Dublin, June 17, 2022 (GLOBE NEWSWIRE) -- The "North America 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 Geography - Forecasts to 2029" report has been added to ResearchAndMarkets.com's offering.
The North America Electric Scooter Market is expected to grow at a CAGR of 41.6% from 2022-2029 to reach $ 15.41 billion by 2029. By volume, this market is expected to grow at a CAGR of 28.0% from 2022-2029 to reach 3,182.6 thousand units by 2029.
The growth of this market is attributed to the emergence of electric scooter-sharing fleets, the growing concerns over greenhouse gases and carbon emissions, and the emerging need for micro-mobility alternatives for short distances. Furthermore, the availability of smart charging stations and the increasing usage of micro-mobility for logistics applications offer lucrative opportunities for the growth of this market.
Based on vehicle type, the electric motorcycles segment is expected to grow at the highest CAGR during the forecast period. The growth 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 rising gasoline prices, and the increasing number of stringent emission norms.
Based on power output, the 3.6 kW to 7.2 kW segment is expected to grow at the highest CAGR during the forecast period. This category of power output is used in electric mopeds. The growth of this segment is attributed to the cost-effectiveness of electric mopeds, zero tailpipe emissions, and the ability to run 60km on a single charge.
Based on battery technology, the lithium-ion polymer battery segment is expected to grow at the highest CAGR during the forecast period. Most electric bike manufacturers prefer the lithium-ion polymer battery and are widely equipped on e-bikes. Compared to other lithium batteries, the LiPo battery has a lower price yet maintains its performance.
LiPo batteries use solid, colloidal polymers or organic electrolytes. It is also beneficial for large capacity and fast charging while providing higher power in a short period, which enables e-bikes to obtain power support once started.
Based on motor type, the hub motor segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its high flexibility and the capability to operate in all-wheel-drive, providing higher stability. A hub motor includes a wheel with a motor inside.
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. Gearless hub motors have zero moving parts aside from their bearings, making them efficient in terms of wear and tear.
Based on charging type, the wireless charging segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the flexibility to charge the vehicle without physical contact, boosts the speed of charging, and confront range anxiety.
Based on end user, the business organizations segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the government initiatives for faster EV adoption, last-mile transportation, and reducing road congestion.
Based on country, Canada is expected to record the highest CAGR during the forecast period. The Canadian Government's regulation to reduce carbon emissions by 30% under the electric mobility movement is the major factor attributed to the high growth rate of the Canadian e-scooter market. Besides legislation, local ride-hailing companies, such as Bird Rides, Inc and Lime, offering electric scooters across the country, are expected to drive the electric scooters market.
Market Dynamics
Drivers
- Emergence of Electric Scooter-Sharing Fleets
- Growing Concerns of Greenhouse Gases and Carbon Emissions
- Emerging Need for Micro-mobility Options for Short Distances
Restraints
- Rising Number of Accidents and Ambiguous Regulations Related to Electric Kick Scooter
Opportunities
- Micro-mobility for Logistics Applications
Challenges
- High Costs of Procuring Electric Two-Wheelers
- Increasing Incidences of Theft and Vandalism of E-Bikes & E-Scooter
Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
- Yamaha Motor Co. Ltd. (Japan)
- Trek Bicycle Corporation (U.S.)
- Aventon Bikes (U.S.)
- Fuji-Ta Bicycle Co. Ltd. (China)
- Walberg Urban Electrics GmbH (Germany)
- Zhejiang Minimotors Bike Co. Ltd. (China)
- Magnum Bikes (U.S.)
- Pedego Electric Bikes (U.S.)
- Rad Power Bikes Inc. (U.S.) and Zero Motorcycles Inc. (U.S.).
Scope of the Report:
North American Electric Scooters Market, by Vehicle Type
- E-Scooters & Bikes
- Electric Motorcycle
North American Electric Scooters Market, by Power Output
- Less than 3.6 kW
- 3.6 kW to 7.2 kW
- 20 kW to 100 kW
North American Electric Scooters Market, by Battery Technology
- Lithium-ion Battery
- Sealed Lead Acid battery
- Lithium-ion Polymer battery
North American Electric Scooters Market, by Motor Type
- Hub Motor
- Gearless Hub Motor
- Geared Hub Motor
- Mid-Drive Motor
North American Electric Scooters Market, by Charging Type
- Connector Charging
- Wireless Charging
North America Electric Scooters Market, by End User
- Business Organizations
- Micro-Mobility Service Providers
- Individuals
- Academic Institutes/Universities
- Government Institutions
- Other End Users
For more information about this report visit https://www.researchandmarkets.com/r/mivgjo
