Electric Scooter and Motorcycle Market is poised to reach $93.9 billion by 2031 | Essence Motorcycles, Electric Motion
Electric Scooter and Motorcycle Market
The concept of electric scooter and motorcycle is typically attributed to the transportation options that use a propulsion technology
โ Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, May 3, 2024 /EINPresswire.com/ — The ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐๐จ๐จ๐ญ๐๐ซ ๐๐ง๐ ๐๐จ๐ญ๐จ๐ซ๐๐ฒ๐๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐๐จ๐ฐ:
The global electric scooter and motorcycle market was valued at $35.3 billion in 2021, and is projected to reach $93.9 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.
The factors such as increase in government initiatives toward electric mobility, rise in fuel prices, and consumer inclination toward use of e-bikes as an eco-friendly & efficient solution for commute supplement the growth of the electric scooter and motorcycle market. However, high initial cost of e-bikes and scooter and ban on use of e-bikes in major cities of China are the factors expected to hamper the growth of the market. In addition, improvement in infrastructure and growth in advancement in battery technology create market opportunities for the key players operating in the market.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
๐๐ฌ๐ฌ๐๐ง๐๐ ๐๐จ๐ญ๐จ๐ซ๐๐ฒ๐๐ฅ๐๐ฌ, ๐๐จ๐ฏ๐๐๐ฌ ๐๐ซ๐จ๐ฎ๐ฉ, ๐๐ข๐ ๐ก๐ญ๐ง๐ข๐ง๐ ๐๐จ๐ญ๐จ๐ซ๐๐ฒ๐๐ฅ๐๐ฌ, ๐๐๐ซ๐ฅ๐๐ฒ ๐๐๐ฏ๐ข๐๐ฌ๐จ๐ง, ๐๐จ๐ง๐๐ ๐๐จ๐ญ๐จ๐ซ๐ฌ, ๐๐ฎ๐ฌ๐ช๐ฏ๐๐ซ๐ง๐ ๐๐จ๐ญ๐จ๐ซ๐๐ฒ๐๐ฅ๐๐ฌ ๐๐ฆ๐๐, ๐๐ฆ๐ฉ๐๐ซ๐ ๐๐๐ก๐ข๐๐ฅ๐๐ฌ ๐๐ฏ๐ญ ๐๐ญ๐ (๐๐ซ๐๐๐ฏ๐๐ฌ ๐๐จ๐ญ๐ญ๐จ๐ง), ๐๐๐๐ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ ๐๐ซ๐จ๐ฎ๐ฉ ๐๐จ. ๐๐ญ๐, ๐๐ง๐๐ซ๐ ๐ข๐๐ ๐๐จ๐ญ๐จ๐ซ ๐๐จ๐ฆ๐ฉ๐๐ง๐ฒ ๐.๐ฉ.๐, ๐๐จ๐ก๐๐ฆ๐ฆ๐๐ซ ๐-๐ฆ๐จ๐๐ข๐ฅ๐ข๐ญ๐ฒ ๐๐ฆ๐๐, ๐๐๐ซ๐จ ๐๐๐จ ๐๐๐ก๐ข๐๐ฅ๐๐ฌ ๐๐ฏ๐ญ ๐๐ญ๐, ๐๐๐ ๐๐, ๐๐ฅ๐ญ๐ ๐๐จ๐ญ๐จ๐ซ๐ฌ, ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐จ๐ญ๐ข๐จ๐ง, ๐๐ฅ๐๐๐ค๐ฌ๐ฆ๐ข๐ญ๐ก ๐๐ฅ๐๐๐ญ๐ซ๐ข๐, ๐๐๐ซ๐จ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐, ๐๐๐ฅ๐ฅ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐๐ฒ๐๐ฅ๐๐ฌ
Based on vehicle type, the e-scooter/moped segment held the dominating market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The e-motorcycle segment, on the other hand, is expected to cite the fastest CAGR of 17.9% during the forecast period.
๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ:
The concept of electric scooter and motorcycle is typically attributed to the transportation options that use a propulsion technology, which does not produce internal combustion engine exhaust or other carbon emissions when it operates. The concept of electric motorcycle or scooter is integrated with an electric motor and rechargeable batteries for forwarding propulsion. It is primarily designed to replace conventional ways of travel as they lead to environmental pollution. The electric motorcycle & scooters are the upcoming technology that has already gained traction in various countries, including the U.S., Netherland, China, India, and Japan. Furthermore, various initiatives by governments for adoption of small electric mobility is expected to create numerous opportunities for key players operating worldwide. For instance, in 2020, Taiwan began providing a subsidy of up to $900-$1000 for the purchase of new electric motorcycles/scooters. Owing to the implementation of such plans, in December 2019, local startup Gogoro sold a record of 22,500 units. It also ended 2019 with 145,000 sales in Taiwan.
Based on vehicle class, the economy segment held the dominating market share in 2021, holding nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The luxury segment, on the other hand, is expected to cite the fastest CAGR of 13.8% during the forecast period.
The report analyzes these key players in the global electric scooter and motorcycle market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
Based on region, the market across the Asia-Pacific region held the largest market share in 2021, holding more than three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 13.3% during the forecast period.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ:
In addition, the electric scooter and motorcycle market has witnessed significant growth in recent years, owing to increased demand for improved vehicle performance and the inclination of consumers toward environment-friendly vehicles. Furthermore, the companies operating in the market have adopted partnerships, investments, and product launches to increase their market share and expand their geographical presence. For instance, in May 2022, Hero Electric announced a partnership with Cholamandalam Investment and Finance Company Ltd. (Chola), which was the financial services arm of Murugappa Group, to offer easy and smart financing options for its electric two-wheelers.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
By vehicle type, the E-Motorcycle segment dominated the global electric scooter and motorcycle market in terms of growth rate.
By battery type, the others segment dominated the global market in terms of growth rate.
By range, the more than 100 miles segment dominated the global market in terms of growth rate.
By power, the more than 5kW segment dominated the global market in terms of growth rate.
By vehicle class, the luxury segment dominated the global market in terms of growth rate.
By usage, the commercial segment dominated the global electric scooter and motorcycle market in terms of growth rate.
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ ๐ซ๐๐ฅ๐๐ญ๐๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ฉ๐ฎ๐๐ฅ๐ข๐ฌ๐ก๐๐ ๐๐ฒ ๐๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Electric Bikes Market –
Electric Vehicle Market –
Electric Vehicle Motor Market –
Electric Drive Mining Truck Market – https://www.globenewswire.com/en/news-release/2023/02/06/2602367/0/en/Electric-Drive-Mining-Truck-Market-to-Generate-815-4-Million-by-2031-Allied-Market-Research.html
David Correa
Allied Market Research
+1 503-894-6022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
link