Global Electric Scooter and Motorcycle Market Analysis and Forecast 2017-2025 - Market is Expected to Reach $22+ Billion
DUBLIN, November 23, 2017 /PRNewswire/ --
The "Electric Scooter and Motorcycle Market: Analysis and Forecast to 2025" report has been added to Research and Markets' offering.
The global electric scooter and motorcycle market size was $12,961.8 million in 2016, and is expected to reach $22,192.0 million by 2025, growing at a CAGR of 6.9% during 2017-2025.
The electric scooters and motorcycles have been categorized into 48V, 24V, 36v and are available in even more voltages like 60V and 72V. The speed of the scooter and motorcycle range from 30 km/hr to 70 km/hr. All electric scooters and motorcycles are provided recharging by plugging into ordinary wall outlets, usually taking about eight hours to charge.
As per the findings of the research, electric scooters were in higher demand compared to electric motorcycles. Sealed lead acid battery vehicles have been the largest revenue contributor in the global market; however, Li-ion battery based scooters and motorcycles are expected to witness the highest growth in demand, during the forecast period. China had been globally the largest market for these electric vehicles; whereas, the market is expected to witness the highest growth in India, during the forecast period.
Geographically, Asia-Pacific accounted for more than 90% of the global electric scooter and motorcycle shipments in 2016. The highest growth in shipment is expected in Europe, during the forecast period; however, the market in North America is also expected to grow at nearly the same rate.
The growth of the electric scooters and motorcycles market in Asia-Pacific is due to rapid urbanization and increase in household incomes, which is attracting the consumers to replace their fuel-driven two-wheelers with the electric variant. China, India, Indonesia, Japan and S. Korea are the major electric two-wheeler markets in Asia-Pacific; other major markets in the region include Australia, and Vietnam.
The increasing global release of carbon by burning fuel on roads has been a great concern for environmentalists and governments from the past decade. This concern has led to increase in further demand of electric vehicles (EV) and their adoption worldwide. Electric scooter and motorcycle, while reducing the carbon footprints on environment, have gained significant interest from various governments as efficient and reliable type of light motor vehicles (LMVs). To encourage the use of environment friendly vehicles with low emissions, benefits such as reduction in the registration tax and other liabilities have been offered by government of different countries. This factor is significantly responsible for the rise in the development and adoption of electric scooter and motorcycle by users in various countries.
Market Dynamics
Trends
- Increased adoption of e-mobility
Drivers
- Tax concession on eco-friendly vehicles
- Growing concern for carbon emission in environment
- Development of smart cities
- Low maintenance-eliminating periodic servicing
- Favourable regulatory environment
- Impact analysis of drivers on market forecast
Restraints
- Lack of availability of charging infrastructure
- Deprived performance of electric vehicles
- Impact analysis of restraints on market forecast
Opportunities
- Availability of smart charging stations
- Food and beverage delivery
Key Topics Covered:
1. Research Background
2. Research Methodology
3. Executive Summary
4. Introduction
5. Market Size and Forecast by Product
6. Market Size and Forecast by Battery Type
7. Market Size and Forecast by Voltage
8. Market Size and Forecast by Technology
9. Market Size and Forecast by Geography
10. Competitive Landscape
11. Company Profiles
- Amego Electric Vehicles Inc.
- Alta Motors
- Bayerische Motoren Werke (BMW) AG
- Govecs Group
- AIMA Technology Co. Ltd.11.5.1 Business Overview
- Ampere Vehicles Pvt. Ltd
- Energica Motor Company S.p.A.
- Hero Electric Vehicles Pvt. Ltd.
- Mahindra GenZe
- VMOTO Limited
For more information about this report visit https://www.researchandmarkets.com/research/bjz7m9/electric_scooter
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SOURCE Research and Markets
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