The Electric Kick Scooter Market is witnessing significant growth, according to a recent report by The Business Research Company. The market size is expected to increase from $2.74 billion in 2023 to $3.1 billion in 2024, with a compound annual growth rate (CAGR) of 13.1%. This growth can be attributed to various factors such as the demand for last-mile transportation solutions, urbanization, environmental sustainability, government initiatives, and consumer preference for tech-enabled mobility.
Looking ahead, the electric kick scooter market is projected to continue its rapid expansion, reaching $4.86 billion in 2028 at a CAGR of 11.9%. This growth will be driven by innovations in design and features, the expansion of micro-mobility services, improved infrastructure support, integration with public transportation, and growing concerns about air quality.
One of the key drivers of growth in the electric kick scooter market is the increasing popularity of electric vehicles (EVs). Electric kick scooters are seen as a safe, practical, easy-to-use, and environmentally friendly mode of transportation. With global sales of electric vehicles surging by over 140% in the first quarter of 2021 compared to the previous year, the demand for electric kick scooters is expected to rise significantly.
Moreover, technological innovations are playing a crucial role in shaping the electric kick scooter market. Companies like NIU are focusing on developing new technologies to enhance their products and stay competitive in the market. For instance, NIU recently launched two carbon fiber scooters, the KQi Air X and the KQi Air, which are lightweight, durable, and feature advanced specifications for a fun and efficient riding experience.
Stakeholders in the electric kick scooter market can benefit from comprehensive market insights, informed decision-making, competitive advantage, tailored solutions, and a global perspective by leveraging reports from The Business Research Company. With detailed market statistics, trends, and analyses, stakeholders can stay ahead of the competition and capitalize on emerging opportunities in the industry.
In conclusion, the Electric Kick Scooter Market is set to experience significant growth in the coming years, driven by factors like the surge in popularity of electric vehicles and technological advancements. By staying informed about market trends and competitor analysis, businesses can position themselves for success in this rapidly evolving industry. For more information, you can visit The Business Research Company’s website and explore their customized reports tailored to specific industry needs.
