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

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, May 3, 2024 /EINPresswire.com/ — The 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐒𝐜𝐨𝐨𝐭𝐞𝐫 𝐚𝐧𝐝 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰:

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.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐄𝐬𝐬𝐞𝐧𝐜𝐞 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬, 𝐆𝐨𝐯𝐞𝐜𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐋𝐢𝐠𝐡𝐭𝐧𝐢𝐧𝐠 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬, 𝐇𝐚𝐫𝐥𝐞𝐲 𝐃𝐚𝐯𝐢𝐝𝐬𝐨𝐧, 𝐇𝐨𝐧𝐝𝐚 𝐌𝐨𝐭𝐨𝐫𝐬, 𝐇𝐮𝐬𝐪𝐯𝐚𝐫𝐧𝐚 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞𝐬 𝐆𝐦𝐛𝐇, 𝐀𝐦𝐩𝐞𝐫𝐞 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐏𝐯𝐭 𝐋𝐭𝐝 (𝐆𝐫𝐞𝐚𝐯𝐞𝐬 𝐂𝐨𝐭𝐭𝐨𝐧), 𝐀𝐈𝐌𝐀 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐆𝐫𝐨𝐮𝐩 𝐂𝐨. 𝐋𝐭𝐝, 𝐄𝐧𝐞𝐫𝐠𝐢𝐜𝐚 𝐌𝐨𝐭𝐨𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐒.𝐩.𝐀, 𝐉𝐨𝐡𝐚𝐦𝐦𝐞𝐫 𝐞-𝐦𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐆𝐦𝐛𝐇, 𝐇𝐞𝐫𝐨 𝐄𝐜𝐨 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐏𝐯𝐭 𝐋𝐭𝐝, 𝐊𝐓𝐌 𝐀𝐆, 𝐀𝐥𝐭𝐚 𝐌𝐨𝐭𝐨𝐫𝐬, 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐭𝐢𝐨𝐧, 𝐁𝐥𝐚𝐜𝐤𝐬𝐦𝐢𝐭𝐡 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜, 𝐇𝐞𝐫𝐨 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜, 𝐁𝐞𝐥𝐥 𝐂𝐮𝐬𝐭𝐨𝐦 𝐂𝐲𝐜𝐥𝐞𝐬

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.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬:

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.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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
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