The global electric kick scooter market is projected to grow at a CAGR of 11.7% during the forecast period. The sales of electric kick scooters are anticipated to surpass US$ 2.7 Billion in 2023. The value of the electric kick scooter market is anticipated to reach a high of US$ 8.2 Billion by the year 2033.
A key aspect surging the sales of electric kick scooters is the growing carbon emissions from fuel-powered automobiles that have been a major source of concern for governments around the globe. Electric transportation choices such as electric scooters are likely to grow more popular as regulatory authorities focus on smart city development, but at a slower rate than passenger vehicles/buses. These scooters are ultra-quiet, which makes them a great alternative for towns looking for answers to the mounting issue of noise pollution.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-13574
While customers in Latin America, the Middle East, Africa, and Asia Pacific regard electric kick scooters as a mode of short-distance transportation, consumers in North America and Europe see them as a lifestyle choice.
To keep consumers, vendors emphasize features such as longevity, low maintenance costs, and performance. As a result, suppliers concentrate on developing technologically superior cars that consider design/style, range, and speed parameters. OEMs are likely to be able to extend their income stream and geographical footprint as governments throughout the world invest in charging infrastructure and give customer incentives.
Owing to their compact size and simplicity of transportation, electric kick scooters are in high demand globally. As a result, rising traffic congestion throughout the world is increasing market demand for electric scooter-sharing services. As of February 2021, the Irish Minister of Transport, Eamon Ryan, has legalized the use of electric kick scooters on public roadways in Ireland without the requirement of a tax, insurance, or a driver’s license.
Furthermore, governments throughout the world are offering tax breaks and incentives to encourage the use of electric kick scooters and ecologically friendly autos. For instance, the Indian government announced in June 2019 a plan to decrease the goods and services tax (GST) on electric cars from 12 to 5% to stimulate faster adoption.
However, one of the issues likely to hinder the growth of the electric scooter-sharing industry is the demand for batteries with extended range, rapid charging, and long lifespan. Improvements in riding range can be made feasible by introducing advancements in battery technology, which is anticipated to raise the production cost of electric motors, providing a hurdle to their acceptance.
Key Takeaways from the Electric Kick Scooter Market:
- During the forecast period, the U.S. is estimated to account for a significant share of the global electric kick scooter market. This is attributed to the high demand for electric kick scooters amongst American consumers which are engineered to be the most durable and powerful form of mobility.
- During the forecast period, the Asia Pacific electric kick scooter market is expected to have the highest share, led by China and Japan. This is owing to the regional players representing a culmination of continual product development and user experience and providing stylish, practical, and economical transportation. These scooters are therefore available in a range of body shapes, sizes, and colors to accommodate every rider.
- Owing to its ability to minimize pollution and transportation congestion, along with its portability, the “two-wheeled” product type is expected to hold the greatest revenue, through the forecast period.
- As it does not need to be serviced frequently and has a charging capability of up to 70W with a short charging time, the “lithium-ion” battery type, accounts for a significant share and is the most lucrative segment for key players.
Who is Winning?
Owing to the existence of both international and local players, the global electric Kick scooter market is fragmented. Many manufacturers hold a significant market share in their respective areas. Organic advances, such as product approvals and novel electric kick scooter services, are typically extensively embraced by large organizations. These factors are expected to increase the global electric kick scooter market size.
Key Players:
Micro Mobility Systems AG, Golabs Inc., Bird Rides Inc., Segway Inc., IconBIT Limited, GOVECS AG, Razor LLC, Xiaomi Corporation, YADEA Technology Group Co. Ltd., AKTIVO Scooter, VOI Technology, Spin, SWAGTRON, Niu International
Direct Purchase of this Report:
https://www.futuremarketinsights.com/checkout/13574
Key Segments Profiled in the Electric Kick Scooter Market Survey
By Product Type:
- Two Wheeled
- Three Wheeled
By Battery Type:
- Lead-Based
- Nickel Based
- Lithium Ion
By Price Range:
- Below US$ 200
- US$ 200 – 375
- US$ 375.1 – 750
- US$ 750.1 – 1,100
- Above US$ 1,100
By Wheel Size:
- <8’’
- 8 – 8.5’’
- 9 – 9.5’’
- 10 – 10.5’’
- >11’’
By End Use:
- Personal
- Rental/ Sharing
- Law Enforcement
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube