The electric kick scooter market is expected to grow from USD 2,700.9 million in 2023 to USD 8,021.5 million by 2033, reflecting a compound annual growth rate (CAGR) of 11.5% during the forecast period.
This growth is primarily driven by the rising demand for eco-friendly transportation options, fueled by environmental concerns and the push for sustainable mobility. Supportive government policies and initiatives promoting electric kick scooters as a viable last-mile transportation solution have further accelerated market expansion.
Despite this rapid growth, the electric kick scooter industry faces several challenges. Key issues include the need for improved infrastructure, such as more charging stations and designated parking areas. Regulatory hurdles and safety concerns about integrating electric kick scooters into existing transportation systems also pose obstacles to broader adoption. Additionally, limitations in battery life and range can deter potential consumers, emphasizing the need for continued advancements in battery technology.
However, the industry also presents promising opportunities. The increasing demand for convenient and sustainable transportation solutions in urban areas worldwide creates significant potential for electric kick scooter companies. The shift toward green mobility and the growing popularity of shared mobility services open up collaboration opportunities with ride-sharing platforms, expanding consumer reach. Strategic partnerships with local authorities and urban planning organizations can also facilitate infrastructure development, fostering a more favorable environment for electric kick scooter adoption.
Notable trends in the industry include the integration of advanced GPS technology and smartphone connectivity in electric kick scooters, enhancing the user experience with real-time navigation and ride management data. Additionally, the development of lightweight and foldable electric kick scooter models caters to the demand for versatile and portable transportation solutions.
Get a Comprehensive Synthetic Dye Industry Overview – Request Your Sample Report and Drive Business Success!
Key Takeaways from the Electric Kick Scooter Market Report:
The electric kick scooter industry is primarily led by the popular two-wheeled variant, commanding a significant share of 67.40% in 2023. The electric kick scooter industry has seen a notable surge in the adoption of lithium-ion batteries, which held a significant market share of 71.88% in 2023. The United States electric kick scooter industry is likely to expand at a CAGR of 11.20% from 2023 to 2033. Canada’s electric kick scooter industry is anticipated to witness a CAGR of 10.50% from 2023 to 2033. Germany’s electric kick scooter industry is expected to rise at a CAGR of 10.80% from 2023 to 2033. Italy’s electric kick scooter sector is projected to expand at a CAGR of 9.50% from 2023 to 2033. France’s electric kick scooter market is anticipated to expand at a CAGR of 11.00% from 2023 to 2033. The United Kingdom’s electric kick scooter market is expected to rise at a CAGR of 10.20% from 2023 to 2033. Spain’s electric kick scooter sector is expected to witness a CAGR of 9.80% from 2023 to 2033. China’s electric kick scooter industry is expected to grow at a CAGR of 12.60% from 2023 to 2033. India’s electric kick scooter industry is projected to witness a CAGR of 9.50% from 2023 to 2033. Japan’s electric kick scooter industry is set to experience a CAGR of 11.20% from 2023 to 2033. ASEAN’s electric kick scooter industry is expected to demonstrate a CAGR of 10.20% from 2023 to 2033. ANZ’s electric kick scooter industry is poised to demonstrate a CAGR of 9.60% from 2023 to 2033.
Competitive Landscape:
The electric kick scooter industry is highly competitive, with several leading players vying for market share. The companies in the industry also operate in a variety of markets around the world. The competition in the electric kick scooter industry is constantly evolving as new companies enter the market and existing companies expand their operations.
- Manufacturers constantly develop new electric kick scooter products with improved features and performance. For example, some companies are developing electric kick scooters with longer battery life, faster speeds, and more durable construction.
- Companies are expanding their operations into new markets around the world. For example, many leading electric kick scooter companies are now operating in Europe, Asia, and Latin America.
- Businesses are partnering and acquiring each other to expand their product offerings and geographic reach. For example, in 2021, Ford Motor Company acquired Spin, a leading electric kick scooter company.
The electric kick scooter industry is expected to remain highly competitive in the coming years. Companies will need to continue to innovate and expand their operations to succeed in this market.
Leading 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
Recent Developments in the Electric Kick Scooter Market:
- VOI Technology has launched a new fleet of electric kick scooters with built-in GPS tracking and navigation systems.
- Spin has launched a new line of electric kick scooters with self-balancing capabilities and improved safety features.
- SWAGTRON has launched a new line of electric kick scooters with foldable designs at affordable prices.
- Niu International has launched a new range of electric scooters with high-performance motors and long battery life. Niu International has expanded its operations into new markets in Europe and North America.
Electric Kick Scooter Market Segmentation:
By Product Type:
- Two Wheeled
- Three Wheeled
By Battery Type:
- Lead-based
- Nickel Based
- Lithium Ion
By Price Range:
- Below USD 200
- USD 200 to 375
- USD 375.1 to 750
- USD 750.1 to 1,100
- Above USD 1,100
By Wheel Size:
- Less than 8 Inch
- 8 to 8.5 Inch
- 9 to 9.5 Inch
- 10 to 10.5 Inch
- Greater than 11
By End Use:
- Personal
- Rental/ Sharing
- Law Enforcement
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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 400 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: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube