eco-conscious consumers.
Government bodies are also introducing stringent norms associated with the discarding of petrol and diesel-powered vehicles. Hence, several companies are investing in e-scooters to prevent the emission of toxic gases. At the same time, companies launching e-scooter-sharing apps are gaining impetus as investors are showcasing an increased interest in their platforms.
Tier, for instance, recently raised around USD 250 million from a single round, whereas Bird bagged USD 415 million right after its debut. Hence, new ridesharing start-ups are projected to purchase used electric scooters from key players and modify them as per their needs.
Lack of Standardization, Maintenance Knowledge, and Financial Plans Hamper Demand
Modern consumers are often hesitant to purchase used scooters as they are mainly concerned about their history and condition. Several companies are taking initiatives, such as offering vehicle certification and inspection services to help prevent the issues of lack of trust.
The market’s lack of standardization and unorganized nature are projected to make it inconvenient for customers to find trustworthy vehicles and sellers. Financing can be another issue as there are only a handful of financial plans available, which can be expensive for middle-class customers as well as for those with low credit scores. Hence, more cost-effective financial plans are needed to enhance accessibility.
Though there are various customers seeking used electric scooters, some lack the resources and knowledge required to maintain these vehicles. It can further result in declining vehicle value and condition over the years. This problem is likely to encourage resellers to provide assistance and education related to vehicle maintenance.
Principal Consultant
The global used e-scooter market size stood at USD 628 million in 2019 and attained a value of around USD 692.7 million in 2023. It witnessed a CAGR of 2% in the historical period ranging from 2024 to 2034. Growth in the historical period was lesser than that of the forecast period, with the latter estimated to showcase a 3.2% CAGR through 2034.
Growth in the historical period was mainly driven by rising demand for personal mobility solutions amid the COVID-19 pandemic to prevent contact with other individuals. Millennials traveling long distances also preferred e-scooters due to their ability to offer more mileage and large engines compared to conventional vehicles. Also, demand for gearless electric scooters surged among the female population owing to their ease of use.
The emergence of several online platforms for selling and buying used vehicles, including electric scooters, further surged demand in the historical period. A few platforms also allowed customers to make high-value transactions online using net banking as well as debit or credit cards.
With the advent of online platforms like Bikes24, Quikr, OLX, and Droom in India, other countries also invested in changing the way in which preloved electric scooters were being sold. Gradually, these platforms launched subscription plans, advertisements, and similar value-added services to attract more customers.
Tier 1 companies are focusing on expanding their production capacity and extending their portfolios to increase sales by attracting a large consumer base. A few Tier 1 companies are Bird, Lime, Spin, and Segway-Ninebot. These companies are also aiming to utilize innovative technologies to provide superior products to consumers worldwide.
Even though Tier 2 companies possess limited resources, they are considered a significant part of the supply chain. These companies usually have business relations with at least a few OEMs in the market. They have relatively fewer workforce resources compared to Tier 1. A handful of Tier 2 players are Voi, Bolt, Tier, and Wind Mobility.
Tier 3 mainly contains small-scale companies with limited finances and raw materials. These players primarily cater to the local demand by setting up manufacturing hubs in specific areas. Scoot, Skip, Revel, and Swiftmile are a few Tier 3 players. These players are also at a high risk of losing revenues if Tier 1 companies fall in terms of supply chain.
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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 4.8%, followed by China at 3.6% from 2024 to 2034. Italy, the United States, and the United Kingdom are likely to remain closely behind with CAGRs of 2.1%, 1.8%, and 1.2%, respectively.
| Countries | CAGR 2024 to 2034 |
|---|---|
| United States | 1.8% |
| India | 4.8% |
| United Kingdom | 1.2% |
| China | 3.6% |
| Italy | 2.1% |
In India, most of the population belonging to the middle class is inclined toward using electric scooters as the cost of new vehicles is rising day by day. The easy availability of several financing options has also made it convenient to purchase used scooters.
With ongoing innovations in technology, the field of used electric scooters has flourished in the country. Launch of vehicle inspection tools and online platforms is estimated to push modern consumers toward a transparent purchasing and selling process.
Ola Electric Mobility Pvt Ltd, for instance, acquired Etergo BV, based in Amsterdam in May 2020. The former plans to produce its premium electric two-wheelers by opening a new factory in India. With such initiatives by leading players, demand for used scooters is anticipated to rise steadily in the country.
China’s government is focusing on supporting the vehicle electrification project to reduce pollution. It is hence providing tax rebates and subsidies to consumers looking to purchase EVs and electric scooters. The country’s government is also planning to invest huge sums in the development of robust charging infrastructure to provide a hassle-free experience.
Since the COVID-19 pandemic, consumers in China have been showcasing a high demand for personal mobility solutions. It has further boosted sales of used e-scooters among the middle-class population. As per the Oxford Institute of Energy Studies, around 3.5 million EVs were sold in China back in 2021.
Over 325 million electric motorcycles and two-wheel scooters were on the country’s road in the same year. Hence, used electric scooters are set to be omnipresent in the country during the estimated period.
The United States is projected to showcase a CAGR of around 1.8% in the forecast period. Used electric scooters are gaining traction in the country backed by their high simplicity, fuel economy, and nimbleness for use in crowded areas. Powerful engines, stylish designs, high performance, and smoothness are a few other benefits that modern consumers are looking for in their e-scooters.
With rising concerns about the environment, millennials in the United States are inclined toward recycling and reuse principles. As per the United States Environmental Protection Agency (EPA), in 2022, total emissions were 6,343.2 million metric tons of carbon dioxide equivalent.
The most prominent source of greenhouse gas in the country is transportation. Around 94% of the fuel used in vehicles is petroleum-based, consisting of diesel and gasoline. Indirect and direct emissions from transportation were around 29% in 2022. Hence, to curb emissions in the country, millennials are adopting used vehicles, including preloved e-scooters.
The section below provides information about the two leading segments in the used e-scooter market. This information would enable potential clients to make wise business decisions for investment purposes.
As per type, the two-wheel segment is projected to hold a considerable share of around 70% in 2024. In terms of battery type, the lithium-ion battery segment is anticipated to hold about 65% of the share in the same year.
| Segment | Two Wheel (Type) |
|---|---|
| Value Share (2024) | 70% |
The demand for used electric two-wheelers is anticipated to rise, especially in developing countries like India and China. These countries have a deep-rooted culture of two-wheelers. Government organizations are also focusing on promoting low-emission vehicles like two-wheeled e-scooters to encourage the shift toward sustainable transportation.
The adoption rate of used electric scooters in the aforementioned countries is set to offer a fascinating paradox. These are also being considered cost-effective since these bagged Total Cost of Ownership (TCO) parity along with their traditional counterparts. The presence of several OEMs, including start-ups and legacy brands in emerging countries is anticipated to augment demand.
As per the Society of Manufacturers of Electric Vehicles, in FY 23 to 24, Ola Electric sold around 326443 units of e-scooters in India. TVS, Ather, Bajaj, and Ampere followed closely behind with 182959, 108872, 106990, and 55057 units. These numbers are projected to rise steadily in the forecast period, thereby creating new opportunities.
| Segment | Lithium-ion Battery (Battery Type) |
|---|---|
| Value Share (2024) | 65% |
Used e-scooters operating on lithium-ion batteries are anticipated to gain traction worldwide. The segment is projected to hold a considerable share of 65% in 2024. The cost of these batteries is set to decrease in the estimated period, which is likely to decline the total cost of used e-scooters.
Increasing demand for lightweight, high charge density, and superior charging-discharging efficiency is anticipated to fuel demand for lithium-ion batteries. Demand is also set to rise with the growing requirement for reliable energy storage solutions and surging environmental concerns in the transportation sector. These trends are estimated to fuel the demand for lithium-ion batteries as consumers and companies alike seek a clean future for transportation.
The global used e-scooter market is moderately consolidated with the presence of a few companies. These players are focusing on purchasing abandoned scooters at a relatively low cost from leading electric scooter manufacturers in bulk. They are then dismantling the scooter’s components like batteries and frames to replace these with cost-effective parts for reselling purposes.
A handful of companies engaged in e-bike or e-scooter ride-sharing businesses are planning to recycle and reuse the components of their scooters for further usage. With such initiatives, they are striving to lower their overall carbon footprint and reduce pollution levels. These companies are primarily active across developed countries like the United States, Germany, the United Kingdom, and Japan.
Industry Updates
In terms of product types, the market is segmented into two-wheel, and three-wheel.
Lithium-Ion Battery (Lithium-Ion Battery (Up to 250 Watts, 250 to 450 Watts, 450 to 700 Watts, Above 700 Watts), Lead Acid Batteries Battery (Up to 250 Watts, 250 to 450 Watts, 450 to 700 Watts, Above 700 Watts), Nickel Metal Hydride Batteries (Up to 250 Watts, 250 to 450 Watts, 450 to 700 Watts, Above 700 Watts) are the Battery Type.
In terms of sales channel, the market is segmented into Retail (Authorized Dealerships, Local Dealerships), and Online Platform.
Information about key countries of North America, Latin America, Western Europe, South Asia and Pacific, East Asia, and the Middle East and Africa is provided.
The demand is set to rise at a CAGR of 3.2% from 2024 to 2034.
The market is anticipated to reach USD 979.5 million by 2034.
Yes, purchasing a used electric scooter can be cost-effective.
E-scooters have a very low resale value, which may create difficulties in finding buyers.
An electric scooter’s lifespan ranges between three and five years.
Yes, these scooters require regular servicing for smooth functioning.
Yes, the process of replacing batteries is quite straightforward.
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