Foldable Electric Scooter Market to Hit $900 Million by 2030
The foldable electric scooter market continues to grow, fueling a growing appetite for sustainable and efficient urban mobility.
The foldable electric scooter market continues to grow, fueling a growing appetite for sustainable and efficient urban mobility. With an estimated CAGR of 4.8% between 2022 and 2032, this micromobility solution is expected to reach a market value of $900 million by the end of 2030, from $600 million in 2022.
Fairfield Market Research’s latest report predicts the expected growth prospects for the flexible electric scooter market from 2023 to 2030.
“These wonders can be folded up and stored easily, making them great for travel, hiking, or just getting around town. Their electric batteries eliminate concerns about greenhouse gas emissions and pollutants, contributing to a greener footprint. In addition, with continued improvements in battery size and performance, these e-scooters are increasingly becoming a substitute for short car trips,” says the Fairfield researcher.
Another Fairfield analyst added: “Many factors drive market growth. Flexible and convenient transportation options are the need of the hour, and this flexible electric scooter meets these needs well, offering portability, versatility, and adaptability. Competition in this area is fast-paced, leading to constant design, technology, and feature advancements. Various lightweight, powerful, and even semi-autonomous models are emerging, meeting the needs and requirements of different users. However, challenges remain. Concerns about safety standards, infrastructure development, and riding behavior should be considered. In addition, the high price compared to modern bikes may deter some potential buyers. Despite these obstacles, the report suggests that the future of electric scooters is bright. As governments increase their investments in micromobility, infrastructure and technology continue to develop, these electric two-wheelers (E2Ws) are poised to become a major form of urban transportation in the coming years.
Key Takeaway
The foldable electric scooter is the most popular urban micromobility option today. With increasing government support, the development of relevant technologies and innovations has accelerated, ultimately culminating in the hyperscooter.
The Flash Motors Infinity X is the undisputed king of hyperscooters, with its maximum mileage of 70 miles and top speed of 75 mph.
