The Global Electric Scooter and Motorcycle Market was estimated to value USD 1,140 thousand units in 2021 and is projected to grow at a CAGR of 32.5% during the forecast period 2021 to 2030.
Electric motorcycles and scooters are well-known as plug-in electric vehicles and have three or two wheels. The electricity used by these vehicles is stored in lithium or lead-type rechargeable batteries. Electric motorcycles are more comfortable as compared to diesel or petrol-based motorcycles. Electric motorcycles produce less exhaustion and vibration noise.
The significant factors contributing to the development of the market comprise the increasing number of investments worldwide to support the development of charging infrastructure and the increasing number of initiatives offered to the consumers.
In addition, the developing trend of adjusting e-mobility for short-distance travel will additionally bring several opportunities for the growth of the market. With the increasing concern for air pollution caused by vehicles, which are gasoline-based, the governments all around the world are providing several tax benefits and subsidies to support the use of eco-friendly vehicles.
Furthermore, there is the low maintenance constraint due to the internal combustion engines used in electric vehicles. This factor is additionally supporting the development of the market. The increasing population rate has resulted in a surge in the amount of traffic on roads. This has resulted in the working populace increasingly preferring motorcycles and scooters, to evade traffic jams, particularly in developing countries in the Asia Pacific region.
Furthermore, the growing requirement of competent vehicles with zero carbon emission, followed by the growing concerns associated with the environment and the execution of strict rules regarding vehicle emission is driving the growth of the market. On the other hand, the lack of charging infrastructure is expected to impede the growth of the market. The major challenge for the electric scooter ad motorcycle market is the lack of customer attention on account of unattractive design and performance. Compared with conventional two-wheelers electric two-wheelers are more energy efficient, however, they are still not up to the mark in terms of performance and design standards.
TABLE 1: GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET OVERALL SNAPSHOT
Market Segmentation
The electric scooter and motorcycle market is segmented by vehicle type, battery, range, voltage, technology, and region.
FIGURE 2: GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET SEGMENTATION
Vehicle Type Segment Overview
Based on vehicle type, the market is divided into scooters and motorcycles. The electric scooter market holds the largest market share in 2021 and is anticipated to remain largest during the forecast period.
The growth of the segment is attributed to the low price of electric scooters as compared to the electric motorcycles, which is a major factor propelling the market development.
Battery Segment Overview
Based on battery, the market is segmented into lithium-ion, and sealed lead acid (SLA). The sealed lead acid-powered two-wheelers recorded the largest market revenue in 2021 is anticipated to remain largest during the forecast period.
The growth of the segment is attributed to high demand from the consumer, and several advantages associated with SLA batteries.
Range Segment Overview
Based on range, the market is segmented into 0-75 miles, 76-100 miles, and above 100 miles.
The 0-75 miles segment holds the largest share in 2021 and is expected to remain largest during the forecast period, as most of the electric mopeds/scooters have a range up to 75 miles.
Voltage Segment Overview
Based on voltage, the market is segmented into 60v, 48v, 36v, and others. The 48v segment holds the largest share in 2021 and is anticipated to remain the largest growing segment during the forecast period.
The growth of the segment is attributed to the increasing consumer preference for 48 V battery-powered two-wheelers on account of their higher benefit-to-price ratio.
Technology Segment Overview
Based on the technology, the market is segmented into plug-in and batteries. Among all, the battery segment holds the largest market share in 2021 and is anticipated to hold the largest market during the forecast period.
The growth of the segment is attributed to the affordability of battery-operated scooters, which is the key factor propelling the development of the market.
Regional Analysis
Based on region, the electric motor and motorcycle market is segmented into Asia Pacific, North America, Europe, Middle East and Africa, and South America. Among all the segments, the Asia Pacific holds the largest market share in 2021 and is anticipated to be the largest market share during the forecast period.
The government is promoting electric two-wheelers due to the large sales volume and sales production in China. Increasing demand for reasonable electric scooters for short distance traveling, and government support for electric two-wheelers is anticipated to propel the growth of the Asia Pacific market during the forecast period.
China is the fast-growing economy, and the country is driving the expansion of innovative technologies and manufacturing electric vehicles. The Indian government is taking initiatives such as the adoption and manufacturing of hybrid and electric vehicles FAME-II, offering tax exemptions and subsidies to buyers to support electric two-wheelers.
TABLE 2: GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET OVERVIEW
FIGURE 3: GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET (USD THOUSAND UNITS), 2021–2030
COVID-19 Impact on Market
The QMI is closely observing the impact of COVID-19 on the global electric scooter and motorcycle market. The pandemic had an adverse impact on the market. The global lockdown has resulted in a halt of sales and manufacturing of new vehicles, comprising motorcycles and electric scooters.
The disruption of supply chain had resulted in low supply of raw materials for the manufacturing electric scooters and motorcycles leading to delays in manufacturing. This has led to the fast collapse of the industry's economy. Though, with the rising proclivity toward cleaner mobility worldwide, the industry is looking towards the financial revival in the post-COVID-19 pandemic.
The market has observed a significant development, on account of the increasing necessity for sustainable transportation. Rising environmental concerns, along with satisfactory government initiatives, are some of the key factors propelling the market's growth. Increasing energy competition and costs among the emerging energy-efficient technologies are also predictable to drive the market's development.
Recent Developments:
- In August 2020, Okinawa Autotech introduced its brand-new electric scooter, R30. The scooter goes to the low-speed range, having a speed limit of 25 km/h.
- In July 2019, Yadea Group revealed its Graphene batteries for electric two-wheelers. These batteries for two-wheelers have faster charging and long-life options related to most batteries being used worldwide.
- In February 2018, Hero Electric introduced a new electric scooter AXLHE-20. The scooter is maybe the most dominant one presently being offered by the company. The electric scooter houses a 4-kW motor powered by a Li-ion battery pack.
- In May 2018, Sunra announced Miku Max, a single-seater electric scooter considered in sea shape. This 800 W scooter can effortlessly reach a top speed of 45 km/h. On a full battery responsibility, it offers a variety of up to 60 km. Similarly, there are USB charging ports present.
What Does This Report Provide?
This report provides a detailed understanding of the global electric scooter motorcycle market from qualitative and quantitative perspectives during the forecast period. The major market drivers, challenges, and opportunities for the global electric scooter motorcycle market have been covered in the report.
Market Segmentation:
By Vehicle Type
- Motorcycles
- Scooters
By Battery
- Lithium ion
- Sealed Lead Acid
By Range
- 0-75 Miles
- 76-100 Miles
- Above 100 Miles
By Voltage
- 60v
- 48v
- 36v
- Others
By Technology
- Plug-in
- Battery
By Region:
North America Electric Scooter and Motorcycle Market
- North America, by Country
-
- U.S.
- Canada
- Mexico
- North America, by Vehicle type
- North America, by Battery
- North America, by Range
- North America, by Voltage
- North America, by Technology
Europe Electric Scooter and Motorcycle Market
- Europe, by Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Europe, by Vehicle type
- Europe, by Battery
- Europe, by Range
- Europe, by Voltage
- Europe, by Technology
Asia Pacific Electric Scooter and Motorcycle Market
- Asia Pacific, by Country
-
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- Asia Pacific, by Vehicle type
- Asia Pacific, by Battery
- Asia Pacific, by Range
- Asia Pacific, by Voltage
- Asia Pacific, by Technology
Middle East and Africa Electric Scooter and Motorcycle Market
- Middle East and Africa, by Country
-
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East and Africa
- Middle East and Africa, by Vehicle type
- Middle East and Africa, by Battery
- Middle East and Africa, by Range
- Middle East and Africa, by Voltage
- Middle East and Africa, by Technology
South America Global Electric Scooter and Motorcycle Market
- South America, by Country
- Brazil
- Argentina
- Rest of South America
- South America, by Vehicle type
- South America, by Battery
- South America, by Range
- South America, by Voltage
- South America, by Technology
Major Companies: The major companies included in the report are: Jiangsu Xinri E-Vehicle Co. Ltd. (China), Yadea Group Holdings Ltd. (China), NIU International (China), Hero Electric (India), and Silence Urban Ecomobility (Spain).
Objectives of this Report:
- To estimate the market size for the global electric scooter and motorcycle market on a regional and global basis
- To identify major segments in global electric scooter and motorcycle market and evaluate their market shares and demand
- To evaluate key factors governing the dynamics of the global electric scooter and motorcycle market with their potential gravity during the forecast period
- To offer pricing analysis for the mentioned products
Key Questioned Answered in the Study:
- What is the market size both in terms of value and volume for the global electric scooter and motorcycle market?
- Who are the leading market players and who are the new market players that operate in the global electric scooter and motorcycle market with an estimated market share?
- What are the future investment pockets and opportunities in the global electric scooter and motorcycle market?
- Impact of COVID-19 on the global electric scooter and motorcycle market
Customization:
- By sub-segment
- By client-specific country, type, application, end use industry, market analysis
- Offering pricing analysis and potential list of customers
- Product-specific competitive analysis
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