The Global Electric Motorcycles and Scooters Market- Trends, COVID-19 impact and Forecast (2021-2025)
Global electric motorcycle and scooters market is segmented based on battery type as sealed lead acid and Lithium-ion; based on Product as scooters and motorcycles; based on Voltage Type as below 12V, 24V, 36V, and 48V.; based on geography as APAC, Europe, North America, and ROW.
Introduction
Electric motorcycle or scooter is a two-wheeled vehicle powered by an electric motor, where electric power is stored in the form of a rechargeable battery. This battery drives and powers one or more electric motors in the two-wheeler vehicle.
Increasing demand for alternative fuel vehicles and rising demand for efficient, long-range (mileage), and less noisy vehicles are key factors that are projected to boost the electric two wheeler motor powered vehicle market in the near future.
Electric vehicles are transforming the automobile industry, and have caused visible disruptions in the way people perceive public and private transport. Mobility has become an important component of the smart city framework of cities, and this trend shall pave way for the popularity of electric motorcycles and scooters
Covid-19 have led to the temporary closing of manufacturing plants and other businesses, manufacturing companies have faced tremendous delays in production
Table of Contents
Market Overview
The global lubricants market is expected to grow to $ 180.70 billion by 2025
Growth momentum is expected to accelerate at a slower pace during the forecast period with a 2.92% CAGR.
Post COVID-19, the market is expected to recover from 2021 onwards, with industrial and transportation activities getting back on track and functioning with full capacities.
Factors such as growth in industrialization, an increasing number of vehicles, and process automation in industries are fuelling the lubricant's demand.
Key Trends
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.
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.
Key Market Players
The market is dominated by global vendors like Yadea Group, Bayerische Motoren Werke, Terra Motors Hero Electric, Energica Motor Company , Zero Motorcycles.
Growth Drivers and Challenges
The electric two wheeler market is anticipated to expand at a noteworthy growth rate during the forecast period owing to the multiple benefits offered by these vehicles, such as high efficiency, low or no emission, noiseless operation, low fuel (charging) cost, and less maintenance.
Growing traffic congestion has led several population groups to prefer two-wheelers over private cars for their daily commute. This factor, coupled with the stellar pace of manufacturing electric scooters, shall benefit market vendors.
The need to reduce air pollution and carbon emissions has led governments and other industries to take multiple measures and initiatives at administrative and industrial levels.
The electric two-wheelers are more energy-efficient than conventional two-wheelers, they are still not up to the mark in terms of design and performance standards. One of the biggest challenges for this market is the lack of consumer attention because of unappealing design and average performance.
The e-scooters/mopeds have range and performance constraints; also, they serve the limited purpose of short distance commuting only.