Rising E-Mobility Trends To Foster Electric Motorcycles & Scooters Market Forecast 2026
Governments across the globe are offering grants, incentives and subsidies on the purchase of new electric vehicles in a bid to promote e-mobility. In addition, several emerging players, such as Pedego Electric Bikes, Gogoro, and Segway are partnering with scooter sharing firms to cater to the growing demand for ridesharing.
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Implementation of strict vehicular emission norms by several countries including Canada, China, Japan, U.S. and others is aiding large-scale adoption of electric scooters and motorcycles for routine commute. Reports suggest that global electric motorcycles & scooters market size will cross the USD 40 billion mark by 2026.
The e-mobility trend is on rise. In the third quarter of 2019, around 45 EV companies across the world showed a total fund raising of USD 2.7 billion. However, the COVID-19 outbreak has led to a slowdown in electric motorcycles & scooters industry growth in 2020. Shortage of raw materials, labor and restrictions on movement have led to a temporary shutdown of many automobile manufacturing facilities, globally.
The rising consumer inclination toward buying essential items is hindering the sales of high cost products like electric scooters & motorcycles. The EV businesses will gain traction again, once the restrictions are lifted.
Electric motorcycles are experiencing high demand on account of the advancement in battery and powertrain technologies. The technological developments are offering superior engine performance as well as high, controlled speeds to electric motorcycles. Growing demand for efficient, low noise and long range transport solutions is one of the key factors fueling the demand for electric motorcycles. In addition, grants and subsidies provided by governments on the purchase of electric motorcycles will further boost product sales in the coming years.
24V batteries are likely to witness higher adoption in electric scooters as they provide short distance ranges that are ideal for daily commute in densely populated urban cities. These batteries contain a smaller number of cells, due to which they are lightweight and cost-effective. Rising trend of electric scooter sharing services in cities will drive the demand for 24V batteries.
The alarming levels of carbon emission in Asia Pacific region is creating a huge demand for environment friendly mode of transportation. This has led to increased adoption of e-mobility solutions in Asian countries including China and India. In addition, the emergence of several Electric Motorcycles & Scooters Market manufacturers including Ultraviolette Automotive Pvt. Ltd., and Emflux and in India will boost regional industry growth over the analysis period.
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Major producers and developers of Electric Motorcycles & Scooters Market include Amper Vehicles, Harley Davidson, Shandong Incalcu Electric Vehicle, Lightning Motorcycles, Mahindra GenZe, Energica Motor Company S.p.A, Govecs Group, KTM, Z Electric Vehicle and Zero Motorcycles, among others.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and forecast parameters
188.8.131.52. Assumptions, methodology and forecast parameters
1.2. Data Sources
Chapter 2. Electric Motorcycles & Scooters Market Summary
2.1. Electric motorcycles & scooters industry 360° synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product trends
2.1.4. Battery trends
2.1.5. Voltage trends
Chapter 3. Electric Motorcycles & Scooters Market Insights
3.1. Industry segmentation
3.2. Impact of COVID-19 on electric motorcycles & scooters industry landscape
3.2.1. Global outlook
3.2.2. Regional impact
184.108.40.206. North America
220.127.116.11. Asia Pacific
18.104.22.168. Latin America
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