The global electric kick scooter market growth is projected to grow at a CAGR of 11.7% during the forecast period. The sales of electric kick scooters are anticipated to surpass US$ 2.7 Billion in 2023. The value of the electric kick scooter market is anticipated to reach a high of US$ 8.2 Billion by the year 2033.
The market for electric kick scooters is expected to experience significant growth in the future, driven by several factors including the increasing demand for eco-friendly transportation options, advancements in battery and motor technology, and the growing trend towards urbanization and micro-mobility.
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One of the main drivers of growth in the electric kick scooter market is the increasing demand for eco-friendly transportation options. As governments and consumers alike become more concerned about the impact of transportation on the environment, there is a growing demand for alternative modes of transportation that are more sustainable and efficient.
Another key factor driving growth in the electric kick scooter market is advancements in battery and motor technology. These advancements are leading to the development of more powerful and efficient electric kick scooters that can travel longer distances and reach higher speeds than previous generations of scooters. This, in turn, is making electric kick scooters a more attractive option for commuters and other urban travelers.
In addition, the growing trend towards urbanization and micro-mobility is also expected to drive growth in the electric kick scooter market. As more people move into urban areas, there is a growing need for efficient and convenient transportation options that can help alleviate traffic congestion and reduce emissions. Electric kick scooters, with their small size and maneuverability, are well-suited to this trend towards micro-mobility.
While customers in Latin America, the Middle East, Africa, and Asia Pacific regard electric kick scooters as a mode of short-distance transportation, consumers in North America and Europe see them as a lifestyle choice.
However, one of the issues likely to hinder the growth of the electric scooter-sharing industry is the demand for batteries with extended range, rapid charging, and long lifespan. Improvements in riding range can be made feasible by introducing advancements in battery technology, which is anticipated to raise the production cost of electric motors, providing a hurdle to their acceptance.
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Key Takeaways from the Electric Kick Scooter Market:
- During the forecast period, the U.S. is estimated to account for a significant share of the global electric kick scooter market. This is attributed to the high demand for electric kick scooters amongst American consumers which are engineered to be the most durable and powerful form of mobility.
- During the forecast period, the Asia Pacific electric kick scooter market is expected to have the highest share, led by China and Japan. This is owing to the regional players representing a culmination of continual product development and user experience and providing stylish, practical, and economical transportation. These scooters are therefore available in a range of body shapes, sizes, and colors to accommodate every rider.
- Owing to its ability to minimize pollution and transportation congestion, along with its portability, the “two-wheeled” product type is expected to hold the greatest revenue, through the forecast period.
- As it does not need to be serviced frequently and has a charging capability of up to 70W with a short charging time, the “lithium-ion” battery type, accounts for a significant share and is the most lucrative segment for key players.
Who is Winning?
Owing to the existence of both international and local players, the global electric Kick scooter market is fragmented. Many manufacturers hold a significant market share in their respective areas. Organic advances, such as product approvals and novel electric kick scooter services, are typically extensively embraced by large organizations. These factors are expected to increase the global electric kick scooter market size.
Key Players:
Micro Mobility Systems AG, Golabs Inc., Bird Rides Inc., Segway Inc., IconBIT Limited, GOVECS AG, Razor LLC, Xiaomi Corporation, YADEA Technology Group Co. Ltd., AKTIVO Scooter, VOI Technology, Spin, SWAGTRON, Niu International
Recent Developments:
- In June 2019, Bird Rides Inc. purchased Scoot to provide users with technologically upgraded cars and expand its service to additional cities.
- In February 2020, TIER Mobility, a German supplier of micro-mobility solutions, bought 5,000 electric mopeds and charging infrastructure from Coup Mobility to enter the European e-moped sharing market.
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Key Segments Profiled in the Electric Kick Scooter Market Survey
By Product Type:
- Two Wheeled
- Three Wheeled
By Battery Type:
- Lead-Based
- Nickel Based
- Lithium Ion
By Price Range:
- Below US$ 200
- US$ 200 – 375
- US$ 375.1 – 750
- US$ 750.1 – 1,100
- Above US$ 1,100
By Wheel Size:
- <8’’
- 8 – 8.5’’
- 9 – 9.5’’
- 10 – 10.5’’
- >11’’
By End Use:
- Personal
- Rental/ Sharing
- Law Enforcement
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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