Redding, California, June 07, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Asia-Pacific Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-scooters & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology (SLA, Li-ion, Li-ion Polymer), Motor Type, Charging Type, End User, and Country, ” the APAC electric scooter market is expected to record a CAGR of 28.9% from 2022–2029 to reach $625.03 billion by 2029. By volume, this market is expected to grow at a CAGR of 26.4% from 2022–2029 to reach 266.04 million units by 2029.
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5242
Electric scooters comprise different types of e-bikes, including kick scooters, electric motorcycles, and electric mopeds. Electric kick scooters are vehicles consisting of a footboard mounted on two wheels and a long steering handle, propelled by resting one foot on the footboard and pushing the other against the ground, assisted by an electric motor.
Electric scooters are used for private and public transportation, shared mobility, micro-mobility, logistics, short commutes, and industrial applications. The adoption of electric scooters is on the rise due to favorable government policies and regulations in south-east Asian countries, the rising environmental concerns, and the increasing investments by OEMs & ride-hailing companies in the micro-mobility space.
Impact of COVID-19 on the Asia-Pacific Electric Scooter Market
The COVID-19 pandemic negatively affected numerous branches of the economy, including significant effects on the urban transport industry. The pandemic severely impacted several sectors, including the automotive sector, with major manufacturers shutting down their operations completely or operating at reduced capacities following the directives issued by their respective governments. Complete lockdowns and quarantines induced by the COVID-19 pandemic severely affected the automotive industry. Uncertainty regarding the duration of the lockdown and supply-chain disruptions made it more difficult for industry players to anticipate the recovery of the industry. This crisis caused structural shifts that had significant implications on the market.
In 2019, the global sales count of electric scooters, including e-scooters and bikes, had crossed 45 million units. However, the COVID-19 outbreak resulted in disrupted supply chains, reduced operations and limited workforces, and factory closures. This caused a severe decline in vehicle sales, especially in the electric vehicles segment. However, the electric scooters market is expected to recover quickly due to the strong market growth in China.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5242
According to predictions, developed areas in China are poised to have a strong recovery. Aggressive government initiatives for stabilizing the automobile industry are anticipated as the key factor in triggering the adoption rate in the coming years. For instance, the Government of India announced an amendment to the FAME-II policy, in which electric two-wheeler makers can give a discount of almost 40% of their scooters or bike value.
Governments of Asian countries are planning to make bicycles a major part of transportation facilities. For instance, The Revitalization Council of Hachijo Island, in the Pacific Ocean off the coast of Japan, started an electric bicycle rental service utilizing green energy. These electric bicycles use geothermal power and wind power generated by a windmill in the town hall and can run for about 15 kilometers on a single charge. The charging points for these electric bicycles are located at hot springs, supermarkets, and other locations, and their use is included in the ¥2,500 (about USD 30) daily rental fee.
The Asia-Pacific electric scooter market is segmented based on vehicle type, power output, battery technology, motor type, charging type, end user, and country. The study also evaluates industry competitors and analyzes the market at the country level.
Based on vehicle type, the electric motorcycles segment is estimated to account for the largest share of the Asia-Pacific electric scooters market in 2022. The large share of this segment is attributed to increasing government policies for promoting electric mobility, the growing awareness regarding the need to reduce greenhouse gas emissions and environmental pollution, the rising demand for electric motorcycles among consumers, the rise in gasoline prices, and the rising number of stringent emission norms.
Electric motorcycles have fewer moving parts than fuel-powered ones, making them more lightweight and agile; hence automobile companies are focusing on research and development and partnering with other electric motorcycles manufacturers to enhance the performance of electric motorcycles. For instance, Hero MotoCorp Ltd. (India) and Gogoro Inc. (Taiwan) announced a strategic partnership to accelerate India's transition to sustainable electric mobility. This partnership was aimed at establishing a battery swapping joint venture to bring Gogoro’s industry-leading battery swapping platform to India and collaborate on electric vehicle development to bring Hero-branded, powered by Gogoro Network vehicles to the market.
Quick Buy – “Asia-Pacific Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-scooters & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End User, and Country - Regional Forecasts to 2029” Research Report: https://www.meticulousresearch.com/Checkout/38537760
Based on power output, the less than 3.6 kW segment is estimated to account for the largest share of the Asia-Pacific electric scooters market in 2022. Less than 3.6 kW of power is widely used in electric kick scooters. The large share of this segment is attributed to its potential to serve as the last mile conveyance for short distances eliminating the cost of fuel, maintenance, service, and other miscellaneous costs. The factors driving the less than 3.6 kW powered electric kick scooters are the rising deployment of kick scooters for shared mobility services, the growing popularity of electric vehicles, the growing awareness regarding the environmental advantages of electric kick scooters, and positive government regulations to encourage the use of electric kick scooters.
Based on battery technology, the lithium-ion battery segment is estimated to account for the largest share of the Asia-Pacific electric scooter market in 2022. The large share of this segment is attributed to the increasing usage of electric and hybrid electric vehicles and the rising adoption of battery technology in the renewable energy industry. However, the lithium-ion polymer (LiPo) battery segment is expected to grow at the highest CAGR during the forecast period.
Based on motor type, the hub motors segment is estimated to account for the largest share of the Asia-Pacific electric scooter market in 2022. The growth of this segment is attributed to high flexibility and the capability to run in all-wheel-drive, providing higher stability. A hub motor includes a wheel with a motor inside of it. There are two types of hub motors: geared hub motors with internal planetary gears to reduce the speed of a higher RPM motor and gearless hub motors, which have no gearing and directly connect the lower RPM motor stator’s axle to the bike. Furthermore, gearless hub motors have zero moving parts aside from their bearings, so there is nothing to wear out.
Based on charging type, the connector charging segment is estimated to account for the largest share of the Asia-Pacific electric scooters market in 2022. The growth of this segment is attributed to its potential to withstand range anxiety issues due to its faster charging platform. Different companies are investing in a two-wheeler charging station network to expand their growth in the global market. For instance, Ola Electric revealed its plans to set up the world's largest electric two-wheeler charging network. It unveiled the Ola Hypercharger Network, the charging network for its upcoming two-wheeler products, starting with the Ola Scooter. The Ola Hypercharger Network will be the widest and densest electric two-wheeler charging network globally, with more than 100,000 charging points across 400 cities. In the first year alone, Ola is setting up over 5,000 charging points across 100 cities in India, more than double the existing charging infrastructure in the country.
Based on end user, the business organizations segment is estimated to account for the largest share of the Asia-Pacific electric scooter market in 2022. The large share of this segment is attributed to the government initiatives to push towards faster EV adoption, last-mile transportation, and reducing road congestion. Business organizations use e-scooters for logistics and public transportation, particularly for courier and delivery services. Major e-commerce platforms have started using e-scooters for their delivery services. In October 2020, Amazon started delivery services with Urb-E bikes and trailers to make the delivery more efficient and reduce greenhouse gas emissions. Urb-E also provides its e-scooters to UPS in Los Angeles. Similarly, Walmart also uses motorized shopping carts for internal logistic transportation. Furthermore, in January 2020, Ampere Vehicles partnered with online grocery delivery unicorn Bigbasket to electrify the process in six metro cities in India, including Bengaluru, Chennai, Hyderabad, Mumbai, Pune, and Delhi NCR.
Based on country, China is estimated to account for the largest share of the Asia-Pacific electric scooters market in 2022. Growing government support, the increasing number of charging infrastructures, the growing strategic business developments by energy companies, the rise in fuel prices, and the increasing awareness regarding environmental concerns are driving the growth of electric scooters in the Chinese market. The Chinese market is rapidly adopting electric vehicles; for instance, in 2020, China reported the sale of 1.3 million electric vehicles. The Chinese government is also taking the initiative to promote EVs. In 2019, Chinese vehicle manufacturers and importers were required to make or import at least 10% of electric vehicles. This percentage was increased to 12% in 2020, which increased the adoption of electric vehicles in the Chinese market. Also, in 2019, the Chinese government reduced the subsidies that government provides to the manufacturers of electric vehicles to drive the electric vehicle market.
However, the Philippines is slated to register the highest CAGR during the forecast period. The EV adoption in this country is driven by the initiatives taken by the local government to encourage investments and the adoption of cleaner technologies.
The key players operating in the Asia-Pacific electric scooter market are Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Niu Technologies (China), Fuji-Ta Bicycle Co., Ltd. (China), Zhejiang Minimotors Bike Co., Ltd. (China), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd. (India), Revolt motors (India), Hero MotoCorp Ltd. (India), and Dongguan Tailing Electric Vehicle Co., Ltd. (China).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/asia-pacific-electric-scooter-market-5242
Scope of the Report
APAC Electric Scooter Market, by Vehicle Type
- Electric Motorcycle
- E-Scooters & Bikes
APAC Electric Scooter Market, by Power Output
- Less than 3.6 kW
- 3.6 kW to 7.2 kW
- 20 kW to 100 kW
APAC Electric Scooter Market, by Battery Technology
- Lithium-ion Battery
- Sealed Lead Acid Battery
- Lithium-ion Polymer Battery
APAC Electric Scooter Market, By Motor Type
- Hub Motor
- Gearless Hub Motor
- Geared Hub Motor
- Mid-Drive Motor
APAC Electric Scooter Market, by Charging Type
- Connector Charging
- Wireless Charging
APAC Electric Scooter Market, by End User
- Business Organizations
- Micro-Mobility Service Providers
- Individuals
- Academic Institutes/Universities
- Government Institutions
- Other End Users
APAC Electric Scooter Market, by Country
- China
- Japan
- South Korea
- New Zealand
- India
- Australia
- Malaysia
- Taiwan
- Philippines
- Thailand
- Singapore
- RoAPAC
Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5242
Related Reports:
Asia-Pacific Electric Vehicle Market by Vehicle Type (Passenger Vehicle, LCV, HCV, Two-wheeler, e-Scooters & Bikes); Propulsion Type (BEV, FCEV, HEV); Power Output (Less Than 100kW, 100 kW to 250 kW); End Use, Charging Standard, and Country - Forecasts to 2028
https://www.meticulousresearch.com/product/asia-pacific-electric-vehicle-market-5236
Asia-Pacific Electric Car Market by Propulsion Type (BEV, FCEV, PHEV, HEV), Power Output (Less Than 100kW, 100 kW to 250 kW), End Use (Private, Commercial), and Geography - Forecast to 2028
https://www.meticulousresearch.com/product/asia-pacific-electric-car-market-5215
Asia-Pacific EV Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country - Forecast to 2029
https://www.meticulousresearch.com/product/asia-pacific-ev-battery-market-5217
Asia-Pacific Electric Vehicle Charging Stations Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph, Connector, Wireless), Component, Mounting Type, Vehicle Type, End User, and Country - Forecast to 2029
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/463/asia-pacific-electric-scooter-market-2029
