Le Lézard
Classified in: Environment, Transportation, Science and technology
Subject: MRR

Electric Scooter and Motorcycle Market worth $14.7 billion by 2028 - Exclusive Report by MarketsandMarketstm


CHICAGO, March 30, 2023 /PRNewswire/ -- Electric Scooter and Motorcycle Market by value, is estimated to be USD 4.9 billion in 2023 and is projected to reach USD 14.7 billion by 2028, at a CAGR of 24.8% from 2023 to 2028, according to a new report by MarketsandMarketstm. The market for electric scooters and motorcycles is expected to rise as a result of reasons including rising fuel prices, the adoption of emissions-free transportation, and advantageous government policies including subsidies and tax refunds.

MarketsandMarkets_Logo

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=142827777

Browse in-depth TOC on "Electric Scooter and Motorcycle Market"

120 - Tables
90 - Figures
320 - Pages

Electric Scooter and Motorcycle Market Scope:

Report Coverage

Details

Market Size

USD 14.7 billion by 2028

Growth Rate

24.8% of CAGR

Largest Market

Asia Pacific

Market Dynamics

Drivers, Restraints, Opportunities & Challenges

Forecast Period

2023-2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Vehicle Type, Battery, Distance Covered, Voltage, Technology, Vehicle Class Usage, and Region

Geographies Covered

Asia Pacific, Europe, and the Americas

Report Highlights

Updated financial information/Company Evaluation Quadrant

Key Market Opportunities

Use of IoT and Smart Infrastructure in Electric Two Wheelers Charging Station for Load Management

Key Market Drivers

Implementation of Battery Swapping Technology

 

Government agencies from several nations are creating lucrative incentives and programmes to entice people to purchase electric two-wheelers, including significant discounts, initially free electricity, and free public charging stations. In addition, governments are collaborating with producers to construct charging and production facilities, exempting them from taxes. These elements are anticipated to fuel the demand for electric scooters and motorcycles in the future.

The potential of electric mobility, which can prevent environmental damage, reduce global warming, as well as reduce dependence on oil-producing nations, has been recognised by governments around the world. This can result in significant savings on import costs and help manage foreign exchange risks. These government incentives will be essential in influencing the market.

Europe is expected to be the second-largest market during the forecast

Europe is home to many electric two-wheeler manufacturing companies such as Energica Motor Company (Italy), GOVECS (Germany), and Piaggio (Italy). The automotive industry is one of the key contributors to Europe's economy. The European region is segmented into Germany, France, Spain, Austria, Belgium, the Netherlands, Poland, Denmark, Italy, and UK. 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. Government initiatives have encouraged the key players in the market to develop advanced electric two-wheelers as well as the infrastructure for charging facilities. The demand for electric two-wheelers has allowed new players to increase their presence in the region. Governments of various European countries are subsidizing electric infrastructure, and the focus will continue to be on electric vehicles in the long run. Hence, the electric scooters and motorcycles market will grow in the future in Europe. In December 2022, Astara has signed a strategic partnership with Silence Urban Ecomobility to distribute their electric scooters and vehicles for micro mobility in Belgium and Luxembourg.

The below 75 miles segment is expected to be the largest segment in the forecast

The below 75 miles segment is estimated to lead the global electric scooter and motorcycle market, as most electric scooters/mopeds have a range of up to 75 miles. The below 75 miles range market will be the largest and fastest growing over the forecast period. Many models within this range are popular in the Asia Pacific region, which will play a vital role in driving the market growth. Yadea G5, Xinri Shiny, Hero Optima HX (single battery), Okinawa R30 (Lithium Ion) and Flash LX (lead-acid battery) are some of the popular electric scooters and motorycles. Manufacturers have created battery technology with a higher range due to ongoing advancements in battery R&D. Thus, the above 100 miles segment is anticipated to grow at a higher CAGR than other segments. In 2022, iVOOMi Energy launched iVOOMi S1, vehicle is equipped with the 4.2 Kwh twin removable battery setup on the iVOOMi S1 provides a range of 240 km/charge under Indian Driving Conditions (IDC). In addition to this, Revolt RV 400, Ola S1, ZERO SR, Johammer J1, Zero Motorcycle DSR/X, Energica Experia etc., offer a range of over 100 miles. The market is therefore expected to expand in the future as OEMs prepare to introduce vehicle models for electric two-wheelers in the higher range.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=142827777

Key Market Players:

The major players in global electric scooter and motorcycle market include Yadea Technology Group Co.,Ltd. (China), Jiangsu Xinri E-Vehicle Co., Ltd (China), NIU International (China), Hero Electric (India), and Okinawa Autotech Internationall Private Limited (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.

Recent Developments

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=142827777 

Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting

Related Reports:

E-bike Market - Global Forecasts to 2027

Light Electric Vehicles (LEVs) Market - Global Forecasts to 2027

EV Battery Market - Global Forecasts to 2027

EV Charging Station Market - Global Forecasts to 2027

About MarketsandMarketstm:

MarketsandMarketstm is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStoretm (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarketstm.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarketstm INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/electric-scooter-motorcycle-market.asp        
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/electric-scooter-motorcycle.asp       

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

 

SOURCE MarketsandMarkets


These press releases may also interest you

at 10:00
Driving is the leading cause of work-related death each year in the United States, with nearly 40% of deaths on the job occurring on American roads according to the U.S. Bureau of Labor Statistics. A major contributing factor to road deaths each...

at 09:45
Truckin Digital, an innovator in logistics and transportation software solutions, is thrilled to unveil its 2024 Trucking Software ERP, a comprehensive suite designed to improve trucking operational capabilities. This latest release promises to...

at 09:20
This strategic move...

at 09:15
101 Mobility® is thrilled to announce the opening of its newest location in Eden Prairie, marking the introduction of the city's first nationally branded full-service provider of a wide range of mobility equipment. This includes stair lifts, ramps,...

at 09:13
The trucking industry says new emission standards for heavy-duty trucks announced today by the Biden Administration have unachievable targets and will carry real consequences for the U.S. supply chain and movement of freight throughout the economy....

at 08:55
Shield AI, Inc., a defense technology company building the world's best AI pilot, and Kratos Defense & Security Solutions, Inc. , a Technology Company in the Defense, National Security and Global Markets and an industry-leading provider of...



News published on and distributed by: