Press release
Worldwide Trends Overview: The Rapid Development of the Electric Kick Scooter Market
The electric kick scooter market is positioned for significant expansion as urban mobility solutions gain traction worldwide. Driven by technological advancements and growing environmental concerns, this sector is rapidly evolving to meet the demands of modern commuters and recreational users alike. Below, we explore the market's size, major players, key trends, and segmentation that shape its future outlook.Forecasted Growth Trajectory for the Electric Kick Scooter Market Size Through 2030
The electric kick scooter market is anticipated to experience swift growth over the coming years, reaching a valuation of $6.92 billion by 2030. This represents a compound annual growth rate (CAGR) of 13.1%. Factors propelling this surge include the implementation of smart city projects, stricter emission reduction goals, expansion of rental scooter fleets, advancements in battery technology, and the adoption of connected mobility solutions. Prominent trends expected to influence the market during this period encompass the rise of urban micro-mobility, growth in shared scooter services, increasing demand for lightweight and foldable designs, the use of higher-capacity batteries, and the integration of smart connectivity features.
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Top Companies Leading the Electric Kick Scooter Market Today
Several key players dominate the current electric kick scooter market landscape. These include Xiaomi Corporation, Segway Inc., Razor USA LLC, Swagtron, Dualtron, E-TWOW Scooters, Globber Scooters, Hiboy, NIU Technologies, Inokim Inc., Apollo Scooters Co., GOTRAX, Levy Electric Scooters, Kaabo, EMOVE, Evercross, Evolv Rides, Fluid Freeride, Zhejiang Okai Vehicle Co. Ltd., YADEA Technology Group Co Ltd., Jiangsu Xinri E-Vehicle Co Ltd., Govecs AG, iconBIT Ltd., Gyroor, and Gpad.
In a notable development from September 2023, US-based urban micromobility company Bird Global Inc. acquired Spin for $19 million. This strategic acquisition aims to enlarge Bird's operational reach and fleet size across North America, bolstering its market share, improving operational efficiencies, and reinforcing its leadership in the electric kick scooter segment. Spin, also based in the US, specializes in designing and manufacturing electric kick scooters, making this partnership a significant step toward strengthening Bird's competitive position.
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Innovations and Technological Trends Driving Electric Kick Scooter Market Expansion
Market leaders are concentrating on cutting-edge technologies to boost performance, durability, and user experience, helping them maintain a competitive advantage. Efforts focus on incorporating ultra-lightweight materials, efficient motors, and sophisticated battery systems, which enhance speed, range, and portability. For example, in September 2023, NIU, a Chinese electric kick scooter manufacturer, launched two groundbreaking carbon-fiber models: the KQi Air X and the KQi Air. These scooters aim to redefine the ultra-lightweight electric scooter segment while highlighting NIU's dedication to innovation and sustainability. The KQi Air X weighs just 25.8 pounds with a full carbon-fiber frame, whereas the KQi Air comes in at 26.2 pounds with a composition of 70% carbon fiber and 30% magnesium. Both models offer a top speed of 20 mph, a range of 31 miles, and a peak output of 700 watts, catering to commuters navigating city traffic, urban terrain, or steep hills with up to a 20% incline.
Electric Kick Scooter Market Segmentation Overview
The analysis of the electric kick scooter market breaks down into several key segments:
1) Type: Foldable Kick Scooters and Three-Wheel Kick Scooters
2) Battery Type: Sealed Lead Acid (SLA), Lithium Ion (Li-Ion), and Other Battery Types
3) Voltage Range: Less Than 25V and 25V to 50V
4) Application: Personal Use and Rental Services
5) End User: Kids and Adults
Further subcategories include:
- Foldable Kick Scooters subdivided into Compact Foldable Scooters and Lightweight Foldable Scooters
- Three-Wheel Kick Scooters divided into Adult Three-Wheel Scooters and Kids Three-Wheel Scooters
This detailed segmentation provides a clear framework for understanding the diverse product offerings and target markets within the electric kick scooter industry.
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