Global Electric Scooters and Motorcycles Market is estimated to be valued at over US$ 20 Bn in 2020

Global Electric Scooters and Motorcycles Market Drivers and Challenges

Global electric scooters and motorcycles market primarily driven by large presence of OEM and government initiative towards sustainable growth. Moreover, increase in disposable income of working class population is creating favorable demand for electric two wheelers. Increase in awareness is also playing a key role in overall development of electric scooters and motorcycles market. Electric scooters and motorcycles market account for over 2.5% of total two wheelers on road. This share is expected to touch 8% by 2023.

Increasing interest from large scale manufacturers and decline in battery costs by 65% will create a favorable market landscape for electric motorcycles and scooters players. Various players such as Harley Davidson and Yamaha are poised to expand their product offerings into this space. It is expected that a total of 129 million units of electric scooters and motorcycles will be running on the road by 2028.

The industry is also witnessing increase in number of dealership. For instance, in India total dealers are somewhere close to 300 which is 50% higher compared to that in 2013. Companies are focusing on online sales platform to further increase their business presence. In 2016, Hero Electric sold around 500 electric two wheelers through online channel - Paytm. Share of online channel will further increase with digitization.

Global Electric Scooters and Motorcycles Market Analysis, By Vehicle Type

By vehicle type, global electric scooters and motorcycles market is segmented into Motorcycles and scooters. While electric scooters will continue to dominate the market, motorcycles will register fastest CAGR during the forecast period. Over 5 million units of electric scooters are expected to be sold in 2018.

electric scooter market trends and developments in 2019

Global Electric Scooters and Motorcycles Market Size Analysis, By Battery Type

By battery type, lithium ion will continue to dominate the industry owing to light-weightiness and high power efficiency. Furthermore, the percent share will increase with advancement in lithium ion technology.

Global Electric Scooters and Motorcycles Market Size and Forecast: Regional Analysis

Globally, Asia Pacific will dominate the global electric scooters and motorcycles market size. In 2018, Asia Pacific and Western Europe accounted for over 89% of total sales.

Asia Pacific is primarily dominated by China and India. Various key development took place in the China market in last few years. The country not only leads in overall sales but also in production capacity. Sales is highly fragmented with presence of many players. Yadea, Aima, Zhejiang Luyuan collectively accounted for nearly 23% of overall sales in 2017 in China. It is a major exporter of e-vehicles in Europe and Africa. Yangtze River Delta and Bahai Economic Rim are two special zone in China, wherein, much of the production takes place. Companies in China are focused towards product level strategy to expand their market share. For instance, Chinese firm Niu is using a combination of big data and IoT to create smart e-scooter.

Another major Asia Pacific country - India - is witnessing market consolidation. Top 3 players account for over 80% of market share. Honda Motorcycle & Scooter India, Hero MotoCorp, Yamaha, TVS Motor Mahindra Two Wheelers, and Bajaj Auto have scheduled launches of electric two-wheelers from 2018.

Global Electric Scooters and Motorcycles Market Size and Forecast: Competition Landscape

Some of the key Electric Scooters and Motorcycles market industry players are Yadea, Aima, Zhejiang Luyuan, Niu, Amego Electric, Alta Motors, Energica Motor Company, BMW, Govecs Group, Honda Motors, KTM, Mahindra GenZe, Sunra, Suzuki Motors Corporation, Terra Motors Group, Victory Motorcycles, Yamaha Motors, Zero Motorcycle, Z Electric Vehicle, and Shandong Incalcu Electric Vehicle.

Industry Segmentation

By Vehicle Type:

Electric Scooters
Electric Motorcycles
By Battery Type:

Lithium Ion
Ni-MH
Sealed Lead Acid (SLA)
By Technology:

Plug In
Extended Battery
By Voltage:

24 V
36 V
48 V
>48 V

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Malcolm
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malcolm@bekryl.com

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This release was published on openPR.