Electric Scooter and Motorcycle Market Dominated by APAC

The electric scooter and motorcycle market was USD 24,816 million in 2022, and it will grow at a rate of 17% in the years to come, and reach USD 87,139 million by 2030, as per the report by P&S Intelligence.

While, motorcycles will register faster growth in the years to come. This high growth can be credited to the increase in demand for high-speed two-wheelers, a surge in the count of two-wheeler manufacturers, and high research spending by auto giants.

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The battery technology category will have a significant growth in the years to come, This can be credited to the affordability of battery-driven scooters. Though, the plug-in category will hold a larger market share by 2025, regarding value, because of its lower cost and easy operability.

Some of the initiatives comprise purchase rebates, tax exemptions, and monetary incentives for buyers of e- vehicles. These factors are significantly accountable for the increase in the expansion and acceptance of these vehicles by users globally, which, in order, drive the industry.

The 48 V battery had the largest revenue share in the past, and it will also maintain its dominance in the near future.

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APAC dominated the electric scooter and motorcycle market with around 92%, in the past, and it will maintain its dominance in the years to come. The development in the region can be credited to increasing development, growing per capita income, and favorable policies of the government for e-vehicles, which are subsequent in the high acceptance of e-scooters and motorcycles.

It is because of the increasing focus of OEMs to manufacture electric vehicle, the demand of the e-scooters and motorcycles will increase in the near future.

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This release was published on openPR.