Electric motorcycles and scooters refers to two or three wheeled plug-in electric vehicles. The electricity that runs the vehicle is stored a rechargeable battery on the board. This rechargeable battery drives one or more electric motors. A surge in the government investment across the globe for the purpose of development of charging infrastructure and offering of incentives to buyer is boost the global electric motorcycle and scooter market. Such initiatives by the government will are likely to encourage original equipment manufacturers to expand their geographical presence.
Fushida, Gamma Technologies, Energica Motor Company S.p.A., Lima Electric Vehicle Co. Ltd., Shandong Incalu Electric Vehicle Co. Ltd., Mahindra & Mahindra Ltd., and Wuxi Yadea Export-Import Co., Ltd. are some of the companies profiled in the global electric motorcycle and scooter market.
Transparency Market Research (TMR) has prepared a study on the global electric motorcycle and scooter market, for the period 2019 to 2027. Expanding at a 7.1% CAGR, the global electric motorcycle and scooter market is estimated to surpass US$ 14.29 Bn through 2027.
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Driven by Large-Scale Manufacturing of Electric Vehicles, China to Lead the Market
In terms of region, the Asia Pacific is estimated to exert dominance over the global electric motorcycle and scooter market. Such regional supremacy of Asia Pacific is primarily due to the large-scale manufacturing, sale, and adoption of these products in China. The country alone has emerged as a leader in the global electric motorcycle and scooter market.
A rise in the emission together with government norms regulating the emissions in the environment is likely to encourage growth of the market in China. In addition to that, Chinese government is also offering subsidies, which has led to a rise in the adoption of these electric vehicles, thereby driving growth of the electric motorcycle and scooter market in the country.
Other major countries in Asia Pacific with growing adoption of two-wheeled electric motor vehicles are Taiwan, Japan, and India.
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Low Noise and Rapid Improvement in the Performance to Stoke its Demand
Electric motorcycle and scooters are substantially quieter than existing scooters and motorcycles that run of traditional power systems. These vehicles are so very silent that pedestrians are often caught unaware of their presence on road. As such, the low-noise feature of the vehicle is likely to propel growth of the global electric motorcycle and scooter market. At present, most of the electric motorcycles and scooters are encouraged by operated by rechargeable lithium-ion batteries and sealed with lead acid batteries.
Growing demand for alternative and clean fuels for various means of transport has emerged as growth factor for the global electric motorcycle and scooter market. These vehicles are quiet and lightweight when compared to vehicles running on traditional fuels.
In addition, the performance of such electric vehicles has witnessed rapid improvement since its inception. The performance is anticipated to improve further with the advancement of technology and its rapid adoption by the electric vehicle industry. Factors such as these are likely to shape the future of the global electric motorcycle and scooter market in the years to come.
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