Sales of Kick Scooters is expected to grow at a CAGR of 8% to 10% during 2021 to 2031
As per the ongoing study, kick scooter market will grow at an optimistic rate during 2021-2031. Demand for kick scooter will witness high growth due to the rising awareness about environment friendly transport, growing infrastructure in developed & developing countries and increasing health awareness in the population.
High fuel prices in many countries and easy short distance commuting in high traffic congestion are some of the crucial factors that are impacting the sales of these scooters in the world.
What is driving demand for kick scooters?
Users are opting for environment-friendly to reduce carbon footprint across the globe and hassle-free means of commute in metro cities like the US, China, Germany. Many manufacturers are introducing new and advanced types of scooters in the market to promote the sales of these vehicles.
These scooters are growing popular among kids which is one of the factors impacting the sales of these scooters. Also, increase in the use of these scooters is witnessed among the adult population due to rising health awareness among people and affordable price has uplifted the demand of these scooters among users.
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Recovery in automotive industry is likely to amplify kick scooters sales
The automotive industry faced huge losses due to COVID- 19 pandemic. Assembly plant closure in US and many countries in Europe added to the pressure of a disrupted supply chain for automotive manufacturers.
Many manufacturers in the world import manufacturing components from china which also led to manufacturing disruptions in Europe as export of components was restricted due to lockdown.
Governments of many countries like US, China, Germany are encouraging the OEMs to increase the manufacturing of these scooters due to strict emission regulation norms to lower the carbon emissions in the environment. This factor is likely to promote the growth of the market in the forecast period.
Market outlook for US and Canada kick scooter industry
US is one of the largest growing markets for kick scooters globally. The two and three wheeled scooter market is forecasted to increase in the coming years in the US market as a cost- efficient modern transportation alternative for users.
The automotive industry has experienced a decline in sales during COVID-19 due to shut down of manufacturing facilities all over the world. Also, limited parts supply and reduced workforce also led to further decline of the industry. The market is slowly recovering as business restrictions have being uplifted in many parts of the world.
Kick Scooters are becoming highly popular in North America as these vehicles are easy to use and highly affordable in the region. North America region has many big manufacturers of two & three wheeled scooters like Razor USA LLC that is increasing the overall market share of the region for the market.
These scooters are available for kids as well as for adults in different colors and specifications. They are compact, easily foldable and used for leisure purposes which is a driving factor for the market. Manufacturers are also leveraging the popularity of E- commerce websites to increase the sales of scooters in the region.
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Europe demand outlook for kick scooters
Many countries in Europe region have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities but the market is slowly recovering in 2021.
Shutdown of production facilities in Europe affected millions of jobs as well during the pandemic. The demand for rental kick scooters has increased in European cities like Germany and France which is speeding up the market in the forecast period.
Manufacturers in Europe have introduced different variety of models with new designs, latest technology, safety and great level of comfort. They provide scooters with different colors along with larger wheels and adjustable handlebars which makes them easy to use. These factors are enhancing the demand for kick scooters in the region in forecast period.
Who are the key manufacturers and suppliers of kick scooters?
Some of the leading manufacturers and suppliers of scooters include
- Razor USA LLC
- Segway Inc.
- Xiaomi Corporation
- YADEA Technology Group Co. Ltd.
- Niu Technologies
- Bird Rides Inc.
- KTM Group
- Fuzion Scooters
- GOVECS GmbH
Many leading manufacturers are adding new features to their new models of scooters along with technological advancements as a strategy to acquire higher market share and expand their geographical presence. Companies are also using authorized online E- commerce platforms and retail locations to increase the sales of kick scooters.
An Adaptive Approach to Modern-day Research Needs
Kick Scooter Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Product Type
- Non- Electric
- Two Wheeled
- Three Wheeled
- Four Wheeled
By End Use
- North America
- Latin America
- South Asia Pacific
- ASEAN countries
- East Asia
- South Korea
- Middle East & Africa
- South Africa
- North Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Note: Although care has been taken to maintain the highest levels of accuracy in FACT.MR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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