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 electric kick scooter market is experiencing exponential growth fueled by urbanization, micro-mobility trends, and increasing demand for convenient and eco-friendly transportation solutions. Electric kick scooters, also known as e-scooters, offer a convenient and efficient mode of travel for short-distance commutes, urban exploration, and last-mile connectivity. As cities seek to reduce traffic congestion, emissions, and reliance on traditional transportation modes, the demand for electric kick scooters continues to rise, driven by several key factors.
Key Drivers Fueling Growth in the Electric Kick Scooter Market:
- Urbanization and Population Density: Rapid urbanization and population growth in cities worldwide create demand for compact, agile, and efficient transportation solutions for short-distance travel within urban environments. Electric kick scooters provide a convenient and eco-friendly alternative to cars, public transit, and rideshare services, enabling commuters to navigate congested city streets and access transit hubs, workplaces, and urban destinations with ease.
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- Micro-Mobility and Last-Mile Connectivity: The rise of micro-mobility trends and last-mile connectivity solutions drives the adoption of electric kick scooters as a first-mile/last-mile transportation option for commuters and urban residents. E-scooters offer flexible, on-demand mobility for short trips and urban exploration, bridging the gap between public transit stations, office buildings, residential neighborhoods, and popular destinations, reducing reliance on personal vehicles and alleviating urban congestion.
- Eco-Friendly Transportation Options: Growing environmental awareness and concerns about air pollution, greenhouse gas emissions, and climate change encourage consumers to embrace eco-friendly transportation options, including electric kick scooters. E-scooters produce zero tailpipe emissions and require less energy to operate compared to cars, making them a sustainable and low-impact mode of transportation for urban mobility and short-distance trips, especially in environmentally conscious cities and communities.
- Technological Advancements in E-Scooter Design: Ongoing advancements in e-scooter technology, battery technology, and lightweight materials improve the performance, range, and safety of electric kick scooters. Lithium-ion battery technology, brushless motors, and regenerative braking systems enhance the efficiency and energy recovery of e-scooters, enabling longer range, faster speeds, and smoother rides for commuters and urban riders.
- Rise of Shared Mobility Services: The proliferation of shared mobility services, including electric scooter-sharing programs, facilitates the widespread adoption and accessibility of electric kick scooters in urban areas. E-scooter sharing platforms offer users convenient, on-demand access to electric scooters for short trips and urban mobility, providing an alternative to traditional transportation modes and contributing to reduced traffic congestion and emissions in urban centers.
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.
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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
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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