Wilmington, Delaware, United States, Sept. 19, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – In 2021, the global electric scooter market size was worth at US$ 21.12 Bn. Electric Scooter Industry Analysis predicts the market to expand at a CAGR of 17.22% during the forecast period, from 2022 to 2031. The global electric motorcycle and scooter market is anticipated to attain value of US$ 103.45 Bn by 2031. The global market for electric motorcycle and scooter is being driven by an increase in consumer desire for green and fuel-efficient automobiles. Usage of electric motorcycles and scooters 2022 contributes to a decrease in carbon emissions and reliance on fossil fuels. Teenagers are becoming more and more interested in e-sports motorcycles.
In order to expand their market share, major competitors in the market are providing high-performance, low-cost e-scooters and e-motorcycles with cutting-edge features. Electric cars that can be driven safely on many sorts of roads and in all kinds of weather are also being developed by players. Electric motorcycles and scooters are mostly powered by lithium-ion and sealed lead-acid batteries. In order to increase their market dominance, major manufacturers are progressively providing batteries with a wide operating temperature range.
Due to China’s increasing adoption and production of electric scooters and motorcycles, the e – scooter industry research projects that Asia Pacific will dominate the global market for electric motorcycles and scooters, based on volume. The adoption of strict laws to reduce carbon emissions and provision for government incentives to purchase electric vehicles are predicted to raise demand for regional electric motorcycles and scooters. Furthermore, innovations and increasing R&D to drive expansion of the electric motorcycles and scooters USA.
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Key Findings of Market Report
- The global electric motorcycle and scooter market is expanding due to rising discretionary income and growing usage of electric automobiles. Governments all around the world are providing subsidies to promote the market for electric scooters and motorcycles. A growth in the use of electric automobiles is also being attributed to the implementation of strict laws meant to reduce pollution and vehicle emissions. Growing manufacturing of zero-emission automobiles is increasing demand for electric motorcycles and mopeds.
- The global market is expected to expand due to urbanization and rising demand for electric two-wheelers in metropolitan areas. In search of greater prospects, the majority of people around the world are moving towards cities. For last-mile trips and deliveries, this trend is anticipated to increase demand for electric vehicles. Additionally, several towns have incorporated technology into their municipal infrastructure to facilitate the use of electric mobility scooters.
- In 2021, the e-scooter/moped category accounted for a significant portion of the global market for electric motorcycle and scooter, depending on vehicle type. The segment’s expansion can be attributed to simpler upkeep and lower cost of e-scooters and e-mopeds compared to electric motorcycles.
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Global Electric Motorcycles and Scooters Market: Growth Drivers
- The battery category dominated the global market for electric motorcycle and scooter in 2021, and this trend is anticipated to persist over the course of the forecast period. In comparison to plug-in technology, battery technology is more cost-effective. Due to this, it is now being used more frequently in electric scooters and motorcycles.
- For electric motorcycles and scooters, Europe is a significant market. In this region, sealed lead-acid batteries are the most often used type in electric motorcycles and scooters.
Global Electric Motorcycles and Scooters Market: Key Players
Some of the key market players are
- Yadea Group Holding Ltd.
- Jiangsu Xinri E-vehicle Co.Ltd.
- Mahindra & Mahindra Ltd.
- Bajaj Auto Ltd.
- Harley Davidson, Inc.
- Piaggio Group
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Global Electric Motorcycles and Scooters Market: segmentation
- Electric scooter/moped
- E motorcycle
- Sealed lead acid
- lithium ion
- Below 75 Miles
- 75-100 miles
- Above 100 miles
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