The electric kick scooter market is anticipated to grow from USD 2,700.9 million in 2023 to USD 8,021.5 million by 2033, reflecting a compound annual growth rate (CAGR) of 11.5% over the forecast period.
This growth is primarily driven by the increasing demand for eco-friendly transportation solutions, spurred by environmental concerns and the push for sustainable mobility options. Supportive government policies and initiatives that promote electric kick scooters as a viable alternative for last-mile transportation have further accelerated market expansion.
Despite this rapid growth, the electric kick scooter industry faces several challenges. Key issues include the need for improved infrastructure, such as more charging stations and designated parking areas. Regulatory hurdles and safety concerns regarding the integration of electric kick scooters into existing transportation systems also pose obstacles to broader adoption. Additionally, limitations in battery life and range can deter potential consumers, highlighting the need for ongoing advancements in battery technology.
Notable trends in the industry include the integration of advanced GPS technology and smartphone connectivity in electric kick scooters, enhancing user experience with real-time navigation and ride management data. Additionally, the development of lightweight and foldable electric kick scooter models addresses the demand for versatile and portable transportation solutions.
Key Takeaways from the Electric Kick Scooter Market Report:
- The electric kick scooter industry is primarily led by the popular two-wheeled variant, commanding a significant share of 67.40% in 2023.
- The electric kick scooter industry has seen a notable surge in the adoption of lithium-ion batteries, which held a significant market share of 71.88% in 2023.
- The United States electric kick scooter industry is likely to expand at a CAGR of 11.20% from 2023 to 2033.
- Canada’s electric kick scooter industry is anticipated to witness a CAGR of 10.50% from 2023 to 2033.
- Germany’s electric kick scooter industry is expected to rise at a CAGR of 10.80% from 2023 to 2033.
- Italy’s electric kick scooter sector is projected to expand at a CAGR of 9.50% from 2023 to 2033.
- France’s electric kick scooter market is anticipated to expand at a CAGR of 11.00% from 2023 to 2033.
Competitive Landscape:
The electric kick scooter industry is highly competitive, with several leading players vying for market share. The companies in the industry also operate in a variety of markets around the world. The competition in the electric kick scooter industry is constantly evolving as new companies enter the market and existing companies expand their operations.
- Manufacturers constantly develop new electric kick scooter products with improved features and performance. For example, some companies are developing electric kick scooters with longer battery life, faster speeds, and more durable construction.
- Companies are expanding their operations into new markets around the world. For example, many leading electric kick scooter companies are now operating in Europe, Asia, and Latin America.
- Businesses are partnering and acquiring each other to expand their product offerings and geographic reach. For example, in 2021, Ford Motor Company acquired Spin, a leading electric kick scooter company.
The electric kick scooter industry is expected to remain highly competitive in the coming years. Companies will need to continue to innovate and expand their operations to succeed in this market.
Leading 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 the Electric Kick Scooter Market:
- VOI Technology has launched a new fleet of electric kick scooters with built-in GPS tracking and navigation systems.
- Spin has launched a new line of electric kick scooters with self-balancing capabilities and improved safety features.
- SWAGTRON has launched a new line of electric kick scooters with foldable designs at affordable prices.
- Niu International has launched a new range of electric scooters with high-performance motors and long battery life. Niu International has expanded its operations into new markets in Europe and North America.
Electric Kick Scooter Market Segmentation:
By Product Type:
- Two Wheeled
- Three Wheeled
By Battery Type:
- Lead-based
- Nickel Based
- Lithium Ion
By Price Range:
- Below USD 200
- USD 200 to 375
- USD 375.1 to 750
- USD 750.1 to 1,100
- Above USD 1,100
By Wheel Size:
- Less than 8 Inch
- 8 to 8.5 Inch
- 9 to 9.5 Inch
- 10 to 10.5 Inch
- Greater than 11
By End Use:
- Personal
- Rental/ Sharing
- Law Enforcement
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
Access More Detailed Information:
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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