Electric Motorcycles And Scooters Market Growth, Trends and Forecasts to 2024

The global electric motorcycles and scooters are also known as electric power two wheelers, E-bike, E-motorcycle, E-scooters or e-PWT market is predicted to have continuous growth shortly.

The global electric motorcycles and scooters are also known as electric power two wheelers, E-bike, E-motorcycle, E-scooters or e-PWT market is predicted to have continuous growth shortly. However, the market growth was steady over the past decade. With increasing fuel price, global warming and emission standards in every major market, e-PWT is providing an alternative solution to vehicle manufacturers, gradually competing with traditional motorcycles and electric cars.

Electric motorcycles and scooters are a plug-in electric vehicle, powered by electricity which stores in rechargeable batteries. Today electric motorcycles and scooters are mostly powered by lithium-ion rechargeable batteries. Nanotechnology used in these lithium ion batteries has provided great potential for the growth of E-bike. Manufacturing companies are working on improving the battery life in conjunction with reducing the production cost, better performance, and high speed.

One of the major factors, that various countries like China, U.S. are promoting electric motorcycle and scooters. This is because E-bikes eco-friendly and leaves no carbon footprint as it doesn’t run on fuel and pollute the environment. e-PWT are low maintenance, easy manufacturing, lightweight and compact utility vehicles. Emerging countries such as Russia, India and Brazil see e-PWT as a promising alternative to the conventional mode of transport in the future.

Even with all the beneficial factors electric power, two-wheeler has a slower growth because of its high pricing compared to regular motorcycles. It has short battery life around 15 to 25 miles par charge; it needs to b recharged after a shorter range. E-bike has less resale value. The battery is replicable but has a short life in comparison to a conventional motorcycle.

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Different types of E-bikes commercially available are electric wheelchairs, electric mobility scooters, electric motorcycles, electric bicycles, electric kick scooters, electric tricycles, electric go-kart, self-balancing electric, scooters (hoverboards).

The global e-PWT market is segmented according to the power of the battery – high & low and according to the type of battery used. Lithium-ion (Li-Ion), nickel metal hydride (NiMH) and sealed –ion lead acid (SLA) are the major types available in the commercial market.

Target customers for the e-PWT are the mature customer that is people in or above 40. Grey market is interested in e-PWT as it requires less effort. In China, researchers have found that 38 % of consumers had replaced their cars with E-bike for traveling the short distance.

China is the market leader in electric motorcycles and scooters by volume. The majority of the E-bikes sellers are in China. However due to its low GDP growth, the manufacturing has reduced which is affecting the demand. Major manufacturers are moving their production facilities to neighboring lucrative markets. Due to this Asia Pacific is expected to witness a potential growth in e-motorcycle and e-scooters market. Japan, China, and India are also expected to shift towards an eco-friendly mode of transportation. Owing to the increase in traffic across the globe, coupled with low entry barriers create ample opportunities for the new players to enter the industry.

Asia Pacific electric motorcycles and scooters market dominated the industry in 2015. China Demand in China is significantly higher than other countries across the region. Western European countries like Spain, UK, and Germany promises prominent growth over the next eight years. In Asia fuel-based, low-powered motorcycles are mostly used as a mode of transportation. Whereas in North America fuel-based, high powered luxury bikes are often used for leisure than as primary transportation. Electric motorcycles and scooters are being purchased as complementary vehicles for transportation in the region.

Major players in e-motorcycle and e-scooters market are Zero Motorcycles, Light Electric Vehicle Association (LEVA), Honda Motor Co., Ltd, Green Energy Motors, Alta Motors, Polaris Industries, Inc., Polaris Industries, Lighting Motors Corporation, BMW Motorrad International, GOVECSJiangsu Xinri E-Vehicle Co., Ltd., BOXX Corp, AllCell Technologies, Greenwit Technologies (Motorino), E.T Scooters, Terra Motors, Chaowei Power, Gogoro, Peugeot Scooters, Yadea Technology Group Co, Hollywood Electrics, Harley-Davidson, iO Scooters, Yamaha Motor Co.

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