Press release
Rising Environmental Concerns Propel Demand for Electric Scooters and Motorcycles in North America
The electric scooters and motorcycles industry based in North America is projected to rise in the coming years. It is led by the rising traction of electric scooter-sharing fleets, government initiatives in the form of subsidies and tax credits for their adoption, and the low-maintenance electric scooters and motorcycles' nature.Under the type segment, the electric kick scooter category captures a significant share of the North America-based motorcycles and electric scooters industry. It is led by low maintenance requirements, low prices, and user-friendly characteristics. It is projected to hold the largest industry share, in terms of volume, in the near future.
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The >15 kilowatt-hours (kWh) battery capacity is projected to experience the fastest growth in the near future. It is led by increasing demand for long-range and high-speed electric motorcycles in the region.
Under the application segment, the sharing service is projected to lead the North American scooters and motorcycles industry in the coming years. Sharing services eliminate vehicle-owning and maintenance hassles and solve the last-mile commuting problem of people.
Electric scooters and motorcycles with Li-ion batteries capture a significant industry share, and it is projected to lead the industry in the coming years. The low cost of Li-ion batteries, and their benefits, such as lower weight, and longer life compared to lead-acid batteries boost the demand for batteries.
In addition, electric scooters and motorcycle manufacturers are consistently focusing on procuring batteries with higher energy density and low cobalt reliability. As, it is an expensive raw material, its reduced usage results in high operational efficiency of batteries, and lower cost.
The government initiatives to offer significant support in the form of tax rebates, and initiatives to reduce greenhouse gas emissions fuel the sales of motorcycles and electric scooters in the region. The U.S. is the next largest GHG emitter, after China.
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Numerous government authorities strongly focus on green transportation system adoption, and that does not contribute to the existing pollution problem aggravation.
The major players operating in the industry are; Energica Motor Company S.p.A., KTM North America Inc., Razor USA LLC, TORROT ELECTRIC EUROPA S.p.A., Bell Custom Cycles, Harley-Davidson Inc., and Zero Motorcycles Inc.
The rising environmental concerns propel the North America-based electric scooters and motorcycle industry.
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