Latin America Electric Scooter Market

Latin America Electric Scooter Market Size and Share: 

The Latin America electric scooter market size reached USD 2.45 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 5.59 Billion by 2033, exhibiting a growth rate (CAGR) of 9.60% during 2025-2033. The market is propelled by the increasing urbanization and traffic congestion in cities, growing consumer interest in eco-friendly transportation options, government incentives and subsidies for electric vehicle adoption, and advancements in battery technology. 

Latin America Electric Scooter Market Trends:

Increasing Urbanization and Traffic Congestion

Booming urbanization in Latin America is one of the key reasons for the growth of the electric scooter market. With heightening population moving into urban centers, cities are rapidly filling up. The influx of citizens results in increased traffic jams, longer travel times, and poor air quality. Consequently, most city residents are looking for alternative modes of transport to ride through the complexities of urban living. Electric scooters provide a quick and convenient means of transportation for short to middle distances, enabling individuals to avoid traffic and lower their dependency on vehicles. Their small size also makes electric scooters easily adapted to riding in narrow streets and dense urban settings. Additionally, they are simpler to park compared to conventional vehicles, solving the problem of limited space to park in most cities. Further, the market for electric scooters is boosting as customers look for convenient means of improving their mobility without the inconvenience of city commuting.

Growing Environmental Awareness

Increasing consumer knowledge concerning environmental sustainability plays a crucial role in influencing the Latin America electric scooter market. As global concern for climate change and air quality intensifies, consumers are shifting their priorities to green transportation alternatives. Electric scooters emit nothing, making them a viable competitor to gas-run vehicles. This resonates well with the cause of environmentally oriented consumers who would like to have a lower carbon footprint. As a result of these shifts in consumer habits, governments all over Latin America are putting policies into place that encourage people to use electric vehicles, including scooters. For instance, in Jan 2024, Gogoro and Copec entered into a collaboration to debut a two-wheel battery-swapping ecosystem in Chile and Colombia by Q2 2024 to serve consumers and B2B delivery riders with clean mobility. Moreover, subsidies, tax breaks, and investments in charging stations are all on the table as incentives for consumers to move toward electric mobility. Public awareness programs also bring out the advantages of electric scooter use for the individual user and society, including cleaner air and less traffic congestion. As concerns regarding environmental problems keep on rising, the market for electric scooters is progressively stimulating.

Advancements in Technology and Infrastructure

Technology advancement is playing an important role in developing the market of electric scooters in Latin America. Development in battery technology has enhanced the efficiency and the travel distance of electric scooters, thereby enhancing the attractiveness to buyers. It is now possible for users to cover longer distances in a single charging with current electric scooters. This immensely addresses some of the key consumer ranges anxiety worries. Apart from this, the establishment of supportive infrastructure is promoting the usage of electric scooters. Urban areas in the world are spending money on dedicated bike lanes and scooter sharing schemes, thus providing safe and convenient places for users. Increasing charging facilities are also supporting the usage of electric scooters because it always provides users with power. Apart from this, new business models like scooter-sharing services are also gaining popularity in urban areas. These websites allow users to rent electric scooters on-demand. This is making electric scooters accessible to people who wish to experience the option but might not be able to afford a scooter. This model makes electric scooters more accessible to more individuals and integrates them into the urban transport system, making industry growth possible.

Latin America Electric Scooter Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on drive type, end use, and battery type.

Drive Type Insights:

• Belt Drive
• Chain
• Hub Motors

The report has provided a detailed breakup and analysis of the market based on the drive type. This includes belt drive, chain, and hub motors.

End Use Insights:

• Personal
• Commercial

A detailed breakup and analysis of the market based on the end se have also been provided in the report. This includes personal, and commercial.

Battery Type Insights:

• Lead-acid Battery
• Lithium-ion Battery
• Others

The report has provided a detailed breakup and analysis of the market based on the battery type. This includes lead-acid battery, lithium-ion battery, and others.

Regional Insights:

• Brazil
• Mexico
• Argentina
• Colombia
• Chile
• Peru
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Latin America Electric Scooter Market News:

• 31 January 2024: Gogoro Inc., a world-leading battery-swapping systems company, has entered into a partnership with major Latin American energy company Copec to bring in its battery-swapping Smart scooters in Columbia and Chile. The firms are also co-operating to develop the first battery-swapping station network in Latin America, which will be rolled out at different Copec service stations in Latin America.
• 6 September 2023: World-famous Indian motorbike company TVS is spreading its wings to Latin America with the launch of the TVS X electric scooter in Columbia. TVS X will be marketed through Auteco, one of the country's top motorcycle distributors.

Latin America Electric Scooter Market Report Coverage:

Key Questions Answered in This Report:

• How has the Latin America electric scooter market performed so far and how will it perform in the coming years?
• What is the breakup of the Latin America electric scooter market on the basis of drive type?
• What is the breakup of the Latin America electric scooter market on the basis of end use?
• What is the breakup of the Latin America electric scooter market on the basis of battery type?
• What is the breakup of the Latin America electric scooter market on the basis of region?
• What are the various stages in the value chain of the Latin America electric scooter market? 
• What are the key driving factors and challenges in the Latin America electric scooter?
• What is the structure of the Latin America electric scooter market and who are the key players?
• What is the degree of competition in the Latin America electric scooter market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Latin America electric scooter market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Latin America electric scooter market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Latin America electric scooter industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.