Future of Electric Scooter Design Market Overview
The Future
of Electric Scooter Design Market size is witnessing rapid revenue growth across
the globe. Governments' targets to introduce e-mobility and the wide uptake of
these compact, lightweight vehicles are key driving forces. Citing the
increasing global pressure to reduce carbon footprints, MRFR expects the global
Future of Electric Scooter Design Market valuation to escalate to USD 5.30 BN
by 2030, growing at an 11.01% CAGR from 2022 to 2030.
The Future of Electric Scooter Design Market has
experienced a significant surge in popularity as urban commuters seek
convenient and eco-friendly alternatives to traditional modes of transportation.
Electric scooters, equipped with battery-powered motors, offer a compact and
agile solution for short-distance travel within cities. The market's growth is
attributed to factors such as increased urbanization, traffic congestion, and a
growing emphasis on sustainable transportation. Commuters appreciate the
portability and ease of use of electric kick scooters, which can be easily
folded and carried onto public transportation or stored in tight spaces, making
them a practical last-mile solution for many urban dwellers.
Governments and city authorities are also recognizing
the potential of electric scooters to alleviate traffic congestion and reduce
carbon emissions, leading to the implementation of regulations and
infrastructure improvements to accommodate this emerging mode of
transportation. As technology continues to advance, with improvements in
battery efficiency and durability, the Future of Electric Scooter Design Market
is poised for further growth, offering a versatile and eco-conscious mobility
solution for the modern urban landscape.
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Electric scooters are garnering huge
popularity, with urbanities increasingly preferring them for short-distance
commutes or neighborhood mobility. With a solid metal-alloy body, functional
suspension mechanism, and 25 kmph top speed with around 20kms range, e-kick
scooters have become an easily scalable clean mobility option. With recent
technological advances, electric kick scooters have become outlandishly
high-tech.
E-kick scooters have evolved from mere modes
of personal mobility to futuristic devices equipped with Bluetooth smartphone
connectivity, navigation, over-the-air updates, and so on. Although in its
nascent stage, the e-kick scooter market is gaining vast attention. Leading
manufacturers of electric kick scooters, like Luup Inc. (Japan), are also
providing electric kick scooter sharing services in and around major cities.
Future of Electric Scooter Design Market
Leaders
Leading market players are Jiangsu Xinri
E-Vehicle Co. Ltd., SWAGTRON, YADEA Technology Group Co., Ltd., SEGWAY Inc.,
Bird Rides, Inc., Xiaomi, GOVECS AG, iconBIT GmbH, Razor USA LLC, and Niu
International, among others.
Notable Industry Updates
On
Apr.08, 2022, EMotorad launched an electric kick scooter and e-cycle to expand
its portfolio in India. The company introduced two new products, Lil E, a
new-age electric kick-scooter, and T-Rex+, an electric cycle. The two new
variants join its existing range of e-cycles, T-Rex, EMX, and Doodle, targeting
tech-savvy urban mobility users in the country. EMotorad holds a vision of
making a name for India in the global EV space.
Key Industry Trends
E-kick scooters have brought micro-mobility
to the center stage and stimulated the personal mobility market. Today, a wide
variety of electric kick scooter models are available in the market. Due to
large technological advancements and policy initiatives, these scooters are
expected to address major barriers to electric mobility. However, a renewed
focus on equity will contribute significantly to making this growth a reality
in the future.
Rapid developments of electric vehicle
infrastructure and charging stations as a part of smart city projects influence
the market value. Following recent revisions in road traffic laws in many
countries to ease restrictions regarding electric kick scooters, the market is
expected to gain a substantial boost. Besides steps taken to prevent traffic
accidents involving them, electric kick scooter share would rise as a convenient means of
transportation.
Additionally, battery technology developments
and declining costs are other major factors bolstering the market demand for
electric kick scooters. Increasing focus on technologically advanced product
development is expected to impact industry growth positively. The operating
cost of an electric kick scooter is relatively lesser, while performance is
excellent compared.
Electric kick scooter manufacturers primarily
focus on improving the on-road riding experience for their customers. They
initiate several strategic approaches, such as collaborations, mergers &
acquisitions, expansions, and product launches. Industry players also invest
strategically in research and development activities and foster their expansion
plans.
Realizing the need for a recreational commute
and electric commuting solutions, the company has taken a holistic view to
introducing Lil E electric kick-scooter to grab the opportunity to enter the
recreational commute space. It has created a very strong base in the Indian
market while expanding to other markets. Constantly improving products with
consumer feedback and conducting market research, EMotorad has made several
improvements to its products.
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