Overview of the Report
· The global market for electric kick scooters was valued at USD 2.5 billion in 2020, and it is predicted to increase at a CAGR of 10.3 percent from 2021 to 2028. In recent years, kick scooters have developed as a cost-effective urban commute choice.
· This is due to the sleek style and ease of usage that they provide. Over the projected period, rapid advances in the electric scooter sharing industry will likely provide growth possibilities for the kick scooters market.
· Kick scooter adoption has increased significantly in recent years in France, Spain, Germany, and the United States, and this trend is projected to continue in the coming years. In addition, electric scooter sharing startups cooperate with leading manufacturers to broaden their client base and improve their product offers. Electric scooter sharing services are predicted to expand in popularity because of their low cost, lack of parking space requirements, increased focus on environmentally friendly transportation options, and simplicity of use in congested areas.
· In 2020, the COVID-19 epidemic will have a detrimental impact on the overall micro-mobility industry. Due to lackluster demand, several electric scooter businesses, including Bird and Lime, have laid off personnel. Nonetheless, these are only temporary effects of the epidemic, and the micro-mobility industry is anticipated to rebound soon. Furthermore, due to increased demand for post-COVID-19 and favorable government regulations, the market is likely to profit from increased demand for more environmentally friendly and hassle-free transportation solutions.
· Increasing carbon emissions from fuel-based cars have been a major source of concern for governments worldwide. Electric kick scooters are a feasible, environmentally responsible option for short-distance journeys, and they are expected to expand in popularity over the next few years.
· The market places varied demands on producers based on how consumers view electric kick scooters around the world. While consumers in Latin America, the Middle East, Africa, and the Asia Pacific regard electric kick scooters as a mode of short-distance transportation, North America and Europe regard them as more lifestyle choices. To keep customers, vendors emphasize features like longevity, low maintenance costs, and high performance. As a result, providers concentrate on releasing technologically superior automobiles that consider design/style, range, and speed parameters.
· Xiaomi, for example, released the Mi Electric Scooter 1S in April 2020 and made it available on China’s e-commerce platforms with international shipping possibilities. The scooter has a range of 30 kilometers and a top speed of 25 kilometers per hour on a full charge.
Perspectives on Batteries
· In 2020, the lithium-ion battery category dominated the market, accounting for more than 60.0 percent of total sales. Li-Ion batteries are predicted to overtake sealed lead-acid batteries as the global standard battery technology for electric kick scooters in the next few years due to their superior performance and environmental benefits. Furthermore, lead contamination during production and disposal is a concern with sealed lead-acid batteries. As a result, manufacturers favor Li-Ion batteries for electric kick scooters over sealed lead-acid batteries.
· Continuous advancements in battery technology have enabled Li-Ion batteries to enhance their storage capacity while also lowering their overall cost, making them a popular choice for mobile, low-cost equipment like kick scooters.
· Longer battery discharge cycles, a high current density, a long usable lifespan, and consistent thermal stability are expected to help the segment flourish. Furthermore, when compared to sealed lead-acid batteries, Li-Ion batteries with digital battery management offer faster charging times and a longer battery lifecycle.
Insights into Voltage
· In 2020, the 36V category led the market, accounting for more than 55.0 percent of total revenue. 36V batteries are popular because of their capacity, which extends the range of the E-scooter. Because this voltage range necessitates a compact design and faster charging time, 36V batteries use NiMH or Li-ion technology.
· In comparison to sealed lead-acid batteries, Li-ion batteries are environmentally benign due to their design and charge time needs.
· The expansion of the regional market is related to many OEMs in China, such as SEGWAY INC., Xiaomi, Jiangsu Xinri E-Vehicle Co. Ltd., and YADEA Technology Group Co., Ltd., which accounted for over 70.0 percent of revenue in 2020.
These businesses make the majority of their money by selling their scooters to electric scooter-sharing service providers worldwide. Several governments, including China, Japan, and India, establish legislation and standards for vehicle charging infrastructure, which is projected to boost regional growth prospects over the forecast period.