SAN FRANCISCO, Jan. 19, 2021 /PRNewswire/ -- The global electric kick scooters market size is expected to reach USD 5.2 billion by 2028, according to a study conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.3% from 2021 to 2028. The growth of the market is attributed to the increasing penetration of cost-effective electric scooter sharing services across the globe.
Key suggestions from the report:
The Lithium-Ion (Li-Ion) segment dominated the market in 2020 and is expected to reach USD 3.4 billion by 2028
The 36V segment dominated the market in 2020 and is expected to reach USD 2.9 billion by 2028
Asia Pacific is projected to account for the majority market share and is expected to reach USD 3.5 billion by 2028
Read 70 page research report with ToC on "Electric Kick Scooters Market Size, Share & Trends Analysis Report By Battery (Sealed Lead Acid, NiMH, Li-Ion), By Voltage (Below 24V, 36V, 48V, Greater Than 48V), By Region (North America, Europe, APAC, LATAM, MEA), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/electric-kick-scooters-market
While the market is expected to witness promising growth opportunities in the long run, the COVID-19 pandemic is likely to negatively impact the market. Strict restrictions on transportation activities and lockdowns in the first half of 2020 paralyzed electric kick scooter retail business activities across the globe. While manufacturing and supply chain activities were severely disrupted, the situation was particularly challenging for the manufacturers and dealers of electric kick scooters. In the near future, however, the fear of public transportation could motivate consumers to seek alternate modes of transportation, thereby driving the market. The pandemic is expected to be an accelerator for the transition to sustainable mobility.
The need for product differentiation and the introduction of next-generation technology is anticipated to favor market growth. One of the key factors expected to boost demand for the two-wheeler is the shrinking parking spaces in metro cities. In recent times, these two-wheelers have gained prominence in countries such as the U.S., Germany, France, and Spain. The growing need to avoid traffic congestions and increased demand for micro-mobility options have encouraged vendors to manufacture folding electric scooters. These two-wheelers offer flexibility with minimum energy consumption and can be easily folded to the size of a suitcase.
An increase in greenhouse gas emissions has resulted in initiatives to combat climate change with hopes pinned on e-mobility. Several countries globally have started enacting climate change action plans to reduce vehicular emissions by adopting sustainable and eco-friendly transportation options. Furthermore, investments in clean energy and initiatives that are taken by governments to curb CO2 emissions are expected to boost the demand for electric scooters over the coming years.
North America is expected to be the fastest-growing regional market over the next few years. The U.S. is anticipated to emerge as an early adopter of e-scooters due to high technology penetration and developed e-charging infrastructure.
Grand View Research has segmented the global electric kick scooters market on the basis of battery, voltage, and region:
Electric Kick Scooters Battery Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
Electric Kick Scooters Voltage Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
Electric Kick Scooters Regional Outlook (Volume, Units; Revenue, USD Million, 2016 - 2028)
List of Key Players of Electric Kick Scooters Market
Jiangsu Xinri E-Vehicle Co. Ltd.
YADEA Technology Group Co., Ltd.
Bird Rides, Inc.
Find more research reports on Automotive & Transportation Industry, by Grand View Research:
Electric Scooters Market – The global electric scooters market size was estimated at USD 18.6 billion in 2019. The rising need for fuel-efficient vehicles, backed by increasing concerns over carbon and greenhouse gas emissions.
Lithium-ion Battery Market – The global lithium-ion battery market size was valued at USD 32.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 13.0% from 2020 to 2027.
Scooters Market – The global scooters market size was valued at USD 32.5 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 0.1% from 2020 to 2030.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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