Asia Pacific electric motorcycles & scooters market is expected to register a CAGR of 3.5% through 2027, due to the growing environmental concerns in the region. Rapidly growing levels of carbon emissions is creating an immense need for eco-friendly transportation solutions across countries like China and India.
The APAC is also home to the world’s largest two-wheeler market with India, Vietnam, and China leading the charge. Considering its potential, several market players are actively looking to consolidate their presence in the regional market. In fact, emerging manufacturers like Ultraviolette Automotive and Emflux are foraying into India, which is likely to majorly impact the regional market outlook through the projected timeframe .
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Meanwhile, in other regional markets that do not have as flourishing of a two-wheeler industry as APAC, major industry players are implementing different strategies such as collaborations and acquisitions to bring in revenues from the market. Taking January 2020 for instance, renowned electric scooter company, Bird, reportedly announced the acquisition of its rival Circ for an undisclosed amount. The acquisition would allow Bird to stake a bigger claim of the Europe micromobility market.
The global electric motorcycles & scooters market is slated to observe immense growth due to the rising number of industry players in the sector and increasing consumer inclination towards battery-powered electric vehicles. Emerging companies like Gogoro, Pedego Electric Bikes, and Segway are making partnership deals with scooter-sharing firms to expand their presence and establish a strong foothold in the market.
In addition, the launch of new products with greater style and comfort is attracting a higher consumer attention towards the sector. Taking January 2020 for instance, a leading automotive giant in one of the world’s top two-wheelers market, Bajaj, launched its new electric scooter, Chetak, in India at a starting price of $1332.25. As with other India-focused vehicles, the scooter boasts of range of up to 60 miles on full charge. Considering the constantly rising fossil fuel prices in the region, the new scooter is expected to record major growth as consumers shift to electric means of transportation in the country.
In terms of the voltage, 24V batteries are projected to observe a tremendous demand from the electric scooters sector over the coming years. These batteries offer shorter distance ranges that are optimum for day-to-day commutes travel across populated urban cities.
The product has a fewer number of cells, which reduces its weight and cost significantly, effectively increasing their adoption in daily commuter vehicle models. In addition, the ongoing expansion of electric scooter sharing services for commute in urban areas would propel the demand for 24V batteries over the coming years.
With an aim to tackle the environmental concerns arising due to pollution, a number of global government organizations are actively promoting the use of electric vehicles, including motorcycles and scooters.
Several governments have rolled out favorable regulations and have started providing consumers substantial subsidies, incentives, and grants to promote the purchase of new electric scooters and motorcycles, which is likely to significantly help augment the overall market share.
The competitive landscape of the global electric motorcycles and scooters market is inclusive of players such as Z Electric Vehicle, Zero Motorcycles, Govecs Group, KTM, Energica Motor Company, Lightning Motorcycles, Mahindra GenZe, Shandong Incalcu Electric Vehicle, Amper Vehicles, and Harley Davidson among others.
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Partial Chapter of the Table of Content
Chapter 4 Electric Motorcycles & Scooters Market Competitive Landscape,
4.2 Company market share analysis, 2020
4.3 Electric Motorcycles & Scooters Market Competitive analysis of key market players
4.3.1 Energica Motor Company S p A
4.3.2 Hero Electric
4.3.3 Niu Technologies
4.3.5 Vmoto Limited
4.3.6 Yadea Technology Group Co Ltd
4.3.7 Zero Electric Motorcycles
Chapter 5 Electric Motorcycles & Scooters Market, By Product
5.1 Key trends by products
5.2 Electric Motorcycles
5.2.1 market estimates and forecast, 2017 – 2027
5.3 Electric Scooters
5.3.1 market estimates and forecast, 2017 – 2027
Chapter 6 Electric Motorcycles & Scooters Market, By Battery
6.1 Key trends by battery
6.2.1 market estimates and forecast, 2017 – 2027
6.3.1 market estimates and forecast, 2017 – 2027
Chapter 7 Electric Motorcycles & Scooters Market, By Voltage
7.1 Key trends by voltage
7.2.1 market estimates and forecast, 2017 – 2027
7.3.1 Electric Motorcycles & Scooters Market estimates and forecast, 2017 – 2027
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