Selbyville, Delaware, June 21, 2021 (GLOBE NEWSWIRE) —
Global Market Insights Inc. has recently added a new report on the electric motorcycles & scooters market which estimates the market valuation for the electric motorcycles and scooters will cross US$ 40 billion by 2027. The market is anticipated to witness a high demand during the forecast period owing to the introduction of high-capacity batteries and improved charging infrastructure. In addition, grants and subsidies provided on the purchase of new electric two-wheelers are propelling the market statistics.
The COVID-19 pandemic had a varying impact on the electric motorcycles and scooters market. The government-imposed lockdown in several countries halted the manufacturing capabilities of electric two-wheeler manufacturers in the first quarter of 2020. Additionally, the supply chain disruption and shortage of labor delayed production activities and new product launches. The market experienced a swift growth from the second half of 2020 owing to the growing preference for personal mobility and last-mile delivery through electric vehicles.
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The 36V battery segment is expected to register a high growth from 2020 to 2027. 36V batteries are primarily used in electric scooters owing to low initial costs compared to high-performing 48V batteries. 36V batteries are lightweight as they comprise a small number of cells. This significantly reduces the cost and overall weight of electric motorcycles & scooters, ensuring a smooth driving experience for the rider.
The major market factors driving the North America electric motorcycles & scooters market growth are high spending capacity and early adoption of technologically advanced mobility solutions. High government spending on electric vehicles and the presence of enhanced infrastructure & EV charging stations are factors driving the demand for electric motorcycles and scooters in North America.
The players active in the electric scooters and motorcycles market are Govecs Group, Lightning Motorcycles, Harley Davidson, Zero Motorcycles, Mahindra GenZe, KTM, Energica Motor Company, Z Electric Vehicle, and Yadea Technology Co. Ltd. Several manufacturers are launching new electric two-wheeler models with enhanced features in the global market. For instance, in November 2020, Yamaha introduced its new e-Vino electric scooter in the Japanese market. The scooter is integrated with a 50V Li-ion battery and provides a range of around 30km on a single charge.
Some key findings in the electric motorcycles and scooters market report include:
- Rising concerns among consumers on harmful greenhouse gas emissions caused by ICE scooters and motorcycles will aid the adoption of eco-friendly electric two-wheelers. Rechargeable batteries used in electric motorcycles & scooters dramatically reduce CO2 emission, reducing air pollution.
- Favorable government policies across the globe in the form of subsidies, grants, and low tax rates on the purchase of electric scooters & motorcycles to support electric mobility will augment the adoption of electric two-wheelers.
- Implementation of strict regulations on vehicle emission in countries including the U.S, Canada, France, the UK, Germany, India, Japan, and China is driving the growth of electric motorcycles and scooters on a large-scale.
- The emergence of new market players and adoption of low pricing strategy will drive the market growth in Asia Pacific and Latin America.
- Increasing demand for Li-ion batteries owing to enhanced performance, efficiency, long shelf life, and high-power storage capacity will drive the segment growth.
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Partial chapters of report table of contents (TOC):
Chapter 4 Competitive Landscape,
4.2 Company market share analysis, 2020
4.3 Competitive analysis of key market players
4.3.1 Energica Motor Company S p A
4.3.2 Hero Electric
4.3.3 Niu Technologies
4.3.5 Vmoto Limited
4.3.6 Yadea Technology Group Co Ltd
4.3.7 Zero Electric Motorcycles
Chapter 5 Electric Motorcycles & Scooters Market, By Product
5.1 Key trends by products
5.2 Electric Motorcycles
5.2.1 market estimates and forecast, 2017 – 2027
5.3 Electric Scooters
5.3.1 market estimates and forecast, 2017 – 2027
Chapter 6 Electric Motorcycles & Scooters Market, By Battery
6.1 Key trends by battery
6.2.1 market estimates and forecast, 2017 – 2027
6.3.1 market estimates and forecast, 2017 – 2027
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.