Electric Motorcycles & Scooters Market Comprehensive Analysis By 2024 - Top Player - BMW of North America, Energica Motor Company, Harley-Davidson Motor, American Honda Motor, KTM, Suzuki Motor of America, Terra Motors, Yamaha Motor, Zero Motorcycle

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. 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%.

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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.

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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1.AIMA
2. Alta Motors
3. Amego Electric
4. Amper Vehicles
5. BMW
6. Energica Motor Company S.p.A
7. Govecs Group
8. Harley Davidson
9. Hero Eco
10. Honda Motors
11. KTM
12. Mahindra GenZe
13. Lightning Motorcycles
14. Shandong Incalcu Electric Vehicle Co. Ltd
15. Sunra
16. Suzuki Motors Corporation
17. Tailing Electric Vehicle Co. Ltd.
18. Terra Motors Corp
19. Victory Motorcycles
20. Vmoto Limited
21. Yamaha Motors
22. Z Electric Vehicle
23. Zero Motorcycle

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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.

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.

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.

Favorable 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.

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Few major players include AIMA Hi-tech, Alta Motors, Sunra (Jiangsu Xinri E-Vehicle Co.), Zero Motorcycle, Terra Motors Corp, KTM, BMW, and Hero Eco. Electric motorcycles & scooters market players are focusing on developing efficient batteries and motors to ensure high performance. In addition, manufacturers are focusing on improvement in distribution chain of these vehicles.

About Global Market Insights:

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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