The global kick scooter market is anticipated to grow at a CAGR of 26.8% during the forecast period from 2020- 2028, starting from US$ 589.7 Mn in 2019. The growing urban road congestion and rising first & last-mile transportation services are the major factors for the global kick scooter market demand. The rising health concerns among millennials and the growing overweight population across the globe are some other key factors presumed to fuel the global market demand during the forecast period. According to the World Health Organization (WHO) report issued in February 2018, more than 41 Mn children under the age of 5 and over 1.9 Bn adults as well as 340 Mn children & teenagers aged between 5-19 years were found caused with overweight in 2016. Moreover, in 2019, North America dominated the global kick scooter market owing to increased health consciousness and traffic congestion in the region.
The increasing technological advancements including electric kick scooter, LED display, different riding modes, and others are some other factors estimated to propel the global market demand. In addition, the benefits of kick scooters such as fasted sessions, traffic timesaving, calories burning, safe & easy, and others are presumed to boost the global market growth during the forecast period. The growing investments for expansions by key market players and new product launches are further estimated to drive the global market demand. For instance, in July 2019, Spin a kick scooter startup acquired by Ford Motor Company in November 2018, announced to deploy more than 15,000 next-gen kick scooters in 8 cities including Los Angeles, Denver, Kansas City, Washington, DC, Memphis, Portland, and Minneapolis. However, lack of awareness and ongoing Covid-19 pandemic are projected to hamper market demand throughout the forecast period.
Based on the wheels, the world kick scooter market is further segmented into two-wheels, three-wheels, and four-wheels. The three- wheels category had a major share in the global market in 2019 and accounted for more than 50% of the market revenue share in the same year. The category had its dominance due to its features such as safety, low cost, compact size, easy balanced & direction, and others. In addition, the growing demand from developing nations such as India, China, Indonesia, Brazil, and others is another key factor for the category growth in the near future. Besides, the two- wheels category is presumed to grow at a rapid pace owing to increased consumer inclination towards the two-wheel category and the introduction of technologically advanced two-wheel scooters.
The major market players in the global kick scooter market are concentrating on numerous strategies such as new product launches, geographical expansion, mergers & acquisitions, research & developments, product availability on e-commerce, and strategic partnerships among others. For instance, in November 2018, a leading kick scooter organization Unagi Scooter introduced a new electric kick scooter. The newly launched electric kick scooter was manufactured with aluminum & silicon, carbon fiber, and magnesium, for better performance. Moreover, the electric kick scooter comes in two models (250 Watt and 450 Watt) along with three riding modes beginner (max. speed 9.3 mph), intermediate (max. speed 12.4 mph), and advanced (max. speed 15.5 mph).
The research report on the global kick scooter market offers a complete analysis of key kick scooter manufacturers/providers, market revenue analysis, geographic presence analysis, and new technological developments. Competitive and strategic developments of the major organizations working within the global kick scooter market, along with development, mergers & acquisitions, new product launches, and strategic partnerships among the market players, have been offered within this global kick scooter market research report. A SWOT analysis has been accomplished on every market player summarized within the global kick scooter market report.