Selbyville, Delaware, Jan. 19, 2023 (GLOBE NEWSWIRE) --
Electric Motorcycles & Scooters Market is expected to record a valuation of USD 55 billion by 2032, according to a new research report by Global Market Insights Inc.
Emerging impacts of climate change and other pollution-related concerns will drive huge demand for electric two-wheelers. Vehicular emissions have become a major concern worldwide considering the increasing use of fossil fuel-powered vehicles and the incremental growth in the global population. Government authorities like the U.S. Environment Protection Agency (EPA) are taking steps to promote the use of clean mobility solutions to reduce greenhouse gases.
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In the Asia Pacific region, government bodies are providing subsidies to promote the sales of zero-emission vehicles. For instance, the Government of India has announced the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) scheme to support the adoption and manufacturing of electric vehicles.
The electric motorcycles segment accounted for around 32% share of the electric motorcycles & scooters market in 2022. The development of new and improved battery and powertrain technologies has supported the production of electric motorcycles with longer driving range and higher power output. Growing consumer demand for e-motorcycles with higher performance and speed should complement this growth. The need for cheaper urban transport alternatives will accelerate the purchase of these vehicles.
The lithium-ion battery segment held over 80% of the electric motorcycles & scooters market share in 2022. Li-ion batteries provide high power and energy output per unit of its mass. The reduced size and weight of these batteries compared to other rechargeable variants have elevated its use in electric two-wheelers. High consumer preference for removable/swappable batteries that are easy to install and lightweight should boost the integration of Li-ion batteries by e-mobility firms.
Electric motorcycles & scooters market revenue from other voltage segment, which constitutes of 12V-60V and 72V batteries, is poised to record more than USD 8 billion by 2032. High-voltage batteries, which can provide high power output and long charging cycles, are ideal for heavy-duty electric motorcycles. These batteries have a power rating of 12V-60V and 72V which can be used in heavy-duty electric motorcycles that offer longer range. On the other hand, small electric scooters used for conducting shorter daily commutes in metropolitan cities are mainly powered by 12-volt batteries. Rising fuel prices and a pressing need for cheaper urban mobility solutions will influence the use of 12V-60V and 72V batteries in electric two-wheelers.
North America electric motorcycles & scooters market size surpassed around USD 400 million in 2022. The sales of electric two-wheelers have elevated due to growing traffic concerns in the region. These vehicles are increasingly replacing gasoline-powered vehicles for performing daily commutes. Demand for connected electric bikes and scooters with smart ride solutions is also growing in the United States and Canada. The widespread use of GPS and other smart navigational technologies made available by OEMs will greatly influence vehicle sales across these countries.
To obtain a competitive edge in the rapidly expanding electric motorcycles & scooters market, companies including Harley, Zero Motorcycles, and NIU Technologies are concentrating on the development of lightweight powertrain systems that reduce the overall vehicle weight and improve its performance. New vehicle launches with advanced features will also complement industry growth.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Electric motorcycles & scooters industry 360° synopsis, 2018-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023-2032
2.3 Product trends
2.4 Battery trends
2.5 Voltage trend
2.6 Regional trends
Chapter 3 Electric Motorcycles & Scooters Market Insights
3.1 Introduction
3.2 Impact of COVID-19
3.3 Russia-Ukraine war impact
3.4 Semi-conductors shortage impact on industry
3.5 Industry ecosystem analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key initiative and news
3.9 Regulatory landscape
3.10 Electric vehicle sales
3.11 E-motor industry outlook
3.12 Industry impact forces
3.12.1 Growth drivers
3.12.1.1 Increasing government support for the promotion of e-mobility across the globe
3.12.1.2 Stringent emission regulations in North America
3.12.1.3 Growing presence of EV manufacturers in Europe and North America
3.12.1.4 Rising concerns about pollution levels in Asia Pacific
3.12.1.5 Growing awareness related to electric mobility in LATAM & MEA
3.12.2 Industry pitfalls & challenges
3.12.2.1 High initial investments in electric motorcycles & scooters
3.12.2.2 Limited charging infrastructure in developing economies
3.13 Growth potential analysis
3.14 Porter's analysis
3.15 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
