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

Published Date: Jun 2020  |  Report ID: GMI218  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 200   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Electric Motorcycles & Scooters Market size valued at USD 30 billion in 2019 and is estimated to grow at a CAGR of over 4% between 2020 and 2026. The rapidly growing concerns related to vehicular emissions and increasing consumer awareness about air pollution will fuel the market growth. Furthermore, increasing investments by government authorities in the development of EV charging infrastructure is expected to increase the market penetration.
 

Technological advancements in the field of motors and battery management systems will support the electric motorcycles & scooters market size expansion. The development of Interior Permanent Magnet (IPM) motors that provide optimized power and efficiency to enhance the performance of electric motorcycles & scooters will fuel the market growth. The ability of IPM motors to full torque for instantaneous throttle response is contributing to their rapid adoption in electric two-wheelers. Moreover, the compact size and reduced weight of these motors deliver enhanced power and acceleration to electric motorcycles & scooters.
 

Electric Motorcycles & Scooters Market

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The high initial cost of electric motorcycles & scooters is one of the major factors hampering the electric motorcycles & scooters market growth. High performance in electric two-wheelers is achieved through high-capacity batteries. The high cost of these batteries adds up to the overall cost of these electric two-wheelers.  Additionally, high-quality materials used in manufacturing electric motorcycles & scooters to reduce weight and provide aesthetics increase the initial purchasing cost. However, ongoing R&D activities by market leaders are significantly assisting in reducing the cost of batteries and other components.
 

The electric motorcycles & scooters market will witness a temporary slowdown in 2020. The sluggish growth can be attributed to global economic slowdown and decreasing purchasing power of consumers across the globe. Due to the spread of COVID-19, consumers are highly inclined toward purchasing essential goods such as groceries and healthcare products. There are significant disruptions in automobile production owing to labor shortage and disruptions in supply chain.
 

Electric Motorcycles & Scooters Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 30 Billion (2019)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4% 2026 Value Projection: USD 40 Billion (2026)
Pages: 200 Tables, Charts & Figures: 457
Geographies covered (26): U.S., Canada, Austria, Belgium, Czech Republic, France, Germany, Italy, Netherlands, Poland, Spain, UK, China, Japan, India, South Korea, Indonesia, Taiwan, Thailand, Malaysia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Product, Battery, Voltage
Companies covered (18): AIMA, Amper Vehicles, BMW, CAKE, Energica Motor Company S.p.A, Govecs Group, Harley Davidson, Hero Eco, KTM, Lightning Motorcycles, Mahindra GenZe, Shandong Incalcu Electric Vehicle Co. Ltd, Sunra, Tailing Electric Vehicle Co. Ltd., Terra Motors Corp, Vmoto Limited, Z Electric Vehicle, Zero Motorcycle
Growth Drivers:
  • Increasing government subsidies and support to promote electric mobility across the globe
  • Strict emission regulations in North America
  • Presence of several electric vehicle manufacturers in Europe and North America
  • Rising pollution levels due to harmful vehicular emissions Asia Pacific
  • Increasing awareness related to alternative fuels in LATAM & MEA
Pitfalls & Challenges:
  • High initial cost of electric motorcycles & scooters
  • Lack of charging infrastructure

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Increasing demand for high performance and long-range electric motorcycles

The electric motorcycles held over 30% of the market share in 2019 and is anticipated to reach a revenue of around USD 12 billion by 2026. This growth can be attributed to shifting consumer preferences toward electric motorcycles due to rise in harmful carbon emissions. Electric motorcycles aid in a significant reduction of CO2 emission, carbon footprints, and noise pollution, thereby gaining popularity over Internal Combustion Engine (ICE) powered motorcycles.
 

Companies in the industry are focusing on developing electric motorcycles with maximum torque and high power to cater to the growing market trend of high speed and long range. For instance, in October 2018, Tarform, Inc. launched two new models of on road electric motorcycles in the market. The Café and Scrambler models feature 7 kilowatt-hour Lithium-ION batteries and a 43-horsepower engine for enhanced performance with a range of up to 200 miles on city roads.
 

Growing adoption of lithium ion batteries owing to less charging time

Electric Motorcycle & Scooter Market By Battery Type

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The Li-ion battery segment in the electric motorcycles & scooters market is predicted to register growth of more than 4% through 2026 impelled by several benefits such as short charging cycles, high capacity, and large mean time between replacements. Additionally, Li-ion batteries significantly reduce the operating and maintenance costs in electric motorcycles & scooters as they are easy to replace and offer convenient charging options.
 

Several industry players are integrating technologically advanced Li-ion batteries into their electric motorcycles & scooters to leverage the battery capabilities. For instance, in December 2019, Zero Motorcycles launched its Zero SR/F electric scooter integrated with its lithium-ion battery, allowing the scooter to travel about 200,000 miles while retaining 80% battery’s original maximum capacity.
 

Rising demand for high power and enhanced performance in electric motorcycles & scooters

The 48V segment accounted for 40% electric motorcycles & scooters market share in 2019 due to increasing adoption in electric motorcycles for high power output. Increasing utilization of electric motorcycles & scooters for day-to-day commute in populated cities creates a demand for high power and enhanced efficiency. The ability of 48V batteries to produce desirable power output to compete with conventional ICE two-wheelers will drive the market demand.
 

Proliferation of scooter sharing services in North America

North America Electric Motorcycle & Scooter Market By Region

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The North America electric motorcycles & scooters market valuation was over USD 1 billion in 2019 and is poised to exceed USD 2.5 billion by 2026 led by increasing consumer disposable income and high spending capability. The region is an early adopter of technologically advanced smart mobility solutions. The emergence of new players, such as Zero Motorcycles and Hadin, in the electric motorcycle segment is supporting the market growth in the region.
 

Scooter sharing service providers are investing huge sums of money and adding new models of electric scooters to their portfolio to cater to the high market demand. For instance, in May 2020, Uber announced its plans to invest USD 170 million in scooter sharing service ‘Lime’ in San Francisco. The company will integrate its mobile app with Lime’s services to promote the use of scooter sharing services in the U.S.
 

Partnerships and expansion of distribution channel are the major strategies adopted by market leaders

The electric motorcycles & scooters market players are laying emphasis on expanding their distribution channel and geographic presence to cater to a wide customer base. For instance, in August 2019, Energica Motor Company S.p.A announced a new dealership agreement with Oliver Mader GmbH to expand its business operations in Germany.
 

Furthermore, market players are also focusing on establishing partnerships with other industry players to leverage mutual competencies in the electric motorcycles & scooters sector. For instance, in May 2020, Polestar announced its partnerships with CAKE 0 Emission AB to reach new customers. The partnership will enable CAKE to distribute its electric motorcycle models through Polestar’s retail outlets in Europe, spurring its growth in the industry.
 

Key players operating in the electric motorcycles & scooters market include Alta Motors, Amper Vehicles, BMW, Harley Davidson, Energica Motor Company S.p.A, Govecs Group, Hero Eco, Honda Motors, Mahindra GenZe, KTM, Zero Motorcycles, Lightning Motorcycles, Shandong Incalcu Electric Vehicle Co. Ltd, Suzuki Motors Corporation, Z Electric Vehicle, and CAKE 0 Emission AB.
 

The electric motorcycles & scooters market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2020 to 2026 for the following segments:
 

Market by Product

  • Motorcycles
  • Scooters

Market by Battery

  • Li-ion
  • SLA

Market by Voltage

  • 24V
  • 36V
  • 48V
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Poland
    • Netherlands
    • Belgium
    • Czech Republic
    • Austria
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
       

Frequently Asked Questions (FAQ) :

The North America market valuation was over USD 1 billion in 2019 and is poised to exceed USD 2.5 billion by 2026, led by increasing consumer disposable income and high spending capability.
According to the analysts at GMI, the electric motorcycles held over 30% of the market share in 2019 and is anticipated to reach a revenue of around USD 12 billion by 2026.
Key industry players include Alta Motors, Amper Vehicles, BMW, Harley Davidson, Energica Motor Company S.p.A, Govecs Group, Hero Eco, Honda Motors, Mahindra GenZe, KTM, Zero Motorcycles, Lightning Motorcycles, Shandong Incalcu Electric Vehicle Co. Ltd, Suzuki Motors Corporation, Z Electric Vehicle, and CAKE 0 Emission AB.
The Li-ion batteries provide several benefits such as short charging cycles, high capacity, and large mean time between replacements, which boosts their adoption in the industry.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 200
  • Tables: 430
  • Charts / Figures: 27
  • Companies covered: 18
  • Countries covered: 26

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