Rising Concern Regarding Environmental Degradation Driving Electric Scooter and Motorcycle Market

The global electric scooter and motorcycle market is projected to attain $13,864.0 million in 2025 advancing at a 7.3% CAGR during the forecast period (2018-2025). The market is growing due to the provision of tax concession on eco-friendly vehicles, low maintenance of these vehicles, favorable regulatory environment, and rising concern regarding environmental degradation. In terms of product, the market is bifurcated into motorcycle and scooter, between which, electric scooter held the larger volume share of the market during the historical period (2013-2017) due to lower cost.

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Among the different regions, namely Middle East and Africa (MEA), Asia-Pacific (APAC), North America, Latin America (LATAM), and Europe, the APAC region dominated theelectric scooter and motorcycle market during the historical period, with a share of more 90.0% in 2017, in terms of value, and is further projected to account for the major share of the market during the forecast period. In the region, China held the largest share of the market because of its large population and rapid urbanization. The fastest growth is expected to be witnessed by Europe during the forecast period.

The electric scooter and motorcycle market is also witnessing growth due to the fact that these vehicles are low maintenance. Electric scooters and motorcycles have fewer moving and vibrating parts which is why the need for periodic servicing is reduced for them as compared to conventional vehicles. Because of these factors, they have gained huge traction among the people who are not capable of assigning extra time for vehicle servicing and routine maintenance from their work schedule. In addition, huge cost reduction is also a major factor leading to the rising adoption of these vehicles.

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Electric Scooter and Motorcycle Market - Competitive Landscape

The electric scooter and motorcycle market is highly fragmented. New product launches and joint ventures have been the key strategies of the major players to expand their presence in the international market. Yadea Technology Group Co. Ltd. is the major player in the market. The company operates in around 50 countries, the most among all the players. The company has also been making acquisitions to bolster its product portfolio and expanding its facilities to meet the rising demand for the electric two-wheelers, both in China and abroad.

The other players in the electric scooter and motorcycle market include GOVECS Group, Ampere Vehicles Pvt. Ltd., Vmoto Limited, Hero Electric Vehicles Pvt. Ltd., Energica Motor Company S.p.A., and BMW.

Market Segmentation by Product

Scooter
Motorcycle
Market Segmentation by Battery Type

Sealed lead acid (SLA)
Lithium-ion (Li-ion)
Market Segmentation by Voltage

36 V
48 V
60 V
Others (Primarily includes 24 V and 72 V)
Market Segmentation by Technology

Plug-in
Battery

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This release was published on openPR.