The global electric kick scooter market 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 increasing carbon emissions from gasoline-powered vehicles, which have been a major cause of concern for governments all over the world, is a significant factor driving the sales of electric kick scooters. As regulatory authorities concentrate on the creation of smart cities, electric transportation options like electric scooters are likely to become more popular, though at a slower rate than passenger vehicles and buses. Due to their extreme quietness, these scooters are a fantastic alternative for cities looking for solutions to the growing problem of noise pollution.
Customers in North America and Europe view electric kick scooters as a lifestyle choice, whereas those in Latin America, the Middle East, Africa, and Asia Pacific view them as a short-distance form of transit.
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Vendors place a strong emphasis on attributes including durability, low maintenance requirements, and performance to retain customers. As a result, providers focus on creating technologically advanced vehicles that take design/style, range, and speed factors into account. As governments throughout the world invest in charging infrastructure and offer incentives to consumers, OEMs should be able to expand their revenue stream and global reach.
Electric kick scooters are quite popular all over the world because of their small size and ease of transportation. As a result, the market demand for electric scooter-sharing services is expanding due to increased traffic congestion around the globe. Eamon Ryan, the Irish minister of transportation, has made it legal to operate electric kick scooters on the country’s public roads as of February 2021 without paying a fee, having insurance, or needing a driver’s license.
Governments all across the world are also providing tax breaks and incentives to promote the usage of electric scooters and environmentally friendly cars. For instance, to encourage quicker adoption, the Indian government announced in June 2019 a plan to reduce the goods and services tax (GST) on electric automobiles from 12 to 5%.
The need for batteries with a long range, quick charging, and long lifespan is one of the problems that is anticipated to impede the expansion of the electric scooter sharing sector. It is possible to increase riding range by incorporating advances in battery technology, but doing so is expected to increase the cost of producing electric motors, posing a barrier to their adoption.
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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
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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.
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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