Electric Motorcylces & Scooters Market - Forecasts from 2019 to 2024

The global electric motorcycles & scooters market is evaluated at US$11.798 billion in 2018 and is anticipated to grow at a CAGR of 6.07% to reach US$16.807 billion in 2024. The ability of these vehicles to offer considerable environmental benefits as opposed to gasoline-powered vehicles will be instrumental in the growth of this market. Low maintenance requirement, Initiatives by the government to spread awareness about the benefits of electric vehicles, superior quality and reliability will boost the growth of Electric Motorcycles & Scooter Market. Sealed lead acid, Lithium-ion, Nickel-metal hydride are the three basic categories of batteries prevalent in the market. Lithium-ion equipped Electric motorcycles & Scooters Market is expected to grow at the highest rate during the forecast period on account of low weight and greater efficiency while charging and discharging. However, factors like limited power output and range along with a lack of charging infrastructure are further expected to restrain the market growth during the forecast period. Furthermore, China, being the largest exporter and manufacturer of E-vehicles, is expected to perform strikingly well on account of rapid urbanization, government support, industry shifts, and rising private demand.

Drivers

Lower maintenance and operating costs
Government initiatives

Restraints

Lack of charging infrastructure facilities
Limited power output and range

INDUSTRY UPDATE
In July 2019, Harley-Davidson announced the launch of its latest electric bike, LiveWire, the first-ever electric cruiser bike which is expected to go on sale throughout North America and Western Europe by the beginning of 2020.

In July 2019, Revolt Motors announced the launch of India’s first AI-powered electric bike, Revolt RV 400.

Major industry players profiled as part of the report are Yamaha Motor Co., Ltd., Polaris Industries, Inc., KTM Sportmotorcycle GmbH, Harley-Davidson, and Revolt Motors among others.

Segmentation

The global electric motorcycles & scooters market has been analyzed through the following segments:

By Application

Personal Use
Commercial Use

By Product

E-Motorcycle
E-Bicycle
E-Scooter

By Battery

Sealed-ion lead acid
Lithium-ion
Nickel metal hydride

By Geography

North America
USA
Canada
Mexico

South America
Brazil
Argentina

Europe
Germany
France
United Kingdom
Others

Middle East and Africa
Saudi Arabia
UAE
Others

Asia Pacific
China
Japan
South Korea
India
Others