Consumers from emerging countries are already affected by the increased cost of petrol. Electrical two-wheelers operating on electricity will reduce the operating cost of these vehicles. These two-wheelers are more efficient than conventional ones. Electronic systems are more resistant than mechanical ones because they break less often due to less friction and, logically, less wear. As a result, electric two-wheeler vehicles last longer and therefore reduce the environmental impact in their use compared to vehicles powered by fuel. Manufacturers are expected to develop electric scooters and motorcycles that have a higher range than the current breed of electric two-wheelers.
The 48V segment is expected to be the largest voltage segment in the forecastIn Asia Pacific, most electric scooter/moped manufacturers prefer 48V batteries over 36V. For instance, Hero Electric is one of the leading Indian companies offering 48V electric scooters for daily commuting. Models such as VMOTO CUmini, Govecs Elmoto Loop, Sunra Lander, Zhejiang Luyan ZK5, INNO7, etc are models equipped with 48 V batteries. With improving battery technologies demand for batteries with higher voltage will have the highest adoption by automakers over the forecast period. Factors such as range and efficiency will also play a key role in the choice and selection of batteries by manufacturers which will determine the future demand for batteries.
Economy segment is expected to be the largest vehicle class segment during the forecast periodThe economy class segment is projected to be the larger segment in the electric scooter and motorcycle market during the forecast period due to the less initial price as compared with the luxury segment and the growing demand for affordable commuting. These kinds of electric scooters and motorcycles sell mostly in developing countries as an affordable alternative to other commuting options such as public transport buses and trains. Several well-established two-wheeler manufacturers have entered the Economic segment. China and India represent the most important markets for economy class electric scooters due to the high inclination of the consumers toward low-cost commutes. In Asia Pacific, electric scooters are primarily considered a flexible mode of transport for the daily commute and short-distance traveling.According to industry experts, most electric two-wheelers sold in India and China by major players fall in the range of USD 400 to USD 900 due to consumer spending patterns and current driving needs. For instance, companies such as Hero Electric, Pure EV, Okinawa, Ampere, and TVS cater to the economy segment in the Indian market. Similarly, the Chinese market is dominated by two-wheelers manufactured by Yadea, Jiangsu Xinri, and Luyuan. Yadea G5, Hero Nyx LX, Hero Flash LX, Revolt RV 400, Ampere Zeal Li, Vmoto TC, and TS are a few of the models in this category.
Lithium-ion battery is estimated to be the largest battery segment in the forecast periodThe lithium-ion segment is projected to be the fastest-growing electric scooter and motorcycle market during the forecast period. Manufacturers are attempting to develop electric scooters and motorcycles equipped with advanced lithium-ion batteries. The limited lifecycle and usable capacity are likely to shift the focus from lead-acid batteries to lithium-ion batteries and drive the electric scooter and motorcycle market during the forecast period.
Another advantage of a lithium-ion battery is that it is lightweight, which helps maintain the energy to weight ratio of the vehicle. Its electrodes are made of lithium and carbon. It can store more energy per kilogram of weight than a lead-acid battery. Lithium-ion batteries require less energy to keep them charged than lead-acid batteries. The charge cycle is 90% efficient for a lithium-ion battery vs. 80-85% for a lead-acid battery. Lithium-ion batteries are also considered more environmentally friendly than lead-acid batteries, making them a preferable choice. Also, the cost of lithium-ion batteries is high, but it has come down significantly in the last few years, which is expected to reduce further.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
- By Company Type: Tier I - 37%, Tier II - 48%, and OEMs - 15%
- By Designation: C Level Executives - 26%, Directors - 42%, and Others - 32%
- By Region: North America - 37%, Europe - 33%, and Asia Pacific - 30%
The electric scooter and motorcycle market comprises major companies such as Yadea Group Holdings Ltd. (China), Jiangsu Xinri E-Vehicle Co., Ltd. (China), NIU International (China), Silence Urban Ecomobility (Spain), and Hero Electric (India).
Research Coverage:The market study covers the electric scooter and motorcycle market size and future growth potential across different segments such as by vehicle type, battery type, distance covered, voltage, technology, vehicle class, by usage and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall electric scooter and motorcycle market and its subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.2 Market Dynamics
126.96.36.199 Rising fuel prices
188.8.131.52 Need to minimize the levels of collective carbon footprints
184.108.40.206 Increasing affordability of electric two-wheelers
220.127.116.11 Increasing Government initiatives toward electric mobility
18.104.22.168 High time consumed in recharging process
22.214.171.124 High cost of batteries along with high initial costs
126.96.36.199 Increasing consumer awareness toward alternate fuels
188.8.131.52 Growing advancements in battery technologies & R&D activities
184.108.40.206 Manufacturer focus on production of electric two-wheelers segment
220.127.116.11 Lack of recharging infrastructure
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Electric Scooter & Motorcycle Market, By Vehicle Type
7 Global Electric Scooter & Motorcycle Market, By Product Type
8 Global Electric Scooter & Motorcycle Market, By Battery Covered
8.2 Sealed lead acid
9 Global Electric Scooter & Motorcycle Market, By Distance Covered
9.2 Below 75 miles
9.3 75-100 Miles
9.4 Above 100 Miles
10 Global Electric Scooter & Motorcycle Market, By Technology
11 Global Electric Scooter & Motorcycle Market, By Voltage
12 Global Electric Scooter & Motorcycle Market, By Vehicle Class
13 Global Electric Scooter & Motorcycle Market, By Geography
13.2 North America
13.3 South America
13.4.6 Rest of Europe
13.5.6 South Korea
13.5.9 Rest of APAC
13.6 Rest of the World
13.6.2 Saudi Arabia
13.6.3 South Africa
13.6.4 United Arab Emirates
13.6.5 Latin America
14 Competitive Landscape
14.1 Competitive Quadrant
14.2 Market Share Analysis
14.3 Competitive Scenario
14.3.1 Mergers & Acquisitions
14.3.2 Agreement, Collaborations, & Partnerships
14.3.3 New Product Launches & Enhancements
14.3.4 Investments & Fundings
15 Company Profiles
15.1 AIMA Technology Group Co., Ltd
15.2 Ampere Vehicles Pvt Ltd (Greaves Cotton)
15.3 Energica Motor Company S.p.A
15.4 Govecs Group
15.5 Harley Davidson
15.6 Hero Eco Vehicles Pvt Ltd
15.7 KTM AG
15.8 Lightning Motorcycles
15.9 Mahindra GenZe
15.10 Shandong Incalcu Electric Vehicle Co. Ltd
15.12 Dongguan Tailing Electric Vehicle Co. Ltd
15.13 Terra Motors Corporation
15.14 Piaggio Group
15.15 BMW Motorrad International
15.16 TVS Motor Company
15.17 Zero Motorcycles
15.18 Vmoto Limited
15.19 Yadea Group Holding Ltd.
15.20 Emflux Motors
15.21 Bajaj Auto Ltd.
15.22 Electrotherm Ltd
15.23 Gogoro Inc
15.24 Jiangsu Xinri Electric Vehicle Co. Ltd.
- AIMA Technology Group Co., Ltd
- Ampere Vehicles Pvt Ltd (Greaves Cotton)
- Bajaj Auto Ltd.
- BMW Motorrad International
- Dongguan Tailing Electric Vehicle Co. Ltd
- Electrotherm Ltd
- Emflux Motors
- Energica Motor Company S.p.A
- Gogoro Inc
- Govecs Group
- Harley Davidson
- Hero Eco Vehicles Pvt Ltd
- Jiangsu Xinri Electric Vehicle Co. Ltd.
- KTM AG
- Lightning Motorcycles
- Mahindra GenZe
- Piaggio Group
- Shandong Incalcu Electric Vehicle Co. Ltd
- Terra Motors Corporation
- TVS Motor Company
- Vmoto Limited
- Yadea Group Holding Ltd.
- Zero Motorcycles