Kick Scooter Sharing Demand in Global Market
In 2018, the global kick scooter sharing market generated $143.4 million and is predicted to attain $4,090.5 million in 2025, advancing at a 51.3% CAGR during the forecast period (2019–2025). The market is growing due to the surging urban road congestion, rising adoption of kick scooter sharing as a fun and recreational traveling option, and increasing demand for first and last-mile transportation. The use of kick scooters, which use battery and electric motor for power generation and propulsion, for the purpose of public sharing is referred to as kick scooter sharing services.
When model is taken into consideration, the kick scooter sharing market is bifurcated into multimodal and first and last-mile. The first and last-mile category dominated the market in 2018 and is further predicted to account for the major share of the market during the forecast period. Different mobility services, such as ridesharing, ride hailing, and carsharing, have remained unsuccessful in addressing the problem of first and last-mile commuting. However, the introduction of kick scooter sharing services has addressed this problem successfully, as these scooters are fit for traveling shorter distances.
Among all the regions, namely Latin America, Middle East and Africa (LAMEA), North America, Asia-Pacific (APAC), and Europe, North America accounted for the largest share of the kick scooter sharing market in 2018 and is expected to dominate the market during the forecast period as well due to the presence of major players, such as Spin, Bird, and Lime. Moreover, the region was the first to introduce the kick scooter sharing services in order to solve the first and last-mile commuting problem. Europe is projected to grow at the fastest pace during the forecast period.
A major trend being observed in the kick scooter sharing market is the inflow of heavy investments. Key players in the domain, along with the numerous start-up companies entering the market, are receiving heavy investments from venture capitalists. These services were introduced in 2017 and investments of more than $2.2 billion have been put in start-ups, within a span of two years. For example, Atomico and Index Ventures invested massively in the top two U.S. electric kick scooter sharing companies, namely Neutron Holdings Inc. (Lime) and Bird Rides Inc., respectively.
Hence, the market is growing due to the rapidly increasing road congestion and rising adoption of kick scooter sharing as a fun and recreational traveling option.
