The global Electric Scooter and Motorcycle Market is expected to account for 6,193 thousand units by 2027, growing at a CAGR of 33.1% during the forecast period. The base year for the report is 2021, and the forecast period is from 2022 to 2027. Factors such as growing demand for energy-efficient commuting and governments supporting electric two-wheelers through subsidies & tax rebates have compelled two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers.
The Electric Scooter and Motorcycle Market has promising growth potential due to several factors, including the improving charging infrastructure, innovative battery technologies, increasing demand for efficient commuting options, and improving design & performance specifications. The rapidly growing sales volume of affordable E-Scooters in Asia Pacific, especially in China has propelled the growth of the global Electric Scooter and Motorcycle Market.
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In the Electric Scooter and Motorcycle Market, by technology type, the plug-in segment is projected to dominate the market during the forecast period. The market for plug-in electric two wheelers is estimated to be the largest and grow faster due to the larger adoption of Lithium-ion batteries. The plug-in option offers advantages such as the convenience of home charging and public charging facilities provided by the manufacturers and governments. They also offer the option of better battery optimization as in many e-scooters and motorcycles, an option of dual battery is offered, which can be used while the other one is charging, thus reducing the waiting time.
As of 2021, a majority of the manufacturers have been offering plug-in electric scooters and motorcycles. Yadea, Luyuan, and NIU are some major players providing plug-in electric vehicles in China. In contrast, Hero Electric (India), Okinawa Autotech Pvt Ltd (India), Ather Energy (India), and Ampere Vehicles (India) try to cater to the increasing demand for plug-in electric vehicles in India.
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Europe presents a significant growth opportunity for electric scooters and motorcycles as it is expected to be the second-largest market during the forecast period. The increasing concerns over carbon emissions by conventional ICE two-wheelers and efficiency in this mode of travel have led the European two wheeler manufacturers to develop electric scooters and motorcycles, which has propelled the growth of the Electric Scooter and Motorcycle Market . The demand for electric scooters is strong for private use by the end users, while the fleet market is experiencing some downsides due to the sharp economic decline during the COVID-19 pandemic. Demand for smart, light, removable, easy-to-charge, and affordable is increasing from the end users. Based on the sales data for 2021, NIU (China), V-Moto (Australia), and Askoll (Italy) dominate the market in Europe.
Key Market Players:
The major players in global electric scooter and motorcycle market include Yadea Group Holdings Ltd. (China), Jiangsu Xinri E-Vehicle Co., Ltd. (China), NIU International (China), Silence Urban Ecomobility (Spain), Zhejiang Luyuan Electric Vehicle Co., Ltd (China) and Hero Electric (India). These companies offer extensive products and solutions for the electric two-wheeler industry; have strong distribution networks at the global level, and invest heavily in R&D to develop new products.
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