Know More About “Electric Kick Scooter Market 2023-2030” Growth Worldwide…..|Grand View Research, Inc.

San Francisco, 16 April 2024: The Report Electric Kick Scooter Market Size, Share & Trends Analysis Report By Battery (Lead Acid, Lithium Ion (Li-Ion), Others), By Drive (Belt Drive, Chain Drive, Hub Drive), By End-use, By Region, And Segment Forecasts, 2023 - 2030

The global electric kick scooter market size is expected to reach USD 12.26 billion and register a CAGR of 13.7% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. The market growth is attributed to the increasing penetration of cost-effective electric scooter sharing services across the globe.

While the market is expected to witness promising growth opportunities in the long run, the COVID-19 pandemic is likely to negatively impact the market. Strict restrictions on transportation activities and lockdowns in the first half of 2020 paralyzed e-kick scooter retail business activities across the globe. While manufacturing and supply chain activities were severely disrupted, the situation was particularly challenging for manufacturers and dealers. Post pandemic, government initiatives to replace existing fleet with an electric vehicle, and more and more e-kick scooter manufacturers entering the ride sharing service market is propelling the market.

The need for product differentiation and the introduction of next-generation technology is anticipated to favor the e-kick scooter market growth. One of the key factors expected to boost the demand is shrinking parking spaces in metro cities. Moreover, scooters have gained prominence in countries such as the U.S., Germany, France, and Spain. The growing need to avoid traffic congestion and increased demand for micro-mobility options have encouraged vendors to manufacture folding electric kick scooters. These foldable electric kick scooters are portable, lightweight, and require low maintenance cost thus they are widely preferred by consumers end.

An increase in greenhouse gas emissions has resulted in initiatives to combat climate change with hopes pinned on e-mobility. Several countries globally have started enacting climate change action plans to reduce vehicular emissions by adopting sustainable and eco-friendly transportation options. Furthermore, investments in clean energy and initiatives taken by governments to curb CO2 emissions are expected to boost the demand for e-kick scooters over the coming years.

North America is expected to be the fastest-growing region over the next few years. The high growth of the region is attributed to the rapid rate of adoption in the U.S. and Canada. The people in the region have shifted their interest towards buying the technologically advanced e kick scooter for short distance commutes and local site seeing.

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Globally, the e-kick scooter is also termed as the electric motorized scooter or standing scooter or electric scooter. These have emerged as a cost-effective urban commute option in recent times, this is attributed to the sleek design and the ease of use. Besides, increasing investment in developing bike lanes in the emerging economies of the world is driving market growth. Rising awareness about environmentally friendly transportation, fluctuating fuel prices, and the increasing demand for easy short distance commuting is fueling the growth of the market. The COVID-19 pandemic has negatively impacted the overall automobile industry in 2023 and 2022. Global supply chain disruption and loss due to the shutting down of the production and assembly plants have severe impacts on the growth of the market. Post-pandemic 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.

Electric Kick Scooter Market Report Highlights

• The Lithium Ion (Li-Ion) segment dominated the market in 2022 and is expected to reach USD 11.7 billion by 2030.
• The personal segment dominated the market in 2022. The segment is expected to hold more than 60% market share.
• Europe is projected to account for the high market share and is expected to reach USD 7.3 billion by 2030.

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, and this trend is expected to continue over the next few years. Additionally, electric scooter ride hailing start-ups are collaborating with top manufacturers in the market to expand their customer base offerings in the market. Besides, the benefits of e-kick scooter such as lesser parking space requirement, light in weight, easy to carry, quick charging and cost-effective transportation are expected to favor the growth and electric scooter sharing services across the world.

Growing carbon emissions have been a key concern for government authorities across the world. The government is taking various initiatives by changing policies, mandates and incentives to support electric vehicles in the market which is shifting the consumers preference from conventional vehicle to electric two wheelers such e-kick scooter majorly in the developed regions of the world. Moreover, regulatory authorities are also focusing on infrastructure development that has increased the penetration of electric transportation options. Thereby the government and regulatory authorities’ initiatives are expected to create new growth opportunities for the market.

The key players in the market are focusing on developing technologically advanced, durable, low-maintenance, high-speed scooter and a wide range of electric kick scooters that meets customers’ demands globally.  Consumers based in the developing nations of Latin America, the Middle East and Africa, and Asia Pacific perceive e-kick scooters as a means for short-distance transportation. However, in North America and Europe, consumers tend to consider the use of e-kick scooters more as a means of a healthy lifestyle. Therefore, global players such as NIU International, Xiaomi, Yadea technology Group are working on developing technologically advanced design/style and high-speed electric kick scooters For instance, in October 2022, NIU International launched the KQi3 Max with a top speed of 20 MPH, and 40.4-mile range and offers maximum comfort and stability to consumers.

Electric Kick Scooter Market Report Scope

Major players are particularly focused on streamlining technology have been one of the most popular growth strategies used by OEMs in this industry. These players have adopted the strategies such as merger and acquisition, collaboration, and product launch to increase their business footprint in the global market. Additionally, the key player in the electric scooter market is majorly focusing on strong partnerships with distributors and dealers in the local market. For instance, in September 2022, GOTRAX, an electric mobility company based in the U.S. added more than 130 dealers and new B2B partners to distribute company-offered electric scooters in the U.S. Besides, the company further has plans to expand its dealership program across the U.S. by offering e-bikes for kids and adults at special discount rates to dealers in the state.

List of Key Players of Electric Kick Scooter Market

• Segway Inc.
• Jiangsu Xinri E-Vehicle Co. Ltd.
• YADEA Technology Group Co., Ltd.
• NIU International
• Bird Rides, Inc.
• SWAGTRON
• SEGWAY INC.
• Xiaomi
• iconBIT GmbH
• Razor USA LLC