Electric Kick Scooter Market to Scale New Heights as Market Players Focus on Innovations 2028

The global electric kick scooter market is driven by shared mobility services, EV popularity, environmental benefits, and supportive government regulations.

WILMINGTON, DE, UNITED STATES, October 23, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global electric kick scooter market size was pegged at $2.10 billion in 2020 and is estimated to hit $4.52 billion by 2028, registering a CAGR of 12.2% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Rise in deployment of kick scooters for shared mobility services, the growing popularity of electric vehicles, rising awareness regarding the environmental advantages of electric kick scooters, and positive government regulations to encourage the use of electric kick scooters drive the global electric kick scooter market.

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On the other hand, high maintenance & manufacturing cost and ban on use of e-kick scooter in major cities across the world impede the growth to some extent. However, surge in R&D investments for enhanced battery technologies is expected to create lucrative opportunities for the key players in the industry.

COVID-19 scenario-

1. People across the world have started choosing electric kick scooter services to cover medium to short distances considering the essential health safety measures during the pandemic. This, in turn, has increased the use of electric kick scooters among individuals.

2. This drift is most likely to continue post-pandemic as well.

The global electric kick scooter market is analyzed across battery type, voltage, and region. Based on battery type, the lithium Ion (Li-Ion) segment accounted for more than four-fifths of the total market share in 2020 and is expected to lead the trail by 2028. The same segment would also exhibit the fastest CAGR by 12.6% during the forecast period.

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Based on voltage, the 25V to 50V segment contributed to more than three-fifths of the total market revenue in 2020 and is projected to rule the roost by the end of 2028. The more than 50V segment, on the other hand, would cite the fastest CAGR of 14.6% from 2021 to 2028.

Based on region, Europe held the major share in 2020, garnering more than one-third of the global market. Simultaneously, the market across LAMEA would exhibit the fastest of 15.4% throughout the forecast period. The other regions studied in the report include North America and Asia-Pacific.

The key market players analyzed in the global electric kick scooter market report include Jiangsu Xinri E-Vehicle Co., Ltd., YADEA Technology Group Co., Ltd., GOVECS AG, Niu International, Ninebot (Segway Inc.), Ningbo MYWAY Intelligent Technology Co., Ltd. (Inokim), Razor USA LLC, SWAGTRON, Xiaomi, and iconBIT. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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