Why the Electric Motorcycles & Scooters Market Is Set To Explode? | Global Players are AIMA, Alta Motors, Amego Electric, Amper Vehicles, BMW, Energica Motor Company S.p.A, Govecs Group, Harley Davidson, Hero Eco, Honda Motors, KTM, Lightning Motorcycles,

As startups have now begun to penetrate electric motorcycles & scooters market, the vertical seems to be on the verge of witnessing a ferocious competition. For instance, in the U.S., many skateboard manufacturers have been investing in development of electric scooters. Popular skateboard manufacturing companies such as Bird, Spin, and LimeBike have deployed dockless electric scooters on West Coast and other bigger cities across U.S. In order to generate substantial remuneration, these scooter manufacturers are increasingly investing in research and development activities. With the launch of advanced versions of e-vehicles, U.S. electric motorcycles and scooters market is slated to register a CAGR of more than 16.4% over 2018-2024.

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Powered by the massive OEMs influx in the automotive space, electric motorcycles & scooters market has observed a steady growth over the past few years. Considerable environmental benefits associated with the e-vehicles over gasoline powered substitutes is playing an instrumental role in driving the market growth. Government's pressure on reducing the carbon footprints have resulted in an increased consumer dependency on green transportation. In addition to this, superior product quality, lower maintenance requirement, and outstanding reliability of these vehicles have further allowed the demand curve to grow higher.

Favorable incentive structure such as tax concessions has also substantially encouraged the adoption of e-vehicles. The need to streamline urban mobility and transportation infrastructure is providing a significant push to electric motorcycle & scooter market dynamics. As the products used in e-vehicles meet the essential criteria in terms of air quality, ecology, and energy security, the sales of these electric two-wheelers are anticipated to accelerate massively in the years ahead. However, high cost of the batteries used in these vehicles may somehow deter the sale rate of these vehicles. Amidst this scenario, key industry players are vigorously moving toward renewable (solar) energy adoption to reduce the battery cost - one of the popular trends underlining the strategic landscape of electric motorcycle & scooter market.

Another pivotal factor determining the adoption of batteries is the efficiency, which has been given utmost importance. Driven by this trend, the consumer preference has observed a migration to lithium ion battery embedded electric vehicles, which has resulted in a phenomenal expansion of global lithium ion battery market. Despite the high cost associated with these batteries, the segment is grabbing a phenomenal name in the electric motorcycle & scooter market, owing to its supreme efficiency both in terms of charging and discharging. Add to it, their low weight when compared to the lead acid counterparts is also soaring the demand of these batteries. As per estimates, Lithium ion battery based electric motorcycles & scooters market is forecast to register a CAGR of 11% over 2018-2024.

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The aforementioned statistic also hints toward a rivalry of sorts between SLA and Li-ion batteries, in terms of market dominance. For the record, SLA batteries accounted for more than 85% of the overall market share in 2017, driven by the affordability quotient, compatibility, and presence of myriad manufacturers primarily in the APAC belt. Speaking along similar lines, Asia Pacific leads the global electric motorcycles & scooters market landscape, with China, India, and Japan as major growth avenues. The regional market has been progressing strikingly due to a confluence of several factors such as government support, expansive urbanization, industry shifts, and private consumer demand. For the record, China is touted as the largest electric car market.

In terms of competitive hierarchy, the global business space is fragmented with a large number of regional as well as global players. In the backdrop of such dynamic rivalry, product innovations, technological advancements, and strategic collaborations are the top-notch parameters defining the success of the industry players. Some of the renowned names in electric motorcycles & scooters market include Yamaha, BMW, Harley Davidson, KTM, and Energica Motor Company. One of the anticipated trends to watch for remains how the emerging rental e-vehicles further impact the overall industry outlook in the ensuing years.

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