Electric Motorcycles & Scooters Market Report 2021 – 2027: Growth Drivers & Regional Revenue
Global Electric Motorcycles & Scooters Market is anticipated to depict a CAGR of 4% through 2027, having recorded a valuation of USD 30 billion in 2020. By 2027, the market is expected to hit a remuneration of USD 40 billion.
With improved charging infrastructure and the introduction of new battery technology, the electric motorcycles & scooters market is expected to procure commendable growth by 2027. Government grants and subsidies provided on the purchase of new electric two-wheelers are likely to boost vehicle sales.
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Electric motorcycles and scooters are powered with rechargeable batteries which significantly decrease carbon dioxide emission and air pollution. When it comes to batteries, high-capacity Li-ion batteries are witnessing a robust demand credited to their efficiency, enhanced performance, and long shelf life.
As per studies, the rampant use of motorized two-wheelers like scooters and motorcycles, especially in Southeast Asia, is becoming a major problem as these vehicles are leading to increased energy consumption, greenhouse gas emissions, and air pollution. To overcome these issues, the Southeast Asian countries, along with the support of the United Nations Environment Programme, are encouraging people to shift to electric motorbikes.
The 36V battery segment is likely to record substantial growth over the forecast period. These batteries are mainly used in electric scooters given to their low initial costs than the high performance 48V batteries. 36 voltage batteries are light in weight as they consist of a small number of cells, which also reduces the cost of electric motorcycles and scooters as well as enables a smoother driving experience.
Despite the COVID-19 pandemic halting the manufacturing of electric two-wheelers in 2020, the industry has seen to steadily pick pace from the second half of 2020 on account of rising preference for zero emission vehicles. There are increasing concerns among consumers regarding greenhouse gas emissions caused by ICE motorcycles and scooters and rising fuel prices, which is anticipated to boost the usage of electric two-wheelers.
Geographically, the North America electric motorcycles & scooters market is being driven by the early usage of technologically modern mobility solutions as well as high consumer spending. The government is spending highly on electric vehicles. Moreover, the presence of enhanced infrastructure and EV charging stations is escalating the demand for electric motorcycles and scooters in the region.
Globally, the electric motorcycles & scooters market consists of companies such as Mahindra GenZe, Govecs Group, Yadea Technology Co. Ltd., KTM, Lightning Motorcycles, Zero Motorcycles, Z Electric Vehicle, Energica Motor Company, and Harley Davidson. These firms are working on various business strategies including new product development and launches. In 2021, Harley Davidson announced the launch of its new electric motorcycle brand, LiveWire.
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Some Point from Table of Contents:
Chapter 6 Electric Motorcycles & Scooters Market, By Battery
6.1 Key trends by battery
6.2 SLA
6.2.1 market estimates and forecast, 2017 – 2027
6.3 Li-ion
6.3.1 market estimates and forecast, 2017 – 2027
Chapter 7 Electric Motorcycles & Scooters Market, By Voltage
7.1 Key trends by voltage
7.2 24V
7.2.1 market estimates and forecast, 2017 – 2027
7.3 36V
7.3.1 market estimates and forecast, 2017 – 2027
7.4 48V
7.4.1 market estimates and forecast, 2017 – 2027
7.5 Others
7.5.1 market estimates and forecast, 2017 – 2027
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