Global Electric Scooter And Motorcycle Market

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Global Electric Scooter and Motorcycle Market

Global Electric Scooter and Motorcycle Market was valued at US$ X8.X6 billion in 2019 and is expected to reach US$ XX by 2027, at a CAGR of 10.1% during a forecast period.

 

Global Electric Scooter and Motorcycle Market

 

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Global Electric Scooter and Motorcycle Market Industry Overview

 

Electric scooters and motorcycles are electricity power-driven two-wheelers. The global electric scooters and motorcycles market is developing at a substantial rate, because of encouraging government initiatives and provision on eco-friendly vehicle, and increase in the necessity of the capable vehicle with zero carbon discharge. Electric scooters mainly provided to the electric scooters and motorcycles market size. The market has witnessed a high demand for scooters in the last half decade because of its light weight and increase adoption for daily commute in the urban areas.

 

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

 

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Global Electric Scooter and Motorcycle Market Industry Dynamics

 

Global Electric Scooter and Motorcycle Market Industry Trends and Growth Drivers

 

The increased adaptation of e-mobility for smaller distance is the key trend in the electric scooters and motorcycles market.

The encouraging government initiatives and support for eco-friendly vehicle like subsidies and tax benefits; the rising concern for air pollution caused by gasoline based vehicles; traffic bottle neck issues, and introduction of novel technologies are the major growth drivers for the electric scooters and motorcycles market. Furthermore, low maintenance related to vehicles equipped with internal combustion engines has resulted in increase in adaptation of electric scooters and motorcycles. For instance, as per the survey published by Forbes in 2019, because of rise in awareness about pollution, the sales of electrical bikes (e-bikes) have surpassed that of non-electric bikes in the Netherlands. Likewise, the educating awareness of environmental threats caused by pollution, people in India started preferring e-bikes. As per the Business Today, the sales of e-bikes in the country amplified from around 2X,X00 in 2018 to 2X,X00 in 2019. The increase in adoption of electric bikes and scooters are anticipated to remain in the forecast period.

 

Additionally, the increase in the necessity of the competent vehicle with zero carbon discharge and effective green energy vehicles, rising concern about environmental pollution and strict regulations about vehicle emission are also amplifying the growth of the market. For example, according to the World Health Organization (WHO), globally, experience to ambient air pollution leads to 4.2 million deaths each year. Also, 91% of the world’s population exists in a place where air quality is more than above of WHO guidelines limit. Accessibility of smart charging stations, food, and beverage delivery, developing charging infrastructure, decreasing cost of lithium-ion batteries and EV charging stations motorized by solar panels are also assisting the growth for the electric scooters and motorcycles market.

Global Electric Scooter and Motorcycle Market Challenges

 

Poor performance of the electric vehicle, shortage of charging infrastructure, and stringent rules for installation of charging stations are the key challenges for the growth of electric scooters and motorcycles market. In this regard, the Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI) have estimated that around 9.6 million charge ports will be required to assist 18.7 million electric vehicles expected to be sold in the US by 2030.

Global Electric Scooter and Motorcycle Market Industry Ecosystem

 

Globally industry players are leveraging market growth via inducing new products. Different players are financing in the development of new battery technology to lower the cost of electric scooters and motorcycles to compete against gasoline vehicles in terms of price and performance. In the forecast period, industry leaders are expected to considerably lower the cost of these vehicles and improve the performance of these vehicles leading to adoption by masses.

Global Electric Scooter and Motorcycle Market ,Market Segmentation

 

Global Electric Scooter and Motorcycle Market Insight by Product

 

On the basis of product, the electric scooters and motorcycles market is sub segmented into motorcycle and scooter. Among the products, scooters segment registered for the XX% share in the market because of increased acceptance in urban areas, and lightweight. Furthermore, the motorcycles segment is anticipated to grow at the XX% in the market owing to mounting demand for high-speed two-wheelers.

Global Electric Scooter and Motorcycle Market Insight by Battery Type

 

On the basis of battery type, the market is sub segmented into lithium-ion and sealed lead acid. Among the battery type, the sealed lead acid segment registered for the XX% share in the market owing to its low cost, and ease in compatibility. Moreover, the sealed lead acid segment is anticipated to grow at the XX% in the market because of lightweight, high charge efficiency, and technological benefits.

Global Electric Scooter and Motorcycle Market Insight by Voltage

 

On the basis of voltage, the market is sub segmented into 12V, 24V, 36V, and 48V. Among all voltages, 48V batteries registered for the XX% share in the market owing to the peak power output of these batteries, and higher compatibility. Additionally, 24V and 36V batteries are estimated to grow at the XX% in the market, because of high power range and persistent research and development in advancing the performance and speed of these vehicle.

Global Electric Scooter and Motorcycle Market Geographic Overview

 

Geographically, Asia-Pacific is the largest electric scooters and motorcycles market because of government support in the mode of permits, supports, and tax discounts. Increase urbanization, rising awareness about environmental pollution, traffic congestion, and increasing disposable income are also amplifying the growth of market in the region. Furthermore, China registered for the XX% share in the Asia-Pacific market, owing to the large population base. Also, availability of strong charging infrastructure and prompt urbanization are the factors boosting the growth of the China electric scooters and motorcycles market. Moreover, India is projected to grow at the XX% in the Asia-Pacific market. In North America, the electric bikes and scooters market is regulated by the U.S. Congress passed Public Law sections 107-319. This law affects to the modifications required for the consumer product safety act and defines strict regulations to be followed retrospect to the speed of electric bikes. As par this law, the electric motor of the vehicle must be <750 watts and the maximum speed of the bike driven by a person weighing 170 pounds should not exceed 20 mph. To obey with this law, the U.S. Consumer Product Safety Commission (CPSC) considers, admires and certifies bikes that meet this definition for manufacture and sale at the federal level. Hence, regulations such as these regulate the electric bikes and scooters market.

scope of the report Global Electric Scooter and Motorcycle Market:

 

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The report covers the market leaders, followers and new entrants in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and M&A activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. More than ten companies are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time. For example, In March 2019, German automotive and industrial supplier Schaeffler acquired Elmotec Statomat GmbH for an unrevealed amount. Through this acquisition, Schaeffler aims to develop and advance more rapidly and efficiently in the electric motors construction business, and at the same time, increase its e-mobility strategy. Elmotec Statomat GmbH is involved in the field of electric motors construction and winding technology. It was founded in 1998 and is headquartered in Karben, Germany.

 

The objective of the report is to present a comprehensive analysis of the Electric Scooter and Motorcycle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Vehicle. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Vehicle on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Electric Scooter and Motorcycle Market dynamics, structure by analyzing the market segments and project the Electric Scooter and Motorcycle Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Electric Scooter and Motorcycle Market make the report investor’s guide.

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