The rapidly growing concerns related to vehicular emissions and increasing consumer awareness about air pollution will fuel the market growth. Furthermore, increasing investments by government authorities in the development of EV charging infrastructure is expected to increase the market penetration. Technological advancements in the field of motors and battery management systems will support the electric motorcycles & scooters market size expansion. The development of Interior Permanent Magnet (IPM) motors that provide optimized power and efficiency to enhance the performance of electric motorcycles & scooters will fuel the market growth. The ability of IPM motors to full torque for instantaneous throttle response is contributing to their rapid adoption in electric two-wheelers. Moreover, the compact size and reduced weight of these motors deliver enhanced power and acceleration to electric motorcycles & scooters.
Key Market Players The global electric scooter and motorcycle market is dominated by major players such as :
Yadea Group Holdings Ltd.(China), Jiangsu Xinri E-Vehicle Co., Ltd. (China),NIU International (China), Silence Urban Ecomobility (Spain), and Hero Electric (India). These companies offer extensive products and solutions for the electric two-wheeler industry; and have strong distribution networks at the global level, and they invest heavily in R&D to develop new products.
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COVID-19 Impact On Electric Scooter And Motorcycle Market:
The production and sales of new vehicles had come to a halt across the globe as the whole ecosystem had been disrupted in the initial outbreak of COVID 19. OEMs had to wait until lockdowns were lifted to resume production, which affected their businesses. Hence, vehicle manufacturers would need to adjust the production volume. Also, component manufacturing is suspended, and small Tier II and Tier III manufacturers could face liquidity issues. The automotive industry is highly capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the outbreak and lower demand will have an unprecedented impact on electric scooters and motorcycle manufacturers. Due to the COVID-19 pandemic, many countries had imposed a complete lockdown of more than two months, which, in turn, has impacted vehicle production. Manufacturing units around the world were shut down, and vehicle sales have taken a huge hit. However, the majority of the automakers resumed vehicle production with limited production and necessary measures. Although most OEMs did not report any major losses, there were few OEMs, which suffered from the outbreak. For instance, NIU International suffered a significant loss due to the outbreak of COVID 19. The company’s production was significantly hampered due to the 30-days production break in February 2020 in China. Because of the pandemic, the company’s sales declined by around 40% in the first quarter of 2020. Hero Electric and Okinawa had to shut their manufacturing plant for a few days owing to the nation-wide lockdown in India.
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Based on the vehicle type:
Based on the battery type:
- Sealed lead acid
Based on the distance covered:
- Below 75 miles
- 75-100 Miles
- Above 100 Miles
Based on the technology:
Based on the voltage:
Based on the vehicle class:
Based on the region:
- Asia Pacific
- South Korea
- North America
- United Kingdom
Electric Motorcycles & Scooters Market research provides answers to the following key questions:
What is the expected growth rate of the Electric Motorcycles & Scooters Market?
What will be the Electric Motorcycles & Scooters Market size for the forecast period, 2020 – 2028?
What are the main driving forces responsible for changing the Electric Motorcycles & Scooters Market trajectory?
Who are the big suppliers that dominate the Electric Motorcycles & Scooters Market across different regions? Which are their wins to stay ahead in the competition?
What are the Electric Motorcycles & Scooters Market trends business owners can rely upon in the coming years?
What are the threats and challenges expected to restrict the progress of the Electric Motorcycles & Scooters Market across different countries?
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