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Asia-Pacific Electric Scooters and Motorcycles Market by Product Scooter, Motorcycle by Battery Type Sealed Lead Acid, Li-ion

10-27-2017 11:54 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Market Research

Asia-Pacific Electric Scooters and Motorcycles Market

The Asia-Pacific electric scooters and motorcycles market size valued at $9.1 billion in 2016 and is forecasted to reach $14 billion by 2025, at a CAGR of 4.9%. Asia-Pacific accounts for close to 90% of all electric scooters and motorcycles sold in the world. China is the largest market of electric scooters and motorcycles, accounting for 95% of Asia-Pacific revenues in 2016. While lead acid battery accounts for majority of sales, the share of lithium-ion batteries is expected to increase over the forecast period due to decline in its prices.

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Two-wheelers account for majority of transport in Asia-Pacific mainly due to their low cost. This presents a major long-term opportunity of electric two-wheeler manufacturers to penetrate in the Asia-Pacific region. Moreover, there is a considerable share of population which do not own any vehicle. Rising income levels in emerging economies like India and China are encouraging people to buy two-wheelers. Moreover, growing urbanisation in these countries is also benefiting the sales of electric two-wheelers.

The government support in the form of subsidies and stringent emission norms is benefiting the Asia-Pacific electric scooters and motorcycles market. The governments of many developing countries are following the western countries and implementing stringent emission norms. For instance, India would follow the toughest global emission norms Bharat Stage (BS)-VI, from the current BS-IV, by 2020, skipping the BS-V. Furthermore, governments in many countries are also giving considerable subsidies on the purchase of electric vehicles making them more affordable. Going forward, the regulatory environment would encourage customers to opt for electric two-wheelers over the conventional ones.

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Lack of awareness regarding electric scooters and two wheelers is a major restraint for the Asia-Pacific electric scooters and motorcycles market. Except in China, the largest electric scooters and motorcycles market, consumers from other potential countries such as India and Indonesia are less aware of the electric scooters and motorcycles.

The Asia-Pacific electric scooters and motorcycles market is highly competitive with a considerable share captured by small players. Overall, the market is dominated by Chinese manufacturers, important among them includes Jiangsu Xinri E-Vehicle Co., Vmoto and SYM. Some of the major international players include Honda, Yamaha and Peugeot. Local players from other countries such as India and Indonesia have a negligible share in the total Asia-Pacific two-wheeler sales.

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

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