Kick Scooter Tire Forecast and CAGR
According to the research, the Kick Scooter Tire market is anticipated to exhibit significant growth between 8% and 9% during the assessment period of 2021 to 2031. The global kick scooter market is still developing and is considered to be in a nascent stage;
however, due to rising demand for last-mile transportation and the advent of kick scooter sharing fleets, it is likely to rise significantly during the forecast period. This in turn is expected to boost the demand for Kick scooter tire market globally for both the OEM and aftermarket segments.
What is Driving Demand for Kick Scooter Tires?
Increasing health concerns among individuals around the world, as well as increasing urban vehicle congestion is expected to boost demand over the forecast period. The key market drivers is expected to be the increase in demand for first- and last-mile mobility, as well as the growing acceptance of kick scooters among millennials.
Kick scooters provide a number of advantages, including physical movement, burning calories, convenience, and ease of use, and helps to save time in traffic.
Key manufacturers are making huge investments in product development and innovation. New and enhanced tread patterns that provide excellent grip in wet as well as poor road conditions are anticipated to spur the sales of tires.
The increase in environmental pollution and carbon footprint is increasing around the globe with increasing population. The governments of many countries like Germany, the US, China, Japan are promoting the use of electric kick scooters as they do not use fossil fuels and run on electric batteries. This factor is increasing the demand for electric kick scooters, which in turn increases the demand for kick scooter tires.
Shared mobility has been increasing in any developing countries as a large number of the middle-class population do not own personalized vehicles. Shared mobility reduced pollution, traffic congestion along with short-term access to fulfill travelling needs of the people.
The number of electric vehicles has been increasing over the past few years due to increasing carbon emissions by fuel vehicles. Many governments are promoting the use of electric vehicles and introducing various financial schemes for electric vehicle buyers.
Prominent players are providing different sizes of tires to meet the global demand and to expand the customer base. Increasing investments in research and development along with the use of sustainable and innovative tire material are projected to drive the demand of kick scooter tire market in the global market during the forecast period.
What is the Scenario of Pneumatic Tires in the Market?
Due to their improved quality and safety, pneumatic scooter tires have gained prominence. Their hollow shape is more compliant, resulting in improved traction and a more comfortable ride. Pneumatic tires are most commonly used as they provide smoother ride quality and their supple rubber works a lot better in poor road conditions.
The main advantage of pneumatic tires is their ability to offer plush shock absorption. Owing to these factors, the pneumatic tires segment is expected to witness significant growth in the global market throughout 2031.
Asia Pacific Demand Outlook for Kick Scooter Tires
Asia-Pacific is anticipated to hold the largest share in the global market as a result of widespread use of kick scooters in China. The existence of major kick scooter manufacturers, considerable government support, and a strong consumer base are some of the factors that are expected to drive kick scooter tire sales in China.
The availability of raw materials at a lower cost and the increase in the investment towards infrastructure development is expected to bolster the demand of kick scooter tires in the Asia Pacific region.
Who are the Key Manufacturers and Suppliers of Kick Scooter Tires?
The global kick scooter tire market is becoming increasingly competitive, with leading companies focusing on acquisitions and investments in order to provide customers with more efficient and cost-effective products.
Some of the key players in market are
- Xootr LLC
- Segway Inc.
- Unagi Scooter
- Fuzion Scooter
- Razor LLC
- Aktivo Motors
- Decathlon Group
- Globber Scooters.
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