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 26.3% during the projected period from 2019 to 2027, starting from US$ 470.5 Mn in 2018.
The market is driven by growing traffic congestion, first & last-mile transportation, and health consciousness amidst millennia. Rising obesity and overweight concerns among kids & adults people will also help in market growth. Growing inclination toward kick scooters for fun & recreational traveling option will also boost the market demand. The 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 the market growth
Rapid technological advancements in the kick scooter industry, such as electric kick scooters, different riding modes, and LED displays, will enhance the market growth. Using kick scooter for commute have different benefits such as muscle development, less time consumption, helps in fat burning, low maintenance, and others which will help the market growth in years to come. In addition, 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.
Market Synopsis
End-user Analysis
Increased adoption among kids will spur the segment growth
In 2018, the kids' segment dominated 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 segment's dominance. Kick scooter has various benefits for kids, such as the development of physical confidence, outdoor activity & exercise, development of motor skills, increased 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. Rapid penetration of kick scooters among youngsters and increased health consciousness amongst people are the key factors for the segment growth. In addition, 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 dominated the kick scooter market in 2018. North America has more than 40% global revenue share in the same year. Rising health consciousness, the presence of major players (such as Segway, Inc., Razor LLC, & others), and traffic congestion are the major factors for the growth of the region. According to the report of the global INRIX traffic scorecard, more than US$ 70 Bn is the cost of traffic congestion in major cities of the U.S. According to a 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, avoiding traffic congestion and adopting a healthy lifestyle will lead to growth in North America.
Rising adoption of kick scooters will spur the region's market
We expect Europe and the Asia Pacific to be the fastest-growing region during the forecast period. The rising adoption of kick scooters among millennials will spur market growth in Europe and the Asia Pacific. In addition, growing health consciousness and traffic congestion in Europe and Asia Pacific region will also spur market growth.
Growing technological Advancements, acquisitions, mergers and new product launches 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:
In November, Ford Motor Company acquired Spin, an electric kick scooter startup for U.S. $ 100 Mn. With the acquisition of Spin, Ford Motor Company will enhance its micro-mobility product portfolio.
In July 2018, AKTIVO Scoot launched the world's first hubless electric scooter. It comes with features such as high torque, high steering accuracy, ceramic brake, no maintenance, and others.
List of Companies Covered:
Unagi Scooter
Razor LLC
Xootr LLC
Fuzion Scooter
Segway Inc.
Globber Scooters
Exooter Scooter
Decathlon Group
AGDA NSW
Maxi Kickboard
Active Motors
Historical & Forecast Period
This study report represents an analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Segmentation Product Type (2017–2027; US$ Mn)
Electric
Non-electric
Wheels (2017–2027; US$ Mn)
Two Wheels
Three Wheels
Four Wheels
Application (2017–2027; US$ Mn)
Personal
Rental
End-user (2017–2027; US$ Mn)
Kids
Adult
Geography (2017–2027; US$ Mn)
North America (U.S., Canada)
Europe (U.K., Germany, Spain, Italy, Rest of Europe)
Asia Pacific (Japan, China, India, Rest of Asia Pacific)
Rest of the World (Latin America, Middle East & Africa)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall kick scooter market. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
Frequently Asked Questions
The market for Kick Scooter is expected to reach US$ 470.5 Mn in 2027.
The Kick Scooter market is expected to see significant CAGR growth over the coming years, at 26.3%.
The report is forcasted from 2015-2022.
The base year of this report is 2018.
Unagi Scooter, Razor LLC, Xootr LLC, Fuzion Scooter, Segway Inc., Globber Scooters, Exooter Scooter, Decathlon Group, AGDA NSW are some of the major players in the global market.
