Electric Kick Scooter Market Size is Envisioned to Reach USD 5,139 million By 2030: Straits Research
As regulatory authorities worldwide concentrate on developing smart cities, the popularity of electric transportation options such as e-kick scooters are expected to increase among millennials.
New York, United States, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The electric kick scooter, also known as the e-kick scooter or the motorized scooter, is a stand-up scooter with an integrated electric motor drive mechanism and battery. The electric motors are powered by the electricity stored in a rechargeable battery on board. According to the Straits Research, “The global electric kick scooter market size growing at a CAGR of 12.4%, and is envisioned to reach USD 5,139 million during the forecast period.”
*Rising Trends & Growth Opportunities*
Unlike other vehicles used for shared transportation services, electric kick scooters can be hyper-localized and used to solve the last-mile connectivity problem. Two American companies specializing in electric scooters, Bird and Lime, introduced dock-less, electric kick scooters in 2017. Within a year, Bird expanded to 100 cities and was valued at USD 2 billion. Moreover, the increased emphasis on eco-friendliness and the demand for cost-effective, efficient transportation have contributed to using electric kick scooters in shared mobility services.
In addition, electric kick scooters are a practical, affordable, and environmentally friendly option for commuting, creating promising growth prospects. Moreover, as regulatory authorities worldwide concentrate on developing smart cities, the popularity of electric transportation options such as e-kick scooters are expected to increase among millennials.
*Regional Insights*
Europe will have most of the market share during the forecast period growing at a CAGR of 10.19%. Electric kick scooters are becoming increasingly popular in Europe because people see them as the ideal combination of a mode of transportation and recreational activity. However, infrastructure has been developed in countries such as Germany, the United Kingdom, France, Italy, and the Netherlands, making it possible for the general public to use electric scooters without being hindered by heavy vehicle traffic.
Asia-Pacific will hold the second-largest market share, growing at a CAGR of 12.5%. Due to the e-kick scooter's light weight, eco-friendliness, low power requirements, and cost-effectiveness, its popularity in Asia-Pacific has increased relative to that of conventional modes of transportation. Due to the widespread adoption of these vehicles in China and Japan, densely populated urban areas, Asia-Pacific has amassed a sizeable share of the electric kick scooter market. China is an industry leader in producing and exporting electric kick bikes.
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*Key Highlights*
· Europe will have most of the market share during the forecast period growing at a CAGR of 10.19%.
· Based on battery type, the lithium-ion (Li-ion) segment is estimated to hold the largest share during the forecast period and grow at a CAGR of 12.7%.
· Based on voltage, the segment of 25V to 50V is expected to hold the largest market share during the forecast period and grow at a CAGR of 12%.
· Based on regional analysis, Europe will have most of the market share during the forecast period growing at a CAGR of 10.19%.
*Competitive Players in the Market*
1. GOVECS AG
2. iconBIT
3. Jiangsu Xinri E-Vehicle Co., Ltd
4. Ninebot (Segway Inc.)
5. Ningbo MYWAY Intelligent Technology Co., Ltd.
6. Niu International
7. Razor USA LLC
8. SWAGTRON
9. Xiaomi
10. YADEA Technology Group Co., Ltd
*Market News*
· In 2022, GOVECS AG successfully launched its newest scooter model, GOVECS FLEX DELIVERY, in the United States of America.
· In 2022, Ninebot (Segway Inc.) announced its latest innovation to meet the evolving demands of modern transportation with the release of the Segway GT-series and P-series along with the E110A.
*Global Electric Kick Scooter Market: Segmentation*
*By battery type*
· Sealed Lead Acid (SLA)
· Lithium-Ion (Li-Ion)
· Others
*By Voltage*
· Less than 25V
· 25V to 50V
· More than 50V
*By region*
· North America
· Europe
· Asia-Pacific
· LAMEA
*About Straits Research Pvt Ltd.*
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, specially designed and presented for decision making and ROI.
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