Electric Kick Scooters Market Size, Share & Trends Analysis Report By Battery (Sealed Lead Acid, NiMH, Li-Ion), By Voltage (Below 24V, 36V, 48V, Greater Than 48V), By Region (North America, Europe, APAC, LATAM, MEA)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Electric Kick Scooters market gathered revenue around USD 2.10 Billion in 2020 and market is set to grow USD 4.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 9.45% during the prediction period 2021 to 2027.

Growth Factors:

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 they offer. Rapid developments in the electric scooter sharing industry are also expected to generate growth opportunities for the kick scooters market over the forecast period.

The growth of the market is attributed to the increasing penetration of cost-effective electric scooter sharing services across the globe.

While the market is expected to witness promising growth opportunities in the long run, the COVID-19 pandemic is likely to negatively impact the market. Strict restrictions on transportation activities and lockdowns in the first half of 2020 paralyzed electric kick scooter retail business activities across the globe. While manufacturing and supply chain activities were severely disrupted, the situation was particularly challenging for the manufacturers and dealers of electric kick scooters. In the near future, however, the fear of public transportation could motivate consumers to seek alternate modes of transportation, thereby driving the market. The pandemic is expected to be an accelerator for the transition to sustainable mobility.

The need for product differentiation and the introduction of next-generation technology is anticipated to favor market growth. One of the key factors expected to boost demand for the two-wheeler is the shrinking parking spaces in metro cities. In recent times, these two-wheelers have gained prominence in countries such as the U.S., Germany, France, and Spain. The growing need to avoid traffic congestions and increased demand for micro-mobility options have encouraged vendors to manufacture folding electric scooters. These two-wheelers offer flexibility with minimum energy consumption and can be easily folded to the size of a suitcase.

An increase in greenhouse gas emissions has resulted in initiatives to combat climate change with hopes pinned on e-mobility. Several countries globally have started enacting climate change action plans to reduce vehicular emissions by adopting sustainable and eco-friendly transportation options. Furthermore, investments in clean energy and initiatives that are taken by governments to curb CO2 emissions are expected to boost the demand for electric scooters over the coming years.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Electric Kick Scooters market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Electric Kick Scooters market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 4.9 Billion by 2027
Growth Rate CAGR of 9.45% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Battery, voltage and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Jiangsu Xinri E-Vehicle Co. Ltd.; YADEA Technology Group Co., Ltd.; Bird Rides, Inc.; SWAGTRON; SEGWAY INC.; Xiaomi; iconBIT GmbH

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Electric Kick Scooters market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Segments analysis:

By Battery analysis:

The lithium-ion battery segment dominated the market and accounted for over 60.0% of the overall revenue share in 2020. Performance and environmental advantages of Li-Ion batteries over sealed lead acid batteries are expected to position Li-Ion technology as the global mainstream battery technology for electric kick scooters over the coming years. Moreover, sealed lead-acid batteries involve the risk of lead contamination during manufacturing and disposal. As a result, manufacturers prefer Li-Ion batteries over sealed lead-acid batteries for electric kick scooters.

 

Continual improvements in battery technology have helped improve the storage capacity and reduce the overall cost of Li-Ion batteries, making them a popular choice for mobile, low-cost devices such as kick scooters.

By Voltage analysis:

The 36V segment dominated the market and accounted for the largest revenue share of more than 55.0% in 2020. 36V batteries are popular owing to their capacity, which enhances the E-scooter's driving range. 36V batteries utilize NiMH or Li-ion technology as this voltage range calls for a compact design and enhanced charging time. In addition to the design and charge time requirements, Li-ion batteries are eco-friendly in comparison to sealed lead-acid batteries.

Electric kick scooters with voltage greater than 48V offer advantages in terms of range. These kick scooters emit carbon dioxide at acceptable cost levels. Furthermore, 48V products provide features such as air conditioning compressors and turbochargers, which are difficult to implement in 12V or 24V scooters.

Regional analysis:

Asia Pacific dominated the electric kick scooters market and accounted for the largest revenue share of over 70.2% in 2020. The growth of the regional market is attributed to the presence of several OEMs such as SEGWAY INC., Xiaomi, Jiangsu Xinri E-Vehicle Co. Ltd., and YADEA Technology Group Co., Ltd., in China. These companies generate their major revenue share by selling their scooters to electric scooter sharing service providers worldwide. Governments of several countries, such as China, Japan, and India, are setting regulations and standards for vehicle charging infrastructure, which is expected to have a positive impact on the regional growth prospects over the forecast period.

In North America, the market is expected to emerge as the most lucrative regional market due to the rising demand for eco-friendly travel options and a rapidly developing charging infrastructure. A gradual shift to electric kick scooters for short-range commutes will likely pave the way for wider acceptance over the next 8 years. In addition to consumer awareness and acceptance, the need to reduce carbon footprint, through measures such as replacing the existing fleet of scooters with their electric alternatives, is anticipated to create avenues for the market in the near future.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Electric Kick Scooters Market include:  Jiangsu Xinri E-Vehicle Co. Ltd.; YADEA Technology Group Co., Ltd.; Bird Rides, Inc.; SWAGTRON; SEGWAY INC.; Xiaomi; iconBIT GmbH

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

  • By Battery
    • Sealed Lead Acid (SLA)
    • Nickel Metal Hydride (NiMH)
    • Lithium Ion (Li-Ion)
  • By Voltage
    • Below 24V
    • 36V
    • 48V
    • Greater than 48V

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Electric Kick Scooters market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Electric Kick Scooters market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Electric Kick Scooters markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Electric Kick Scooters Market Study:

  • Growth of Electric Kick Scooters in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Electric Kick Scooters and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Electric Kick Scooters Consumption Analysis
  •  Electric Kick Scooters Production Analysis
  •  Electric Kick Scooters and Management