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Scooter Sharing Market to Generate Revenue Worth $553 Million by 2025

Published Date:   December 2019

Valued at $99.8 million in 2018, the global scooter sharing market is projected to generate revenue of $553.0 million by 2025, growing at a CAGR of 24.4% during 2019–2025. Based on trip, the one-way category dominated the market in 2018. Whereas, the round category is expected to attain faster growth during the forecast period.

Increasing Investment is a Key Trend in Scooter Sharing Market

Increasing investment is a key trend being observed in the scooter sharing market. The industry is receiving investments of substantial amounts from top investors in the world. For instance, in 2018, Cityscoot, one of the leading scooter sharing service providers in Europe, received an investment of $50 million (EUR 42.4 million) from a group of investors led by Inventure Partners and RATP Capital Innovation. In the same year, Barcelona-based electric scooter sharing company, Yugo, raised a funding of $475 thousand (EUR 402 thousand). Moreover, in 2017, Gogoro, a Taiwan-based electric scooter manufacturing company, raised a funding of $300 million to invest in its scooter sharing service, GoShare.

Increasing Road Congestion in Urban Areas is Driving Market Growth

Rising population in major cities across the world has led to an increased number of daily commuters, thereby creating significant road congestion, especially in peak hours. To minimize this problem, countries are looking for new alternatives. This scenario acts as a major driver for the scooter sharing market, globally. Governments and scooter sharing service providers encourage daily travelers to use scooter sharing services. This helps in reducing traffic congestion on roads, since scooters are compact in size and require less space on the roads and parking spaces.

Segmentation Analysis of Scooter Sharing Market

Scooter Sharing Market

One-way trip generated larger revenue in the scooter sharing market in 2018. Furthermore, the category is projected to continue dominating the market during the forecast period as well. Optimizers or convenient users majorly avail scooter sharing services to have a quick ride to nearby destinations, so as to optimize their expenses and travel time. Customers are gradually using these services for first- and last-mile connectivity. In addition, these services are used as multimodal transit systems, which are availed to reach a point of availing of another transportation service. Such factors are boosting the growth of the market in this category.

Geographical Analysis of Scooter Sharing Market

Among all regions, Europe generated the largest revenue in the scooter sharing market in 2018. Increasing urban road congestion and emission of greenhouse gases are major concerns in several European countries. Rising population in major cities in the region leads to an increased number of daily commuters, creating significant road congestion, especially in peak hours. Countries in the region are introducing new alternatives for transportation, such as scooter sharing, so as to combat these problems. Spain, France, and Germany were the major countries in the region with significant number of scooters available for sharing services.

However, during the forecast period, APAC is estimated to register the fastest growth rate, owing to increasing deployment of scooter sharing vehicles in India and Taiwan. In 2019, India became the largest scooter sharing fleet operator across the world. By the end of 2019, the country holds in between 15,000–20,000 scooters in their sharing fleet. This was due to the large investments in two major players, Vogo and Bounce. The two companies entered the market more recently, having scaled most of its fleet in 2019. Both countries have an estimated 7,000 sharing scooters each.

Competitive Landscape of Scooter Sharing Market

The scooter sharing market is at its growing phase, with the presence of major players, such as Cityscoot SAS (Cityscoot), COUP Mobility GmbH (COUP), Cooltra Motosharing S.L.U. (eCooltra), and Weimo Technology Co. Ltd. (WeMo).

In recent years, the key players in the global scooter sharing market have taken several strategic measures, such as partnerships, service launches, and investments, to gain a competitive edge in the industry. For instance, in September 2019, MiMoto, in collaboration with IrenGo, launched its scooter sharing services in Genoa, Italy. Furthermore, in the same year, WeMo Scooter launched its scooter sharing service in Taiwan with a fleet of 200 scooters.

Browse report overview with detailed TOC on "Scooter Sharing Market Research Report: By Trip (One-way, Round), Geographical Outlook (U.S., Canada, Italy, Germany, Netherlands, Spain, France, Austria, Portugal, Poland, Belgium, Switzerland, China, India, Taiwan,Mexico, Brazil) - Global Industry Opportunity Analysis and Growth Forecast to 2025" at:https://www.psmarketresearch.com/market-analysis/scooter-sharing-market

Some other significant players operating in the scooter sharing market include Electric Mobility Concepts GmbH (emmy), Sharing Muving S.L.U. (Muving), Felyx Sharing B.V., YUGO Urban Mobility SL (YEGO), Econduce SAPI de CV, MiMoto Smart Mobility Srl, Scoot Rides Inc. (Scoot), Wicked Ride Adventure Services Pvt. Ltd. (Bounce), Vogo Automotive Pvt. Ltd. (Vogo), and Green Electricity Sp. z o.o. (blinkee.city).

Scooter Sharing Market Segmentation

Market Segmentation by Trip

  • One-way
  • Round

Market Segmentation by Region

  • North America - U.S. and Canada
  • Europe - Italy, Germany, Netherlands, Spain, France, Austria, Portugal, Poland, Belgium, Switzerland, and Rest of Europe
  • APAC - China, India, Taiwan, and Rest of APAC
  • LAMEA - Mexico, Brazil, and Rest of LAMEA