The growing inclination toward road safety and increasing government initiatives in the form of stringent traffic rules are likely to aid in the expansion of the global electric motorcycles and scooters market. An electric motorcycle or scooter is a two-wheeled vehicle controlled by an electric engine, where electric force is put away as a battery-powered battery. This battery drives and powers at least one electric engine in the bike vehicle. Electric motorcycles and scooters are impressively calmer than customary controlled motorcycles and scooters; they are quiet to the point that person on foot is probably going to be uninformed of their quality in the city or street. As of now, a greater part of electric motorcycles and scooters are driven by a battery-powered lithium-particle battery and fixed lead corrosive battery.
Electric Scooter Segment Earning Highest Shares Owing to Cost Efficient Prices
As per segmentation by product, the electric scooter segment is projected to earn a 66% share in the overall market in the coming years. Besides this, the cost-efficient prices of electric scooters as compared to motorcycles are further projected to help this segment continue dominating the market in the coming years.
According to a report by Transparency Market Research, the global electric motorcycle and scooter market is expected to rise at a CAGR of 7.1% to reach a value of USD 14.29 billion by the end of 2027.
Increasing Popularitry of Electronically-Abled Vehicles to Accelerate Production Rates Rapidly
Expanding government ventures across the globe to support EV take-up is required to build the market demand for electric motorcycles and scooters. Government drives as appropriations, awards, and duty discounts offered on the acquisition of electric bikes will set out market open doors for makers to expand their creation limit.
Electric motorcycles and scooters are considerably calmer than existing scooters and motorcycles that run of conventional force frameworks. These vehicles are so extremely quiet that people on foot are regularly gotten unconscious of their quality on street. Thusly, the low-commotion element of the vehicle is probably going to impel the development of the worldwide electric motorcycle and scooter market. As of now, most electric motorcycles and scooters are empowered by worked by battery-powered lithium-particle batteries and fixed with lead-corrosive batteries.
Developing demand for options and clean fills for a different transport method has arisen as a development factor for the worldwide electric motorcycle and scooter market. These vehicles are peaceful and lightweight when contrasted with vehicles running on customary energizes. On the contrary, the lack of proper infrastructure and facilities for charging electric motorcycles and scooters may pose a major hindrance to the overall growth of this market in the coming years. Nevertheless, the increasing government support in terms of stimulating the manufacturing of eco-friendly, and highly efficient two-wheeler vehicles are likely to create lucrative growth opportunities for this market in the coming years.
Regionally, the market is dominated by the Asia Pacific on account of the massive production and adoption of electric scooters. This is further attributed to the energy recycling factor and eco-friendly nature of such vehicles. China emerges as the leading producer of electric motorcycles and scooters worldwide. The increasing support from the governments, coupled with the presence of major automobile giants in nations such as China, India, and Japan are likely to help this region continue dominating the overall market in the coming years.
The global electric motorcycle and scooter market is highly fragmented in nature on account of the increasing number of new entrants into the competition. Besides this, several manufacturers are indulging in merger and acquisition strategies to reach the top position in the market.
The information presented in this review is derived from a report by Transparency Market Research titled, “Electric Motorcycle and Scooter Market (Product - Scooter, Motorcycle; Battery Type - Sealed Lead Acid, Lithium-ion; Technology - Plug-in, Battery) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027.”
Notable players of the global electric motorcycle and scooter market include Piaggio & C.SpA, Zuboo, Mahindra & Mahindra Ltd., Zero Motorcycles Inc., Lito, Lvjia, YObykes, Lima Electric Vehicle Co. Ltd., Sinski Motorcycle, KTM Sportmotorcycle GmbH, Wuxi Yadea Export-Import Co. Ltd., Lightning Motorcycle Corp., Terra Motors Corporation, Honda Motors, Govecs Group, Zhejiang Luyuan Electric Vehicle Co. Ltd., Fushida, Gamma Technologies, Energica Motor Company S.p.A., Slane, Z Electric Vehicle, Emelle, Yamaha Motor Corporation, Electric Motor Sports Inc., Tork Motors, BYVIN, Shanghai Palla Electric Vehicle Co., Bodo Vehicle Group, TAILG, Alta Motors, Quantya, Sunra EV, AIMA, Qianxi Group, Aucma EV, Suzuki Motor Corporation, Polaris Industries Inc., BMW Motorrad, and others.
The global electric motorcycle and scooter market is categorized into:
- Sealed Lead Acid
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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