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Kick Scooter Sharing Market is Poised to Surpass $4,090.5 Million By 2025: P&S Intelligence

/EIN News/ -- NEW YORK, Dec. 02, 2019 (GLOBE NEWSWIRE) -- The global kick scooter sharing market share registered revenue of $143.4 million in 2018, and it is projected to reach $4,090.5 million by 2025, at a CAGR of 51.3% during the forecast period (2019–2025). Among the different models, the first and last-mile category held the larger share in the market in 2018, and it is forecast to remain the larger category during the forecast period, owing to its idealness to travel shorter distances.

The inflow of heavy investments is a key trend being witnessed in the kick scooter sharing market. Major players, along with the numerous start-up companies in the industry, are receiving hefty investments from several venture capitalists, equaling over $2.2 billion till date. For instance, in 2018, European investors, Index Ventures and Atomico, massively funded two of the top U.S. electric kick scooter sharing companies, namely Bird Rides Inc. and Neutron Holdings Inc. (Lime), respectively.

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The key consumer base of kick scooter sharing services was observed to be the millennial group, where the age is mostly between 20 and 35 years. These users perceive kick scooter sharing as a fun and enjoyable commuting option, which acts as a major factor for the growing demand for such services. Additionally, it has been witnessed that a significant number of solo travelers find these services useful for exploring and sightseeing at new places. Thus, the concept is gaining rapid popularity among tourists as well, which, in turn, is further driving the growth of the kick scooter sharing market.

North America is the largest kick scooter sharing market, globally, contributing the majority of the worldwide revenue in 2018. The market in the region came into being in late 2017, with the introduction of the services by Bird, Lime, and Spin in the U.S. Moreover, in late 2017, different kick scooter sharing companies began to flood the U.S., in an effort to occupy a significant market share before saturation. By the end of 2018, around 85,000 kick scooters were available for sharing purposes in numerous U.S. cities, where these have almost replaced the bike sharing services, earlier predominant.

Browse report overview with detailed TOC on "Kick Scooter Sharing Market Research Report: By Model (Multimodal, First and Last-Mile), Geographical Outlook ( U.S., Canada, Spain, France, Belgium, Switzerland, Austria, Singapore, Malaysia, Thailand, Mexico, Brazil, Colombia) - Industry Trends and Growth Forecast to 2025" at: https://www.psmarketresearch.com/market-analysis/kick-scooter-sharing-market

Europe, which was the second largest region in 2018, is expected to be the fastest-growing kick scooter sharing market, during the forecast period. The regional market is witnessing the entry of established players, with the intention to capitalize on their success in North America. Further, the influx of huge investments from various venture capitalists, along with automobile giants, is creating lucrative growth opportunities for kick scooter sharing service providers in this region.

The kick scooter sharing market is consolidated in nature, with Neutron Holdings Inc. (Lime) and Bird Rides Inc. (Bird) holding the major share.

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In October 2019, Grab entered into a partnership with the Archipelago International hotel to offer kick scooter sharing services to the hotel’s guests in Indonesia. In August 2019, Lime launched its sharing service in Montreal, Canada, with 250 kick scooters. Earlier, in July 2019, Dott announced that it had received an investment of $35.4 million (EUR 30 million), as part of its Series A funding round, which was led by EQT Ventures and Naspers Ventures.

Some other important players operating in the global kick scooter sharing market are Waybots Inc. (Skip), Social Bicycles Inc. (JUMP), VOI Technology AB, Taxify OU (Bolt), emTransit B.V. (Dott), Beam Mobility Holdings Pte. Ltd. (Beam), and LMTS Holding S.C.A. (Circ), TIER Mobility GmbH (Tier), BYKE Mobility GmbH (Wind), Bycyshare Technologies Pvt. Ltd. (Mobycy), Neuron Mobility Pte. Ltd., Grin Scooters SAPI de CV (Grin), mytaxi Polska sp. z o.o. (Hive), and Skinny Labs Inc. (Spin).

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India Shared Mobility Market

The two-wheelers category is expected to witness the fastest growth, in terms of vehicle type, in the Indian shared mobility market. Two-wheeler shared mobility is gaining traction in view of the fact that two-wheelers address multiple pain points with respect to affordability (~26% of the cab cost), availability, and convenience.

https://www.psmarketresearch.com/market-analysis/india-shared-mobility-market

India Two-Wheeler Sharing Market

In April 2019, a motorcycle/scooter e-hailing service provider, Rapido raised around $11.2 million in its Series A funding round, which was led by venture capital firm, Nexus Venture Partners. Rapido also declared that the amount will be used for the operational expansion of the company into new cities in India.

https://www.psmarketresearch.com/market-analysis/india-two-wheeler-sharing-market

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