The popularity of electric scooters is driven by a broader environmental climate. On the one hand, environmental awareness is growing, while on the other, traffic congestion is exacerbating the problem, leading to a growing demand for micro-mobility that bridges the "last mile."
According to statistics from the U.S. National Highway Traffic Safety Administration, short-distance shared rides under five miles account for approximately 60% of travel demand in the United States, primarily including shared bicycles, electric scooters, and electric bicycles.
While scooters are often used by children for leisure and entertainment, electric scooters are more than just a form of entertainment; they are also a means of transportation, offering significant potential.
Kukirin Electric scooters are very similar to electric bicycles: easy to operate, environmentally friendly, lightweight, and suitable for frequent, short-distance travel. Compared to the two, electric scooters are even lighter due to their simpler structure, smaller tires, and the fact that many are foldable. A Tianfeng Securities report indicates that electric scooters can be used as a means of transportation, with replacements for walking being a significant growth driver. They can also replace some forms of public transportation, driving, and cycling.
According to a report by Boston Consulting Group, the global smart scooter market is expected to reach $50 billion by 2025, with the European and American markets each projected to reach $15 billion and the Chinese market to reach $8 billion.
The release of the new national standard has enabled licenses for electric two-wheeled vehicles, creating enormous market opportunities. With electric scooters now also under national standards, and driven by massive market demand, Chen Xiangyu's wish may soon be realized.
