Market Research Report
Electric Motorcycles & Scooters Market Size By Product, By Battery, By Voltage Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||945464|
|Published||Content info||200 Pages
Delivery time: 2-3 business days
|Electric Motorcycles & Scooters Market Size By Product, By Battery, By Voltage Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026|
|Published: June 15, 2020||Content info: 200 Pages||
Electric Motorcycles & Scooters Market Size By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion), By Voltage (24V, 36V, 48V) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026.
The electric motorcycles & scooters market is projected to witness exponential growth in coming years due to their low operational and maintenance costs, increasing battery ranges and decreasing battery prices. An electric motorcycle or scooter is driven by an electrical engine, instead of a conventional ICE engine, unlike most traditional motorcycles. These vehicles are powered by a rechargeable battery as well as electric motors.
The design of electric motorcycle and scooter utilized two or either three-wheel layouts and are specially used for long distance travel, cruising, and commuting. Today, there are numerous specialist electric motorcycle companies as well as various conventional motorcycle manufacturers who have innovated a wide range of new electric scooters or bikes which are yet to be launched.
There are numerous benefits associated with electric motorcycles and scooters, which makes it an ideal choice against other alternatives. An electric motor has instant torque and power, meaning rapid speed in comparison to fuel powered bikes. These electric motorcycles are also more comfortable in a lot of ways; they do not vibrate like gas bikes, which means the bike will not shake while riding or while at a stop.
Electric engines also eliminate a major point of contention when it comes to two wheelers in general; the instability that is created by the engine vibrations while driving at high speeds. Consequently, these motorcycles have become synonymous with comfortable ride quality in traffic or other urban situations.
Just like electric motorcycles, electric scooters too have benefits making it an ideal choice against others. These are considered to be eco-friendly since they tend to use only a small amount of electricity in comparison to its alternatives.
Electric scoters are also affordable and reliable, and they offer a better perception of control than their high-powered counterparts, making the rider feel safe as well as secure at the time of riding. This is increasing their popularity among first-time riders, creating a new revenue pocket for the industry.
The electric motorcycles & scooters market is segmented in terms of product, battery type, voltage, and regional landscape.
Based on product, the electric motorcycles & scooters market is classified into scooters and motorcycles. Among these, the electric scooters are likely to witness immense growth in coming years. The projected growth is being attributed to their growing demand, which is being fueled by their high adoption in urban mobility solutions. These have now become a symbol of present-day urban transport.
With respect to battery type, the electric motorcycles & scooters market is divided into Li-ion and SLA. Among these, the Li-ion battery segment is anticipated to witness a CAGR of over 4% over the forecast timeframe due to their short charging cycles.
In terms of voltage, the electric motorcycles & scooters market is bifurcated into 48V, 36V, and 24V. Among these, 48V voltage segment is expected to grow at a CAGR of over 5% owing to these vehicles' high performance capabilities.
From a regional frame of reference, Latin America electric motorcycles & scooters market will witness remunerative growth owing to increasing consumer awareness and the entry of several industry players in the region.