Electric Motorcycles & Scooters Market Growth Analysis 2024 By Top Key Players – Alta Motors, Hero Eco, BMW, KTM, Terra Motors Corp., Zero Motorcycle and AIMA Hi-tech & More

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.

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Global electric motorcycles & scooters market is anticipated to exceed USD 22 billion over the forecast timeframe. Shifting trends towards usage of e-vehicles owing to environmental benefits will drive the electric motorcycles & scooters market. Increasing consumer awareness towards e-mobility assisting in reducing carbon emissions over the conventional vehicles will improve the product penetration.

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.

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.

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.
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.

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Table of Content:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Electric Motorcycles & Scooters Industry Insights

Chapter 4. Electric Motorcycles & Scooters Market, By Product

Chapter 5. Electric Motorcycles & Scooters Market, By Battery

Chapter 6. Electric Motorcycles & Scooters Market, By Voltage

Chapter 7. Electric Motorcycles & Scooters Market, By Region

Chapter 8. Company Profiles

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