Electric Kick Scooters Market Worth $5.2 Billion By 2028 | CAGR: 10.3%
Electric Kick Scooters Industry Overview
The global electric kick scooters market size was valued at USD 2.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2021 to 2028. Kick scooters have emerged as a cost-effective urban commute option in recent times. This is attributed to the sleek design and the ease of use they offer. Rapid developments in the electric scooter sharing industry are also expected to generate growth opportunities for the kick scooters market over the forecast period.
Countries such as France, Spain, Germany, and the U.S. have recorded a significant rise in the adoption of kick scooters over the last couple of years, a trend expected to continue over the next few years. Additionally, electric scooter sharing start-ups are collaborating with top manufacturers in the market to expand their customer base and enhance their product offerings in the market. Low-cost transportation, lesser parking space requirement, growing focus on environment-friendly transportation options, and the ease of use in traffic-congested cities, are expected to favor the demand for electric scooter sharing services across the world.
Gather more insights about the market drivers, restraints and growth of the Global Electric Kick Scooters market
The COVID-19 pandemic has negatively impacted the overall micro-mobility industry in 2020. Several electric scooter startups, such as Bird and Lime, have laid off employees due to stagnant demand. Nevertheless, these are short-term consequences of the pandemic and the micro-mobility industry is expected to revive in the near future. Moreover, the market is expected to benefit from the rising demand for more environment-friendly and hassle-free transportation options, due to an uptick in demand post-COVID-19, and favorable government policies.
Growing carbon emissions due to fuel-based vehicles have been a key concern for government authorities worldwide. Electric kick scooters are a viable, eco-friendly option for short-distance commutes, creating promising growth avenues over the forecast period. Moreover, as regulatory authorities focus on smart city development, electric transportation options like e-scooters are expected to become increasingly popular, albeit at a slower pace than passenger vehicles/buses. In addition to environmental benefits, these scooters are ultra-quiet, making them an ideal choice for cities seeking solutions to the rising issue of noise pollution. Since electric kick scooters run on batteries, they do not directly contribute to any carbon or greenhouse gas emissions.
The market presents different requirements to manufacturers based on how electric kick scooters are perceived by consumers across the globe. While consumers from Latin America, Middle East and Africa, and the Asia Pacific see electric kick scooters as a means for short-distance transportation, consumers from North America and Europe tend to consider the use of electric kick scooters more as a lifestyle. Vendors focus on benefits such as durability, maintenance cost, and performance to retain customers. Therefore, vendors focus on launching technologically-advanced vehicles taking into consideration design/style and range and speed specifications. For instance, in April 2020, Xiaomi launched the Mi Electric Scooter 1S and made it available across China's e-commerce platforms with international shipping options. The scooter has a range of 30 km on a full charge with a maximum speed of 25km/h.
Browse through Grand View Research's Technology Industry Related Reports
Lithium-ion Battery Market - The global lithium-ion battery market size was valued at USD 41.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.1% from 2022 to 2030.
Electric Scooters Market - The global electric scooters market size was estimated at USD 20.78 billion in 2021, and the market is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2022 to 2030.
Electric Kick Scooters Industry Segmentation
Grand View Research has segmented the global electric kick scooters market on the basis of battery, voltage, and region:
Electric Kick Scooters Battery Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
- Sealed Lead Acid (SLA)
- Nickel Metal Hydride (NiMH)
- Lithium-Ion (Li-Ion)
Electric Kick Scooters Voltage Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
- Below 24V
- 36V
- 48V
- Greater than 48V
Electric Kick Scooters Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights
February 2020: TIER Mobility, a German-based micro-mobility solution provider, acquired a fleet of 5,000 electric mopeds and the charging infrastructure from Coup Mobility to enter the European e-moped sharing market.
June 2019: Bird Rides, Inc. acquired Scoot to offer riders technologically-advanced vehicles and offer its service in other cities.
Key Companies profiled:
Some prominent players in the global Electric Kick Scooters Industry include
- Jiangsu Xinri E-Vehicle Co. Ltd.
- YADEA Technology Group Co., Ltd.
- Bird Rides, Inc.
- SWAGTRON
- SEGWAY INC.
- Xiaomi
- iconBIT GmbH
Order a free sample PDF of the Electric Kick Scooters Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment