The main factor driving the growth of electric scooter and motorcycle market is acceptance of electric scooter and motorcycle because of minimum operational and maintenance charges. The maintenance charge of electric scooter and motorcycle is low as they have fewer moving parts as compared to petrol or diesel-run two-wheelers. Furthermore, environmental-friendly guidelines to control pollution and minimum dependency on fossil fuels will outgrowth the market statistics. Growing government investments across the world to increase EV uptake is anticipated to surge the market demand for electric scooter and motorcycle. However, lack of charging infrastructure and lack of power output along with limited range are some of the factors restraining the growth of the electric scooter and motorcycle market.
The global electric scooter and motorcycle market is categorized on the basis of products namely, scooter, and motorcycle. Among these , scooter have the maximum share in the market. Along with this, the electric scooter and motorcycle market is also categorized based on battery type, that include Sealed Lead Acid, Li-Ion, and NiMH. Among these battery types, Li-Ion has the maximum share in the market. Manufacturers are trying to produce electric scooter and motorcycle prepared with innovative lithium-ion batteries. The inadequate lifecycle along with less capacity are expected to move the focus from sealed lead acid batteries to li-ion batteries. Moreover, the electric scooter and motorcycle market is also categorized based on voltage, that include 24V, 36V, 48V, and greater than 48V.
On the basis of region, categorization of electric scooter and motorcycle market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific holds the largest share of the electric scooter and motorcycle market. Large sales manufacturing as well as sales volume in China, increasing demand for reasonable electric scooters for short-distance travelling, and regualtions and promotions by governments, electric two-wheelers are anticipated to drive the electric scooter and motorcycle market in Asia Pacific region. Additionally, the development is attributed to the presence of growing number of electric scooter and motorcycle manufacturers and increasing vehicle charging infrastructural investments in nations such as China, Japan, India, and Taiwan. Thus, Asia Pacific region is expected to see the fastest development during the forecast period from 2021 to 2028.
COVID-19 has affected every aspect of life globally and hence most of the business have been halted and hampered. The electric scooter and motorcycle market has shown a substantial dip in the year 2020 due to COVID-19. COVID-19 outbreak hit almost the entire world, various industries suffered threatening losses, and the automotive industry was also not secured from the undesirable impact. Because of restrictions on movement, many manufacturing facilities were closed, delaying product rollouts. This has hampered the electric scooters market development to a large extent. However, as the services are resuming, the electric scooter and motorcycle market will mark its position like before COVID-19 pandemic.
Some of the key players from the electric scooter and motorcycle market include Ather Energy Private Limited, Bajaj Auto Limited, BMW of North America, LLC., Evoke Electric Motorcycles (HK) Ltd., Hero Electric Vehicles Pvt. Ltd., Johammer e-mobility GmbH, KTM Sportmotorcycle GmbH, Revolt Motors, Gogoro Inc., and Mahindra GenZe among others. Incorporation of advanced technology for improved performance of electric scooter and motorcycle, along with intensive research and development are among main strategies adopted by top players in the electric scooter and motorcycle market.
Recent News and Development:
- In July 2021, BMW of North America, LLC., discovered new CE 04 electric scooter, friction control system, along with a futuristic look.
- In June 2021, Bajaj Auto announced the delivery of Chetak e-scooters to begin in September, Chetak e-scooters will be launched in two variants, Chetak Premium and Chetak Urban.
- In February 2018, Hero Electric Vehicles Pvt. Ltd. launched AXLHE-20, This scooter is the most powerful model presently being presented by the company.