Electric Scooter And Motorcycle Market Powering the Future of Mobility: Growth and Opportunities in Electric Two-Wheelers

Electric Scooter and Motorcycle Market to reach over USD 27.24 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Electric Scooter and Motorcycle Market Size, Share & Trends Analysis Report By Vehicle (E-Scooters/Mopeds & E-Motorcycles), Battery (Lead Acid & Li-Ion), Distance (below 75 miles, 75-1000 miles, and above 100 miles), Voltage (36V, 48V, 60V, 72V, Above 72V), Technology Usage(Private, Commercial), Vehicle Class (economy and luxury)- Market Outlook And Industry Analysis 2031"

The Global Electric Scooter and Motorcycle Market is estimated to reach over USD 27.24 billion by 2031, exhibiting a CAGR of 23.58% during the forecast period.


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The electric scooter and motorcycle market is fueled by a growing desire for eco-friendly transportation. Government initiatives like stricter emission standards, tax breaks for electric vehicles, and subsidies for early adopters are pushing consumers towards electric two-wheelers. For instance, the Indian government's plan to reduce GST on electric scooters and bikes from 12% to 5% is a testament to this drive.

However, the market faces challenges. The high initial cost of electric bikes and scooters can be a barrier for some consumers. Additionally, regulations around e-bike usage in major cities like those in China can hinder market expansion.
Despite these hurdles, advancements in battery technology and charging infrastructure present exciting opportunities for major players in the electric scooter and motorcycle market. Investments in developing new electric two-wheelers with improved performance and innovative technologies are expected to propel the market forward.

List of Prominent Players in the Electric Scooter and Motorcycle Market:
• KTM AG
• Lightning Motorcycles
• NIU International,
• Okinawa Autotech Private Ltd.
• Yadea Technology Group Ltd.,
• AIMA Technology Group Co. Ltd
• Alta Motors
• Ampere Vehicles Pvt Ltd (Greaves Cotton)
• Bell Custom Cycles
• Blacksmith Electric
• Electric Motion
• Energica Motor Company S.p.A
• Essence Motorcycles
• Govecs Group
• Harley Davidson
• Hero Eco Vehicles Pvt Ltd
• Honda Motors
• Husqvarna Motorcycles GmbH
• Jiangsu Xinri E Vehicle Co. Ltd.,
• Johammer e-mobility GmbH

Market Dynamics:
Drivers-
Owing to increasing awareness of the issues associated with using fossil fuel-powered vehicles, governments from many different nations are taking majors to reduce their carbon footprints by promoting the usage of electric bikes and scooters, electric automobiles, and bicycles.

Also, governments are building bicycle-friendly roadways, which encourage people to use bicycles as their primary transportation mode. Many governments are paying emphasis to electric bicycles, scooters, and motorbikes as dependable, effective types of light motor vehicles (LMVs) that contribute to lowering carbon emissions.

Governments from all over the world are also delivering tax breaks and other incentives to encourage the purchase of electric mobility in an effort to promote the use of these eco-friendly vehicles.

Challenges:
One of the main factors hindering the growth of the electric scooter and motorcycle market is the high cost of e-bikes and scooters. Compared to conventional bikes, conventional scooters, or motorcycles, electric motorbikes are more expensive due to the cost of the battery and technology.

As a result, buyers believe that traditional bikes or scooters offer better performance for the same or less money. Furthermore, the market's expansion is constrained by the high cost of using lithium-ion batteries or a motor's drive mechanism. So, the rise in e-bike use outside of China is constrained by high costs. The worldwide e-bike market, however, is expanding quickly, which could lessen the impact of this limitation.

Regional Trends:
During the course of the forecast, Asia-Pacific is predicted to dominate the market. The four largest economies in the region are China, India, South Korea, and Japan, and these economies are anticipated to have an impact on the market as a whole.

These nations are seeing an increase in the number of new businesses as well as traditional, well-established enterprises entering the market. Taiwan started offering subsidies in 2021 of up to USD 900-1000 for the purchase of new electric motorcycles and scooters. Due to the implementation of such measures, 94000 of the 809 000 scooters sold in the nation in 2021 were electric scooters.

In Taiwan in 2021, electric scooters accounted for 11.9% of all scooter sales. Over 79000 electric scooters were sold by Gogoro Inc. in Taiwan in 2021. The Taiwanese government wants to have 70% of new scooters sold to be electric by the end of 2035 in Taiwan.

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Recent Developments:
• In October 2022, KLB Komaki Pvt. Ltd., an electric scooter startup in India, debuted Venice Eco Electric, its eighth high-speed scooter, in the country. The scooter includes a TFT instrument cluster with navigational functions and a Lithium Ferro Phosphate battery that is said to lower fire risks.

Segmentation of Electric Scooter and Motorcycle Market-
By Vehicle Type-
• E-scooter
• E-Motorcycle
By Battery Type-
• Sealed lead acid,
• Lithium-ion
By Distance Covered-
• Below 75 miles,
• 75-1000 miles
• Above 100 miles
By Technology-
• Plug-in
• Battery
By Voltage-
• 36V,
• 48V,
• 60V,
• 72V,
• Above 72V
By Vehicle Class-
• Economy
• Luxury
By Usage-
• Commercial
• Private
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.