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Global Electric Scooter & Motorcycle Markets Report 2021: Market is Estimated to be $5.8 Billion in 2020 and is Expected to Reach $11.3 Billion by 2025 - Manufacturers Focus on Two-Wheel Segment

Research and Markets
·4-min read

Dublin, May 24, 2021 (GLOBE NEWSWIRE) -- The "Global Electric Scooter & Motorcycle Market (2020-2025) by vehicle type, product type, battery covered, distance covered, technology, voltage, vehicle class Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Electric Scooter & Motorcycle Market is estimated to be USD 5.8 Bn in 2020 and is expected to reach USD 11.3 Bn by 2025, growing at a CAGR of 14.2 %.

Market Dynamics

Key factors, such as the rising carbon emissions and the growing fuel prices have certainly benefitted the growth of the electric scooter and motorcycle market.

Moreover, in order to induce the demand in the electric mobility segment, the respective Governments have promised subsidies and have laid certain initiatives that have boosted the demand for the electric two-wheeler segment further. Additionally, the increasing affordability of electric scooters has further accelerated the growth of the market.

However, the high initial costs of e-motorcycle or e-scooter along with the battery prices is likely to hinder the growth of the market. Moreover, the time taken to recharge the battery is also restraining the growth of the market.

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Drivers

  • Rising fuel prices

  • Need to minimize the levels of collective carbon footprints

  • Increasing affordability of electric two wheelers

  • Increasing Government initiatives towards electric mobility

Restraints

  • High time consumed in the recharging process

  • High cost of batteries along with high initial costs

Opportunities

  • Increasing consumer awareness towards alternate fuels

  • Growing advancements in battery technologies & R&D activities

  • Manufacturer focus towards the production of electric two wheelers segment

Market Segmentation

  • By Vehicle Type, the market is classified as E-Scooter/Moped and E-Motorcycle. Amongst the two, the E-Motorcycle segment is estimated to hold the highest market share.

  • By Product Type, the market is classified as Retro, Standing/Self-Balancing, and Folding. Amongst all, the Retro segment is estimated to hold the highest market share during the forecast period.

  • By Battery Covered, the market is classified as sealed lead-acid and Lithium-ion. Amongst all, the Lithium-ion battery segment is estimated to hold the highest market share.

  • By Distance Covered, the market is classified as below 75 miles, 75-100 Miles, and above 100 Miles. Amongst all, the below 75 miles segment is estimated to hold the highest market share.

  • By Technology, the market is classified as Plug-in and Battery. Amongst the two, the battery segment is estimated to hold the highest market share.

  • By Voltage, the market is classified as 36V, 48V, 60V, and 72V. Amongst the two, the 48V segment is estimated to hold the highest market share.

  • By Vehicle Class, the market is classified as Economy and Luxury. Amongst the two, the Economic segment is estimated to hold the highest market share.

  • By Geography, APAC is projected to lead the market.

Recent Developments

  • Polaris has signed a 10-year exclusive partnership with Zero Motorcycles for manufacturing electric sports vehicles that include ATVs and snowmobiles. This is likely to be introduced by 2025. Through this agreement, Polaris seeks to add new electric vehicles to their off-road and power sports vehicles. - 29th September 2020

  • Terra Motors Corporation has lined up the electric two-wheeler segment catered specially for the Indian market. It is likely to be slated by 2020.- 9th May 2018

Some of the major companies covered in this report are Mahindra GenZe, BMW Motorrad International, Vmoto Limited, Terra Motors Corporation, Gogoro Inc, KTM AG, SUNRA, and Jiangsu Xinri Electric Vehicle Co. Ltd.

Companies Mentioned

  • 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.

For more information about this report visit https://www.researchandmarkets.com/r/qfarxf

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900