Thailand Electric Scooter Market Research Report: Forecast (2023-2028)

Market Definition

Electric scooters are a kind of personal vehicle that uses electricity to power an electric motor, which is frequently outfitted with a rechargeable battery. They typically have two or three wheels & a handlebar for steering and come in a variety of styles to meet the needs of various consumers. The manufacturers offer a wide range of models with varying battery ranges, speeds, and additional features such as suspension and LED lighting.

Market Insights & Analysis: Thailand Electric Scooter Market (2023-28)

The Thailand Electric Scooter Market size is valued at around USD 9.46 Million in 2024 is projected to grow at a CAGR of around 29% during the forecast period, i.e., 2023-28. Reduced import tariffs on battery electric vehicles (BEVs), availability of efficient charging infrastructure, and the increasing presence of ride-hailing service providers such as Scoots, among others, in the country widely contributed to the demand for electric two-wheelers in Thailand during the historical period.

Last-mile delivery services providers such as DHL & Food Panda, and others, who have increasingly adopted e-scooters for cost savings, have greatly contributed to the country's market growth of electric two-wheelers. In Thailand, e-commerce has grown rapidly in recent years, and the COVID-19 pandemic has accelerated this trend. The demand for last-mile delivery services to deliver packages to customers' homes or workplaces is intensifying as more people shop online.

Along with this, the Thai government has been investing in infrastructure development, such as transportation networks, which facilitates the growth of logistics & delivery services. This, in turn, is leading to the expansion of food delivery & ride-hailing service providers like BEAM, JustKitchen, and ShopeeFodd, among others in the country. Owing to this, the demand for this vehicle for last-mile delivery services is anticipated to surge during the forecast period.

Furthermore, in Thailand government is introducing initiatives to boost the availability of charging infrastructure in the country for electric motorcycles & scooters, with an intent to phase out ICE-based vehicles. One of the major concerns of potential electric vehicle buyers is range anxiety - the fear of running out of battery power before reaching a charging station. By expanding the number of charging stations in Thailand, the government can help alleviate this concern & encourage more people to make the switch to electric vehicles. This would support the expansion of the market during the forecast period.

Thailand Electric Scooter Market Driver:

Rising Environmental Concerns & Low Running Cost of Electric Scooter to Enhance its Adoption - Air Pollution is a major growing concern in Thailand, owing to which more consumers are looking for environmentally-friendly transportation options. Electric scooters offer a clean & green alternative to traditional gas-powered vehicles, driving demand for these vehicles in the country. In recent years, air pollution has worsened, with more than 200,000 people being admitted to hospitals due to respiratory ailments. These surging environmental concerns would further enhance the adoption of this vehicle during the forecast period in Thailand.

Moreover, the cost of charging an e-scooter is significantly lower than the cost of filling up a gas tank, due to which consumers can save money on fuel costs over the life of the scooter. Additionally, the availability of charging stations in Thailand is increasing, making it more convenient & cost-effective for consumers to use these scooters. In addition, the country’s state-run oil company PTT Oil has planned to establish the country’s largest electric vehicle (EV) charging network, with 7,000 outlets in 2030.

As more charging stations are installed, competition among charging providers is likely to enhance, leading to lower charging costs for consumers, further reducing the running cost of an electric vehicle. Owing to this, the adoption of this vehicle is expected to rise during the forecast period.

Thailand Electric Scooter Market Possible Restraint:

Semiconductor Shortage to Restraint the Market - The cost of semiconductors is growing, owing to the global shortage, hence leading to inflated costs for electric scooter companies. These raised costs could be passed on to consumers, making this vehicle less affordable& limiting their adoption. The conflict between Ukraine & Russia is primarily to blame for the shortage. Furthermore, the trade war between the United States & China is affecting the semiconductor industry, as some manufacturers are based in these countries and face trade restrictions. Due to the shortage, there may be fewer scooters available in Thailand as companies prioritize production for other markets or postpone the release of new models. This could restrict consumer options and slow market growth.

Thailand Electric Scooter Market Growth Opportunity:

Government Initiatives to Reduce Greenhouse Gas Emission to Open New Windows for Market Players - The government has set a goal of reducing greenhouse emissions by 40% by 2030. For this, the government launched the EV 30@30 initiative. This initiative aims to have electric vehicles (EVs) account for 30% of all domestic vehicle sales by 2030. The Thai government has assigned the National EV Policy Committee to develop & execute an EV Roadmap that prioritizes e-mobility as a key measure for achieving the country's Nationally Determined Contribution (NDC) & Long-term, Low-emission Development Strategy (LT-LEDS) goals. These government efforts to promote electric vehicles in Thailand, coupled with the growing demand for eco-friendly & efficient modes of transportation, create a favorable environment for electric scooter companies to expand their business in the country.

 Thailand Electric Scooter Market Key Trend:

Long Range Electric Scooters Waving New Tides - Long-range electric scooters enable riders to travel greater distances without needing to recharge, making them more practical for daily commutes & longer journeys. As a result, demand for these long-range scooters is growing. Owing to this, companies like Sleek EV, Etran, etc., have launched scooters with a higher range in the country. In Thailand, traffic congestion is a significant problem, especially in urban areas & scooters that offer longer ranges can provide a sustainable & convenient alternative for commuting without contributing to the problem of traffic congestion & air pollution.

Moreover, the long-range e-scooters can also help to address concerns about range anxiety among consumers which would further raise the demand for these scooters. This growing demand would make Thailand an attractive market for companies to launch more long-range of this vehicle during the forecast period.

Thailand Electric Scooter Market (2023-28): Segmentation Analysis

The Thailand Electric Scooter Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Battery:

• Lead Acid
• Lithium Ion
• Others (Lithium Ion Polymer, Nickel–metal hydride battery)

Among both, the scooters with lithium-ion batteries have showcased significant sales figures during the historical period due to various reasons like longer range, fast charging capability, and better performance. Lithium-ion batteries can store more energy in a smaller & lighter package than lead-acid batteries, allowing electric vehicles to travel long distances on a single charge. Along with this, lithium-ion batteries can deliver higher power output than lead-acid batteries, allowing electric vehicles to accelerate faster & handle hills & rough terrain more easily. These benefits have resulted in higher adoption of lithium-ion battery scooters by companies such as NIU, Ather, SYM motors, etc., for both commercial purposes & personal mobility.

Moreover, lithium-ion battery technology has been improving rapidly, leading to longer battery life, faster charging times, and higher energy density. These advancements are expected to make this vehicle more practical & convenient for everyday use. These factors are expected to contribute to the growing demand for lithium-ion battery-powered electric scooters in Thailand during the forecast period.

Based on Application:

• Personal Use
• Commercial Use

The Commercial sector is a major customer for electric scooters in Thailand, with many companies using them for short-distance deliveries & transportation. This has led to a significant boost in the sales volume of this vehicle in the country. In Thailand, restaurant chains like The Pizza Company, Pizza Hut, etc., have substantially adopted electrical scooters as they are more cost effective than traditional delivery vehicles. As a result, many companies, like Etran, have introduced specially designed e-scooters for delivery purposes. Moreover, many delivery services & restaurant chains are now introducing sustainability goals to reduce their carbon footprints. This would promote the use of e-mobility by these establishments, which would enhance the market growth during the forecast period.

Gain a Competitive Edge with Our Thailand Electric Scooter Market Report

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