The global Electric Scooter and Motorcycle Market size was USD 5297.7 million in 2019, and it is expected to reach USD 7283.5 Million by the end of 2026, with a CAGR of 4.6% during the forecast period 2021-2026.
Major factors driving the growth of electric motorcycle & scooters market size are improving charging infrastructure, innovative battery technologies, increasing demand for efficient commuting options, and improving design & performance specifications, very less maintenance compared to Internal combustion engine scooter and motorcycle.
TRENDS INFLUENCING THE ELECTRIC SCOOTER AND MOTORCYCLE MARKET SIZE
Increasing demand for high-performance and long-range electric motorcycles is expected to drive the electric motorcycle & scooter market size. The shift in consumer preferences towards electric motorcycles due to an increase in harmful carbon emissions is increasing the Electric motorcycle demand. Electric motorcycles help to significantly reduce CO2 emissions, carbon footprints, and noise pollution, thus gaining popularity over internal combustion engine (ICE) powered motorcycles.
Countries implementing regulations and policies in favor of electric two-wheelers are expected to fuel electric motorcycle & scooter market size growth. Many countries have recognized the need for electric power to reduce the increasing pollution from cars.
Technological advancements in the field of motors and battery management systems will fuel the growth of electric motorcycles and scooter market size. For example, the development of Interior Permanent Magnet (IPM) engines that provide optimized power and efficiency to enhance the performance of electric motorcycles and scooters. This will, in turn, fuel the electric motorcycles and scooters market growth. These engine's compact size and reduced weight provide enhanced power and acceleration for electric scooter and motorcycle.
Features such as low operating and maintenance costs are expected to drive the electric motorcycle & scooter market size growth. Consumers in emerging countries are already affected by the increased cost of petrol. Electrical two-wheelers operating on electricity will definitely reduce the operating costs of these vehicles. Manufacturers are expected to develop electric scooters and motorcycles with a higher range than the current generation of electric two-wheelers.
However, the lack of charging infrastructure might hinder the market growth. A widespread and extensive charging infrastructure network is needed for users.
ELECTRIC SCOOTER AND MOTORCYCLE MARKET SHARE ANALYSIS
By Type, Electric Scooter type occupies the largest market share and segments reach 98.36
The E-Motorcycle segment is expected to be the fastest-growing segment during the forecast period. Manufacturers are focused on developing e-scooters/mopeds because they have a more suitable design to incorporate the electrical propulsion system.
By Application, Retail stores were the most used area, accounting for 92 percent of all applications
By RegiChina held the largest sales of Electric Scooter and Motorcycle Market share and is expected to continue its dominance during the forecast period. China's sales volume took up about 93.42% of the global market in 2017, but it changed in 2018 due to the saturated demand.
China's sales share dropped to 92.86% in 2019. At the same time, the export to Europe and the USA increased dramatically. Apparently, many Chinese producers of Electric Motorcycles & Scooters are trying their best to look for a new growing-market.
- Electric Bus Market size will increase from USD 88,632.45 Million in 2018 to USD 183,269.78 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 10.93%.
- Electric truck market size was valued at USD 422.5 Million in 2019 and is projected to reach USD 1,893.1 Million by 2027, registering a CAGR of 25.8% from 2020 to 2027. Asia-Pacific accounted for the highest share in the global electric truck market in 2019 in terms of revenue, and LAMEA is anticipated to exhibit a remarkable growth rate during the electric truck market forecast period.
- Electric Car Market size is projected to reach USD 1438.8 billion by 2025 with a CAGR of 19.40%.
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- Solid State Battery Market size is projected to reach USD 13680 Million by 2026, from USD 1172.4 Million in 2020, at a CAGR of 50.6% during the forecast period 2021-2026.
- Lead acid battery market size was valued at USD 39.7 billion in 2018, and is projected to reach USD 59.7 billion by 2026, growing at a CAGR of 5.24% from 2019 to 2026.
- The lithium-ion battery market was valued at USD 36.7 Billion in 2019, and is projected to hit USD 129.3 Billion by 2027, at a CAGR of 18.0% from 2020 to 2027.
- Graphene battery market size was valued at USD 48.8 Million in 2019 and is projected to reach USD 398.6 Million by 2027, to register a CAGR of 31.2% during the forecast period.
- Electric Traction Motor market size is projected to reach USD 27860 Million by 2026, from USD 12260 Million in 2020, at a CAGR of 14.7% during 2021-2026.
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