Electric Kick Scooters Market: Current Analysis and Forecast (2022-2028)

Electric Kick Scooters Market: Current Analysis and Forecast (2022-2028)

The global Electric Kick Scooters Market is expected to grow at a significant rate of around 11% during the forecast period. An electric kick scooter also called a motorized scooter is a stand-up scooter controlled by an incorporated electric motor drive mechanism and battery. The power is stored on board in a rechargeable battery, which drives the electric engines. Moreover, the demand for electric vehicles is growing due to the increasing demand for low emissions followed by the rapidly expanding automotive industry would positively stimulate the industry landscape. For instance, Chinese consumer electronics giant Xiaomi recently introduced a new version of its electric scooter which it states is the most powerful yet. In addition, Xiaomi Electric Scooter 4 Pro features a 700W rated motor capable of 25 km/h max speed. With a 12,400 mAh capacity, it’s capable of a riding range of up to 45 km per charge and is capable of climbing up to 20% inclines.

These scooters help to handle traffic problems, attributable to the smaller size, higher speed, and gain from the advantages of medical benefits. Factors such as the deployment of kick scooters for shared mobility services, a surge in popularity of electric vehicles, and rise in awareness regarding the environmental advantages of an electric kick scooter, and positive government regulations to encourage the use of electric kick scooters are expected to drive the market growth. These factors lead to an increase in the demand for electric kick bikes across the globe.

YADEA Technology Group Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., GOTRAX, Bird Rides Inc., SWAGTRON, SEGWAY INC., Xiaomi, iconBIT GmbH, Zhejiang Okai Vehicles Co. Ltd., GOVECS AG. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst battery type, lithium-ion category to witness significant growth during the forecast period”

Based on battery type, the market is segmented into sealed lead acid, nickel metal hydride, and lithium-ion. Among these, the lithium-ion battery category grabbed a significant amount of market share and is expected to grow at a robust growth rate during the forecast period. Moreover, lightweight, high-energy density, low maintenance, more charge cycles, and low self-discharging are some of the major reasons for the growth of this segment. The use of lithium-ion batteries has grown significantly in recent years. They offer some major advantages over other forms of battery technology including nickel-metal hydride and lead-acid batteries. Additionally, electrodes commonly used in lithium-ion batteries, lithium, and carbon, are lightweight on their own, making for much smaller and lighter batteries than other types of batteries.
"Amongst voltage, the 36V category to witness significant growth during the forecast period”

On the basis of voltage, the market is categorized into below 24V, 36V, 48V, and greater than 48V. Among these, the 36V holds a significant share in the market during the forecast period. This is mainly due to their capability, which increases the driving span of the E-scooter, 36V batteries are admired. Since this range of voltage requires a compact design along with an enhanced charging time, 36V batteries make use of Li-ion or NiMH technology. That will be expected to drive market growth at an exponential rate during the forecast period. Moreover, the rapid advancements in the quality of automobiles, rising vehicle manufacturing, and the increasing incorporation of technologically advanced components in the electrical vehicle industry. For instance, in February 2020, TIER Mobility, a German-based micro-mobility solution provider, acquired a fleet of 5,000 electric mopeds and the charging infrastructure from Coup Mobility to enter the European e-moped sharing market.
"APAC to hold the fastest growth rate in the market”

APAC grabbed the leading market share of the global Electric Kick Scooters Market during the forecast period. This is mainly attributed to the increasing recreational expenditure and the rising demand for electrical vehicles globally. The infrastructural growth is increasing the demand for electrical vehicles in the region and the Paris act, COP 26, and other environmental policies lead to increasing investments in the electric vehicles industry. Moreover, major economies are increasing their investments in the electric electrical vehicles industry as they are trying to meet their carbon emission targets quickly. Furthermore, China announced its commitment to reach carbon neutrality before 2060 while being the major producer of several agricultural products, and one of the major exporters of critical minerals such as ferroalloys, manganese, tungsten, and other minerals. Thereby increasing demand for electric vehicles in the region. Moreover, the rising penetration of parts manufacturers, and low cost of production, will further boost the electric kick scooters market growth rate during the forecast period.

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