Dublin, Nov. 28, 2024 (GLOBE NEWSWIRE) -- The "Electric Kick Scooter Global Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The electric kick scooter market stands as a crucial segment of the urban mobility landscape, having grown significantly over the past years. The latest findings reveal that the market reached a valuation of nearly $2.97 billion in 2023 and is forecasted to continue its growth trajectory through 2033. This press release offers insights into the segments driving the market, regional growth patterns, and strategies that could be capitalized upon by stakeholders in the industry.
Market Overview
Since 2018, the global electric kick scooter market experienced a robust compound annual growth rate of 13.86%, a trend that is likely to persist. Projections for 2028 suggest a market growth to $5.68 billion, further expanding to $10.37 billion by 2033. Factors such as governmental backing, elevation in fuel costs, increased need for short-range transportation, and innovative advancements have all fueled this market's success.
Segmentation Insights
The market is diversified across various segments, including scooter type, application, battery type, voltage, and end user. Data from 2023 indicates that foldable/regular kick scooters led the market by type, with off-road/all-terrain scooters predicted to experience the fastest growth rate. Application-wise, the personal segment surpassed the rental segment, and similar dominance is expected in the future. In terms of battery types, lithium-ion batteries commanded the market, signifying the importance of energy efficiency and longer-range capabilities. Voltage segmentation shows that scooters ranging from 24V to 48V were prominent among consumers. Additionally, the adult demographic emerged as the primary end-user group, denoting a shift towards eco-friendlier commutes among a mature audience.
Geographical Expansion
North America currently dominates the electric kick scooter market, followed by Asia-Pacific, which, along with Africa, is expected to exhibit significant growth rates. The industry's success in these regions can be attributed to their progressive adoption of sustainable transportation solutions and favorable policy environments. The expansion across such geographies underscores the global shift towards eco-conscious urban mobility.
Competitive Landscape
The market's competitive dynamics illustrate a dispersion with numerous small players vying for market share. This fragmentation suggests ample opportunities for innovations and strategic collaborations to enhance market presence and meet evolving consumer needs effectively.
Future Strategies
To leverage forthcoming opportunities, industry leaders are recommended to focus on technological advancements like artificial intelligence for safety enhancements, innovative high-performance scooters, and strategic partnerships. These approaches may contribute significantly to the advancement and accessibility of electric kick scooters worldwide.
Conclusion
In conclusion, the global electric kick scooter market demonstrates a vibrant and dynamic sector with substantial growth prospects. With increasing environmental awareness, demand for short commutes, and technological improvements, the electric kick scooter market is well-positioned for continued escalation. Stakeholders are encouraged to embrace forward-thinking strategies to harness the potential within this burgeoning market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 318 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $2.97 Billion |
| Forecasted Market Value (USD) by 2031 | $10.37 Billion |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | Global |
Companies Featured
- Xiaomi Corporation
- Niu International
- Lime
- Jiangsu Xinri E-Vehicle Co. Ltd.
- YADEA Technology Group Co. Ltd.
- Bird Rides Inc.
- Okai
- Boosted USA
- Segway Inc.
- GOVECS AG.
- Okinawa Autotech
- Hero Electric
- TAV Systems
- Australian Electric Motor Co.
- Yamaha Motor Co., Ltd.
- EMotorad
- Fujikom Co., Ltd.
- Electric Scooter Company
- SUNRA
- Wuxi Shenyun Technology Development Co., Ltd
- Pure Electric Limited
- Peugeot Motocycles
- ET Bikes.co.uk
- Zosh
- Red Electric
- emco electro scooters GmbH
- Velobike
- Lapierre
- Narbonne Loisirs
- ZID motorcycles
- Česká zbrojovka (ČZ a.s.)
- Crussis
- CSC Motorcycles
- X-OTO
- Aventon
- Blix
- Trek
- Vectrix Corporation
- Currie Technologies Inc
- Voltz
- Creditas
- Grin
- Careem
- Eveons Mobility LLC
- Zoom Electric Scooters
- EMX motors LLC
- Raya Auto
- Little App
- Go Electric SA
- KIRI EV
- Bajaj
- Skurtt Scooters LLC
For more information about this report visit https://www.researchandmarkets.com/r/lvv186
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