Press release
Electric Kick Scooter Market Size to Reach $6.13 Billion by 2029 | Growth at 13.2% CAGR Forecast
Electric Kick Scooter Market
What is the Projected Market Size of the Electric Kick Scooter Industry?
There has been a fast-paced expansion in the electric kick scooter market size over the past few years. The market is projected to increase from $3.33 billion in 2024 to $3.73 billion in 2025, boasting a compound annual growth rate (CAGR) of 12.3%. Factors such as last-mile transportation solution, urbanization, environmental sustainability, government policies, and consumer interest in technology-driven mobility are behind the growth experienced during the historical period.
What Will Be the Size of the Electric Kick Scooter Market by 2029?
Anticipations show a quick expansion of the electric kick scooter market over the forthcoming years. It's predicted to reach a value of $6.13 billion by 2029, with a compound annual growth rate (CAGR) of 13.2%. This growth in the estimated timeline can be credited to advancements in design and features, the proliferation of micro-mobility services, the development of supportive infrastructure, incorporation within public transport systems, and escalating worries about air quality. Key trends for the forecasted period encompass the spread of micro-mobility services, the inclusion of smart technologies, advancements in battery technologies, partnerships with ride-hailing services, and enhancing customization and personalization options.
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What Are the Key Drivers Accelerating Growth in the Electric Kick Scooter Market?
The escalating demand for electric vehicles is predicted to spur expansion in the electric kick scooter industry ahead. An electric vehicle (EV) is essentially a transport device that propels with the help of an electric motor powered by a rechargeable battery. Electric kick scooters are getting more recognition over their counterparts due to their safety, practicality, ease of use, and eco-friendliness. For instance, data from the International Energy Agency, an international organization based in France, showed that in 2022 more than 10 million electric cars were purchased worldwide. They anticipate an increase of 35% in sales this year, amounting to around 14 million. While the internal combustion engine has reigned supreme for over a hundred years, the advent of electric vehicles is transforming this scenario. By 2030, they are projected to reduce the necessity for at least 5 million barrels of oil on a daily basis. Consequently, this rising trend in electric vehicles is fueling the advancement of the electric kick-scooter market.
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How Is the Electric Kick Scooter Market Segmented by Type, Application, and Region?
The electric kick scooter market covered in this report is segmented -
1) By Type: Foldable Kick Scooters, Off-Road Kick Scooters, All-Terrain Kick Scooters, Three-Wheel Kick Scooters, Other Types
2) By Battery Type: Sealed Lead Acid (SLA), Lithium Ion (Li-Ion), Other Battery Types
3) By Voltage: Less Than 25V, 25V To 50V, More Than 50V
4) By Application: Personal, Rental
5) By End User: Kids, Adults
Subsegments:
1) By Foldable Kick Scooters: Compact Foldable Scooters, Lightweight Foldable Scooters
2) By Off-Road Kick Scooters: Heavy-Duty Off-Road Scooters, Mid-Range Off-Road Scooters
3) By All-Terrain Kick Scooters: All-Terrain Electric Scooters With Suspension, All-Terrain Scooters For Urban Use
4) By Three-Wheel Kick Scooters: Adult Three-Wheel Scooters, Kids Three-Wheel Scooters
5) By Other Types: High-Speed Electric Scooters, Luxury Electric Scooters, Electric Scooters With Seats
What Are the Key Trends Driving Growth in the Electric Kick Scooter Market?
Technological advancements are becoming increasingly prevalent and are the leading trend in the electric kick scooter industry. Mainstream businesses in this sector are prioritizing the development of novel technologies to maintain their market share. In September 2023, NIU, an electric kick scooter enterprise based in China, introduced two distinct and technologically advanced carbon fiber scooters - the KQi Air X and the KQi Air. These groundbreaking carbon fiber scooters are set to reshape the ultra-light electric scooter sector, defining new industry standards and exhibiting NIU's commitment to quality, invention, and sustainability. The KQi Air X, with a complete carbon fiber frame, only weighs 25.8 pounds while the KQi Air has a frame composed of 70% carbon fiber and 30% magnesium and weighs 26.2 pounds. Capable of reaching speeds of 20 mph and a range of 31 miles with a maximum power of 700 watts, these lightweight scooters offer an enjoyable and effective commute, whether weaving through congested traffic, cruising around town, or ascending 20% inclines.
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Who Are the Leading Companies Driving Growth in the Electric Kick Scooter Market?
Major companies operating in the electric kick scooter market include Accell Group, Trek Bicycle Corporation, Jiangsu Xinri E-Vehicle Co Ltd., YADEA Technology Group Co Ltd., Rad Power Bikes, Govecs AG, Xiaomi Corporation, Segway Inc., Razor USA LLC, Swagtron, Blix Electric Bikes, Dualtron, iconBIT Ltd., Gyroor, E-TWOW Scooters, Globber Scooters, Hiboy, NIU Technologies, Inokim Inc., Apollo Scooters Co., GOTRAX, Levy Electric Scooters, Kaabo, EMOVE, Evercross, Evolv Rides, Fiido, Fluid Freeride, Gpad, Zhejiang Okai Vehicle Co. Ltd.
Which Is the Leading Region in the Global Electric Kick Scooter Market?
Europe was the largest region in the electric kick scooter market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric kick scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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