March 28, 2020
Kick Scooter

Kick Scooter market: Europe and Asia Pacific expected to show the fastest growth during the forecast period

The Kick Scooter market was valued at US$ 470.5 million in 2018 and is expected to grow at CAGR by 26.3 per cent during the forecast the period from 2019 to 2027.

Market Insights

Rising health concerns among people worldwide and rising urban road congestion globally will increase demand for the kick scooter market throughout the forecast period 2019-2027. Increased demand for first and last-mile transport and the increasing adoption of kick scooters among millennia are the main drivers of the market. North America, backed by Europe and Asia Pacific, was dominant in the global kick scooter market in 2018.

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Kick scooters have a variety of benefits, such as helping to burn calories, healthy movement, fasting sessions, safe and easy, time-saving traffic and others. Rising obesity and overweight disease worldwide and increased traffic congestion worldwide are some of the other factors driving market growth. According to the WHO report published in February 2018, over 1.9 Bn adults, 41 Mn children under 5 years of age and more than 340 Mn teenagers and children between 5 and 19 years of age have been identified due to obesity and overweight in 2016. Thus, in order to overcome obesity and traffic congestion, the inclination of consumers to kick scooters is growing, which will help the market to grow.

Major manufacturers are focusing on launching new and advanced features such as electric kick scooters with different riding modes. The key strategies adopted by market players will be the launch of new products, acquisitions and mergers, and collaborations to increase their market presence and market share.

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Market Trends

Investments in kick scooter companies are speeding up. The market for electric kick scooters is currently in its early stages, but is steadily growing with the rise in scooter startups offering kick scooters for sharing. In recent years, competition in the market has grown, and so have the investments. For example, Google Ventures, a venture capital division of Alphabet Inc., led a funding round for Neutron Holdings Inc. (LimeBike) for $355 million in July 2018.

In addition, a number of ride-hailing and automotive companies are focused on acquiring two-wheeler electric sharing companies to increase their service offerings. Spin, an electric kick scooter startup, was acquired by Ford Motor Company in November 2018 for around $40 million.

Industrial Developments

• In November 2018, Unagi Scooter launched a new electric kick scooter. The kick scooter was manufactured with magnesium, carbon fiber, aluminum & silicon for better performance. It comes in two models, digital display, and with three riding modes beginner, intermediate and advanced.

Key Market Movements:

• Worldwide, the kick scooter market is increasing at a CAGR of 26.3% for the projected period from 2019 to 2027
• North America has the largest share in global kick scooter market in 2018. North America dominates the market owing to growing traffic congestion, rising obesity & overweight among adults and the presence of major market players such as Razor LLC, Xootr LLC, Fuzion Scooter, and others in the region.
• Europe and Asia Pacific expected to show the fastest growth during the forecast period. Rising health consciousness and increased adoption of kick scooters among millennia’s will drive the market in Europe and Asia Pacific. Growing traffic congestion on roads will also boost the market demand in Europe and Asia Pacific during the forecast period.
• Based on the wheels segment, the three-wheel segment dominates the market in 2018. The three-wheel segment has the highest share due to its features such as easy balanced & direction, safety, compact size low cost, and others.
• New product launches with advanced features, business expansion through e-commerce and mergers & acquisitions will be the major key strategies of the market players.

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