Electric Kick Scooter Market Statistics 2028 -
The global electric kick scooter market was valued at $2.10 billion in 2020, and is projected to reach $4.52 billion by 2028, registering a CAGR of 12.2% from 2021 to 2028.
Electric kick scooter, also known as an e-kick scooter or a motorized scooter, is a stand-up scooter powered by an integrated electric motor drive mechanism and battery. The electricity is stored on board in a rechargeable battery, which drives the electric motors. It is classified as a form of micro-mobility, where the rider stands in the center. Electric kick scooters are a flexible, versatile, eco-friendly, and trendy mode of transport. Consumers look up to them as an ideal substitute for electric bikes or electric bicycles. These scooters help to tackle traffic congestion, owing to the smaller size, attain higher speeds with lesser effort, and gain from the advantages of health benefits. These factors lead to rise in popularity of electric kick scooters across the globe.
Factors such as deployment of kick scooters for shared mobility services, surge in popularity of electric vehicles, and rise in awareness regarding environmental advantages of electric kick scooter and positive government regulations to encourage the use of electric kick scooters are expected to drive the market growth. However, high maintenance as well as the manufacturing cost and ban on use of e-kick scooter in major cities across the world hinder the market growth. Furthermore, surge in R&D investments for enhanced battery technologies and rapid technological advancements in e-kick scooters industry are expected to offer lucrative opportunities for the market growth.
The electric kick scooters market is segmented into battery type, voltage, and region. By battery type, the market is divided into sealed lead acid (SLA), lithium ion (Li-Ion), and others. By voltage, it is classified into less than 25V, 25V to 50V and more than 50V. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
GOVECS AG, iconBIT, Jiangsu Xinri E-Vehicle Co.,Ltd., Ninebot (Segway Inc.), Ningbo MYWAY Intelligent Technology Co., Ltd. (Inokim), Niu International, Razor USA LLC, SWAGTRON, Xiaomi and YADEA Technology Group Co., Ltd. are some of the leading key players operating in the electric kick scooter market.
COVID-19 Impact Analysis:
The outbreak of COVID-19 caused huge impacts on the global economy, owing to total lockdown and temporary shutdown of industries across the world. Public transport tends to contain many people in one shared space, which boosts the spread of the coronavirus disease. As people reassess ground transportation options in the face of the COVID-19 pandemic, many are choosing isolated modes such as driving or biking over public transportation or ride-sharing. People are choosing electric kick scooter services to cover medium to short distances in view of health safety concerns during the outbreak.
Deployment of kick scooters for shared mobility services
In comparison with other types of electric vehicles used for shared mobility services, electric kick scooters can be more hyper-localized and can be leveraged to solve the problem of last-mile connectivity. In addition, as a means of shared mobility, these electric kick scooters are compact, easier to operate, and do not require any physical exertion. In addition, several leading companies have expanded their electric kick scooter sharing services to different locations and geographies. For instance, Bird and Lime, two American electrical scooter companies, launched dock-less eclectic kick scooters in 2017. Within a year, Bird reached 100 cities and a valuation of $2 billion. In the same year, Lime offered more than 11.5 million rides. Also, in 2018, Muving SL, a Spanish electric scooter sharing company, launched its service in Atlanta, the U.S. Moreover, several leading ride-hailing and automotive companies are focusing on acquiring electric two-wheeler sharing companies so as to increase their service offerings. In November 2018, Ford Motor Company acquired Spin, an electric kick scooter startup, for around $40 million. Furthermore, increase in focus on environment-friendliness and the need for effective, low-cost transportation have contributed to surge in demand for electric kick scooters in shared mobility services. Thus, the deployment of electric kick scooters in shared mobility services drives the market growth.
Positive government regulations to encourage the use of electric kick scooters
Governments of various countries are taking initiatives to reduce the carbon footprints by encouraging the use of electric vehicles including electric bikes, electric kick scooters, and electric bicycles, owing to increase in awareness toward the hazardous effects of using vehicles running on fossil fuels. Moreover, governments are allowing usage of kick scooter on public or defined streets, which are encouraging individuals to opt for e-kick scooter as a key mode of commute. For instance, as of February 2021, Irish Minister for Transport Eamon Ryan, legalized the use of electric kick scooters on public roads of Ireland without requiring tax, insurance or driving license. Furthermore, to encourage the use of these environment-friendly vehicles, governments around the world are supporting for the purchase of electric mobility, in terms of tax credits and incentives. For instance, in June 2019, the Indian Government announced a plan to lower the goods & service tax (GST) on e-vehicles from 12% to 5% for faster adoption of electric vehicles.
By Battery Type
Others is projected as the most lucrative segments
High maintenance as well as the manufacturing cost
The cost of the battery and technology makes e-kick scooters costlier as compared to traditional bicycles, conventional scooters, or motorcycles. Hence, consumers find conventional scooters or motorcycles superior in performance with same or less price. Moreover, the use of drive mechanism of motor incurs maximum manufacturing cost, thereby restraining the growth of the market. Furthermore, high battery pack replacement cost, owing to the short life of the batteries and high electric component maintenance cost increases the overall maintenance cost of the electric kick scooters. Hence, upsurge in adoption of e-kick scooters in other than developed countries such as China and the U.S., are limited by high costs. Therefore, high maintenance as well as the manufacturing cost of e-kick scooters is a major factor that restrains the growth of the market.
By Voltage
More than 50V is projected as the most lucrative segments
Rapid technological advancements in e-kick scooters industry
Leading vendors in electric kick scooter industry are primarily focusing on enhancement of durability, performance, and range of e-kick scooter. In addition, manufacturers also focusing on implementing advanced technologies such as swappable battery technology, GPS, swappable battery technology, swappable battery technology, and others. Therefore, vendors are launching technologically-advanced vehicles taking into consideration design/style and range & speed specifications. For instance, in August 2020, a leading European e-scooter company TIER, has unveiled its most advanced scooter with user swappable batteries, a built-in helmet and indicator lights. This e-kick scooter enables users to extend range of scooter by swapping out batteries within 3-5 minute at TIER charging stations. Moreover, there has been a surge in trend among manufacturers to develop solar power and self-balancing electric scooter, which are expected to witness a positive growth opportunity during the forecast period.
By Region
LAMEA would exhibit the highest CAGR of 15.4% during 2021-2028.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global electric kick scooter market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall global electric kick scooter market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global electric kick scooter market with a detailed impact analysis.
- The current global electric kick scooter market is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Netherlands
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- GOVECS AG
- iconBIT
- Jiangsu Xinri E-Vehicle Co., Ltd.
- Ninebot (Segway Inc.)
- Ningbo MYWAY Intelligent Technology Co.,Ltd. (Inokim)
- Niu International
- Razor USA LLC
- SWAGTRON
- Xiaomi
- YADEA Technology Group Co., Ltd.
Electric Kick Scooter Market Report Highlights
| Aspects | Details |
 By BATTERY TYPE |
|
 By VOLTAGE |
|
 By Region |
|
 Key Market Players | Razor USA LLC, Ninebot (Segway Inc.), YADEA Technology Group Co., Ltd., IconBIT, SWAGTRON, .Ningbo MYWAY Intelligent Technology Co., Ltd (Inokim), Xiaomi Inc., Jiangsu Xinri E-Vehicle Co., Ltd, GOVECS AG, Niu International |
Analyst Review
The electric kick scooter market is expected to witness remarkable growth in the future, owing to deployment of kick scooters for shared mobility services, surge in popularity of electric vehicles, and rise in awareness regarding the environmental advantages of electric kick scooters. Moreover, surge in R&D investments for enhanced battery technologies supplement the market growth.
Sanket Agrawal of Ahmedabad-based Swagtron, a firm that sells kick scooters and hoverboards, said there is a rise in demand for e-kick scooter in near future, owing to the increase in usage of electric kick scooters at private spaces & large campuses such as tech parks and educational institutions for last-mile commuting.
In addition, electric scooters play a pivotal role in the health and safety of the environment. People are taking environment-friendly measures to commute as the pollution due to vehicle emission is at its peak. Also, these scooters are more popular in urban areas. Several countries in North America and Europe, including the U.S., Mexico, Canada, Germany, France, Switzerland, and Austria, have permitted the use of electric scooters on public streets, though the rider needs to be 18+ years of age. This has led to the increased use of e-kick scooters.
Moreover, factors such as positive government regulations to encourage the use of electric kick scooters, and rapid technological advancements in e-kick scooters industry are offering lucrative growth opportunities for the market growth. However, high maintenance as well as manufacturing cost and ban on use of e-kick scooter in major cities across the world hinder the market growth. Furthermore, improvement in bicycling infrastructure & battery technology is expected to offer lucrative opportunities for the market growth.
Among the analyzed regions, Europe is the highest revenue contributor, followed by Asia-Pacific, North America, and LAMEA. On the basis of forecast analysis, Europe is expected to maintain its lead during the forecast period, owing to the European Government and environmental agencies are enacting stringent emission norms & laws that increase the demand for electric bikes and electric scooters in Europe.
The global electric kick scooter market was valued at $2,099.00 million in 2020, and is projected to reach $4,517.40 million by 2028, registering a CAGR of 12.2% from 2021 to 2028.
The health crisis due to Covid-19 has had a significant impact on shared mobility and more particularly on the use of shared bikes. However, stay-at-home orders and limited business operations in countries across the world has resulted in decrease in demand for electric kick scooter services. Although, as people reassess ground transportation options in the face of the COVID-19 pandemic, many are choosing isolated modes such as electric bikes and scooters over public transportation or ride-sharing. People are choosing electric kick scooter services to cover medium to short distances in view of health safety concerns during the outbreak.
The sample for global electric kick scooter market report can be obtained on demand from the AMR website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.
There are certain upcoming trands in electric kick scooter such as growing R&D investments for enhanced battery technologies and rapid technological advancements in e-kick scooters industry
The key growth strategies adopted by the electric kick scooter industry players includes business expansion, collaboration, product launch, agreement and partnership. These strategies opted by various industry players is leading to the growth of the electric kick scooter market as well as the players.
The company profiles of the top market players of electric kick scooter service industry can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the electric kick scooter market.
Europe region is leading the market presently in terms of revenue. However, LAMEA region and Mexico is expected to provide more business opportunities for the key players operating in the global electric kick scooter market.
By battery type, others segment is expacted to gain traction over the forecast period as well as domainate the market share in the global electric kick scooter market
Mexico, Canada, Japan and India has wirnessed as a key matured markets growing in the global electric kick scooter market
Positive government regulations to encourage the use of electric kick scooters, deployment of kick scooters for shared mobility services and ban on use of e-kick scooter in major cities across the world have strong impact on the global electric kick scooter market
Loading Table Of Content...
