With reference to the report published, the global electric kick scooters market was prized by USD 2.5 billion in 2020. It is estimated to witness a 10.3% CAGR from 2021 to 2028.
During the current period, kick scooters have appeared like a lucrative alternative for city travel. This is accredited to the simplicity of the operation they present and the smooth design. Speedy improvement in the distribution business of electric scooters is, moreover anticipated to make expansion opportunities to the market for electric kick scooters, in the projected period.
Some nations like the U.S., France, Germany, and Spain observed a large growth in the acceptance for kick scooters, during the previous years. This development anticipated persisting for the subsequent a small number of years. Moreover, the startup companies of the electric scooter allotment business are joining forces with the leading manufacturing companies to boost the client source as well as pick up their product assistance in the market.
The need for smaller parking spaces, inexpensive transport, the easiness of exercise in the traffic-congested metropolises, and rising focal point on the eco-friendly alternatives of transport are the factors, estimated to support the global demand for electric kick scooter distribution services.
Increasing carbon discharge, generated by fossil fuel-powered vehicles, has been a significant apprehension for the global government establishments. Electric kick scooters are an ecological in addition to practicable, alternative for short-distance travel. It is generating hopeful development possibilities, for the period of the forecast.
Besides ecological benefits, these scooters are very silent, creating them a perfect option for the metropolitan areas, looking for solutions to the increasing problem of sound pollution. As electric kick scooters operate on the batteries, they do not add to the greenhouse gas or carbon release.
The COVID-19 pandemic has unenthusiastically influenced the general micro-mobility manufacturing, in 2020. Owing to the sluggish demand a number of startups, working in this field such as Bird & Lime, have unwaged staff. Even so, these are the temporary consequences of the pandemic. The micro-mobility manufacturing is predictable to restart in the neighboring prospect.
Because of the expected rise in demand after the pandemic, and encouraging strategy by the government, it is likely to advantage from the escalating order for the extra eco friendly along with the stress-free transport alternative.
In 2020, the lithium-ion battery sector retained more than 60.0% shares of general revenue and ruled the electric kick scooter market. During the upcoming days, the environmental and performance returns offered by Li-Ion batteries above sealed lead acid batteries are estimated to put Li-Ion technology in the role of the worldwide normal battery technology, for electric kick scooters.
Additionally, sealed lead-acid batteries comprise the threat of lead pollution for the duration of manufacturing, after that throwing away. Thus, manufacturing companies have a preference for Li-Ion battery, instead of closed lead-acid batteries, intended for electric kick scooters. Incessant development in battery equipment has facilitated enhancing the storage space capability and decrease the general asking price of Li-Ion batteries, creating them an accepted option for inexpensive devices like kick scooters and mobiles.
In addition, dependable thermal constancy, an elongated working duration, extraordinary current intensity, and extended cycles of battery discharge, are the factors, estimated to support the expansion of the segment. Besides, in a contrast to sealed lead-acid batteries Li-Ion batteries, together with digital battery management, present earlier charging time and extended lifecycle.
In 2020, the 36V sector retained the biggest revenue share of above 55.0% and ruled the global electric kick scooters market. Due to their capability, which increases the driving span of the E-scooter, 36V batteries are admired. Since this range of voltage requires a compacted design along with the improved charging time, 36V batteries make use of Li-ion or NiMH technology. With reference to the necessities of the design along with the charge time, Li-ion batteries are ecological, in contrast to the sealed lead-acid batteries.
In terms of reach, the electric kick scooters, having a voltage of more than 48V, provide advantages. Those scooters discharge carbon dioxide at tolerable intensity. Moreover, 48V products present features like turbochargers and air conditioning compressors. Those machinery are not easy to put into practice within 24 V or 12V capacity scooters. The necessity to decrease the carbon track is projected to impel the order for elevated voltage electric kick scooters, for the duration of the forecast.
As a result of the growing requirement for the ecological alternative for traveling and fast-growing charging infrastructure, the electric kick scooter market in North America is estimated to come into view as the largely profitable local market. A slow but sure move towards electric kick scooters for limited travel will probably lead to wider reception, during the subsequent 8 years.
Besides, the growing alertness and reception of the consumer, the necessity to decrease the carbon track, by means of changing the presented convoy of scooters by their electric substitute, is estimated to generate expansion opportunities to the market during the close prospect.
The Asia Pacific held more than 70.0% revenue share in 2020 and led the global market for electric kick scooters. The enlargement of the local market is credited to the attendance of a number of OEMs like Xiaomi, YADEA Technology Group Co., Jiangsu Xinri E-Vehicle Co. Ltd., as well as SEGWAY INC., in China.
These companies sell their vehicles to global service suppliers for the electric scooter allocation and generate their main revenue share. The administration of some nations, like India, Japan, and China, are putting standards and systems, bound for the infrastructure of automobile charging. This is estimated to contain a constructive influence on the enlargement of the local market for electric kick scooters, throughout the anticipated period.
The OEM companies of this industry have adopted the strategy of mergers & acquisitions for their expansion. These mergers & acquisitions as well as the collaborations help the companies to spread out their geological attendance plus reach untouched markets.
Germany sourced micro-mobility solution supplier company, TIER Mobility, obtained the charging infrastructure as well as the convoy of 5,000 electric mopeds, from Coup Mobility, to go into the e-moped distribution market of Europe, in February 2020.
Likewise, Bird Rides, Inc. got hold of Scoot, in June 2019, to present riders with ultra-modern vehicles and provide its service in new cities.
• iconBIT GmbH
• SEGWAY INC.
• Bird Rides, Inc.
• Jiangsu Xinri E-Vehicle Co. Ltd.
• YADEA Technology Group Co., Ltd.
The market size value in 2021
USD 2.6 billion
The revenue forecast in 2028
USD 5.2 billion
CAGR of 10.3% from 2021 to 2028
The base year for estimation
2016 - 2019
2021 - 2028
Volume in Units, Revenue in USD Million, and CAGR from 2021 to 2028
Volume and Revenue Forecast, company ranking, competitive landscape, growth factors, and trends
Battery, voltage, region
North America; Europe; Asia Pacific; Latin America; the Middle East and Africa
Key companies profiled
Jiangsu Xinri E-Vehicle Co. Ltd.; YADEA Technology Group Co., Ltd.; Bird Rides, Inc.; SWAGTRON; SEGWAY INC.; Xiaomi; iconBIT GmbH
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global electric kick scooters market report on the basis of battery, voltage, and region:
• Battery Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
• Sealed Lead Acid (SLA)
• Nickel Metal Hydride (NiMH)
• Lithium-Ion (Li-Ion)
• Voltage Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
• Below 24V
• Greater than 48V
• Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
• North America
• The Asia Pacific
• Latin America
• Middle East and Africa
Research Support Specialist, USA
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