Electric Kick Scooter Global Market Report 2024

The electric kick scooter market size has grown rapidly in recent years. It will grow from $2.74 billion in 2023 to $3.1 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The expansion observed in the historical period can be ascribed to the provision of last-mile transportation solutions, urbanization, emphasis on environmental sustainability, government initiatives and regulations, and the growing consumer demand for technology-enabled mobility.

The electric kick scooter market size is expected to see rapid growth in the next few years. It will grow to $4.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The anticipated growth in the forecast period can be linked to advancements in design and features, the proliferation of micro-mobility services, ongoing development in infrastructure support, integration with public transportation, and increasing concerns regarding air quality. Key trends expected in the forecast period include the extension of micromobility services, incorporation of smart technologies, improvements in battery technologies, partnerships with ride-hailing services, and a focus on customization and personalization.

The expected upsurge in the popularity of electric vehicles is set to propel the growth of the electric kick scooter market in the future. Electric vehicles (EVs) utilize an electric motor powered by a battery that can be charged externally to facilitate forward movement. Electric kick scooters stand out as a preferred choice among electric scooters due to their safety, practicality, user-friendly nature, and positive environmental impact. For example, in April 2021, the International Energy Agency reported a remarkable global sales increase of over 140% for electric vehicles in the first quarter of 2021 compared to the corresponding period in the previous year. Consequently, the growing popularity of electric vehicles is a key driver for the electric kick scooter market.

The continuous rise in fuel prices is anticipated to drive the growth of the electric kick scooter market in the years to come. Fuel prices refer to the costs at which various types of fuel, including diesel, petrol, natural gas, or other energy sources, are sold to consumers. Elevated gasoline prices create both economic and environmental motivations for individuals to explore alternative modes of transportation, with electric kick scooters emerging as a cost-effective and environmentally responsible choice for short-distance travel in urban areas. For instance, in August 2022, the Bureau of Transportation Statistics reported a 49% increase in conventional motor gasoline prices and a 55% rise in diesel fuel prices between January and June 2022. Thus, the escalating fuel prices serve as a driving factor for the electric kick scooter market.

Technological innovations are a prominent trend gaining traction in the electric kick scooter market. Leading companies in the electric kick scooter market are prioritizing the development of cutting-edge technologies to maintain their competitive positions. In September 2023, NIU, a China-based electric kick scooter company, introduced two groundbreaking carbon fiber scooters, namely the KQi Air X and the KQi Air. These carbon fiber scooters are poised to revolutionize the ultra-light electric scooter market, establishing new industry standards and showcasing NIU's commitment to quality, innovation, and sustainability. The KQi Air X, weighing just 25.8 pounds with a 100% carbon fiber frame, and the KQi Air, weighing 26.2 pounds with a carbon fiber (70%) and magnesium (30%) frame, offer a top speed of 20 mph, a range of 31 miles, and a maximum power of 700 watts. These lightweight scooters promise a fun and efficient riding experience, whether navigating through traffic, exploring the town, or tackling hills with a 20% incline.

Major companies in the electric kick scooter market are strategically partnering to introduce limited-edition electric kick scooters. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For instance, in June 2021, Petronas SRT, a Malaysian-based Grand Prix motorcycle racing team, collaborated with Velocifero, a China-based electric kick scooter manufacturer, to produce a limited edition Mad Air electric kick scooter. The team showcased and utilized prototype scooters at events throughout 2021. The PSRT Velocifero Mad Air electric kick scooter features a convenient folding handlebar design for easy transportation and storage, a powerful 350W electric motor, a removable 36V 10.4Ah battery pack, a digital display panel, front motor, and electronic brakes, along with rear disk brakes.

In March 2022, TIER, a Germany-based shared micro-mobility provider, completed the acquisition of Spin for an undisclosed amount. This strategic move enables TIER to expand its operations into North America, becoming the largest multimodal micro-mobility operator globally in terms of the number of cities and vehicles. With this acquisition, TIER's global presence extends to over 520 towns and communities in 21 countries, boasting a fleet of 300,000 vehicles. Spin, a US-based micro-mobility manufacturer, specializes in electric bikes and scooters.

Major companies operating in the electric kick scooter market report are Accell Group, Trek Bicycle Corporation, Jiangsu Xinri E-Vehicle Co Ltd., Yadea Technology Group Co Ltd., Rad Power Bikes, Govecs AG, Xiaomi Corporation, Segway Inc., Razor USA LLC, Swagtron, Blix Electric Bikes, Dualtron, iconBIT Ltd., Gyroor, E-TWOW Scooters, Globber Scooters, Hiboy, NIU Technologies, Inokim Inc., Apollo Scooters Co., GOTRAX, Levy Electric Scooters, Kaabo, EMOVE, Evercross, Evolv Rides, Fiido, Fluid Freeride, Gpad, Zhejiang Okai Vehicle Co. Ltd.

Europe was the largest region in the electric kick scooter market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric kick scooter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric kick scooter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of electric kick scooters include foldable kick scooters, off-road kick scooters, all-terrain kick scooters, three-wheel kick scooters, and others. A foldable kick scooter is one that can be easily folded for convenience. Battery options encompass sealed lead acid (SLA), lithium-ion (li-ion), and others, with varying voltages such as less than 25v, 25v to 50v, and more than 50v. These scooters find applications in personal use as well as rental services for both kids and adults.

The electric kick scooter market research report is one of a series of new reports that provides electric kick scooter market statistics, including electric kick scooter industry global market size, regional shares, competitors with an electric kick scooter market share, detailed electric kick scooter market segments, market trends and opportunities, and any further data you may need to thrive in the electric kick scooter industry. This electric kick scooter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric kick-scooter market consists of sales of two-wheeled electric scooters, electric mopeds, and seated e-scooter. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.