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The electric kick scooter market share is expected to increase to USD 1.51 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.23%.
This electric kick scooter market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric kick scooter market segmentations by variant (25V to 50V, less than 25V, and more than 50V) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The electric kick scooter market report also offers information on several market vendors, including ABB Ltd., Ather Energy Pvt. Ltd., Bolzzen, CaliRides LLC, Evolve Skateboards Aus Pty Ltd., Maytech, Mellow Boards GmbH, Nine Co. Ltd., NSK Ltd., QS MOTORS Ltd., Schneider Electric SE, STEL LLC, UBoard India Ltd, Xiaomi Inc., Yuneec International Co. Ltd., and Zero Motorcycles Inc. among others.
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The increasing incentives and subsidies by governments is notably driving the electric kick scooter market growth, although factors such as demand for batteries with long-range, fast charging, and long lifespan may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric kick scooter industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Electric Kick Scooter Market Driver
The increasing incentives and subsidies by governments is one of the factors driving the electric kick scooter market growth. Several countries are now working to curb vehicular emissions by reducing pollution. In view of this, many vehicle manufacturers are working toward introducing EVs in the long run, these vehicles are expected to replace IC engine-based vehicles to reduce greenhouse gas emissions. Moreover, the adoption of EVs, including electric two-wheelers, is strongly supported by governments of several countries through incentives and subsidies. Such initiatives by the government will drive the electric kick scooter market growth during the forecast period.
Key Electric Kick Scooter Market Trend
The increasing popularity of electric kick scooter-sharing services is one of the key electric kick scooter market trends supporting the market growth. Primarily, the growing demand for electric kick scooter-sharing services can be attributed to the increasing traffic congestion and pollution in major cities. However, the operational challenges of electric kick scooters are fewer because shared trips are generally shorter in duration and distance when compared with trips taken through other vehicles. In addition, electric kick scooters have smaller batteries compared with other vehicles. These batteries can be easily changed, thus making them a handy solution for shared rides. Such factors are expected to positively impact the growth of the global electric kick scooter market during the forecast period.
Key Electric Kick Scooter Market Challenge
Demand for batteries with long-range, fast charging, and long lifespan is one of the factors impeding the electric kick scooter market growth. The improvements in the riding range can be made possible by introducing enhancements to the battery technology, which will further increase the production cost of electric scooters, thereby posing a challenge to the adoption of such scooters. In view of this, manufacturers are unable to satisfy their demand. Moreover, as there is no proper infrastructure for charging EVs across various geographic locations, end-users expect long-lasting and fast-charging batteries. These demands would remain a challenge for the growth of the global electric kick scooter market during the forecast period.
This electric kick scooter market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the electric kick scooter market encompasses successful business strategies deployed by the key vendors. The electric kick scooter market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Technavio categorizes the global electric kick scooter market as a part of the global leisure products industry within the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric kick scooter market during the forecast period.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The electric kick scooter market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the electric kick scooter market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market's growth will originate from Europe during the forecast period. Germany, France, and the UK are the key markets for the electric kick scooter market in Europe. Market growth in this region will be faster than the growth of the market in North America.
The rising government initiatives and the formulation of stringent emission laws will facilitate the electric kick scooter market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a negative impact on the regional market. However, the relaxation of lockdown measures from Q4 2020 and the reopening of offline shops are likely to drive the growth of the electric kick scooter market in Europe during the forecast period.
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The electric kick scooter market share growth by the 25v to 50v segment will be significant during the forecast period. 25V to 50V was the major segment of the electric kick scooter market in 2021 and is expected to grow significantly during the forecast period. The major driving factors for the growth of the segment and, in turn, the market in focus include a decline in battery prices, low operating and maintenance costs, subsidies and incentives offered by governments of different countries, and increasing awareness about the need to curb vehicular emissions. Such factors of the 25v to 50v segment will drive the electric kick scooter market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the electric kick scooter market size and actionable market insights on post COVID-19 impact on each segment.
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Electric Kick Scooter Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.23% |
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Market growth 2022-2026 |
$ 1.51 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
9.26 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 42% |
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Key consumer countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Ather Energy Pvt. Ltd., Bolzzen, CaliRides LLC, Evolve Skateboards Aus Pty Ltd., Maytech, Mellow Boards GmbH, Nine Co. Ltd., NSK Ltd., QS MOTORS Ltd., Schneider Electric SE, STEL LLC, UBoard India Ltd, Xiaomi Inc., Yuneec International Co. Ltd., and Zero Motorcycles Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Variant
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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