Electric Scooter and Motorcycle Market Trends and Forecasting Growth for 2023-2031 (CAGR) of 10.2%

Report Ocean conducted research on the global Electric Scooter and Motorcycle market, some important discoveries were made. First, the market is expanding steadily, and over the coming years, demand is expected to rise. Second, there is a lot of market competition, yet only a few major businesses control the sector. Last but not least, there are numerous chances for market innovation and improvement, notably in terms of product offerings and marketing tactics.

The global electric scooter and motorcycle market revenue was around US$ 35.9 billion in 2021 and is estimated to reach US$ 94.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 10.2% during the forecast period from 2022 to 2031.

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Electric motorcycles and scooters are plug-in electric vehicles that have two or three wheels. The two-wheeler’s power source is its rechargeable battery, which also feeds electricity to the motor. Modern bikes and scooters use lithium-ion battery pack which is utilized in the most expensive part of an electric two-wheeler.

Factors Influencing Market Growth

Growing government initiatives for electric mobility and consumer preference for using e-bikes as an eco-friendly commuting option. Such factors fuel the market growth.

Investments in the development of new types of electric two-wheeled vehicles and bicycles/scooters that have superior performance characteristics and new technologies for core parts and components. Thus these factors are anticipated to boost the market.

Improvements in infrastructure and the growing innovation of battery technology create a lucrative opportunities in the market.

Due to the high initial cost of scooters and e-bikes and the prohibition of their use in some places. Thus these factors restrain market growth.

Study of the COVID-19 Pandemic

The COVID-19 pandemic had a significant negative impact on the electric scooter and motorcycle market. Due to the government enacted a lockdown global supply chains have suffered significant damage. However, during the pandemic, many businesses have ceased operations and are waiting for better market circumstances. Nevertheless, several business sectors are utilizing this time to expand their operations.

As a result, it is predicted that the e-bike sector would have a substantial increase in sales after COVID-19 in 2021. However, the market would return to normal after 2021, and the demand for e-bikes would increase at a moderate rate. Considering the continuing of safer public and private transportation systems, such as buses, metros, buses, and cab/ride-sharing platforms.

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Regional Insights

Asia-Pacific is predicted to dominate the electric scooter and motorcycle market. The four largest economies in the region are India, China, South Korea, and Japan, and these economies are anticipated to have an impact on the market as a whole. These nations are seeing an increase in the number of new businesses as well as traditional, well-established enterprises in the market.

Leading Competitors
The leading competitors in the global electric scooter and motorcycle market are:
AIMA TECHNOLOGY GROUP CO. LTD
Alta Motors
Ampere Vehicles Pvt Ltd (Greaves Cotton)
Bell Custom Cycles
Blacksmith Electric
Electric Motion
Energica Motor Company S.p.A
Essence Motorcycles
Govecs Group
Harley Davidson
Hero Eco Vehicles Pvt Ltd
Hero Electric
Honda Motors
Husqvarna Motorcycles GmbH
Johammer e-mobility GmbH
KTM AG
Lightning Motorcycles
Others
Segmentation Analysis
The global electric scooter and motorcycle market segmentation focuses on Vehicle Type, Battery Type, Range, Power, Vehicle Class, Usage and Region.
Segmentation based on Vehicle Type
E-Scooter/Moped
E-Motorcycle
Segmentation based on Battery Type
Sealed Lead Acid
Lithium-ion
Others
Segmentation based on Range
Less Than 75 Miles
75 Miles to 100 Miles
More Than 100 Miles
Segmentation based on Power
Less Than 3kW
3kW to 5kW
More Than 5kW
Segmentation based on Vehicle Class
Economy
Luxury

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Segmentation based on Usage
Commercial
Private
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America

Electric Scooter and Motorcycle Market Research Report Scenario includes:

>The report provides qualitative and quantitative trends of global Electric Scooter and Motorcycle Market across type, type of products, service, and geography.

>The report starts with the key takeaways, highlighting the key trends and outlook of the global Electric Scooter and Motorcycle Market.

>Provides the research methodology of the study.

>Further provides PEST analysis for each region.

>Highlights the key industry dynamics in the Electric Scooter and Motorcycle Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.

>Discusses the global Electric Scooter and Motorcycle Market scenario, in terms of historical market revenues, and forecast till the year 2031.

What our reviews offer:

Market share assessments for the regional and country-level segments

Strategic hints for the new entrants

Covers market facts for 2023, until 2031

Market tendencies (drivers, opportunities, threats, challenges, funding opportunities, and recommendations)

Strategic pointers in key enterprise segments based totally on the market estimations

Competitive landscaping mapping the key frequent trends

Company profiling with specified strategies, financials, and current developments

Supply chain tendencies mapping the modern day technological advancements

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