Electric Scooter and Motorcycle Market Research Report
The factors driving the growth of Electric Scooter and Motorcycle Market includes emerging need for sustainable transportation
Electric Scooter and Motorcycle Market
The Electric Scooter and Motorcycle Market is expected to grow at a significant CAGR during the forecast period (2020-2027).
The factors driving the growth of Electric Scooter and Motorcycle Market includes emerging need for sustainable transportation, increasing government initiatives such as allocating subsidies and tax benefits to manufacturers to produce eco-friendly vehicles and growing environmental concerns. In addition, increasing development of charging infrastructure around the world, is boosting the growth of Global Electric Scooter and Motorcycle Market, the United States Government plans to invest $5 Billion during the next 5 years to expand the national EV charging network. Moreover, the growing working-class population, increasing regulations regarding vehicles emission norms and rising crude oil prices have pushed the demand for electric scooter and motorcycles have increased the Electric Scooter and Motorcycle Market Size in the International markets. As per the report published by Council on Energy, Environment and Water (CEEW), the Indian Electric Vehicle market to grow 30% by 2030 due to growing oil prices and further claims that Electric Vehicles are expected to contribute nearly 30% of the total vehicle sales in India by 2030.
However, the growth of Electric Scooter and Motorcycle Market is hindered due to inadequate charging facilities and underperformance of Electric vehicles in the domestic markets.
Some of the Prominent Players operating in the market are Yadea Group Holding Ltd., Energica Motor Company, Piaggio Group, Mahindra and Mahindra Ltd., Harley Davidson, Hero Electric, Vmoto Limited, Electrotherm Ltd., BMW Group, Jiangsu Xinri E—Vehicle Co., NIU International and KTM AG, among other.
Vehicle type: Segment Analysis
Based on the vehicle type, the e-motorcycle segment is expected to grow at a faster CAGR during the forecast period. The growing application of e-motorcycles in off-roading, commuting and racing along with rising environmental concerns and increasing adoption of E-Vehicles, are some of the factors augmenting growth of the segment.
Battery type: Segment Analysis
Based on the battery type, the sealed acid segment is projected to lead the electric scooter and motorcycle market during the forecast period because it offers less expensive battery than the conventional batteries.
On the other hand, lithium-Ion segment is predicted to grow at higher CAGR during the forecast period due to their several advantages such as high density, long shelf life, temperature tolerance and zero maintenance cost.
Region: Segment Analysis
Based on the region, the European region is anticipated to dominate the market during the forecast period due to the presence of Key players in the region such as BMW, GOVECS and KTM along with growing industrialization and continuous infrastructure upgradation. Moreover, the increasing use of advanced technologies, growing traffic congestions especially in cities and increasing disposable income are some of the factors, propelling the market growth in Europe.
Global Electric Scooter and Motorcycle Market by Vehicle Type
Global Electric Scooter and Motorcycle Market by Battery Type
• Sealed Lead Acid
Global Electric Scooter and Motorcycle Market by Technology Type
Global Electric Scooter and Motorcycle Market by Distance Covered
• Below 75 Miles
• 75–100 Miles
• Above 100 Miles
Global Electric Scooter and Motorcycle Market by Voltage Type
Global Electric Scooter and Motorcycle Market by Region
• Asia Pacific
o Rest of APAC
• North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
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