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

Report Description

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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global electric kick scooters market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Electric Kick Scooters Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global electric kick scooters market were the three major steps undertaken to create and analyze the adoption of electric kick scooters markets in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electric kick scooters market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the electric kick scooters market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the electric kick scooters market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as battery type and voltage. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electric kick scooters market. Further, we conducted factor analysis using dependent and independent variables such as various battery type and voltages of electric kick scooters markets. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electric kick scooters market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electric kick scooters market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the electric kick scooters market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global electric kick scooters market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electric kick scooters market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of battery type and voltage in the global electric kick scooters market.

The main objective of the Global Electric Kick Scooters Market Study

The current & future market trends of the global electric kick scooters market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the electric kick scooters market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of battery type and voltage.
• Define and analysis of the regulatory framework for the electric kick scooters market
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the electric kick scooters market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the electric kick scooters market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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