Electric Kick Scooter Market Size & Share 2024 - 2032
Market Size by Type (Foldable Kick Scooters, Off-Road Kick Scooters, All-Terrain Kick Scooters, Three-Wheel Kick Scooters), by Battery (Sealed Lead Acid (SLA), Li-ion), by Power, by End Use & Forecast.
Report ID: GMI5794
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Published Date: March 2024
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
Electric Kick Scooter Market Size
Electric Kick Scooter Market size was valued at USD 2.9 billion in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032, propelled by increasing acquisitions among leading companies. As major players vie for dominance, acquisitions serve as strategic move to expand product offerings, accessing new technologies, and penetrating emerging markets.
Electric Kick Scooter Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
For instance, in September 2023, Bird Global, a U.S.-based company, acquired the e-bike and e-scooter rental firm Spin for USD19 million. Spin was previously owned by the Berlin-based micro-mobility provider Tier Mobility. Bird claims that the acquisition has positioned it as the largest micro mobility operator in North America.
Acquisitions allow companies to diversify their portfolios by integrating innovative features, such as longer battery life, enhanced safety mechanisms, and smart connectivity. Furthermore, consolidations enable economies of scale in manufacturing and distribution for facilitating cost efficiencies and competitive pricing. This trend of acquisitions not only intensifies competition but also accelerates innovation, ultimately benefiting consumers with a wider range of high-quality electric kick scooters tailored to meet their evolving needs and preferences.
The proliferation of ride-sharing and micro-mobility services is also fueling the demand for electric kick scooters. Companies offering scooter-sharing programs provide users with on-demand access to electric scooters, allowing them to conveniently travel short distances without the hassle of owning a personal vehicle. This accessibility and convenience appeal to a wide range of consumers, including commuters, tourists, and students, further driving the adoption of electric kick scooters as a popular transportation option among ride-sharing service providers.
While the market is experiencing rapid growth, it faces several restraints. Safety concern is a significant barrier, as accidents and injuries related to scooter usage are raising liability issues and public skepticism. Regulatory challenges are also hindering the market expansion, with many cities implementing restrictions on scooter use, including speed limits and designated riding areas. Moreover, infrastructure limitations, such as inadequate charging stations and parking facilities are posing logistical challenges for users and service providers alike.
The lifespan and durability of electric scooters also remains a challenge, as frequent maintenance and repair requirements can deter potential buyers. Addressing these restraints through improved safety measures, regulatory frameworks, infrastructure development, and product durability will be crucial for sustaining the industry growth.
Electric Kick Scooter Market Trends
The rising government incentives aimed at prioritizing sustainable transportation solutions to reduce emissions and congestion will contribute to the market expansion. These incentives include subsidies for purchasing electric scooters, tax credits, and grants for infrastructure development, such as dedicated scooter lanes and charging stations. Additionally, regulatory frameworks are being revised to accommodate and promote electric scooter usage, fostering a favorable environment for market growth.
As a result, manufacturers are witnessing increased demand and service providers are looking at investment opportunities in the electric kick scooter sector, further driving innovations within the industry. To cite an instance, in March 2024, the Maltese government unveiled fresh incentives, offering €150 to individuals interested in acquiring their own personal e-kick scooter, coinciding with the enforcement of the ban on rental e-kick scooters.
Electric Kick Scooter Market Analysis
Based on type, the market is divided into foldable kick scooters, off-road kick scooters, all-terrain kick scooters, three-wheel kick scooters. The All-Terrain Kick Scooters segment accounted for 40% of the market share in 2023. Traditionally associated with urban commuting, electric scooters are now being designed and adapted for off-road and rough terrain use. All-terrain scooters feature enhanced suspension systems, larger wheels with knobby tires, and rugged frames, allowing riders to navigate through various challenging environments such as gravel paths, grassy fields, and uneven terrain.
These versatile scooters appeal to outdoor enthusiasts, adventurers, and recreational riders seeking an exhilarating and eco-friendly means of exploring nature. As the demand for outdoor recreational activities continues to grow, fueled by a desire for adventure and exploration, the demand for all-terrain electric kick scooters is expected to expand rapidly for catering to a diverse range of consumer preferences and riding experiences.
Based on the end-user, the electric kick scooter market is categorized into personal and commercial. The personal electric kick scooters segment is projected to capture 61% market share in 2032. Individuals are increasingly turning to electric kick scooters for their convenience, affordability, and eco-friendliness in short-distance travel. Electric scooters offer a convenient solution for urban commuters looking to navigate congested city streets quickly and efficiently, avoiding traffic jams and parking hassles.
Additionally, they provide a fun and accessible mode of transportation for leisure activities, recreational outings, and exploring local neighborhoods. With advancements in battery technology, lightweight design, and smart connectivity features, electric scooters have become a popular choice for people of all ages seeking an alternative to traditional modes of transportation. As more individuals embrace the benefits of electric scooters for personal use, the demand for these versatile and convenient vehicles continues to grow steadily.
North America electric kick scooter market recorded around 33% in 2023 and is set to cross USD 2.2 billion revenues by 2032. Rapid urbanization, coupled with growing concerns about traffic congestion and environmental sustainability, has propelled the popularity of electric kick scooters as a convenient and eco-friendly mode of transportation.
Additionally, favorable regulatory frameworks in many cities have encouraged the adoption of electric scooters in urban areas. The convenience and affordability offered by these scooters appeal to a wide range of consumers, including commuters, students, and tourists. As awareness of the benefits of electric scooters continues to grow and infrastructure improves to accommodate them, the demand for electric kick scooters in North America is expected to continue its upward trajectory in the coming years.
Electric Kick Scooter Market Share
SEGWAY INC. and Niu International hold a significant market share of over 5% in the electric kick scooter industry. These players are constantly engaging in partnerships, investments initiatives and acquisitions to reinforce their market footprint. Technological upgradations and new product launches are also actively essayed by these firms to cater to the thriving consumer and end-user requirements.
Electric Kick Scooter Market Companies
Major companies operating in the electric kick scooter industry are:
Electric Kick Scooter Industry News
The electric kick scooter market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and shipments (Thousand Unit) from 2018 to 2032, for the following segments:
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Market, By Type
Market, By Battery
Market, By Power
Market, By End-Use
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
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4. Market sizing
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5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Verified data sources
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GMI archive
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