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E-Bike and Scooter Demand and Trend in North American Region - Business Revenue Forecast

07-01-2020 12:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

E-Bike and Scooter Demand and Trend in North American Region -

The North America electric scooters and motorcycles market attained a size of $154.8 million in 2018, and it is predicted to progress at a CAGR of 28.4% during the forecast period (2019–2024). The factors driving the growth of the market are government incentives and federal tax credits, low maintenance cost of such vehicles, and emergence of sharing services. Further, the amount of investments being made in e-two-wheeler manufacturing companies is increasing at a significant rate. Electric scooters and motorcycles are scooters and motorcycles that use rechargeable battery for moving.

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On the basis of type, the electric bike market in North America is divided into scooter, kick scooter, and motorcycle. Out of these, in 2018, in terms of volume, the kick scooter category dominated the market. This is ascribed to the growing usage of electric kick scooters for sharing services, as these are eco-friendly, economical, and easy to ride. Furthermore, e-kick scooters, as compared to others, have low operating cost, resulting in an increasing adoption rate of these vehicles, further resulting in its dominance in the historical period.
Coming to the batter capacity, the North American electric scooters and motorcycles sector is classified into more than 15 kWh, 10–15 kWh, 5–10 kWh, and less than 5 kWh. Among these, in 2018, electric scooters and motorcycles with less than 5 kWh battery capacity held the largest volume share in the market, of more than 90.0%. This is attributed to the sudden rise in the demand for kick scooters for sharing services and increase in their usage by individuals, who mostly preferred vehicles powered by batteries with a capacity of less than 5 kWh.

Based on country, the electric scooters and bike market in North America is bifurcated into the U.S. and Canada, of which, the U.S. accounted for a contribution of nearly 85.0% in the market in 2018 in terms of volume. The major factors driving the growth of the sector in the U.S. are the increasing adoption of electric vehicles, government support in the form of financial and non-financial incentives for the acquisition of these vehicles, and a large passenger base. Hence, the growing inclination toward such electric vehicles in the U.S. is predicted to boost the market in North America.

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Currently, the electric scooter sharing service niche is witnessing rapid development and is in a process of evolution. These services have been available in North America since 2012, but only in the last two years, e-scooters emerged in the domain. Such sharing services are an attractive option for shared mobility, as these are easy to operate, compact, and do not ask for any physical exertion. In addition to this, the size of the battery used in these scooters is lesser, compared to other electric vehicles, which makes e-scooters easier to charge.

Therefore, with the emergence of electric scooters in the sharing fleet, the North American electric scooters and motorcycles market is expected to witness significant growth.

Contact: P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: http://psintelligence.blogspot.com/

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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