The Electric Scooters and Motorcycles Market was valued at USD 5176. 16 million in 2020 and is predicted to succeed in USD 23178. 7 million in 2026 by registering a CAGR of 25. 08% in the course of the forecast interval (2021 – 2026).
New York, Dec. 01, 2021 (GLOBE NEWSWIRE) — Reportlinker.com publicizes the discharge of the report “Electric Scooter and Motorcycles Market – Growth, Trends, COVID-19 Impact, and Forecast (2021 – 2026)” – https://www.reportlinker.com/p06187425/?utm_source=GNW
The COVID-19 pandemic had a unfavourable affect on the electrical scooters and bikes market. The worldwide lockdown restriction has resulted in a halt of manufacturing and gross sales of latest automobiles, together with electrical scooters and bikes.
Also, because of the disruption of the provision chain, the uncooked supplies required for the manufacturing of various elements of the scooters and bikes have been unavailable, inflicting delays in manufacturing. However, with the rising inclination towards cleaner mobility internationally, the trade is wanting ahead to the financial revival in the course of the publish-COVID-19 pandemic.
The electrical scooters and bikes market has seen important progress, owing to the rising want for sustainable transportation. Increasing environmental considerations, coupled with favorable authorities initiatives, are a few of the main components driving the market’s progress. Rising power prices and competitors among the many rising power-environment friendly applied sciences are additionally anticipated to gasoline the market’s progress.
Asia-Pacific area anticipated to dominate the market owing to rising consciousness about environmental advantages, rising petrol and diesel costs throughout the area. Moreover, authorities intiatives associated to e-mobility to additional improve demand within the area in the course of the forecast interval.
Key Market Trends
E-Scooter Segment Expected to Occupy Major Market Share
E-scooters witness increased gross sales than e-bikes, because of much less upfront price and the provision of extra fashions available in the market, which offer ample choices for the client. The attract of the e-scooter, each as a toy and as a possible car for commuting, is driving its adoption. Thus, a number of startups are starting to flood main metropolitan areas with a whole lot of ‘rent by minute’ scooters.
To cut back car emission in cities, a number of pilot packages have been initiated to introduce e-scooters in a phased method. The reputation of e-scooters can also be encouraging standard two-wheeler producers to enter the market. For occasion, India is rising as a profitable marketplace for e-scooters. Hence, a number of Indian two-wheeler producers are gearing as much as launch their very own fashions within the phase. For occasion,
Hero MotoCorp Ltd., the world’s largest maker of bikes, will launch its first e-scooter by March 2022. Bajaj Auto Ltd plans to start out deliveries of its Chetak electrical scooter by Q2 of FY 2022 and will arrange a unit to make electrical and hybrid fashions. TVS Motor Co. sells only one electrical mannequin, named iQube, in New Delhi and Bangalore, and plans to develop to twenty extra Indian cities.
Also, in November 2021, Raft Motors, launched the Indus NX e-scooter that has a claimed vary of 480 km. The main 48V 135 Ah battery powers the scooter for 325 km whereas the moveable 48V 65Ah battery provides an prolonged vary of 156 km on a single cost.
Such cases and developments anticipated to drive demand in e-scooter phase of the market in the course of the forecast interval.
Asia-Pacific is Expected to Lead the Market During Forecast Period
Asia-Pacific is anticipated to guide the market over the forecast interval. China, India, and Japan are the key economies within the regional market, that are anticipated to affect the general market. These international locations are witnessing the entry of an rising variety of begin-ups and effectively-established and standard producers available in the market.
In 2020, Taiwan started offering a subsidy of as much as USD 900-1000 for the acquisition of latest electrical bikes/scooters. Owing to such plans previously, in December 2019, Gogoro, an area begin-up, offered a file of twenty-two,500 models. It additionally ended 2019 with a file of 145,000 gross sales in Taiwan.
India, one of many largest two-wheeler markets, is witnessing the entry of many new begin-ups, that are marking their presence by launching new fashions and increasing present fashions and current infrastructure. For occasion,
In 2020, BattRE Electric Mobility launched an IoT e-scooter, which has options resembling navigation help, experience statistics, distant diagnostics, anti-theft alarm, speedometer name alerts, and experience habits recommendations.
Several electrical bikes and scooter firms are launching the newest merchandise and getting into right into a strategic partnership with international gamers within the area to draw extra prospects and achieve market share. For occasion,
In June 2021, Lance Powersports Inc., an electrical two-wheeler producer, launched its newest lineup within the Philippines market. The firm launched Italia Classic, an e-scooter which, with six to eight hours of charging, will web about 50 to 60 kilometers of vary. The firm additionally launched Italia Naked, which is an e-motorbike with a variety of 60 to 70 kilometers.
With the aforementioned tendencies and developments, it’s anticipated that the market will develop at a wholesome price in the course of the forecast interval.
Competitive Landscape
The Electric scooters and bikes market is reasonably consolidated market and it has quite a few native gamers. The standard firms are increasing their presence on this new market, which was earlier dominated by startups. Conventional firms are getting into the market by introducing new crops and changing the prevailing scooters and bikes into e-automobiles. For occasion,
In April 2021, Singapore’s EuroSports applied sciences (EST) signed an MoU with Strides Transportation to develop, market, and provide good electrical bikes design.
In 2019, Yamaha finalized an settlement with Gogoro to commercialize its new line of scooters, which can be produced within the Gogoro plant. The two firms launched their first mannequin, Yamaha EC-5, with a expertise that permits customers to swap batteries for a fast recharge.
Some of the key gamers available in the market are Zhejiang Luyuan Electric Vehicle Co. Ltd, Dongguan Tailing Electric Vehicle Co. Ltd, Zhejiang Yadea Motorcycle Co. Ltd, NIU International, and Others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
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