Latin America Electric Scooters Market Size & Outlook
Latin America electric scooters market, 2018-2030 (US$M)
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Latin America electric scooters market highlights
- The Latin America electric scooters market generated a revenue of USD 881.0 million in 2022.
- The market is expected to grow at a CAGR of 7.2% from 2023 to 2030.
- In terms of segment, hub motors was the largest revenue generating drive type in 2022.
- Belt Drive is the most lucrative drive type segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 881.0 million |
| Market revenue in 2030 | USD 1,542.0 million |
| Growth rate | 7.2% (CAGR from 2022 to 2030) |
| Largest segment | Hub motors |
| Fastest growing segment | Belt Drive |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Belt Drive, Chain, Hub Motors |
| Key market players worldwide | Bayerische Motoren Werke AG ADR, Alpha Architect 1-3 Month Box ETF, Gogoro Inc, GreenPower Motor Company Inc, Honda Motor Co Ltd ADR, PIERER Mobility AG, Mahindra & Mahindra Ltd DR |
Other key industry trends
- In terms of revenue, Latin America region accounted for 2.7% of the global electric scooters market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 61,381.1 million by 2030.
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Electric Scooters Market Scope
Electric Scooters Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America electric scooters market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to electric scooters market will help companies and investors design strategic landscapes.
Hub motors was the largest segment with a revenue share of 80.54% in 2022. Horizon Databook has segmented the Latin America electric scooters market based on belt drive, chain, hub motors covering the revenue growth of each sub-segment from 2018 to 2030.
Concerns regarding the availability of the charging infrastructure, reliability of electric grids, and the limited range that these vehicles can travel, have contributed to the low penetration and acceptance of electric scooters in the Latin American region.
Countries such as Brazil, Colombia, and Mexico have introduced measures to promote these vehicles and have implemented policies for stronger fuel economy standards to invest in the electric vehicle technology Companies are expanding their presence in the Latin American market. For instance, in October 2018, Grin, a Mexico based electric scooter company merged with Ride, an on-demand transportation company to enter into the Brazilian market.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America electric scooters market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America electric scooters market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America electric scooters market size, by country, 2018-2030 (US$M)
Latin America Electric Scooters Market Outlook Share, 2022 & 2030 (US$M)
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