DUBLIN, January 28, 2022–(BUSINESS WIRE)–The “Electric Scooter and Motorcycles Market – Growth, Trends, COVID-19 Impact, and Forecast (2022 – 2027)” report has been added to ResearchAndMarkets.com’s providing.
The Electric Scooters and Motorcycles Market was valued at USD 5176.16 million in 2020 and is predicted to achieve USD 23178.7 million in 2026 by registering a CAGR of 25.08% through the forecast interval (2021 – 2026).
The COVID-19 pandemic had a detrimental affect on the electrical scooters and bikes market. The worldwide lockdown restriction has resulted in a halt of manufacturing and gross sales of new autos, together with electrical scooters and bikes.
Also, as a result of disruption of the availability chain, the uncooked supplies required for the manufacturing of totally different components of the scooters and bikes have been unavailable, inflicting delays in manufacturing. However, with the rising inclination towards cleaner mobility internationally, the trade is trying ahead to the financial revival through the put up-COVID-19 pandemic.
The electrical scooters and bikes market has observed vital development, owing to the rising want for sustainable transportation. Increasing environmental considerations, coupled with favorable authorities initiatives, are some of the main components driving the market’s development. Rising power prices and competitors among the many rising power-environment friendly applied sciences are additionally anticipated to gas the market’s development.
Asia-Pacific area anticipated to dominate the market owing to rising consciousness about environmental advantages, growing petrol and diesel costs throughout the area. Moreover, authorities initiatives associated to e-mobility to additional enhance demand within the area through the forecast interval.
Key Market Trends
E-Scooter Segment Expected to Occupy Major Market Share
E-scooters witness larger gross sales than e-bikes, on account of much less upfront value and the supply of extra fashions out there, which offer ample choices for the client. The attract of the e-scooter, each as a toy and as a potential automobile for commuting, is driving its adoption. Thus, a number of startups are starting to flood main metropolitan areas with a whole bunch of ‘lease by minute’ scooters.
To scale back automobile emission in cities, a number of pilot applications have been initiated to introduce e-scooters in a phased method. The reputation of e-scooters can 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.
Such cases and developments anticipated to drive demand in e-scooter phase of the market through 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 main economies within the regional market, that are anticipated to affect the general market. These international locations are witnessing the entry of an growing quantity of begin-ups and properly-established and standard producers out there.
India, one of the biggest 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 present infrastructure.
Several electrical bikes and scooter corporations are launching the most recent merchandise and coming into into a strategic partnership with international gamers within the area to draw extra clients and achieve market share.
With the aforementioned developments and developments, it’s anticipated that the market will develop at a wholesome fee through the forecast interval.
Competitive Landscape
The Electric scooters and bikes market is reasonably consolidated market and it has a quantity of native gamers. The standard corporations are increasing their presence on this new market, which was earlier dominated by startups. Conventional corporations are coming into the market by introducing new crops and changing the prevailing scooters and bikes into e-autos.
Some of the main gamers out there are Zhejiang Luyuan Electric Vehicle Co. Ltd, Dongguan Tailing Electric Vehicle Co. Ltd, Zhejiang Yadea Motorcycle Co. Ltd, NIU International, and Others.
Companies Mentioned
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Zero Motorcycles Inc.
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Hero Electric Vehicles Pvt Ltd
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Vmoto Limited
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AIMA Technology Group Co. Ltd
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Dongguan Tailing Electric Vehicle Co. Ltd
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Piaggio & C. SpA
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Ather Energy Pvt. Ltd
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Energica Motor Company
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Honda Motor Co. Ltd
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Gogoro Inc.
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NIU International
For extra details about this report go to https://www.researchandmarkets.com/r/vh6rek
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