Electric Kick Scooters Market Size, Industry Analysis Report By Battery type (sealed lead acid (SLA), Lithium Ion (Li-Ion)), By Voltage (less than 25V, 25 V to 50 V) & Region – Forecasts By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 270
- CATEGORY
- Automotive & Transportation
Electric Kick Scooters Market is presently worth USD 2.77 billion and is poised to amplify at a CAGR of 11.21% over 2022-2030, thereby amassing a valuation of USD 5.43 billion by end of the assessment timeline.
The popularity of easy commutes and the electric kick scooter's convenience are major sales drivers. In addition, a greater emphasis on environmentally friendly modes of transportation will ensure rising sales in the upcoming years.
Electric kick scooters are regarded as a hassle-free means of transportation, particularly in large cities with heavy traffic. As a convenient means of transportation, these vehicles have gradually begun to displace other vehicles.
Manufacturers are incorporating cutting-edge technologies into their electric kick scooters, such as super-bright headlights that increase safety while riding at night, double braking systems with regenerative anti-lock braking, and simple folding mechanisms.
Electric kick scooters are the kind of electric-powered vehicles that require electricity to charge. They can provide power to one or more electric motors and are rechargeable batteries.
Electric Kick Scooters Market - Key Trends
Growing popularity of electric vehicles will drive the market expansion
The market for electric kick scooters is also being greatly influenced by the expanding acceptance of electric automobiles and more knowledge of the environmental benefits of these vehicles.
Growth of the electric kick scooters market will help the market growth
However, there are some restrictions on the market for electric kick scooters that could prevent its potential growth. These restrictions include the high cost of manufacturing and maintaining the electric scooters, while the absence of clear operating instructions for kick scooters could pose a threat to the market's expansion during the aforementioned forecast period.
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
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.
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.
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)
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Electric Kick Scooters Market is presently worth USD 2.77 billion and is poised to amplify at a CAGR of 11.21% over 2022-2030, thereby amassing a valuation of USD 5.43 billion by end of the assessment timeline.
What are the drivers shaping various markets?
Growing popularity of electric vehicles will drive the market expansion: -The market for electric kick scooters is also being greatly influenced by the expanding acceptance of electric automobiles and more knowledge of the environmental benefits of these vehicles. Another factor boosting the market expansion for electric kick scooters is the rising use of sharing services and technological advancements in the creation of solar-powered electric cars.
Who are the key competitors of market Players?
Some of the major players operating within the market 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.
What are the top performing segments, and countries / regions of each of the markets?
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.
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