USD 21.3 Bn Electric Scooters and Motorcycles Market is Set to Register 13% CAGR, driven by Advancement in Battery Technology and Emergence of New Distribution Channel, says Bekryl

According to the recently report by Bekryl, Global Electric Scooters and Motorcycles Market was valued at US$ 21.3 billion in 2018 and is set to register 13% CAGR and witness 3.4X increase in revenue by 2028. Increasing pollution, rise in urbanization and advancement in battery technology has led 2 wheeler segment Industry players to embrace disruption and shift towards electric vehicles. Electric scooters offer lower total cost of ownership (TCOs). In certain configurations, electric scooters and motorcycles have lower total cost of ownership than comparable conventional two wheeler motor vehicles. Operational savings is one of the prime factor in boosting the growth of the electric scooters and motorcycles market during the forecast period. In addition, electric scooters and motorcycles run more quietly than conventional vehicle, which reduces noise pollution.

The report states Asia Pacific as the leading electric scooter and motorcycle market. In 2018, China dominated the regional sales with 94.5% market share. However, it will lose significant share to India, which is expected to gain 3,880 basis points by the end of 2028 – thereby becoming regional corridor to many companies. Overall, competition will heighten with traditional players slowly shifting towards electric scooter platform. Majority of the motorized electric scooters falls in category of 50cc to 125cc in the region. In terms of revenue, electric scooters accounted for 61% of total Asia Pacific market in 2018.

Few key Trends from Global Electric Scooters and Motorcycles Market:

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Key companies covered in the report are:

  • Zero Motorcycles Inc.
  • Bayerische Motoren Werke AG
  • Piaggio & C. SpA
  • Niu Technologies
  • Gogoro Inc.
  • Terra Motors Corp.
  • KTM AG
  • Govecs AG
  • Honda Motor Company, Ltd.
  • Jiangsu Xinri E-Vehicle Co., Ltd.-Sunra
  • Ninebot Inc.
  • Hero Electric Vehicles Pvt. Ltd.
  • Kingsong Intell Co., Ltd.
  • Alta Motors Inc.
  • Toyota Motor Corporation
  • Mahindra & Mahindra Ltd.