Global Electric Scooter and Motorcycle Market
The Global Electric Scooter and Motorcycle Market Size was estimated to reach USD 1,140 thousand units in 2021 and is projected to grow at a CAGR of 32.5% during the forecast period, according to a detailed market study by Quince Market Insights. The electric motorcycle and scooters are also termed plug-in electric vehicles and have three or two wheels. The electricity used by these vehicles is stored in lithium or lead-type rechargeable batteries.To get more news about electric motorcycle for sale, you can visit davincimotor.com official website.
The key factors propelling the development of market size are innovative battery technologies, improving performance and design specifications, and enhancing charging infrastructure. In addition, it also requires minimal maintenance as compared to internal combustion engine scooter and motorcycle, and growing demand for effective commuting options, which are boosting the growth of the market.
Surging demand for long-range electric motorcycles and high-performance is anticipated to propel the market size. The inclination in consumer preference towards electric motorcycles on account of an upsurge in harmful carbon emissions will result in increasing demand of electric motorcycle in the future. Electric motorcycles support significantly low CO2 emissions, noise pollution, and carbon footprints, thus there is an increasing acceptance for internal combustion engine (ICE) power-driven motorcycles used in electric motorcycles.
Several countries have increasing pollution due to fuel-based vehicles. Hence, many countries are implementing policies and regulations in favor of electric two-wheelers are anticipated to drive the growth of the electric motorcycle scooter market.
Technological progressions in the field of battery and motors management systems will drive the development of electric motorcycles and scooter market. For instance, the growth of interior permanent magnet (IPM) engines that offer efficiency and optimized power to improve the performance of electric motorcycles and scooters. These engines reduce size and weight, offer acceleration, and improve power for electric scooters and motorcycles.
Features such as low maintenance and operating costs are anticipated to propel the growth of the electric motorcycle scooter market. Customers in developing nations are already affected by the expensive petrol prices.
Electrical two-wheelers working will decrease the operating prices of vehicles. Producers are anticipated to manufacture electric scooters and motorcycles with a higher variety than the current generation of electric two-wheelers. Though, the absence of charging infrastructure might hamper the market development. A widespread and extensive charging infrastructure network is desirable for users.Based on vehicle type, the market is segmented into motorcycles and scooters. The electric motorcycles market is expected to be the fastest-growing segment in 2021 and is anticipated to remain fastest-growing segment during the forecast period.
The factors attributed to the growth of the segment include increasing customer consciousness regarding air pollution and high demand for low noise transport solutions.Based on battery, the market is segmented into lithium-ion, and sealed lead-acid (SLA). The lithium-ion segment is expected to register the highest CAGR during the forecast period. This is due to the increasing preference for eco-friendly LI-ion batteries by original equipment manufacturers (OEMs).