New York, United States , April 09, 2024 (GLOBE NEWSWIRE) -- The Global Electric Kick Scooter Market Size is expected to Grow from USD 3.6 Billion in 2023 to USD 9.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.19% during the projected period.
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An electric kick scooter is a small two-wheeled vehicle driven by an electrical motor. Electric kick scooters, as opposed to traditional scooters, use a rechargeable battery to propel themselves. They were designed for short-distance travel and are now widely used as an efficient mode of urban transportation. These scooters feature handlebars for steering and a small platform for the rider to stand on. A throttle is usually found on the handlebars. Speeds vary, but most models can travel at 15 to 20 mph. Electric kick scooters are an environmentally friendly alternative to gasoline-powered vehicles, particularly for short-distance travel. Furthermore, the growing popularity of sharing economies has led to increased acceptance of scooter-sharing services, which allow users to rent an electric kick scooter for a few minutes or hours while only paying for the time spent. Aside from that, government support is essential for the market growth of electric kick scooters. However, the high cost of battery pack replacement due to the batteries' short lifespan, combined with the high cost of maintaining electric components, raises the overall cost of operating electric kick scooters. As an outcome, the high maintenance and manufacturing costs of e-kick scooters pose serious obstacles to market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Electric Kick Scooter Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Two Wheeled, Three Wheeled), By Battery Type (Sealed Lead Acid (SLA), Lithium Ion (Li-Ion), Others), By Voltage (Less than 25V, 25V to 50V, More than 50V), By End User (Personal, Rental), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033."
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The two wheeled segment is expected to grow at rapid pace in the global electric kick scooter market during the projected timeframe.
Based on product type, the global electric kick scooter market is divided into two wheeled, three wheeled. Among these, the two wheeled segment is expected to grow at rapid pace in the global electric kick scooter market during the projected timeframe. This is due to rising urban congestion, two-wheeled electric kick scooters have gained popularity as a last-mile solution, covering the distance between final destinations and public transportation. Advancements in battery technology have also improved the performance and range of two-wheeled electric kick scooters, making them a more reliable and efficient option for customers.
The lithium-ion (Li-Ion) segment is expected to grow at rapid pace in the global electric kick Scooter market during the projected timeframe.
Based on the battery type, the global electric kick scooter market is divided into sealed lead acid (SLA), lithium-ion (Li-Ion), and others. Among these, the lithium-ion (Li-Ion) segment is expected to grow at rapid pace in the global electric kick scooter market during the projected timeframe. The widespread use of lithium-ion (Li-Ion) batteries is a major market driver for the electric kick scooter industry. Li-Ion batteries have numerous advantages over traditional battery types such as lead-acid or nickel-cadmium, including increased energy density, longer lifespan, and faster charging. These features increase the efficiency, dependability, and convenience of electric kick scooters powered by Li-Ion batteries.
The 25V to 50V segment is expected to hold the greatest share of the global electric kick scooter market during the projected timeframe.
Based on voltage, the global electric kick scooter market is divided into less than 25V, 25V to 50V, and more than 50V. Among these, the 25V to 50V segment is expected to hold the greatest share of the global electric kick scooter market during the projected timeframe. Scooters in this voltage range strike a balance between performance and energy efficiency, offering sufficient speed and range while extending battery life. Furthermore, the 25V to 50V range is adaptable, allowing for a wide range of use cases, from short 'last-mile' commutes to longer trips within city limits.
The personal segment is expected to hold the greatest share of the global electric kick scooter market during the forecast period.
Based on end user, the global electric kick scooter market is divided into personal, and rental. Among these, the personal segment is expected to hold the greatest share of the global electric kick scooter market during the forecast period. The rising need for personal applications is a significant market driver in the electric kick scooter industry. Consumers are increasingly appreciating the versatility, convenience, and independence that these scooters offer for daily commuting and short-distance travel. With increasing urban congestion and the inconveniences of car ownership, such as parking and maintenance costs have emerged as a viable personal transportation option.
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Europe is anticipated to hold the biggest share of the global electric kick scooter market over the predicted timeframe.
Europe is projected to hold the biggest share of the global electric kick scooter market over the predicted timeframe. The electric kick scooter industry in Europe is rapidly expanding, due to the region's focus on reducing carbon emissions and promoting sustainable urban mobility solutions. Several European cities have extensive public transportation networks and electric kick scooters are an excellent last-mile option to supplement existing transit systems. Aside from that, regulatory support is clear, with governments allocating space for scooter parking and even establishing scooter lanes in select cities. In addition, high fuel costs and limited parking spaces in densely populated urban areas make electric kick scooters an appealing, cost-effective alternative.
Asia-Pacific is predicted to grow at the fastest pace in the global electric kick scooter market during the projected timeframe. The presence of multiple OEMs in China, such as Xiaomi, YADEA Technology Group Co., Ltd., and SEGWAY INC., indicates a significant regional market potential. The majority of these companies' revenue is generated by selling their electric scooters to companies that rent scooters around the world. Governments in several countries, including China, Japan, and India, are developing guidelines and standards for vehicle charging infrastructure, which is expected to boost regional growth prospects in the coming year.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global electric kick scooter market are AKTIVO Scoot, Jetsons, Micro Mobility Systems AG, Niu Technologies, Razor USA LLC, Segway Inc., Swagtron, Yadea Technology Group Co. Ltd., Xiaomi Inc., Globber, GOVECS AG, Hiboy, IconBIT GmbH, and Others.
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Recent Developments
- In November 2022, the world-famous NIU Technologies, a business committed to utilizing electric vehicle technology to transform urban mobility, is happy to announce the launch of its newest micro-mobility product, the NIU BQi-C3 Pro Electric Urban Commuter Bike. It boasts a remarkable range of 40–60 miles, a maximum speed of 28 mph, and a unique dual battery configuration.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global electric kick scooter market based on the below-mentioned segments:
Global Electric Kick Scooter Market, Product Type Analysis
- Two Wheeled
- Three Wheeled
Global Electric Kick Scooter Market, Battery Type Analysis
- Sealed Lead Acid (SLA)
- Lithium Ion (Li-Ion),
- Others
Global Electric Kick Scooter Market, Voltage Analysis
- Less than 25V
- 25V to 50V
- More than 50V
Global Electric Kick Scooter Market, End User Analysis
- Personal
- Rental
Global Electric Kick Scooter Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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