Dublin, Feb. 04, 2022 (GLOBE NEWSWIRE) — 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% throughout the forecast interval (2021 – 2026).
The COVID-19 pandemic had a unfavorable affect on the electrical scooters and bikes market. The worldwide lockdown restriction has resulted in a halt of manufacturing and gross sales of recent automobiles, together with electrical scooters and bikes.
Also, because of the disruption of the availability 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 trying ahead to the financial revival throughout the post-COVID-19 pandemic.
The electrical scooters and bikes market has observed important development, owing to the rising want for sustainable transportation. Increasing environmental considerations, coupled with favorable authorities initiatives, are among the main elements driving the market’s development. Rising power prices and competitors among the many rising energy-efficient 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 intiatives associated to e-mobility to additional enhance demand within the area throughout the forecast interval.
Key Market Trends
E-Scooter Segment Expected to Occupy Major Market Share
E-scooters witness greater gross sales than e-motorcycles, on account of much less upfront price and the supply of extra fashions available in the market, which give ample choices for the customer. 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 lots of of ‘hire by minute’ scooters.
To scale back car emission in cities, a number of pilot packages have been initiated to introduce e-scooters in a phased method. The recognition 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 section.
Such situations and developments anticipated to drive demand in e-scooter section of the market throughout 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 foremost economies within the regional market, that are anticipated to affect the general market. These nations are witnessing the entry of an growing variety of start-ups and well-established and standard producers available in the market.
India, one of many largest two-wheeler markets, is witnessing the entry of many new start-ups, that are marking their presence by launching new fashions and increasing present fashions and current infrastructure.
Several electrical bikes and scooter firms are launching the most recent merchandise and getting into right into a strategic partnership with international gamers within the area to draw extra clients and achieve market share.
With the aforementioned traits and developments, it’s anticipated that the market will develop at a wholesome charge throughout the forecast interval.
Competitive Landscape
The Electric scooters and bikes market is reasonably consolidated market and it has a variety of 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-vehicles.
Some of the foremost 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.
Companies Mentioned
- Zero Motorcycles Inc.
- Hero Electric Vehicles Pvt Ltd
- Vmoto Limited
- AIMA Technology Group Co. Ltd
- Dongguan Tailing Electric Vehicle Co. Ltd
- Piaggio & C. SpA
- Ather Energy Pvt. Ltd
- Energica Motor Company
- Honda Motor Co. Ltd
- Gogoro Inc.
- NIU International
For extra details about this report go to https://www.researchandmarkets.com/r/x2j5ar