Electric Scooter and Motorcycle Market Report- Technology, Distance Covered, Voltage, Vehicle Class, Region - Global Forecast to 2027
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Top Company Profile Analysis in this Report- Yadea Group Holdings Ltd. (China), Jiangsu Xinri E-Vehicle Co., Ltd. (China), NIU International (China), Silence Urban Ecomobility (Spain), and Hero Electric (India).
The global electric scooter and motorcycle market size is projected to reach 5,948 thousand units by 2027, from an estimated 861 thousand units in 2020, at a CAGR of 31.8%. Governments are supporting electric two-wheelers through subsidies & tax rebates and by building charging infrastructure with the help of OEMs, which is compelling two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers.
Increased demand for efficient and eco-friendly vehicles will boost the electric scooter and motorcycle market. Consumers from developing countries are already feeling the heat of the increasing cost of petrol. Electrical two-wheelers will run on electricity, which is expected to reduce the operating cost of these vehicles. However, the lack of charging infrastructure creates a hurdle for the growth of the electric scooter and motorcycle market. To make the electric two-wheeler market grow, a large charging infrastructure network is needed so that users could cover long distances without bothering about searching for a charging station.
However, COVID-19 pandemic is expected to have a slight impact on the electric scooter and motorcycle market. Both the production and sales of new rail vehicles have come to a halt across the globe as the whole ecosystem has been disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business. Post the pandemic, the demand for two-wheelers might increase, as people will avoid public transport, preferring private vehicles to avoid crowds. In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues. The automotive industry is capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the outbreak and lower demand post the pandemic will have an unprecedented impact on electric scooter and motorcycle providers.
The 48V segment is larger due to its extensive usage in electric scooters/mopeds, as it provides a better range per charge compared to 36V in low-speed electric scooter applications. Players such as Hero Electric and Okinawa have experienced huge growth in the 48V segment. It is estimated that the 72V segment will grow at a higher rate than other segments due to its higher energy efficiency and increasing demand for high-performance electric scooters and electric motorcycles.
The economy class segment is projected to be the larger segment in the electric scooter and motorcycle market during the forecast period due to the less initial price as compared with the luxury segment and growing demand for affordable commuting. These kinds of electric scooters and motorcycles sell mostly in developing countries as an affordable alternative to other commuting options such as public transport buses and trains. Several well-established two-wheeler manufacturers have entered the Economic segment. For instance, companies such as Hero Electric, Pure EV, Okinawa, Ampere, TVS cater to the economy segment in the Indian market. Similarly, the Chinese market is dominated by such two-wheelers manufactured by Yadea, Jiangsu Xinri, and Luyuan.
The sealed lead acid battery is one of the earliest types of rechargeable battery, and it consists of lead peroxide and sponge lead that convert chemical energy into electrical energy. Low cost, delivery of high currents, and low internal impedance are some advantages of lead acid batteries. Asia Pacific is expected to lead the lead acid segment of the electric scooter and motorcycle market during the forecast period. Asia Pacific is dominated by affordable electric scooters/mopeds. Hence, lead acid batteries are being used by many Asian manufacturers to keep the pricing on the lower side. For instance, Hero Electric and Ampere Vehicles have been offering electric scooters with Li-ion as well as lead acid battery options in the Indian market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
By Company Type:Tier I - 37%, Tier II - 48%, and OEMs - 15%
By Designation: C Level Executives - 26%, Directors - 42%, and Others - 32%
By Region: North America - 37%, Europe - 33%, and Asia Oceania - 30%
The market study covers the electric scooter and motorcycle market size and future growth potential across different segments such as by vehicle type, battery type, distance covered, voltage, technology, vehicle class, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric scooter and motorcycle market and its sub segments.
This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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Table Of Contents in this Report-
1.1 Objectives Of The Study
1.2 Product Definition
1.2.1 Inclusions & Exclusions
Table 1 Inclusions & Exclusions For Electric Scooter And Motorcycle Market
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Electric Scooter And Motorcycle Market Segmentation
1.3.2 Years Considered For The Study
1.4 Volume Unit Considered
1.7 Summary Of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Electric Scooter And Motorcycle Market: Research Design
Figure 3 Research Methodology Model
2.2 Secondary Data
2.2.1 Key Secondary Sources
2.2.2 Key Data From Secondary Sources
2.3 Primary Data
Figure 4 Breakdown Of Primary Interviews
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
Figure 5 Market Size Estimation: Bottom-Up Approach
2.4.2 Top-Down Approach
Figure 6 Market Size Estimation: Top-Down Approach
2.5 Market Breakdown And Data Triangulation
Figure 7 Data Triangulation
2.6 Market Scope & Assumptions
3 Executive Summary
Figure 8 Electric Scooter And Motorcycle Market: Market Dynamics
Figure 9 Electric Scooter And Motorcycle Market (Volume), By Region, 2020–2027
Figure 10 Electric Scooter/Moped Segment To Have The Largest Share In The Electric Scooter And Motorcycle Market, 2020 Vs. 2027
3.1 Covid-19 Impact On Electric Scooter And Motorcycle Market, 2017–2027
4 Premium Insights
4.1 Attractive Opportunities In The Electric Scooter And Motorcycle Market
Figure 11 Increasing Demand For Efficient & Emission-Free Commuting To Drive The Market
4.2 Electric Scooter And Motorcycle Market Growth Rate, By Region
Figure 12 Asia Pacific Projected To Be The Largest Market
4.3 Electric Scooter And Motorcycle Market, By Vehicle Type
Figure 13 E-Scooter/Moped Segment To Be The Largest Segment, 2020 Vs. 2027 (Thousand Units)
4.4 Electric Scooter And Motorcycle Market, By Battery Type
Figure 14 Lithium-Ion Segment Expected To Be The Fastest-Growing Segment, 2020 Vs. 2027 (Thousand Units)
4.5 Electric Scooter And Motorcycle Market, By Distance Covered
Figure 15 Below 75 Miles Segment Projected To Be The Largest Segment, 2020 Vs. 2027 (Thousand Units)
4.6 Electric Scooter And Motorcycle Market, By Voltage
Figure 16 48v Segment Projected To Be The Largest Segment, 2020 Vs. 2027 (Thousand Units)
4.7 Electric Scooter And Motorcycle Market, By Technology
Figure 17 Plug-In Segment Projected To Be The Largest Segment, 2020 Vs. 2027 (Thousand Units)
4.8 Electric Scooter And Motorcycle Market, By Vehicle Class
Figure 18 Economy Segment Projected To Be The Largest Segment, 2020 Vs. 2027 (Thousand Units)
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