Electric Kick Scooters Market Growth & Trends
The global electric kick scooters market size is expected to reach USD 5.2 billion by 2028, according to a study conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.3% from 2021 to 2028. The growth of the market 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 electric kick scooter retail business activities across the globe. While manufacturing and supply chain activities were severely disrupted, the situation was particularly challenging for the manufacturers and dealers of electric kick scooters. In the near future, however, the fear of public transportation could motivate consumers to seek alternate modes of transportation, thereby driving the market. The pandemic is expected to be an accelerator for the transition to sustainable mobility.
The need for product differentiation and the introduction of next-generation technology is anticipated to favor market growth. One of the key factors expected to boost demand for the two-wheeler is the shrinking parking spaces in metro cities. In recent times, these two-wheelers have gained prominence in countries such as the U.S., Germany, France, and Spain. The growing need to avoid traffic congestions and increased demand for micro-mobility options have encouraged vendors to manufacture folding electric scooters. These two-wheelers offer flexibility with minimum energy consumption and can be easily folded to the size of a suitcase.
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 that are taken by governments to curb CO2 emissions are expected to boost the demand for electric scooters over the coming years.
North America is expected to be the fastest-growing regional market over the next few years. The U.S. is anticipated to emerge as an early adopter of e-scooters due to high technology penetration and developed e-charging infrastructure.
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Electric Kick Scooters Market Report Highlights
- The Lithium-Ion (Li-Ion) segment dominated the market in 2020 and is expected to reach USD 3.4 billion by 2028
- The 36V segment dominated the market in 2020 and is expected to reach USD 2.9 billion by 2028
- Asia Pacific is projected to account for the majority market share and is expected to reach USD 3.5 billion by 2028
Electric Kick Scooters Market Segmentation
Grand View Research has segmented the global electric kick scooters market on the basis of battery, voltage, and region:
Electric Kick Scooters Battery Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
- Sealed Lead Acid (SLA)
- Nickel Metal Hydride (NiMH)
- Lithium-Ion (Li-Ion)
Electric Kick Scooters Voltage Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
- Below 24V
- Greater than 48V
Electric Kick Scooters Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
List of Key Players of Electric Kick Scooters Market
- Jiangsu Xinri E-Vehicle Co. Ltd.
- YADEA Technology Group Co., Ltd.
- Bird Rides, Inc.
- SEGWAY INC.
- iconBIT GmbH
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.