Electric Motorcycles & Scooters Market will exhibit 5% CAGR from 2018 to 2024
Low maintenance compared to vehicles equipped with internal combustion engines (IC) in conjunction with smooth operation of these two-wheelers has resulted in increased popularity. Electric motorcycles & scooters market players are focusing on improving the aesthetics and offering sturdy structure to the vehicle. These are vibration free owing to less moving parts in these vehicles resulting in reduced maintenance and servicing.
Proliferating population particularly in the emerging countries have resulted in traffic congestion and increased pollution. Usage of these vehicles in reduce the traffic congestion problem and assist in offering clean air. Stringent regulations across the globe towards reducing the air pollution will induce positive impact on the electric motorcycles & scooters market growth.
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Governments are offering tax benefits to encourage the adoption of eco-friendly vehicles. In addition, low cost compared to conventional two-wheelers will further fuel the electric motorcycles & scooters business growth. Industry participants are focusing on reducing the battery cost used in these vehicles. The price trends of these vehicles vary according to the power output. Industry players are improving the distance covered by these vehicles in single charge.
Less driving range of these vehicles along with low power output may hamper the industry growth. In addition, less presence of charging stations is the major challenge faced for the product penetration. Government are offering infrastructure development to increase the number of charging stations and reducing the time required to charge the battery.
E-motorcycles are estimated to witness strong growth over 10% from 2018 to 2024 owing to new product offerings and reduced price of the product. Industry players are focusing on competing the e-motorcycles with gasoline powered vehicles with improved speed and superior power output. Electric scooters dominate the industry share owing to less priced compared to electric motorcycles.
SLA battery dominates the electric motorcycles & scooters industry share accounting over 85% share in 2017. Low cost, ease in compatibility, and robust structure are among the key factors for segment dominance. However, these are estimated to lose its market share with introduction of lithium-ion and NiMH batteries offering reduced charging time and superior efficiency of the product.
48V batteries accounted over 35% of the electric motorcycles & scooters market share in 2017. The higher volume share can be credited to superior compatibility of these products with the e-vehicles along with desirable power output of these batteries. Adoption of 60V & 70V batteries will witness surge over the forecast timeframe. Consistent development in these batteries with reduced weight and higher power range will fuel the segment growth.
Asia Pacific dominates the electric motorcycles & scooters market volume share owing to strong demand of the product from China, Indonesia, India & Japan. Proliferating population, less price of the product, low maintenance cost and no requirement of license are the key factors for volume dominance in the region.
North America electric motorcycles & scooters market will witness growth over 16% from 2018 to 2024. The growth can be attributed to new product offering in the region. In May 2015, the European Union initiated project European Green Vehicle related to e-vehicles focusing on improving the public private partnership, reducing economic challenges and reducing carbon emissions.
Some of the key participants include Alta Motors, Hero Eco, BMW, KTM, Terra Motors Corp., Zero Motorcycle and AIMA Hi-tech. Improving the battery and motor performance, enhancing the speed range and power output are the key focus area of the industry participants. Strong value chain development and increasing the product visibility will improve electric motorcycles & scooters sales.
Browse key industry insights spread across 250 pages with 623 market data tables & 10 figures & charts from the report, “Electric Motorcycles & Scooters Market Size By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion, NiMH), By Voltage (24V, 36V, 48V) Industry Analysis Report, Regional Outlook (U.S., Canada, Austria, Belgium, Czech Republic, France, Germany, Italy, Netherlands, Poland, Slovenia, Spain, UK, China, Japan India, South Korea, Indonesia, Taiwan, Vietnam, Thailand, Malaysia Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024)” in detail along with the table of contents:
Chapter 4. Electric Motorcycles & Scooters Market, By Product
4.1. Global electric motorcycles & scooters market share by product, 2015 & 2024
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024
Chapter 5. Electric Motorcycles & Scooters Market, By Battery
5.1. Global electric motorcycles & scooters market share by battery, 2015 & 2024
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
Chapter 6. Electric Motorcycles & Scooters Market, By Voltage
6.1. Global electric motorcycles & scooters market share by voltage, 2015 & 2024
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by region, 2013-2024
6.3.1. Market estimates and forecast, 2013-2024
6.3.2. Market estimates and forecast, by region, 2013-2024
6.4.1. Market estimates and forecast, 2013-2024
6.4.2. Market estimates and forecast, by region, 2013-2024
6.5. Others (12V, 60V, 72V)
6.5.1. Market estimates and forecast, 2013-2024
6.5.2. Market estimates and forecast, by region, 2013-2024
Browse Full TOC @ https://www.gminsights.com/toc/detail/electric-motorcycles-and-scooters-market
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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