Propelled by Rising Demand for Sustainable Transport Alternatives, Electric Kick Scooter Market to attain US$ 6.5 Bn in 2031. The North America electrical kick scooters market is set to register 11% CAGR by way of the tip of 2031
NEWARK, Del., Aug. 3, 2022 /PRNewswire/ — The international electrical kick scooter market is anticipated to attain US$ 6.5 Bn in 2031, exhibiting a stellar CAGR of 11.5% for the evaluation interval of 2021 to 2031. The electrical kick scooter market is possible to be dominated by key market gamers, with the highest ten companies available in the market accounting for over 30.5% of the market share. The progress as witnessed by the sector is possible due to advantages like discount in carbon footprints, comfort, and ease of commute afforded by way of an electrical kick scooter.
Electric kick scooters are a handy, simple, and eco-friendly mode of commute. Rising urbanization coupled with a heightened emphasis on sustainability is anticipated to gas gross sales of electrical kick scooters available in the market. There is a substantial rise within the demand for these autos all around the world however particularly in massive cities the place visitors congestion is comparatively excessive.
Furthermore, electrical kick scooters emit zero carbon emissions, making them a largely most well-liked various to standard two-wheelers and passenger automobiles. All these elements are anticipated to foster a constructive financial market atmosphere for electrical kick scooters.
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Moreover, producers are eager on introducing function upgrades in electrical kick scooters akin to ultra-bright headlights, a double-braking system with anti-lock braking in addition to simple folding options. Other options of the automobile like the usage of each air-filled and airless tires improve the standard of the journey and supply superior traction. These options of the electrical kick scooter are possible to increase progress available in the market.
“Rising adoption of sustainable transport alternatives along with the added advantage of convenience will likely boost the sales of electric kick scooters in the global market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Convenient and eco-friendly function of electrical kick scooter to enhance market prospects.
- Australia & New Zealand account for over 26% of gross sales in South Asia and Pacific nations.
- Demand for electrical kick scooters within the U.S. is anticipated to exceed 11.2% CAGR.
- Electric kick scooter market in Germany is predicted to account for 23.3% of market share in Europe.
- South Africa will possible current profitable market alternatives over the forecast interval.
- China is anticipated to exhibit a CAGR of 12% over the evaluation interval.
- By product sort, the two-wheeled phase is anticipated to lead market progress.
- By battery sort, lithium-ion batteries to dominate the market over the forecast interval.
Competitive Landscape
- Micro Mobility Systems AG,
- Golabs Inc.,
- Bird Rides Inc.,
- Segway Inc.,
- IconBIT Limited,
- GOVECS AG,
- Razor LLC,
- Xiaomi Corporation,
- YADEA Technology Group Co. Ltd,
- AKTIVO Scooter,
- VOI Technology,
- Spin, SWAGTRON, and
- Niu International
amongst others are a number of the main gamers within the electrical kick scooter market which can be profiled within the full model of the report.
Major electrical kick scooter market gamers are centered on product growth and innovation. These companies purpose to present an extended battery life together with different function upgradation like regenerative braking system which can add to automobile security. Manufacturers are additionally partaking in strategic ways like partnerships and collaborations to lengthen their enterprise and international presence.
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More Insights into the Electric Kick Scooters Market Report
In its newest report, FMI affords an unbiased evaluation of the worldwide electrical kick scooter market, offering historic knowledge from 2016 to 2020 and forecast statistics for the interval 2021 to 2031. To perceive the worldwide market potential, progress, and scope, the market is segmented based mostly on product sort (two-wheeled, three-wheeled), battery sort (lead based mostly, nickel based mostly, lithium ion) worth vary (beneath US$ 200, US$ 200-375, US$ 375.1-750, US$750.1-1,100, above US$ 1,100) wheel dimension (<8″, 8-8.5″, 9-9.5″, 10-10.5″, >11″), finish use (private, rental/ sharing, regulation enforcement), and area.
According to the newest FMI reviews, based mostly on regional progress, Australia & New Zealand are anticipated to proceed market domination throughout the forecast interval. This area is anticipated to maintain over 26% of the gross sales within the South Asia & Pacific nations. Market gamers working on this area are concentrating on offering inexpensive electrical kick scooters with glossy designs.
Many electrical kick scooter corporations like Ofo, Reddy Go and Lime provide rental electrical kick scooters. Key producers are wanting into this market as a lovely market gross sales alternative as these nations are extremely appropriate for electrical mobility when it comes to infrastructure and superior applied sciences for these autos.
Demand for electrical kick scooter within the U.S. market is anticipated to develop at practically 11.2% CAGR over the evaluation interval. With the immense presence of assorted kick scooter producers, the U.S. market has elevated variety of journey sharing providers. The variety of automobile possession of kick scooters has additionally elevated within the U.S. This has induced the federal government to implement tips when it comes to velocity limits for electrical scooters all through the nation.
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Market producers within the U.S. are concentrating on analysis and growth actions to create new micro mobility choices for the worldwide market. The progress within the adoption of electrical kick scooters within the U.S. market will possible gas the gross sales of electrical kick scooters within the subsequent ten years.
In Europe, Germany accounted for practically 23.3% of the market share in 2021. Growing consciousness about atmosphere conservation and rising issues about carbon emissions are anticipated to gas market progress on this area. The authorities in Germany is additionally inviting the usage of electrical kick scooters to cut back visitors congestion in addition to the nation’s carbon footprint. Consumers in Germany are attracted in the direction of electrical kick scooters as they’re enjoyable, present a brand new expertise, and assist keep away from visitors congestion. The electrical kick scooter market in Germany is anticipated to increase funded by the rise in electrical share mobility on this area.
South Africa is anticipated to register excessive progress charges within the Middle East & Africa. Several companies are opening up to rental electrical kick scooters service on this area. Product releases undertaken by these corporations may have a major affect on kick scooter gross sales in South Africa.
China is the biggest producer and exporter of electrical kick scooters in East Asia. The nation is projected to exhibit a stellar CAGR of over 12% throughout the evaluation interval. China based mostly manufacturing corporations akin to Niu Technologies have launched several types of kick scooters to increase their product portfolio.
Market producers are concentrating on bettering their manufacturing capability for inexpensive electrical mobility options to enhance their gross sales. Manufacturers are additionally leveraging e-commerce platforms to promote electrical kick scooters and alternative elements to additional improve the gross sales prospects. Moreover, producers in China are partnering and collaborating with electrical kick scooter corporations in different areas to enhance their international presence.
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According to the newest reviews by FMI, based mostly on product sort, two wheeled electrical kick scooters are the main class within the international market. Two wheeled electrical kick scooters are gaining prominence in nations such because the U.S., China, and Germany owing to advancing environmental issues and related technological developments. These autos are foldable, moveable, and cut back visitors congestion, too.
Rental two wheeled electrical kick scooters can be found to be used by way of cellular apps in lots of central areas which is additional accelerating the marketplace for two wheeled electrical kick scooters.
By battery sort, lithium-ion batteries are being extensively built-in to electrical kick scooters. These batteries have excessive power density as compared to lead acid batteries. Furthermore, lithium-ion batteries in electrical kick scooters don’t require frequent upkeep and has a charging capability of up to 70W with minimal charging time. High effectivity and resistance to excessive temperature in addition to sturdiness and excessive storage capability promote this phase’s progress by way of 2031.
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