Global Electric Scooter and Motorcycle Market (2020 to 2027) - Decreasing Prices of Batteries Presents Opportunities

DUBLIN, Jan. 21, 2021 /PRNewswire/ -- The "Global Electric Scooter and Motorcycle Market by Vehicle Type (e-Scooter/Moped, e-Motorcycle), Battery (Sealed Lead Acid, Li-Ion), Distance Covered, Voltage (36V, 48V, 60V, 72V), Technology (Plug-in, Battery), Vehicle Class, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global electric scooter and motorcycle market size is projected to reach 5,948 thousand units by 2027, from an estimated 861 thousand units in 2020, at a CAGR of 31.8%.

Governments are supporting electric two-wheelers through subsidies & tax rebates and by building charging infrastructure with the help of OEMs, which is compelling two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers.

Increased demand for efficient and eco-friendly vehicles will boost the electric scooter and motorcycle market. Consumers from developing countries are already feeling the heat of the increasing cost of petrol. Electrical two-wheelers will run on electricity, which is expected to reduce the operating cost of these vehicles. However, the lack of charging infrastructure creates a hurdle for the growth of the electric scooter and motorcycle market. To make the electric two-wheeler market grow, a large charging infrastructure network is needed so that users could cover long distances without bothering about searching for a charging station.

However, COVID-19 pandemic is expected to have a slight impact on the electric scooter and motorcycle market. Both the production and sales of new rail vehicles have come to a halt across the globe as the whole ecosystem has been disrupted. OEMs had to wait until lockdowns were lifted to resume production, which affected their business.

Post pandemic, the demand for two-wheelers might increase, as people will avoid public transport, preferring private vehicles to avoid crowds. In addition, component manufacturing is also suspended, and small Tier II and Tier III manufacturers could face liquidity issues. The automotive industry is capital-intensive and relies on frequent financing to continue operations. Thus, the production suspension during the outbreak and lower demand post the pandemic will have an unprecedented impact on electric scooter and motorcycle providers.

The 48V segment is expected to be the largest voltage segment over the forecast period

The 48V segment is larger due to its extensive usage in electric scooters/mopeds, as it provides a better range per charge compared to 36V in low-speed electric scooter applications. Players such as Hero Electric and Okinawa have experienced huge growth in the 48V segment. It is estimated that the 72V segment will grow at a higher rate than other segments due to its higher energy efficiency and increasing demand for high-performance electric scooters and electric motorcycles.

Economy segment is expected to be the largest vehicle class segment during the forecast period

The economy class segment is projected to be the larger segment in the electric scooter and motorcycle market during the forecast period due to the less initial price as compared with the luxury segment and growing demand for affordable commuting. These kinds of electric scooters and motorcycles sell mostly in developing countries as an affordable alternative to other commuting options such as public transport buses and trains. Several well-established two-wheeler manufacturers have entered the Economic segment. For instance, companies such as Hero Electric, Pure EV, Okinawa, Ampere, TVS cater to the economy segment in the Indian market. Similarly, the Chinese market is dominated by such two-wheelers manufactured by Yadea, Jiangsu Xinri, and Luyuan.

Sealed Lead Acid segment is expected to be the largest battery segment over the forecast period

The sealed lead acid battery is one of the earliest types of rechargeable battery, and it consists of lead peroxide and sponge lead that convert chemical energy into electrical energy. Low cost, delivery of high currents, and low internal impedance are some advantages of lead acid batteries. Asia Pacific is expected to lead the lead acid segment of the electric scooter and motorcycle market during the forecast period. Asia Pacific is dominated by affordable electric scooters/mopeds. Hence, lead acid batteries are being used by many Asian manufacturers to keep the pricing on the lower side. For instance, Hero Electric and Ampere Vehicles have been offering electric scooters with Li-ion as well as lead acid battery options in the Indian market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Electric Scooter and Motorcycle Market
4.2 Electric Scooter and Motorcycle Market Growth Rate, by Region
4.3 Electric Scooter and Motorcycle Market, by Vehicle Type
4.4 Electric Scooter and Motorcycle Market, by Battery Type
4.5 Electric Scooter and Motorcycle Market, by Distance Covered
4.6 Electric Scooter and Motorcycle Market, by Voltage
4.7 Electric Scooter and Motorcycle Market, by Technology
4.8 Electric Scooter and Motorcycle Market, by Vehicle Class

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Low Operating and Maintenance Costs
5.2.1.2 Government Incentives and Subsidies
5.2.1.3 Advancements in Battery Technologies
5.2.2 Restraints
5.2.2.1 Lack of Charging Infrastructure
5.2.2.2 Lack of Power Output and Limited Range
5.2.3 Opportunities
5.2.3.1 Government Bodies Backing Electric Two-Wheelers
5.2.3.2 Established Players Yet to Enter the Market
5.2.3.3 Decreasing Prices of Batteries
5.2.3.4 New Revenue Pockets in Asia-Pacific and Europe
5.2.4 Challenges
5.2.4.1 Design and Performance Standards
5.2.4.2 Initial Investments and High Cost of Electricity
5.2.4.3 Lack of Compatibility, Interchangeability, and Standardization
5.3 Porter's Five Forces
5.3.1 Threat of Substitutes
5.3.2 Rivalry Among Existing Competitors
5.3.3 Bargaining Power of Buyers
5.3.4 Threat of New Entrants
5.3.5 Bargaining Power of Suppliers
5.4 Electric Scooter and Motorcycle Market Ecosystem
5.5 Supply Chain Analysis
5.5.1 Electric Charging Infrastructure Providers
5.5.2 Tier I Suppliers
5.5.3 OEMs
5.5.4 End-users
5.6 Tariff and Regulatory Overview
5.6.1 India
5.6.2 China
5.6.3 France
5.6.4 Germany
5.6.5 Spain
5.6.6 Austria
5.6.7 US
5.7 Patent Analysis
5.8 Case Study Analysis
5.9 Average Selling Price
5.10 Technology Analysis
5.11 COVID-19 Impact Analysis
5.12 COVID-19 Health Assessment
5.13 Electric Scooter and Motorcycle Market, Scenarios (2020-2027)

6 Electric Scooter and Motorcycle Market, by Vehicle Type
6.1 Introduction
6.2 Operational Data
6.2.1 Assumptions
6.2.2 Research Methodology
6.3 e-Scooter/Moped
6.3.1 Rise in Demand for Energy-Efficient Modes of Commuting to Boost the Market
6.4 e-Motorcycle
6.4.1 Increase in Demand for Performance Electric Two-Wheelers to Drive the e-Motorcycle Segment
6.5 Key Primary Insights

7 Electric Scooter and Motorcycle Market, by Battery Type
7.1 Introduction
7.2 Operational Data
7.2.1 Assumptions
7.2.2 Research Methodology
7.3 Sealed Lead Acid
7.3.1 Low Cost of Lead Acid Battery is the Major Reason for Its Usage
7.4 Lithium-Ion
7.4.1 Asia-Pacific Will Lead the Lithium-Ion Battery Segment due to Their Growing Usage in Modern Electric Two-Wheelers
7.5 Key Primary Insights

8 Electric Scooter and Motorcycle Market, by Distance Covered
8.1 Introduction
8.2 Operational Data
8.2.1 Assumptions
8.2.2 Research Methodology
8.3 Below 75 Miles
8.3.1 Asia-Pacific is Dominated by Electric Scooters/Mopeds with Below 75 Miles Range
8.4 75-100 Miles
8.4.1 Improved Battery Performance to Enhance the Range of Electric Two-Wheelers
8.5 Above 100 Miles
8.5.1 Innovation in Technologies Will Boost the Demand
8.6 Key Primary Insights

9 Electric Scooter and Motorcycle Market, by Voltage Type
9.1 Introduction
9.2 Operational Data
9.2.1 Assumptions
9.2.2 Research Methodology
9.3 36V
9.3.1 Increase in Demand for Energy-Efficient Daily Commuting to Boost the Electric Scooter and Motorcycle Market
9.4 48V
9.4.1 More Practical Usage of 48V Battery Than 36V to Drive the Segment in Future
9.5 60V
9.5.1 Manufacturers Have Recognized the Need for Optimum Performance and Enhanced Range
9.6 72V
9.6.1 Recent Developments in Batteries and Growing Demand for Performance to Change the Scenario in Future
9.7 Key Primary Insights

10 Electric Scooter and Motorcycle Market, by Technology Type
10.1 Introduction
10.2 Operational Data
10.2.1 Assumptions
10.2.2 Research Methodology
10.3 Plug-In
10.3.1 Manufacturers Have Started Providing Fast Charging Stations for Plug-In Electric Two-Wheelers
10.4 Battery
10.4.1 Advancements in Battery to Boost the Segment in Future
10.5 Key Primary Insights

11 Electric Scooter and Motorcycle Market, by Vehicle Class
11.1 Introduction
11.2 Operational Data
11.2.1 Assumptions
11.2.2 Research Methodology
11.3 Economy Class
11.4 Luxurious/Premium Class
11.5 Key Primary Insights

12 Electric Scooter and Motorcycle Market, by Region
12.1 Introduction
12.2 Asia-Pacific
12.3 Europe
12.4 North America

13 Competitive Landscape
13.1 Overview
13.2 Market Evaluation Framework
13.3 Market Share Analysis for Electric Scooter and Motorcycle Market
13.4 Ranking Analysis for Electric Scooter and Motorcycle Market
13.5 Market Share of Top Indian Players in the Indian Electric Scooter and Motorcycle Market
13.6 Battery Suppliers of Key Players in the Indian Electric Scooter and Motorcycle Market
13.7 Competitive Scenario
13.7.1 New Product Launches
13.7.2 Mergers & Acquisitions
13.7.3 Partnerships/Collaborations/ Joint Ventures/License Agreements
13.7.4 Expansions
13.8 Competitive Leadership Mapping (Major Established Players)
13.8.1 Stars
13.8.2 Emerging Leaders
13.8.3 Pervasive Players
13.8.4 Participants
13.9 Strength of Product Portfolio
13.1 Business Strategy Excellence
13.11 SME Competitive Leadership Mapping (Start-Up/SME/Emerging Companies)
13.11.1 Progressive Company
13.11.2 Responsive Companies
13.11.3 Dynamic Companies
13.11.4 Starting Blocks
13.12 Winners Vs. Tail-Enders

14 Company Profiles
14.1 Yadea Group Holding Ltd.
14.2 Jiangsu Xinri e-Vehicle Co. Ltd.
14.3 Niu International
14.4 Silence Urban Ecomobility
14.5 Hero Electric
14.6 Vmoto Limited
14.7 Energica Motor Company
14.8 Zhejiang Luyuan Electric Vehicle Co. Ltd.
14.9 Askoll
14.1 GOVECS
14.11 Gogoro
14.12 Okinawa Autotech Pvt. Ltd.
14.13 Other Key Players
14.13.1 North America
14.13.1.1 Zero Motorcycles
14.13.1.2 Z Electric Vehicle
14.13.1.3 Harley Davidson
14.13.2 Europe
14.13.2.1 Eezeta
14.13.2.2 Johammer e-Mobility GmbH
14.13.2.3 Piaggio Group
14.13.2.4 KTM AG
14.13.2.5 BMW Group
14.13.3 Asia
14.13.3.1 Ather Energy
14.13.3.2 Aima Technology Group Co. Ltd.
14.13.3.3 Honda Motor Co. Ltd.
14.13.3.4 Ampere Vehicles
14.13.3.5 Dongguan Tailing Electric Vehicle Co. Ltd.
14.13.3.6 Terra Motors Corporation
14.13.3.7 Shandong Incalcu Electric Vehicle Co. Ltd.
14.13.3.8 Avan Motors India
14.13.3.9 Avon Cycles
14.13.3.10 Emflux Motors
14.13.3.11 TVS Motor Company
14.13.3.12 Bajaj Auto Ltd.
14.13.3.13 Mahindra & Mahindra

15 Analyst's Recommendations
15.1 Japan, Korea, and India Emerging as Promising Alternatives to China for Supply of Components
15.2 India and Other Emerging Markets Can be Key Focus Area for Manufacturers
15.3 Conclusion

16 Appendix
16.1 Key Insights of Industry Experts
16.2 Discussion Guide
16.3 Knowledge Store: The Subscription Portal
16.4 Available Customizations

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