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Low-powered Electric Motorcycle and Scooter Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 398 | Report ID: MRS1025


Report Description

The global Low-powered Electric Motorcycle and Scooter market size is valued at USD 3,006.8 million in 2020, expanding at a CAGR 9.9% from 2021-2027 to reach 5,100.1 million USD by 2027.

Market Dynamics

Low-Power Scooter is a self-propelled vehicle designed primarily for use on the roadways with not more than three wheels in contact with the ground or no manual clutch.

The declining cost of Li-ion batteries is one of the key contributors to the growth of the low-powered electric motorcycle and scooter market during the forecast period. The cost of Li-ion batteries has been declining over the years owing to the increasing popularity of electric-powered passenger cars and buses. Manufacturers are increasingly preferring efficient and economic Li-ion batteries to enhance vehicle production efficiency. The adoption of low-cost or economic Li-ion batteries aids in the minimization of the overall production cost incurred in manufacturing low-powered electric motorcycles and scooters.

In addition, the low operating and maintenance costs are one of the most important factors for the growth of the market to the great extent. This is attributable to the increasing prices of petroleum products. Electrical two-wheelers operating on electricity will definitely reduce the operating cost of these vehicles. These two-wheelers are more efficient than conventional ones. Manufacturers are expected to develop electric scooters and motorcycles that have a higher range than the current breed of electric two-wheelers. As there are lesser moving parts than conventional two-wheelers, maintenance will also not be a concern. The highest maintenance cost would be the cost of changing the battery, which, however, is not frequent.

Based on battery type, the Lithium-ion battery segment is expected to be the fastest-growing segment during the forecast period. Manufacturers are attempting to develop electric scooters and motorcycles equipped with advanced lithium-ion batteries. The limited lifecycle and usable capacity are likely to shift the focus from lead-acid batteries to lithium-ion batteries and drive the electric scooter and motorcycle market during the forecast period. Another advantage of a lithium-ion battery is lightweight, which helps maintain the energy to weight ratio of the vehicle. Its electrodes are made of lithium and carbon. It can store more energy per kilogram of weight compared to a lead-acid battery. Also, lithium-ion batteries' cost is high, but it has come down significantly in the last few years and is expected to reduce further

Regionally, APAC anticipated a significant market share during the forecast period. This is attributed to the stringent government regulation as well as growing pollution concerns across the region. Large sales production and sales volumes in China, growing demand for affordable electric scooters for short-distance commuting, and governments promoting electric two-wheelers are expected to drive the Asia Pacific market during the forecast period. China has spent approximately USD 2.4 billion till 2020 to improve the charging facility infrastructure in the country. The Indian government is taking initiatives such as FAME-II, offering subsidies and tax exemptions to buyers to promote electric two-wheelers in the country.

The merger & acquisitions and product launches play an important role in the company's expansion and remain competitive in the market. Some of the prominent players are Electrotherm Ltd., Greaves Cotton Ltd., Hero Electric Vehicles Pvt. Ltd., Mahindra & Mahindra Ltd., and Niu Technologies. Recently, In August 2020, Okinawa Autotech launched its new electric scooter, R30. The scooter belongs to the low-speed range, having a maximum speed of 25 km/h. Moreover, In May 2019, Vmoto announced that the company had signed an agreement with Italian motorcycle manufacturer Ducati Motor through its subsidiary, Vmoto International Limited, to launch two-wheeler electric vehicles CUX (special Ducati edition) under the license.

The report begins with an overview of the Industry Chain structure and describes the industry environment, and then analysis market size and forecast of the Low-powered Electric Motorcycle and Scooter Market by vehicle type, battery type, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Electrotherm Ltd.
  • Greaves Cotton Ltd.
  • Hero Electric Vehicles Pvt. Ltd.
  • Mahindra & Mahindra Ltd.
  • Niu Technologies
  • SONGUO MOTORS Co. Ltd.
  • TACITA Srl
  • Z Electric Vehicle Corp.
  • Zero Motorcycles Inc.
  • Zhejiang Luyuan Electric Vehicle Co. Ltd.

Vehicle Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • E-Motorcycle
  • E-Scooter/Moped

Battery Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Lithium-ion
  • Sealed lead acid

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global Low-powered Electric Motorcycle and Scooter market size is estimated at USD 3,006.8 million in 2020, expanding at a CAGR 9.9% from 2021-2027 to reach 5,100.1 million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising growth rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The worldwide market is characterized by the presence of large number of small scale and medium scale players.

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