Electric Scooter and Motorcycle Market Outlook 2030 –
Electric motorcycles and scooters are also called plug-in electric vehicles and have two or three wheels. The electricity used by these vehicles is stored in rechargeable lead or lithium batteries. Compared with gasoline or diesel motorcycles, electric motorcycles are more comfortable. Electric motorcycles produce less vibration. Due to the growing demand for sustainable transportation, the market for electric scooters and motorcycles has seen significant growth. Increasing environmental problems, along with favorable government initiatives, are some of the key factors driving market growth. Rising energy costs and competition among emerging energy-saving technologies are also expected to drive market growth.
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Electric Scooter and Motorcycle Market Scope and Structure Analysis:
|Market size available for years||2020–2030|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Vehicle Type, Product Type, Battery, Distance Covered, Technology, Voltage, Vehicle Class and Region|
|Regions covered||North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa)|
|Companies covered||AIMA Technology Group Co., Ltd, Ampere Vehicles Pvt Ltd (Greaves Cotton), Energica Motor Company S.p.A, Govecs Group, Harley Davidson, Hero Eco Vehicles Pvt Ltd, KTM AG, Lightning Motorcycles, Mahindra GenZe, Shandong Incalcu Electric Vehicle Co. Ltd, SUNRA, Dongguan Tailing Electric Vehicle Co. Ltd, Terra Motors Corporation, Piaggio Group, BMW Motorrad International, TVS Motor Company, Zero Motorcycles, Vmoto Limited, Yadea Group Holding Ltd., Emflux Motors, Bajaj Auto Ltd., Electrotherm Ltd, Gogoro Inc, Jiangsu Xinri Electric Vehicle Co. Ltd.|
COVID-19 Impact analysis
The Covid-19 pandemic had a negative impact on the electric scooter and motorcycles market. Global blockade restrictions have caused the production and sales of new vehicles, including electric scooters and motorcycles, to be interrupted. In addition, due to the interruption of the supply chain, the raw materials needed to produce different parts of scooters and motorcycles were not available, resulting in production delays. This led to a rapid decline in the industrial economy. However, with the growing trend of cleaner travel worldwide, the industry is looking forward to an economic recovery after the Covid19 pandemic.
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Top Impacting Factors
- Rising fuel prices, need to minimize the levels of collective carbon footprints, increasing affordability of electric two wheelers and increasing government initiatives towards electric mobility are expected to drive the growth of the electric scooter and motorcycle market.
- High time consumed in the recharging process, high cost of batteries along with high initial costs and lack of charging infrastructure acts as a major factor restraining the growth of the global electric scooter and motorcycle market.
- Increasing consumer awareness towards alternate fuels, growing advancements in battery technologies & R&D activities and manufacturer focus towards the production of electric two wheelers segment can provide lucrative opportunities for the global electric scooter and motorcycle market.
Lithium-ion battery segment – fastest growing segment during forecast period
The lithium-ion battery is a kind of rechargeable battery, an advanced battery technology with lithium-ion as the main electrochemical component. In comparison to other batteries, lithium-ion batteries can store very high voltage and charge per unit mass and unit volume. Low self-discharge, high energy density, fast charging speed, and long service life are the characteristics of lithium-ion batteries. In the forecast period, the lithium-ion segment is expected to become the fastest-growing segment of the electric scooters and motorcycles market. Manufacturers are trying to develop electric scooters and motorcycles equipped with advanced lithium-ion batteries. The limited life cycle and available capacity may shift the focus from lead-acid batteries to lithium-ion batteries, and promote the electric scooters and motorcycle markets during the forecast period. Another advantage of lithium-ion batteries is their lightweight, which helps maintain the power-to-weight ratio of the vehicle. The electrodes of lithium-ion batteries are made up of lithium and carbon. Compared with lead-acid batteries, they can store more energy per kilogram of weight. In addition, the cost of lithium-ion batteries is relatively high, but the decline has been large in recent years and is expected to fall further.
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Key segments covered:
|Battery||Sealed Lead AcidLithium-Ion|
|Distance Covered||below 75 miles75-100 Miles above 100 Miles|
|Region||North AmericaU.S.CanadaMexicoEuropeGermanyFranceUKItalyRest of EuropeAsia-PacificChinaJapanIndiaSouth KoreaRest of Asia-PacificLAMEALatin AmericaMiddle EastAfrica|
Key benefits of the report:
- This study presents the analytical depiction of the electric scooter and motorcycle industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of electric scooter and motorcycle market.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the electric scooter and motorcycle market growth scenario.
- The report provides a detailed electric scooter and motorcycle market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the electric scooter and motorcycles market research report:
- Which are the leading market players active in the electric scooter and motorcycle market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the electric scooter and motorcycle market?
- What are the projections for the future that would help in taking further strategic steps?
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Electric Scooter and Motorcycle Market Report Highlights
|By Vehicle Type||E-Scooter/MopedE-Motorcycle|
|By Product Type||RetroStanding/Self-BalancingFolding|
|By Battery||Sealed Lead AcidLithium-Ion|
|By Distance Covered||Below 75 miles75-100 MilesAbove 100 Miles|
|By Vehicle Class||EconomyLuxury|
|By Region||North America (U.S., Canada, Mexico)Europe (France, Germany, UK, Russia, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)LAMEA (Latin America, Middle East, Africa)|
|Key Market Players||AIMA Technology Group Co. Ltd, Ampere Vehicles Pvt Ltd (Greaves Cotton), Energica Motor Company S.p.A, Govecs Group, Harley Davidson, Hero Eco Vehicles Pvt Ltd, KTM AG, Lightning Motorcycles, Mahindra GenZe, Shandong Incalcu Electric Vehicle Co. Ltd|