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2022
Electric Scooter And Motorcycle Market

Electric Scooter and Motorcycle Market by Vehicle Type (E-Scooter/Moped, E-Motorcycle), by Battery Type (Sealed Lead Acid, Lithium-ion, Others), by Range (Less Than 75 Miles, 75 Miles to 100 Miles, More Than 100 Miles), by Power (Less Than 3kW, 3kW to 5kW, More Than 5kW), by Vehicle Class (Economy, Luxury), by Usage (Commercial, Private): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A12724
Pages: 381
Aug 2022 | 2656 Views
Author(s) : Mohnish Khisty , Sonia Mutreja
Tables: 259
Charts: 76
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This section provides the opinions of various top-level CXOs in the global electric scooter and motorcycle market. Hence, based on the interviews of various top-level CXOs of leading companies, increase in government support for electric mobility including bikes & scooters and implementation of stringent laws toward CO2 emission drive the growth of the global electric scooter & motorcycle market. Moreover, consumer inclination toward the use of e-bikes as an eco-friendly and efficient solution for commute and increase in fuel costs supplement the market growth. In addition, rising energy costs and competition among emerging energy-efficient technologies are also expected to fuel the market's growth. For instance, in July 2021, Harley-Davidson announced the launch of the LiveWire ONE all electric bike under its LiveWire brand. The bike launched at a starting price of $21,999 and was capable of 146 miles of city range and featured fast DC Fast Charging from 0 to 100% in 60 minutes.

Furthermore, according to Paul Lee, Mark Casey and Craig Wigginton (Global Head of Research for the technology, media, and telecommunications (TMT) industry at Deloitte), between 2020 and 2023, more than 130 million e-bikes (motorcycles & scooters) are expected to be sold in 2023, e-bike sales are expected to top 40 million units worldwide. This is attributed to technological innovations in electric bikes, making them more attractive for commuters. Also, several pilot programs have been initiated to introduce e-scooters in a phased manner to reduce vehicle emissions in cities. The popularity of e-scooters is also encouraging conventional two-wheeler manufacturers to enter the market. For instance, in June 2022, Hero Electric partnered with Zypp Electric, India's leading D2C EV brand to supply 1.5 lakh electric scooters which supported the growth sustainable green alternatives for the logistics and delivery segment.

The market growth is supplemented by factors such as increasing government initiatives towards electric mobility, rising fuel prices, and consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute supplement the growth of the electric scooter and motorcycle market. However, high initial cost of e-bikes and scooter and ban on use of e-bikes in major cities of China are the factors expected to hamper the growth of the electric scooter and motorcycle market. In addition, improvement in infrastructure and growing advancement in battery technology creates market opportunities for the key players operating in the electric scooter and motorcycle market.

Among the analyzed regions, Asia-Pacific is the highest revenue contributor, followed by Europe, North America, and LAMEA. On the basis of forecast analysis, LAMEA is expected to lead during the forecast period, due to increasing affordability of electric two wheelers and increasing government initiatives towards electric mobility.

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On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers