The electric motorcycle and scooter market size is poised to reach around US$ 14.21 Bn by 2026, expanding at a CAGR of above 7 % during the forecast period 2019 to 2026.
According to the report, the electric motorcycle and scooter market is likely to be driven by a range of macroeconomic, technological, and industry-specific factors. Asia Pacific is expected to be at the forefront of global demand, with the market in the region expanding at a CAGR of more than 89% between 2019 and 2026.
Electric motorcycles and scooters are vehicles that run on electrical energy without utilizing fossil fuels. These types of vehicles are 100% eco-friendly and zero-emission vehicles, which are highly useful to counter the effects of fossil fuel-generated pollution.
Electric vehicles are vehicles of the future, and they are expected to curtail the amount of carbon emission released into the atmosphere as they produce low or zero carbon emission. Demand for electric vehicles is rising globally, while various governments are offering subsidies to owners or buyers of electric vehicles.
Growth of the Electric Motorcycle and Scooter Market:
Challenges of the Electric Motorcycle and Scooter Market:
In terms of product, the scooter segment accounted for a prominent share of the market. This is due to its less price, as compared to its counterpart (electric motorcycle) and easy maintenance. The size, weight, and price of the vehicle is lesser, vis-à-vis to motorcycles, which leads to higher demand for these type of vehicles. The scooter is also easy to maintain, which saves considerable cost during aftersales service.
In terms of battery type, the sealed lead acid segment accounts for a major share of the global electric motorcycle and scooter market. Lithium ion battery type segment was a highly attractive segment of the electric motorcycle and scooter market due to its large running capacity as compared to other electric two wheeler battery technologies. The sealed lead acid segment held a major market share of 70.1% in 2018; however, its share is projected to decline to reach 46.5% of the market by 2027, as the lithium-ion battery type is expected to hold a major share by 2027.
The battery technology segment accounts for a notable share of the market, due to its higher rate of adoption in electric two wheeler vehicles. Furthermore, the battery technology is cost-effective, as compared to plug-in technology. This has led the battery segment to hold a major share of the electric motorcycle and scooter market. The battery technology segment is estimated to dominate and hold 94.9% share of the electric motorcycle and scooters market by the end of 2018.
Electric Motorcycle and Scooter Market: Regional Analysis
Prominent 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., and Zuboo.
The report analyzes and forecasts the electric motorcycle and scooter market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global electric motorcycle and scooter market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the electric motorcycle and scooter market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of electric motorcycle and scooter market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
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