Electric Motorcycles & Scooters Market Size By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion, NiMH), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, China, India, Japan, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

Industry Trends

Electric Motorcycles & Scooters Market size was valued at over USD 25 billion in 2015 and will grow at more than 10% CAGR estimation from 2016 to 2024. Global shipments are projected to surpass 60 million units by 2024.
 

France Electric Motorcycles & Scooters Market, By Product, 2015 (USD Million)

 

Favorable regulatory climate for pollution control and environment conservation will drive the electric motorcycles & scooters market share from 2016 to 2024. There exist stringent norms across the globe supporting clean energy to improve air quality and overcome dependence on crude oil, thereby reducing green-house gas emissions. Incentives and subsidies are provided to OEMs and customers in order to lower barriers in electric vehicle deployment. Rising adoption of these vehicles owing to benefits such as emission free mobility along with less maintenance as compared to gasoline vehicles will also boost the industry demand.
 

Lack of infrastructure for battery charging along with deprived performance of EVs is expected to be a major barrier for the electric motorcycles & scooters industry size. High costs associated with these batteries along with performance restrictions and travelling range pose potential challenge for the suppliers.
 

Many manufacturers are adopting a combination of direct and indirect distribution channel in order to attract more customers and make distribution simpler. The OEMs are facing challenges of establishing strong distribution network and product customization as the industry is highly competitive, particularly in Asia Pacific. Thus, manufacturers are focusing towards building direct distribution channels through building various B2B customers and adopting e-commerce channels for electric motorcycles & scooter market sales.
 

Electric Motorcycles & Scooters Market, By Product

Electric motorcycles market is still in the introduction phase and with varied unit costs depending upon the performance, manufacturers are trying to target consumers with different power requirements. The segment is expected to witness significant gains from 2016 to 2024. The license requirements for these vehicles depend upon the its classification category in-line with conventional motorbikes.
 

High initial costs will inhibit adoption when compared to the electric scooters market. Companies are investing heavily in R&D to lower the costs and increase the vehicle performance. For instance, in 2015, Zero Electric Motor Cycles and Brammo Electric Motor Cycles upgraded their product portfolio while cutting down the prices on all e-motorcycles models.
 

Electric Motorcycles & Scooters Industry, By Battery

Lithium-ion battery-equipped electric motorcycles & scooters market share is expected to grow with the highest CAGR from 2016 to 2024. These batteries are preferred in due to low weight compared to lead acid alternatives. They are also about 100% efficient in both discharging and charging. While the upfront costs are higher, growing EV market adoption on a global scale is forecast to make prices competitive, further fueling consumption.
 

The reliability of electric two-wheelers lags far behind in terms of performance as compared to conventional products. The vehicle performance is driven by battery-capacity, charging time, and the power output. Currently, the market faces challenges of slow acceleration and low torque.
 

Electric Motorcycles & Scooters Market, By Region

China market is the largest regional segment, leading to a dominant APAC landscape. Significant pollution levels and changing consumer preferences will lead to regional industry leadership in the coming years.
 

The U.S. electric motorcycles & scooters market has witnessed regulatory support for product adoption, including R&D investments and competitive programs for encouraging vendors to invest in infrastructure. In May 2014, eight states unveiled the action plan of putting 3.3 million zero emission vehicles on road by 2025. In November 2016, the Obama Administration announced establishment of 48 national EV corridors charging networks in 35 states at a distance of 25,000 miles on highways.
 

Competitive Market Share

Global demand is considerably dependent on electric motorcycle & scooter market price trend. The ecosystem consists of numerous Chinese E suppliers such as AIMA Hi-tech, Sunra (Jiangsu Xinri E-Vehicle Co.), Feishen, Zhejiang Ripu Electronic Science and Technology, Qingdao AUCMA, Shanghai Lima Electric Vehicle Manufacturing Co.
 

Increasing awareness regarding the market has also led to increased focus of automotive OEMs towards hybrid technologies. For instance, Harley Davidson launched their electric bike, LiveWire in June 2014. As the company is known for its big touring bikes, it is focusing on EVs to be launched in the U.S. by 2021. In 2016, Yamaha launched two EVs, Passion E-Street and Passion E-Dirt, providing 62 mph highway speeds.
 

Electric Motorcycles & Scooters Industry Background

Electric motorcycles & scooters market includes electricity powered two-wheelers which are fitted with rechargeable batteries. The battery powers one or more motors which is attached to the rear wheels. The motors used to drive the vehicles are usually DC permanent magnet motors which provides higher torque. These products provide higher speed and longer range compared to gasoline powered bikes. With development in battery used in the motors, the charging time of the battery can be reduced and its run time can be increased.
 

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