Key Market Insights
“Rising traffic congestion and health consciousness among millennia’s will boost the market growth”
The global kick scooter market is growing at a rapid pace, anticipated to grow at a CAGR of 10.5% during the projected period from 2023 to 2030, starting from US$ 618.7 Mn in 2021.
The market is majorly driven by growing traffic congestion, first & last-mile transportation, and health consciousness amidst millennia’s. Rising obesity and overweight concern among kids & adult people will also help in market growth. Growing inclination towards kick scooters for fun & recreational traveling option will also boost the market demand. Surging adoption of kick scooters as a short distance mobility option will enhance the market demand in years to come.
“Rapid technological advancements will enhance market growth”
Rapid technological advancements in the kick scooter industry such as electric kick scooter along with different riding modes and the LED display will enhance the market growth. Using kick scooter for commute have different benefits such as muscle development, less time consuming, helps in fat burning, low maintenance, and others which will help the market growth in years to come. Increased funding by angel investors for kick scooter sharing services startups will also boost the market growth. For instance, in October 2019, Tier Mobility, a Germany-based startup raised funding of US$ 60 Mn for technical advancement & geographical expansion.
End-user Analysis
“Increased adoption among kids will spur the segment growth”
In 2021, the kids' segment dominates the kick scooter market. The aforementioned segment contributed over 55% of the revenue share in the same year. Increased adoption of kick scooters among children is the major factor for the dominance of the segment. Kick scooter has various benefits for kids such as the development of physical confidence, outdoor activity & exercise, development of motor skills, increase muscle power, and others. Hence, the segment will show substantial growth in the years to come.
“Rapid penetration of kick scooters among millennials will enhance the growth of the adult segment”
The adult segment will show the fastest growth during the forecast period. The key factors for the segment's growth are the rapid penetration of kick scooters among youngsters and increased health consciousness amongst people. Rising kick scooter sharing services and technological advancement in the market will also spur segment growth. As a result of the aforementioned factors, we expect that the segment will surpass the kids' segment in the years to come.
Regional Analysis
“Growing health consciousness among adults will surge the North America growth”
North America dominates the kick scooter market in 2021. North America has more than 40% global revenue share in the same year. Rising health consciousness, presence of major players (such as Segway, Inc., Razor LLC, & others) and traffic congestion are the major factors for the region's growth. According to the report of global INRIX traffic scorecard, more than US$ 70 Bn is the cost of traffic congestion in major cities of the U.S. According to WHO report published in February 2018, the obesity rates in the U.S. were 18.5% in youth and more than 39% in adults in 2015-2016. Hence, to avoid traffic congestion and the adoption of a healthy lifestyle will led to the growth in North America.
“Rising adoption of kick scooter will spur the market in the region”
We expect that Europe and Asia Pacific will be the fastest-growing region during the forecast period. Rising adoption of kick scooter among millennial will spur the market growth in Europe and Asia Pacific. Growing health consciousness and traffic congestion in Europe and Asia Pacific region will also spur the market growth.
"Growing technological Advancements, acquisitions, mergers and new product launch are key strategies"
Rapid technological advancements in the kick scooter industry and acquisitions of small players by major players will be the key strategy by the market players in the industry.
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Kick Scooter market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
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Wheels
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Applicsation
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End-user
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
