openPR Logo
Press release

Electric Scooter and Motorcycle Market worth 6,193 thousand units by 2027

The global electric scooter market and electric motorcycle market is expected to account for 6,193 thousand units by 2027, growing at a CAGR of 33.1% during the forecast period. Factors such as favorable government policies, growing demand for energy-efficient commuting, rising concern for emission free vehicles, rising fuel prices have compelled two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=142827777

Market Dynamics:

Driver: Low operating and maintenance costs

One of the most important factors driving the electric scooter and motorcycle market is the increasing prices of petroleum products. The increasing price of petroleum products is the primary factor driving the electric scooter and motorcycle market. Consumers from emerging countries are already affected by the increased cost of petrol. Electrical two wheelers operating on electricity would reduce the operating cost and increase their efficiency than conventional vehicles. Electronic systems are more efficient and durable than mechanical models because they break less often due to less friction and less wear. As a result, electric two wheeler vehicles last longer and reduce the environmental impact compared to fuel-powered vehicles. Manufacturers are expected to develop electric scooters and motorcycles with a higher range than the current breed of electric two wheelers. Manufacturers are expected to develop electric scooters and motorcycles with a higher range than the current breed of electric two wheelers.

Opportunity: Decreasing Battery Prices

As per the pricing analysis of current electric scooters & motorcycles, batteries account for around

60%-70% of the total cost of an electric two-wheeler. Apart from this, the majority of the vehicles require the replacement of batteries after every 4 to 5 years of usage. Thus, battery cost is the most important factor in making electric scooters and motorcycles affordable in terms of maintenance and initial cost. As the majority of the OEMs are using lithium family batteries in their electric two-wheelers, the continuous fall in the lithium battery prices would make electric scooters and motorcycles much more affordable. The price of these batteries has drastically reduced from USD 684 in 2013 to USD 132 in 2021. As per the industry experts, the price of the lithium-ion battery is likely to fall below USD 100 per kWh. A fall in battery price is critical for larger adoption in the market that would create a huge opportunity for the OEMs, as more customers would be able to afford electric scooters & motorcycles.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=142827777

The E-Motorcycle segment is expected to be the fastest-growing segment during the forecast period

The e-motorcycle segment is the fastest-growing market. Earlier, manufacturers were focusing on developing e-scooters/mopeds as they have a design more suitable to incorporate the electric propulsion system. However, e-scooters/mopeds have range and performance constraints; also, they serve the limited purpose of short distance commuting only. With e-motorcycles, users could serve different purposes such as cruising, racing, off-roading, and commuting, which would increase their demand in the future.

The Asia Pacific market is projected to hold the largest share by 2027

With the increased production of electric two-wheelers and expansion of the charging facilities network, the Asia Pacific region is estimated to be the largest electric scooter and motorcycle market, with a share of 86% in 2022 by volume. The market growth in the region can also be attributed to the rising demand for energy-efficient commuting along with several initiatives by private organizations as well as governments. The rapidly growing economy of China is driving the expansion of the electric two wheelers to reduce pollution caused by ICE vehicles in the country.

View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/electric-scooter-motorcycle-market-142827777.html

Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

One stop solution for all Market Research & Consulting needs.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electric Scooter and Motorcycle Market worth 6,193 thousand units by 2027 here

News-ID: 2739006 • Views: 144

More Releases from MarketsandMarkets™ INC.

Farm Equipment Market Projected to reach $141.6 billion by 2027
The global farm equipment market is projected to grow from USD 111.8 billion in 2022 to USD 141.6 billion by 2027, at a CAGR of 4.8% during the forecast period. The farm mechanization has shown a significant growth in the recent past and top OEMs are too investing in the same, which would further drive the demand for agriculture equipment. Though the demand for farm equipment is growing in Europe,
EV Cables Market Projected to reach $13.1 billion by 2026
The global EV Cables Market is projected to grow at a CAGR of 26.9% during the forecast period, to reach USD 13.1 billion by 2026 from an estimated USD 3.9 billion in 2021. EV cables perform different functions in electric vehicles as they aid in signal transmission and powering up of different electronic and electrical devices. They are also used to set up electrical circuits in electric vehicles, and are
Automotive Heat Exchanger Market Projected to reach $34.3 billion by 2027
The global Automotive Heat Exchanger Market is projected to grow from USD 28.9 billion in 2022 to USD 34.3 billion by 2027, at a CAGR of 3.5%. Factors such as revival of automotive industry, along with the increase in demand for hybrid and plug-in hybrid vehicles will boost the demand for the automotive heat exchangers. Increase in demand for battery thermal management systems, in conjunction with advancements in mobility solutions
Construction Equipment Market Size, Share, Trends and Forecast to 2027
The construction equipment market is estimated to grow from USD 180.4 billion in 2022 to USD 223.1 billion by 2027, at a CAGR of 4.3% over the same period. The base year for the report is 2021, and the forecast period is from 2022 to 2027. The market would witness growth owing to driving factors such as rapid urbanization, increasing infrastructure development in emerging economies, and population and migration to

All 5 Releases


More Releases for OEMs

Autonomous Heavy Truck Market Global Solution Providers, Demands, Layout of Chin …
Autonomous heavy truck market research: front runners first going public Our Autonomous Heavy Truck Industry Report, 2020-2021 carries out research into highway scenario-oriented autonomous heavy truck industry, including OEMs and autonomous driving solution providers inside and outside China. Several autonomous heavy truck companies try to list their shares for financing. The surging road freight volume and a widening gap in demand for truck drivers, promote the financing boom of self-driving heavy truck industry,
Hybrid Additive Manufacturing Machines Market: Rising Awareness among OEMs
The global hybrid additive manufacturing machines market is prophesied in a report by Transparency Market Research (TMR) to find players putting high emphasis on development of new products to boost their brand positioning. This could be evident with the launch of LUMEX Avance-25 by Matsuura Machinery Corporation in 2016. Introduction of new products could also help players to outshine their competitors in the market. Stratasys Ltd., Mazak Corporation, and DMG
Hybrid Additive Manufacturing Machines Market - Rising Awareness among OEMs
The global hybrid additive manufacturing machines market is prophesied in a report by Transparency Market Research (TMR) to find players putting high emphasis on development of new products to boost their brand positioning. This could be evident with the launch of LUMEX Avance-25 by Matsuura Machinery Corporation in 2016. Introduction of new products could also help players to outshine their competitors in the market. Stratasys Ltd., Mazak Corporation, and DMG
OEMs in Chinese ADAS Market – Changan Automobile, 2017
Changan Automobile sold 1.0582 million cars in 2017, down 7.1% from a year ago, largely due to a plunge of 41.0% in sedan sales to 189,100 units, whereas 646,000 SUVs were sold in the year, up 19.5% over the previous year, becoming a major growth engine. Meanwhile, ADAS is mostly installed on SUVs. More Information: https://www.researchbymarkets.com/report/oems-in-chinese-adas-market-changan-automobile-2017-9283.html ADAS makes its way into a few Changan models, mostly installed on best-selling and top-end models,
Distributors can help reduce costs for OEMs by GD Rectifiers
More distributors are providing design support today to help OEM customers, ranging from maintaining data-rich websites complete with datasheets and reference designs to offering customers full-blown design services on a bespoke consultancy basis. Purchasers at many OEMs often choose a select few distributors in certain countries/regions to have exclusive rights to their product lines, the distributor provides supply chain value and value-added services that can reduce cost and risk. Many customers
Neurology Devices Market: Regulatory Hindrances to Force OEMs to Prod Emerging E …
Neurological disorders-conditions that affect the nervous system-are on the rise, and so is the demand for treating these conditions. This, in turn, has given the demand for neurology devices a fillip. The market for neurology devices is currently in expansion mode, and this research report charts this growth path between 2013 and 2019. Given that about 12% of all deaths globally are related to neurological disorders, the growth of the