Electric Motorcycle and Scooter Market: Key Insight
- Electric motorcycle or scooter market is anticipated to expand at the CAGR of 5.3% during the period of 2019 to 2027
- Electric scooter is one of the major segment of the electric motorcycle or scooter market and is anticipated to hold around 66% market share of the electric motorcycle or scooter market
- Sealed lead acid battery are preferred widely in majority of the low cost electric two-wheeler vehicle owing to its low cost as compared to others
- The battery segment accounts for a notable share of the market, due to its higher rate of adoption in electric two wheeler vehicles in conjunction with low cost solution
Growth Drivers for Electric Motorcycle and Scooter Market:
Electric motorcycle or scooter is a two-wheeled vehicle powered by an electric motor, where electric power is stored in the form of a rechargeable battery. This battery drives and powers one or more electric motors in the two-wheeler vehicle. Electric motorcycle and scooters are considerably quieter than traditional powered motorcycles and scooters; they are so silent that pedestrian are likely to be unaware of their presence on the street or road. Presently, a majority of electric motorcycles and scooters are driven by a rechargeable lithium-ion battery and sealed lead acid battery.
- Pure electric vehicles operate entirely on electricity and do not entail any other form of alternate fuel for functioning. Since the beginning of 2011, there has been a gradual increase in the adoption of electric vehicles, including electric motorcycles and scooters, by consumers around the world.
- Increasing vehicular pollution, especially from gasoline powered two-wheeler motorcycles and scooters, has led to a surge in the adoption of electric powered two-wheelers vehicle.
- Additionally, governments across the globe are offering favorable regulatory environment norms to stimulate the manufacturing of electric motorcycles and scooters.
- Developed countries are leading the shift toward electric two-wheelers, as they increase the concentration of electric motorcycles and scooters in their total production of two-wheeler motor vehicles.
- The electric two wheeler market is anticipated to expand at a noteworthy growth rate during the forecast period owing to the multiple benefits offered by these vehicles, such as high efficiency, low or no emission, noiseless operation, low fuel (charging) cost, and less maintenance.
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Challenges for Electric Motorcycle and Scooter Market:
- Limited availability of charging infrastructure supplemented with high charging time are likely to restrain the market in near future.
- Moreover, electric motorcycles and scooters are considerably expensive as compared to traditional ones. This further hinders the demand for electric two-wheeler motor vehicles, which in turn is estimated to hamper the electric motorcycle and scooter market during the forecast period.
The global electric motorcycle and scooter market has been segmented based on product, battery type, technology, and region.
In terms of product, the global electric motorcycle and scooter market has been be bifurcated into motorcycle and scooter. The scooter segment accounted for a prominent share of the market, primarily due to the higher rate of adoption of electric scooters supplemented with low cost of the vehicle, as compared to that of an electric motorcycle.
Based on battery type, the global electric motorcycle and scooter market has been split into sealed lead acid and lithium-ion. The sealed lead acid segment led the global electric motorcycle and scooter market. However, the lithium ion segment is a highly attractive segment of the electric motorcycle and scooter market due to its large running capacity, longer life-span, charging speed, and efficiency, as compared to other electric two-wheeler battery technologies.
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In terms of technology, the global electric motorcycle and scooter market has been classified into plug-in and battery. The battery segment accounted for a notable share of the market, due to its higher rate of adoption in electric two-wheeler motor vehicles. Furthermore, the battery technology is cost-effective, as compared to plug-in technology. This has led to higher penetration of battery segment in electric motorcycle and scooter.
Electric Motorcycle and Scooter Market: Regional Analysis
In terms of region, the Asia Pacific dominated the global electric motorcycle and scooter market, majorly due to the massive production and adoption of electric scooters and motorcycles in China, which single-handedly leads the global share of the electric motorcycle and scooter market.
Moreover, a surge in emissions coupled with government emission norms and subsidies offered has fueled the adoption of electric motorcycles and scooters in China, thereby boosting the market share held by Asia Pacific.
Other major countries with rising rate of adoption of the electric two-wheeler motor vehicles are India, Japan, and Taiwan.
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Electric Motorcycle and Scooter Market: Competitive Landscape
The report also profiles the major players in the market in terms of attributes such as company overview, product overview, company financials, business strategies, and recent developments.
Key players operating in the electric motorcycle and scooter market include
- AIMA
- ALTA MOTORS
- Aucma EV
- BMW Motorrad
- Bodo Vehicle Group
- BYVIN
- Electric Motor Sport, Inc.
- Emmelle
- Energica Motor Company S.p.A.
- Evoke Electric Motorcycles
- Fushida, Gamma Technologies
- Govecs Group
- Hero Eco
- Honda Motors
- KTM Sportmotorcycle GmbH
- Lightning Motorcycle Corp.
- Lima Electric Vehicle Co. Ltd.
- Lito, Lvjia
- Mahindra Mahindra Ltd.
- Piaggio C. SpA
- Polaris Industries, Inc.
- Qianxi Group
- Quantya
- Shandong Incalu Electric Vehicle Co. Ltd.
- Shanghai Palla Electric Vehicle Co.
- Sinski Motorcycle
- Slane
- Sunra EV
- Suzuki Motor Corporation
- TAILG
- Terra Motors Corporation
- Tork Motors
- Wuxi Yadea Export-Import Co.,Ltd.
- Yamaha Motor Corporation
- YObykes
- Z Electric Vehicle
- Zero Motorcycles, Inc.
- Zhejian Luyuan Electric Vehicle Co. Ltd.
- Zuboo.
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