Press release
Electric Kick Scooters Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 To 2033
Global Electric Kick Scooters Market
Electric kick scooters have become a popular mode of transportation in recent years, especially in urban areas. They are environmentally friendly, cost-effective, and offer an efficient way to travel short distances. With the rise of electric scooters, the global electric kick scooters market has witnessed significant growth in the last few years.
The market is expected to grow at a CAGR of over 11.21% between 2023 and 2033, according to our report. Factors such as increasing awareness about the benefits of electric kick scooters, rising fuel prices, and government initiatives to promote sustainable transportation are driving the growth of the market.
In this article, we will explore the trends, challenges, and opportunities in the global electric kick scooters market.
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Market Trends
Increasing Popularity of Electric Kick Scooters
Electric kick scooters have become increasingly popular among commuters, particularly in urban areas. They are a convenient and affordable way to travel short distances, reducing the need for cars or public transportation. Many people prefer electric kick scooters for their portability, ease of use, and ability to navigate through traffic quickly.
Emergence of Sharing Services
One of the significant trends in the global electric kick scooters market is the emergence of sharing services. Companies like Lime, Bird, and Spin have introduced electric kick scooters for rent in many cities worldwide. The sharing services have made electric kick scooters accessible to a broader audience, providing a convenient and affordable way to travel.
Technological Advancements
Technological advancements have played a crucial role in the growth of the electric kick scooter market. Innovations in battery technology, motor efficiency, and connectivity have improved the performance and user experience of electric kick scooters. The integration of GPS and IoT technology has enabled better tracking and management of electric kick scooter fleets.
Global Electric Kick Scooters Market- Segmental assessment
By battery type
• Sealed lead acid (SLA)
• Lithium ion (Li-Ion)
• Others
By voltage
• Less than 25V
• 25V to 50V
• More than 50V
• Others
Global Electric Kick Scooters Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030, because of the region's low cost of electric vehicles and growing environmental concerns.
Global Electric Kick Scooters Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Gogoro Inc., Terra Motors, YADEA TECHNOLOGY GROUP CO., LTD., Golabs Inc., Bird Rides, Inc., SWAGTRON, SEGWAY INC., Xiaomi, iconBIT GmbH, Zhejiang Okai Vehicle Co, Ltd., GOVECS AG, Mahindra & Mahindra Ltd., KTM Sportmotorcycle GmbH, YAMAHA Motor Pvt. Ltd., WIND Mobility, Razor USA LLC, Honda Motor Co., Ltd, Niu International., AKTIVO Motors and Vmoto Limited, among other.
Report scope
Global Electric Kick Scooters Market: Historical Years- 2018-2021
Global Electric Kick Scooters Market: Forecast Years- 2022-2030
Global Electric Kick Scooters Market 2022- USD 2.77 Billion
Global Electric Kick Scooters Market 2030- USD 5.43 Billion
Global Electric Kick Scooters Market CAGR- 11.21%
Key segments covered-
1) By Battery type (sealed lead acid (SLA), Lithium Ion (Li-Ion), and others).
2) By Voltage (less than 25V, 25 V to 50 V, and others).
Major regions and countries reported-
1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- Gogoro Inc., Terra Motors, YADEA TECHNOLOGY GROUP CO., LTD., Golabs Inc., Bird Rides, Inc., SWAGTRON, SEGWAY INC., Xiaomi, iconBIT GmbH, Zhejiang Okai Vehicle Co, Ltd., GOVECS AG, Mahindra & Mahindra Ltd., KTM Sportmotorcycle GmbH, YAMAHA Motor Pvt. Ltd., WIND Mobility, Razor USA LLC, Honda Motor Co., Ltd, Niu International., AKTIVO Motors and Vmoto Limited, among other.
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Market Challenges
Safety Concerns
One of the primary challenges facing the global electric kick scooters market is safety concerns. Electric kick scooters can be dangerous for both riders and pedestrians if not used properly. Lack of proper infrastructure, such as dedicated bike lanes and parking spots, can also increase the risk of accidents.
Regulatory Issues
Another challenge facing the electric kick scooter market is regulatory issues. Many cities have imposed regulations on the use of electric kick scooters, such as speed limits, helmet requirements, and parking restrictions. These regulations can limit the growth of the market and create barriers to entry for new players.
Maintenance and Repairs
Electric kick scooters require regular maintenance and repairs, which can be costly and time-consuming. The batteries and motors can degrade over time, reducing the performance and lifespan of the scooters. Companies must invest in maintenance and repair infrastructure to ensure the longevity of their electric kick scooter fleets.
Market Opportunities
Expansion to New Markets
The global electric kick scooter market offers significant opportunities for expansion into new markets. Developing countries with inadequate public transportation systems and high traffic congestion present an ideal market for electric kick scooters. Companies can leverage their expertise and experience in established markets to expand into new regions.
Partnerships with Public Transit
Partnering with public transit systems is another opportunity for companies in the electric kick scooter market. Integrating electric kick scooters into existing public transit networks can provide a seamless and convenient travel experience for commuters. This can increase the adoption of electric kick scooters and reduce the reliance on cars.
Innovation in Battery Technology
Innovation in battery technology presents an opportunity for companies in the electric kick scooter market. Improvements in battery life, charging time, and energy efficiency can significantly enhance the performance and usability of electric kick scooters. Companies that can develop and implement better battery technology can gain a competitive advantage in the market.
Future Outlook
The global electric kick scooter market is expected to witness significant growth in the coming years. The increasing popularity of electric kick scooters, emergence of sharing services, and technological advancements are driving the growth of the market. However, the market also faces several challenges, such as safety concerns, regulatory issues, and maintenance and repair costs.
Despite these challenges, the market presents significant opportunities for expansion into new markets, partnerships with public transit systems, and innovation in battery technology. As the world becomes increasingly urbanized, electric kick scooters are poised to play an even more significant role in the future of transportation.
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The main goals of report are:
1. To examine and assignment the extent of the international market for the market sector.
2. To Researching the important gamers globally, their SWOT analysis, market value, and market share.
3. To identify, describe, and mission market based totally on type, quit use, and geography.
4. To take a look at the market advantages, challenges, dangers, and constraints in the world's principal regions.
5. To pick out key traits and variables that are advertising or inhibiting market growth.
6. To decide the excessive increase segments in order to have a look at the market potentialities for stakeholders.
7. To consider every submarket fastidiously in phrases of its very own boom sample and market contribution.
8. To know market possessions, agreements, growth, and the introduction of new merchandise as aggressive advances.
9. To strategically discover the essential gamers and completely take a look at their enlargement plans.
Conclusion
The global electric kick scooters market is an emerging and rapidly growing market that offers a convenient and sustainable way to travel short distances. While the market faces several challenges, such as safety concerns and regulatory issues, it also presents significant opportunities for expansion, innovation, and partnerships with public transit systems.
As the world becomes increasingly urbanized, electric kick scooters are likely to play an even more significant role in the future of transportation. Companies that can navigate the challenges and capitalize on the opportunities in this market are well-positioned to succeed in the years to come.
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