Global Electric Kick Scooter Market Overview
Notable Industry Updates
On Apr.08, 2022, EMotorad launched an electric kick
scooter and e-cycle to expand its portfolio in India. The company introduced
two new products, Lil E, a new-age electric kick-scooter, and T-Rex+, an
electric cycle. The two new variants join its existing range of e-cycles, T-Rex,
EMX, and Doodle, targeting tech-savvy urban mobility users in the country.
EMotorad holds a vision of making a name for India in the global EV space.
The electric
kick scooter market size is witnessing rapid revenue growth across the globe. Governments'
targets to introduce e-mobility and the wide uptake of these compact,
lightweight vehicles are key driving forces.
Citing the increasing global pressure to
reduce carbon footprints, MRFR expects the global electric kick scooter market
valuation to escalate to USD 5.30 BN by 2030, growing at an 11.01% CAGR from
2022 to 2030.
Electric scooters are garnering huge
popularity, with urbanities increasingly preferring them for short-distance
commutes or neighborhood mobility. With a solid metal-alloy body, functional
suspension mechanism, and 25 kmph top speed with around 20kms range, e-kick
scooters have become an easily scalable clean mobility option. With recent
technological advances, electric kick scooters have become outlandishly
high-tech.
Due to their simplistic design, electric kick
scooters offer the benefit of low maintenance costs. Also, they don't need the
replacement of spark plugs and oil filters. Switching from ICE vehicles to
e-kick scooters enables tackling the largest source of air pollution, reducing
congestion by at least 40%. Resultantly, governments in countries across the
globe have realized the potential that electric vehicles hold.
E-kick scooters have evolved from mere modes
of personal mobility to futuristic devices equipped with Bluetooth smartphone
connectivity, navigation, over-the-air updates, and so on. Although in its
nascent stage, the e-kick scooter market is gaining vast attention. Leading
manufacturers of electric kick scooters, like Luup Inc. (Japan), are also
providing electric kick scooter sharing services in and around major cities.
Electric Kick scooter Market Leaders
Leading market players are Jiangsu Xinri
E-Vehicle Co. Ltd., SWAGTRON, YADEA Technology Group Co., Ltd., SEGWAY Inc.,
Bird Rides, Inc., Xiaomi, GOVECS AG, iconBIT GmbH, Razor USA LLC, and Niu
International, among others.
Key Industry Trends
E-kick scooters have brought micro-mobility
to the center stage and stimulated the personal mobility market. Today, a wide
variety of electric kick scooter models are available in the market. Due to
large technological advancements and policy initiatives, these scooters are
expected to address major barriers to electric mobility. However, a renewed
focus on equity will contribute significantly to making this growth a reality
in the future.
Rapid developments of electric vehicle
infrastructure and charging stations as a part of smart city projects influence
the market value. Following recent revisions in road traffic laws in many
countries to ease restrictions regarding electric kick scooters, the market is
expected to gain a substantial boost. Besides steps taken to prevent traffic
accidents involving them, electric
kick scooter share would rise as a convenient means of transportation.
Additionally, battery technology developments
and declining costs are other major factors bolstering the market demand for
electric kick scooters. Increasing focus on technologically advanced product
development is expected to impact industry growth positively. The operating
cost of an electric kick scooter is relatively lesser, while performance is
excellent compared.
Electric kick scooter manufacturers primarily
focus on improving the on-road riding experience for their customers. They
initiate several strategic approaches, such as collaborations, mergers &
acquisitions, expansions, and product launches. Industry players also invest
strategically in research and development activities and foster their expansion
plans.
Realizing the need for a recreational commute
and electric commuting solutions, the company has taken a holistic view to
introducing Lil E electric kick-scooter to grab the opportunity to enter the
recreational commute space. It has created a very strong base in the Indian
market while expanding to other markets. Constantly improving products with
consumer feedback and conducting market research, EMotorad has made several
improvements to its products.
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