Asia-Pacific (APAC) Electric Scooters and Motorcycles Market Growth Led by China and India

With more than 2.3 billion city dwellers, Asia-Pacific (APAC), for the first time in 2019, became a region with the majority of its population living in urban areas, as per the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). As an increasing number of people are migrating to cities, the demand for urban transportation modes is also rising. This had led to an enormous surge in the sale of automobiles in the region in the last 10–15 years. Consequently, the level of toxic gases in the air has also grown, due to the combustion of gasoline and diesel in vehicles.

Therefore, numerous governments in the region are offering their support, in the form of subsidies and incentives, to those who purchase electric vehicles (EVs) as well as those who manufacture them. As a result, the APAC electric scooters and motorcycles market is projected to see its sales volume increase to 31.2 million units by 2025, at a 7.6% CAGR during 2018–2025. As such automobiles do not burn any fossil fuel, rather are powered purely by an electric motor and battery, they result in close to no operational emissions.

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China is currently the largest electric scooters and motorcycles market in APAC, especially as a result of the $10,000 subsidy the government began offering in 2017 on every EV purchase. Due to its high level of urbanization and industrialization, China is one of the most polluted nations on earth, which is why the focus on reducing the emissions is particularly high here. In the coming years, a rapid rise in the uptake of electric motorcycles and scooters in the region would be witnessed in India, powered by the national government’s $1,460 million (INR 10,000 crore) investment for EV purchase as well as targets to install 2,700 charging stations in major cities by 2023.

APAC ELECTRIC SCOOTERS AND MOTORCYCLES MARKET

By Product – Scooter and Motorcycle
By Battery Type – Sealed Lead Acid (SLA) and Lithium-ion (Li-ion)
By Voltage – 36V, 48V, 60V, and 72V
By Technology – Plug-in and Battery
By Country – China, Japan, India, South Korea, ASEAN, Rest of Asia-Pacific

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Therefore, with extensive government support, in the wake of the degrading air quality, the uptake of electric scooters and motorcycles will continue increasing in APAC.

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This release was published on openPR.