Trends in the Market Electric Motorcycles & Scooters Industry 2018 Harley-Davidson Motor, American Honda Motor, KTM, Suzuki Motor of America, Yamaha Motor Corporation, USA, Zero Motorcycles

Electric Motorcycles & Scooters Market size is estimated to surpass USD 22 billion by 2024; according to a new research report by Global Market Insights, Inc. Lithium-ion battery is expected to witness highest growth in electric motorcycles & scooters market at around 11% over the forecast timeframe owing to their high charge density, light weight and high charging discharging efficiency. In 2018, KTM announced the introduction lithium-ion batteries that offer 50% more power range than its prior model. In addition, these batteries are swappable and can be installed in their conventional bike models.

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Electromagnetic principle is utilized for the operation of an e-vehicle and the only factors that contribute to the loss of efficiency are the transmission lines and the friction. Owing to this, the motors utilized in these vehicles offer an efficiency of over 85 to 90%, which is very high in comparison to their ICE powered vehicles offering thermal efficiencies in the range of 40%. In addition, plug-in powered vehicles offer least contribution to the greenhouse gases and air pollution, thus, contributing towards the improvement of air quality in the cities. These factors are expected to present viable growth landscape in electric motorcycles & scooters market over the forecast period.

In 2017, scooters dominated the electric motorcycles & scooters market by capturing over 85% share. This can be attributed to its increased adoption in the urban areas, where high motor traffic is among the major transportation problems. The scooters are designed light weight for easy maneuverability and offer speeds ranging across 30 miles per hour, at reduced ownership costs and are preferred modes of transportation, specifically in the metro cities.

48V battery dominates the electric motorcycles & scooters market, accounting for over 35% volume share in 2017. Superior power output along with ease in compatibility of these batteries with e-vehicles will drive the segment growth. Vehicles equipped with 60V & 70V will witness strong growth over the forecast timeframe owing to constant R&D in enhancing the speed of the vehicle.

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Favourable regulatory standards and incentive plans imposed by the regional authorities will also fuel the electric motorcycles & scooters market growth over the forecast period. For instance, in 2010, Province of Ontario realized the Green Plate and Electric Vehicle (EV) rebate program that offered the owners with significant cost savings on maintenance, fuels, and access to high-occupancy vehicle (HOV) lanes. Such programs are expected to boost the users’ motivation towards the adoption of electric motorcycles & scooters and aid in enhancing the global recognition of the role of these vehicles in reduction of greenhouse gases and harmful pollutants emissions across the globe.

Asia Pacific dominates the overall electric motorcycles & scooters market share owing to strong presence of industry player in China, India, Japan & Indonesia. Traffic congestion, rising population, concern regarding environment and low price of these vehicles compared to conventional vehicles have resulted in strong consumer preference.

Europe electric motorcycles & scooters market will witness strong growth at over 15% by 2024. The European government is planning to increase EV sales to improve the air qual. Twenty-seven European countries have started imposing taxes on carbon dioxide emissions related to vehicles and 15 nations are providing tax incentives for e-vehicles. In May 2015, the EU started a project under the European Green Vehicle initiative co-founded by the European Commission related to electric two wheelers. EGVI is a public-private partnership delivering green vehicles matching social, environmental, and economic challenges.

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Global automotive glass market share is consolidated in nature with the presence of key players including Saint Gobain Sekurit, AGC, Nippon, Xinyi, Guardian and Fuyao accounting for major industry share in 2017. Other notable players include Magna International, Inc., Shenzhen Benson, PGW, Gentex Corporation and Webasto.

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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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