The European electric scooter market is expected to grow at a CAGR of 43.1% from 2021–2028 to reach $210.63 billion by 2028. By volume, this market is expected to grow at a CAGR of 19.7% from 2021–2028 to reach 25.69 million units by 2028 (Meticulous Research).
A recent post from UK distributor Modus Brands anticipates a year of growth in the UK market for e-scooter brands, citing a changing consumer mindset to the environment and commuter benefits in larger cities such as London. Modus carries a number of mobility brands such as Xiaomi, Unagi and Inmotion, and supplies mobility retailers such as Halfords and Chain Reaction Cycles.
E-scooter rental schemes are also growing in popularity. According to Which EV Magazine, the Ford backed micro mobility brand Spin has clocked up 1 million rides across 4 UK cities in a matter of months since the trial rental scheme launched late last year.
Transportation robotics company Superpedestrian is also trialling a smart e-scooter scheme in Nottingham which if successful will be rolled out to the US and Europe. The e-scooter has both safety and pedestrians in mind as the scooter will automatically slow down (or stop) if it detects the user riding on the pavement. There are currently 50 e-scooter trials running across the UK.
In France, the government has created a new category for the light electric moped and scooter that can be used without a licence at speeds up to 25 km/h (15.5 mph). Citizens aged 12+ with the appropriate insurance can own or rent an electric vehicle. French supercar brand Bugatti launched their first e-scooter at last month’s CES show. The scooter was made in collaboration with Bytech International and is anticipated to hit the market later this year. With the new legislation in mind, the scooter has three speed settings (Economy (9mph), City (12.5mph) and Sport (18.5mph).
Opportunities for premium and entry level e-bikes
According to findings from the annual GfK E-bike Monitor 2021, there are a growing number of consumers prepared to pay more for premium bikes. The average retail price for e-bikes increased between 4% and 12.5% last year in Germany, the Netherlands and Belgium. Conversely, the GfK also reports that in Germany and the Netherlands, there is also some appetite for cheaper e-bikes.
E-bikes with a price up to €1,500 cover more than 35% of all purchases. In the Netherlands, the average price increased by only 4% in 2021 year-on-year. The annual GfK E-bike Monitor shows that the average price paid by Belgian consumers for an e-bike in 2021 increased by no less than 8% compared to 2020. In Belgium the market share of e-bikes between €2,500 and €4,000 increased by 11%.