Electric Kick Scooter Market Aims to Expand at Double-Digit Growth Rate | GOVECS AG, iconBIT, Jiangsu Xinri E-Vehicle Co., Ltd.

Electric kick is a powered stand-up scooter using an electric motor. It is equipped with rechargeable batteries and has the capability to offer power to one or more electric motors. Kick scooters have emerged as a cost-effective urban commute option in recent times. This is attributed to the sleek design and the ease of use it offers.

E-kick scooters are simple to operate, convenient for all age groups, and serve as an environment-friendly means of transportation, in comparison to motored vehicles. These scooters are now being considered a viable transportation option due to their power capacity, long-distance range, and moderate speed. The popularity of electric kick scooters is on an increase, due to rapid urbanization and surge in vehicular traffic on streets.

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Factors such as the deployment of kick scooters for shared mobility services, surge in popularity of electric vehicles and rise in awareness regarding the environmental advantages of electric kick scooters, and positive government regulations to encourage the use of electric kick scooters are expected to drive the market growth. However, high maintenance, as well as the manufacturing cost and ban on the use of e-kick scooters in major cities across the world, hinder the market growth. Furthermore, a rise in R&D investments for enhanced battery technologies and rapid technological advancements in the e-kick scooter industry are expected to offer lucrative opportunities for market growth.

The electric kick scooter market is segmented into battery type, voltage, and region. By battery type, the market is classified into sealed lead-acid (SLA), lithium-ion (Li-Ion), and others. By voltage, it is divided into less than 25V, 25V to 50V, and more than 50V. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Market players:

The global electric kick scooter market includes players such as GOVECS AG, iconBIT, Jiangsu Xinri E-Vehicle Co., Ltd., Ninebot (Segway Inc.), Ningbo MYWAY Intelligent Technology Co., Ltd. (Inokim), Niu International, Razor USA LLC, SWAGTRON, Xiaomi and YADEA Technology Group Co.

COVID-19 Impact Analysis:

The COVID-19 pandemic has impacted the overall electric kick scooter industry in 2020. Several electric kick scooter startups, such as Bird and Lime, have laid off employees due to stagnant demand. For instance, Lime laid off 13% of its workforce, saw its valuation fall by 79%, and initially withdrew from virtually all of its foreign markets. Likewise, Bird laid off 30% of its staff in March 2020. After acquiring Middle East-based micro-mobility startup Circ in January 2020, Bird shut down its entire operation in the region in June 2020.

Nevertheless, these are short-term consequences of the pandemic and the electric kick scooter industry is expected to gain traction in the near future. Moreover, the market is expected to benefit from the rise in demand for more environment-friendly and hassle-free transportation options, due to an upsurge in demand post-COVID-19, and favorable government policies.

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KEY BENEFITS FOR STAKEHOLDERS

- This study presents an analytical depiction of the global electric kick scooter market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall global electric kick scooter market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global electric kick scooter market with detailed impact analysis.
- The current global electric kick scooter market is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

KEY MARKET SEGMENTS

By Battery Type
o Sealed Lead Acid (SLA)
o Lithium Ion (Li-Ion)
o Others
By Voltage
o Less than 25V
o 25V to 50V
o More than 50V

By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? Netherlands
? Italy
? Rest of Europe
o Asia-Pacific
? China
? Japan
? India
? Australia
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa

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