Market size, share and growth analysis by battery and voltage, across all major regions and key countries, with forecasts for 2022–2030. The competitive landscape profiles 14+ companies, including Micro Mobility Systems AG, Bird Rides Inc. and Golabs Inc..
The global electric kick scooters market was valued at USD 3.33 Bn in 2022 and is projected to reach USD 6 Bn by 2030, growing at a CAGR of 10%. Europe is the largest regional market and Asia-Pacific is growing fastest.
Reports Description
The demand for a convenient, eco-friendly mode of transportation is boosting the market.
According to Custom Market Insights (CMI), The Global Electric Kick Scooters Market sizewas worth around USD 3 billion in 2021 and is expected to reach USD 3.33 billion in 2022 and is predicted to grow to around USD 6 billion by 2030 with a compound annual growth rate (CAGR) of roughly 10% between 2022 and 2030.
The report analyses the Electric Kick Scooters market’s drivers and restraints and the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Electric Kick Scooters market.
Electric kick scooters are a hassle-free means of transportation, particularly in large cities with heavy traffic. As a convenient means of transportation, these vehicles have gradually begun to displace other cars. In addition, electric kick scooters have zero carbon emissions, making them a viable substitute for traditional two-wheelers and personal vehicles and a critical factor in growth for the foreseeable future.
Electric Kick Scooters Market: COVID–19 Impact Analysis
Production facilities and supply chain operations slowed down in 2020 due to the downturn of COVID-19's worldwide automobile industry. However, many nations have begun to slacken their production standards. In light of this, the automobile market is anticipated to return to profitability in the upcoming years.
People's transportation and travel patterns are altering as lockdown restrictions have been relaxed due to the outbreak. As a result, people avoid public transportation and prefer socially isolating modes of transportation, which increases the likelihood that electric kick scooters will be used.
Sales of electric kick scooters are anticipated to soar in the following years due to people's preference for customized vehicles over public transportation.
Electric Kick Scooters Market: Growth Drivers
Rising demand for a convenient, eco-friendly mode of transportation
The factors predicted to support the global market for electric kick scooters include the need for smaller parking spaces, affordable transportation, the ease of exercise in traffic-congested metropolises, and growing attention to eco-friendly transportation alternatives.
The growing carbon emissions from fossil fuel-powered automobiles have caused significant concern for international government institutions. Electric kick scooters are a convenient and eco-friendly option for short-distance transport. For the duration of the forecast, it is producing positive development prospects.
Declining EV batteries costs
The past ten years have seen a decline in the price of EV batteries due to scientific improvements and the mass manufacture of EV batteries. Since EV batteries are one of the more expensive parts of the car, this has caused the price of electric vehicles to drop. For example, approximately USD 1,100 per kWh was the cost of an EV battery in 2010. However, the cost will drop to around USD 137 per kWh by 2020 and fall as low as USD 120 per kWh in 2021. Therefore, these batteries can be purchased in China for as little as $100 per kWh.
This is due to more production, lower prices for cathode materials, and declining manufacturing costs for these batteries. As a result, by 2030, it's anticipated that EV battery costs will drop to around USD 60 per kWh, significantly lowering the cost of EVs and making them more affordable than traditional ICE vehicles.
Electric Kick Scooters Market Segmentation Analysis
The electric kick scooter market is segmented into battery and voltage in our research scope. In 2022, the lithium-ion battery sector held a dominating market share of more than 60.0%. In the years ahead, Li-Ion technology is anticipated to overtake sealed lead acid batteries as the global standard battery technology for electric kick scooters due to its superior performance and environmental benefits. Additionally, there is a chance that leads contamination will occur during the manufacturing and disposal of sealed lead-acid batteries. Li-Ion batteries are therefore preferred by producers over sealed lead-acid batteries for electric kick scooters.
Continuous advancements in battery technology have improved Li-Ion batteries' overall cost-effectiveness and storage capacity, making them a preferred option for portable, low-cost products like kick scooters. Additionally, it is anticipated that lengthy battery discharge cycles, high current densities, long useable lifespans, and consistent thermal stability will support segment expansion. In addition, compared to sealed lead-acid batteries, Li-Ion batteries with digital battery management enable quicker charging times and longer battery lifecycles.
Report Scope
Feature of the Report
Details
Market Size in 2021
USD 3 Billion
Projected Market Size in 2030
USD 6 Billion
Market Size in 2022
USD 3.33 Billion
CAGR Growth Rate
10% CAGR
Base Year
2023
Forecast Period
2024-2033
Prominent Players
Micro Mobility Systems AG, Bird Rides Inc., Golabs Inc., Segway Inc., AKTIVO Scooter, IconBIT Limited, Razor LLC, GOVECS AG, Xiaomi Corporation, SWAGTRON, YADEA Technology Group Co. Ltd, VOI Technology, Spin, Niu International, and Others
Key Segment
By Battery, Voltage, and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options
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Key Insights:
As per the analysis shared by our research analyst, the Electric Kick Scooters market is estimated to grow annually at a CAGR of around 10% over the forecast period (2022-2030).
In terms of revenue, the Electric Kick Scooter market size was valued at around USD 3 billion in 2021 and is projected to reach USD 6 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
Based on battery segmentation, the lithium-ion battery segment was estimated to hold the maximum market share in 2021.
The 36V segment was the top revenue-generating category based on voltage segmentation in 2021.
Based on geography/region, the Asia Pacific region was the leading revenue generator in 2021.
Recent Development
June 2021: The Petronas Sepang Racing Team and Velocifero will release a limited-edition Mad Air electric kick scooter for the Dutch GP.
July 2021: A brand-new electric kick scooter from BMW that will be included in the official 2022 lineup has begun manufacturing.
Regional Landscape
In 2021, Asia Pacific held the most significant revenue share (more than 60.0%) and dominated the market for electric kick scooters. Numerous OEMs, including SEGWAY INC., Jiangsu Xinri E-Vehicle Co. Ltd., Xiaomi, and YADEA Technology Group Co., Ltd., are present in the region responsible for the market's expansion. These businesses sell their electric scooters to companies that offer scooter rental services worldwide, which accounts for most of their revenue.
In addition, governments in several nations, including China, Japan, and India, are establishing rules and criteria for vehicle charging infrastructure, which is anticipated to have a favorable effect on the prospects for regional growth over the projected period.
The industry is anticipated to become the most lucrative regional market in North America as a result of the expanding demand for environmentally friendly transportation options and charging infrastructure that is rapidly growing. Over the next eight years, a gradual switch to electric kick scooters for short-distance journeys may pave the way for greater acceptability. Along with customer acceptance and awareness, it is projected that the necessity to minimize carbon footprint through actions like replacing the current fleet of scooters with electric alternatives would open up new business opportunities shortly.
Competitive Landscape
One of the OEMs' most common expansion strategies in this business has been mergers and acquisitions, especially those with a strong emphasis on technology simplification. These partnerships, unions, and acquisitions aid companies in geographical expansion and market penetration in addition to technology development.
Prominent Players:
Micro Mobility Systems AG
Bird Rides Inc.
Golabs Inc.
Segway Inc.
AKTIVO Scooter
IconBIT Limited
Razor LLC
GOVECS AG
Xiaomi Corporation
SWAGTRON
YADEA Technology Group Co. Ltd
VOI Technology
Spin
Niu International
The global Electric Kick Scooters market is segmented as follows:
Ayush Kadam is a Senior Market Research Analyst at Custom Market Insights, with over seven years of experience in syndicated and custom market research. He specializes in market sizing, competitive intelligence, industry trends, forecasting, and strategic insights, helping clients turn complex data into actionable business decisions.