China Electric Scooters and Motorcycles Market growing at a CAGR of 6.1%, P&S Intelligence

China electric scooters and motorcycles market is forecasted to reach over $12 billion by 2025, growing at a CAGR of 6.1%, P&S Intelligence.

Increasing pollution awareness among people and growing urbanization are driving the growth of the market. Electric scooters and motorcycles use electric battery for propulsion and do not produce any emissions. Moreover, these electric two-wheelers are virtually silent and do not cause noise pollution. Electric two-wheelers can manoeuvre through congested streets; can be charged from traditional wall outlets and can have a removable battery.

As per the findings of research, lead acid powered electric scooters and motorcycles contributed majority of the industry sales, however, the share of lithium-ion battery powered two-wheelers is expected to grow significantly over the forecast period due to the declining prices of lithium-ion batteries and its advantages over lead acid battery. Electric scooters being simple and smart are best suited for delivery services such as in fast food joints and e-commerce. The demand of electric two-wheelers for delivery services is driving its sales, given the growth of e-commerce and internet penetration in the country. Electric scooters and motorcycles are expected to become a mainstay for such services in future.

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On the basis of voltage, the 48V battery powered scooters account for a majority of industry sales, as these two-wheelers provide sufficient power to ride on congested roads, at a reasonable price. Based on technology, plug-in electric scooters and motorcycles accounted for majority sales during the historic period and it will continue to dominate the country sales over the forecast period.

The growing urbanization in China is expected to benefit the sales of electric two-wheelers in the country over the forecast period. In 2011, population living in the cities in China crossed 50% and by 2030 it is expected that urbanization rate in the country would reach 65%-70%. Due to the growing urbanization, the transport demand from the medium and small cities is increasing. The travel profile in these cities typically involves short and frequent drives, for which electric scooters and motorcycles are most suited. Moreover, with low density of population and ample spaces, the development of charging infrastructure would be relatively easier in small cities compared to the bigger ones.

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Fragmented market structure

The research states that the Chinese electric scooters and motorcycles industry is fragmented, where the top three players, namely Yadea Group Holdings Ltd, AIMA Group and Zhejiang Luyuan Electric Vehicle Co Ltd, together account for less than 30% of sales. The remaining market revenues are shared by many companies in the market each accounting for a small share in sales.

The competition in the market is fierce with many small privately-owned companies trying to gain share in the market. A large number of players has led to cut throat competition in the market, which has been majorly price driven. Due to cost sensitivity of the end user, the companies in the past have offered value of money products at competitive prices. However, nowadays the companies (especially the leading players) have started focusing more on product quality, brand building and after sale services. It is expected that these parameters would gain importance in future and further increase the competition in the market.

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This release was published on openPR.