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Electric Scooter and Motorcycle Market size was valued at US$ 5560.9 million in 2020 and is projected to reach US$ 7618.5 million by 2027, at a CAGR of 4.6% - Valuates Reports
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What is the Electric Scooter and Motorcycle Market?
Electric two-wheelers, as indicates itself, is electricity-powered two-wheelers. A battery pack and a motor are installed to store and transform the electricity. User control is usually attached to the handlebar to brake and adjust the speed. Under this abstract definition, a variety of types and styles are available to consumers in the market and still developing.
Electric Scooter and Motorcycle can be classified as a combination of electric bicycle, electric scooter, electric motorcycle, and so on. The power-assisted electric scooter with pedals is also called electric bicycle in China. Hence, in this report, the statistics mainly focus on the following several kinds including E-motorcycles, E-bicycles, and E-scooters etc.
Trends Influencing the Electric Scooter and Motorcycle Market Size & Growth
The Electric Scooter and Motorcycle Market size is predicted to grow due to rising demand for high-performance and long-range electric motorcycles. Electric motorcycle demand is rising due to a shift in consumer preferences towards electric motorcycles as a result of rising harmful carbon emissions. Electric motorcycles help to minimize CO2 emissions, carbon footprints, and noise pollution, making them more popular than motorcycles powered by internal combustion engines (ICEs).
Electric Scooter and Motorcycle Market size growth is predicted to be fueled by countries enacting legislation and policies in favor of electric two-wheelers. Many governments have acknowledged the importance of electric power in reducing the rising pollution caused by automobiles.
The expansion of the Electric Scooter and Motorcycle Market will be fueled by technological advancements in the field of motors and battery management systems. For example, interior permanent magnet (IPM) engines that deliver optimum power and efficiency to improve the performance of electric bikes and scooters are being developed. As a result, the market for electric bikes and scooters will rise. The compact size and lightweight of these engines give increased power and acceleration for electric scooters and motorcycles.
The Electric Scooter and Motorcycle Market is predicted to develop due to features such as cheap operating and maintenance expenses. The rising cost of gasoline is already affecting consumers in emerging markets. Electric two-wheelers will significantly reduce these vehicles' operating costs. Electric scooters and motorcycles with a longer range than the current generation of electric two-wheelers are expected to be developed by manufacturers.
However, a lack of charging infrastructure could stifle market expansion. Users will require a comprehensive and extensive charging infrastructure network.
By Type, the Electric Scooter Segment occupies the largest market share, and segments reach 98.36%
During the projected period, the E-Motorcycle segment is expected to increase at the fastest rate. Manufacturers are concentrating their efforts on e-scooters and mopeds since they have a better design for incorporating an electric propulsion system.
By Application, Retail stores were the most used area, accounting for 92 percent of all applications
Electric Scooter and Motorcycle Market Regional Analysis
China currently holds the greatest market share for Electric Motorcycles and Scooters, and this trend is likely to continue over the projection period. In 2017, China's sales volume accounted for 93.42 percent of the worldwide market, however, this changed in 2018 due to oversupply. In 2019, China's sales share fell to 92.86 percent. At the same time, exports to Europe and the United States skyrocketed. Many Chinese manufacturers of electric motorcycles and scooters appear to be attempting to find a newly developing market.
The major players that are operating in the global Electric Scooter and Motorcycle Market are
➣Yadea
➣AIMA
➣Lvyuan
➣Sunra
➣TAILG
➣Lima
➣BYVIN
➣Wuyang Honda
➣HONG ER DA
➣Lvjia
➣Slane
➣Opai Electric
➣Supaq
➣Xiaodao Ebike
➣Sykee
➣Aucma EV
➣Terra Motor
➣Govecs
➣ZEV
➣Zero Motorcycles
➣Palla
➣Zongshen Electric Motorcycle
Electric Scooter and Motorcycle Market by Type
➣Electric Motorcycle
➣Electric Scooter
Electric Scooter type occupies the largest market share and segments reach 98.36%
Electric Scooter and Motorcycle Market by Application
➣E-Commerce
➣Retail Store
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