Electric Scooter and Motorcycles Market - Growth, Trends, and Forecast (2020 - 2025)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 70 Pages
The electric scooter and motorcycles market is anticipated to register a CAGR of above 10% during the forecast period (2020 - 2025).
Government Regulations are Fueling the Electric Scooter and Motorcycle Market Growth
In the current scenario of the market, the price of most of the electric 2 wheelers is high as compared to conventional ones, even after government subsidies electric 2 wheelers are still costlier than a conventional one. Governments are pushing hard to promote and provide more fuel to the growth of electric two-wheelers. Many countries where 2-wheelers are popular have come up with new incentive schemes for e-scooter and motorcycles. For instance, in 2019, the Indian government has announced that all two-wheelers less than 150 cc produced in India after March 31, 2025, should be electric and introduced its FAME II (Faster Adoption and Manufacturing of Electric Vehicles) policy.
Similarly, from 2020 Taiwan will be providing a subsidy of up to USD 900 - 1000 for the purchase of a new electric motorcycles/scooter, although it has been reduced from last year. Owing to its such plans in the past, in December 2019 Gogoro a local startup sells a record of 22,500 units. It also ended 2019 with a record of 145.000 sales in Taiwan.
Asia-Pacific Is Expected to Lead the E-Scooter and E-Motorcycle Market
Asia-Pacific is anticipated to lead the global electric scooter and motorcycles market over the forecast period. China, India, and Japan are the major economies in the regional market that are anticipated to influence the global market. These countries are witnessing an increasing number of startups as well as establish conventional manufacturers jumping in the market.
India which is one of the largest 2-wheeler markets is witnessing the entry of many new startups, these startups are marking their presence by launching new models. For instance, in 2020 BattRE Electric Mobility has launched an IoT e-scooter, which have the feature such as navigation assist, ride statistics, remote diagnostics, anti-theft alarm, speedometer call alerts, ride behavior suggestions.
The European region is also likely to have significant growth in the coming years. Its 2019 sales figure of the electric segment has seen double-digit growth of 46.7% compared to 2018.
The electric scooter and motorcycles market is moderately fragmented and has a number of local players. The conventional companies are showing their presence in this new market which is earlier the playground of the startups only by introducing new plants and making existing scooters and motorcycles electric. For instance,