Global Electric Kick Scooter Market Overview
The electric kick scooter 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 electric kick scooter market valuation to escalate to USD 5.30 BN by 2030, growing at an 11.01% CAGR from 2022 to 2030.
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.
Due to their simplistic design, electric kick scooters offer the benefit of low maintenance costs. Also, they don’t need the replacement of spark plugs and oil filters. Switching from ICE vehicles to e-kick scooters enables tackling the largest source of air pollution, reducing congestion by at least 40%. Resultantly, governments in countries across the globe have realized the potential that electric vehicles hold.
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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.
Electric Kick scooter 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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Automotive Navigation Systems Market Analysis
Automotive Navigation Systems Market is expected to be valued at USD 30,134.3 million with a CAGR of 7.9% Forecast by 2030
Several factors are adding to the global automotive navigation systems market Size. Some of these factors, according to the MRFR report, include the growing demand for semi-autonomous and autonomous cars, increasing concern for vehicle and driver safety, rapid adoption of these systems in commercial and passenger cars in India and China, lack of parking space, and growing support from the government to reduce road accidents.
On the flip side, the high cost of navigation technology coupled with underdeveloped telecommunication infrastructure may impede the global automotive navigation systems market Size growth over the forecast period.
Automotive Navigation Systems Market COVID-19 Analysis
The COVID-19 pandemic has cast its shadow on almost every industry, with the automotive navigation system market being no different. Lockdowns and social distancing trends imposed by the government during the first quarter of 2020 had a negative impact on the automotive industry. Manufacturing facilities were shut, there was a halt in production, and disruptions in the supply chain were also experienced. But with the gradual lifting of the lockdown, things have started to go back to normal. People are using cars not only for essential needs but also for long drives. All these are likely to have a positive impact on market growth.
automotive navigation systems Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global automotive navigation systems market Size based on sales channel, propulsion, vehicle type, and device type.
· By device type, the global automotive navigation systems market Size is segmented into mobile navigation system, portable, and in-dash navigation system. Of these, the in-dash navigation system will lead the market over the forecast period.
· By vehicle type, the global automotive navigation systems market Size is segmented into commercial vehicle and passenger cars. Of these, the passenger car segment will dominate the market over the forecast period.
· By propulsion, the global automotive navigation systems market Size is segmented into electric vehicle and ICE. Of these, the ICE segment will spearhead the market over the forecast period, while the electric vehicle segment will grow at a high CAGR.
· By sales channel, the global automotive navigation systems market Size is segmented into aftermarket and OEM. Of these, the OEM segment will have the lion’s share in the market over the forecast period, while the aftermarket segment will grow at a high CAGR.
Automotive Navigation Systems Market Regional Analysis
By region, the global automotive navigation systems market Size covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will dominate the market over the forecast period. The presence of a large number of manufacturers, rapid technological advances, the growing need for the commercial voyage, rising automobile production in Japan, South Korea, India, and China, rising population, people’s rising purchasing power, infrastructure development, and rapid industrialization are adding to the global automotive navigation systems market Size growth in the region.
The global automotive navigation systems market Size in Europe is predicted to have the second-largest share over the forecast period for the presence of several key players like Continental AG (Germany) and Robert Bosch GmbH (Germany).
The global automotive navigation systems market Size in North America is predicted to have healthy growth over the forecast period for the developing passenger market in Canada and the US.
The global automotive navigation systems market Size in the RoW is predicted to have sound growth over the forecast period.
automotive navigation systems market Key Players
- Delphi Technologies
- JVC Kenwood Corporation
- TomTom N.V.
- Continental AG
- Delphi Technologies
Automotive Navigation Systems Industry Updates
- January 2021- HERE has entered into a strategic partnership with Mitsubishi Corporation to allow better mobile navigation systems & location-based advertisements in entertainment facilities and airports.
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