(MENAFN- PR Newswire)
NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global
Low-Powered Electric Motorcycle and Scooter Market size is estimated to grow by USD 23.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over
17.96% during the forecast period. government incentives and regulations that promote use of EVS is driving market growth,
with a trend towards
advances in battery technology used in electric motorcycle and scooters However,
limited range of low-powered electric motorcycles and scooters poses a challenge - Key market players include Ather Energy Pvt. Ltd., BMW AG, Electrotherm Ltd., Energica Motor Company Spa, Evoke Electric Motorcycles HK Ltd., Gogoro Inc., Greaves Cotton Ltd., Harley Davidson Inc., Hero Electric Vehicles Pvt. Ltd., Lightning Motors Corp, Mahindra and Mahindra Ltd., Niu Technologies, Okinawa Autotech Internationall Pvt. Ltd., Piaggio and C. Spa, PIERER Mobility AG, Revolt Motors, SONGUO MOTORS Co. Ltd., TVS Motor Co. Ltd., Z Electric Vehicle Corp., Zero Motorcycles Inc., and Zhejiang Luyuan Electric Vehicle Co. Ltd..
Continue Reading
Technavio has announced its latest market research report titled Global low-powered electric motorcycle and scooter market 2024-2028
AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now
| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Vehicle Type (Electric scooters and Electric motorcycles), Battery Type (Lithium-ion battery, Lead acid battery, and Other batteries), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
| Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
| Key companies profiled |
Ather Energy Pvt. Ltd., BMW AG, Electrotherm Ltd., Energica Motor Company Spa, Evoke Electric Motorcycles HK Ltd., Gogoro Inc., Greaves Cotton Ltd., Harley Davidson Inc., Hero Electric Vehicles Pvt. Ltd., Lightning Motors Corp, Mahindra and Mahindra Ltd., Niu Technologies, Okinawa Autotech Internationall Pvt. Ltd., Piaggio and C. Spa, PIERER Mobility AG, Revolt Motors, SONGUO MOTORS Co. Ltd., TVS Motor Co. Ltd., Z Electric Vehicle Corp., Zero Motorcycles Inc., and Zhejiang Luyuan Electric Vehicle Co. Ltd. |
Key Market Trends Fueling Growth
The global low-powered electric motorcycle and scooter market is experiencing significant growth due to advancements in battery technology. Improvements in energy density, longer range, and shorter charging times are making electric motorcycles and scooters increasingly appealing to consumers. Lithium-ion batteries , in particular, have undergone substantial advancements, enabling low-powered electric motorcycles and scooters to deliver higher performance levels and extended travel distances on a single charge. Leading vendors, such as Zero Motorcycles and Niu Technologies, are at the forefront of battery technology innovation. Zero's Z-Force lithium-ion battery system offers impressive energy density and longevity, while Niu's advanced battery technology delivers exceptional range and efficiency. Additionally, declining battery prices and increasing energy density are making electric motorcycles and scooters more affordable, expanding their adoption, especially in cost-conscious emerging markets. Manufacturers leveraging the latest battery technologies are offering low-powered electric motorcycles and scooters that deliver superior performance, range, and affordability, contributing to the market's growth during the forecast period.
The Low-Powered Electric Motorcycle and Scooter market is experiencing emerging global trends with increasing demand for eco-friendly transportation solutions. Product demand is driven by rising environmental concerns, changing consumer preferences, and regulatory environment. Pricing dynamics are influenced by raw material costs, particularly for battery-grade lithium and lithium hydroxide used in Li-ion batteries. Profitability margins are affected by vehicle production efficiency and competitive positioning among motorcycle manufacturers. Regulatory changes, technological advancements, and economic conditions create both opportunities and risks. Primary opportunities include the off-road segment, off-roading recreational vehicles, shared mobility, and sustainability initiatives. Entry strategies include product portfolios in modern electric vehicles, scooters, and off-road motorcycles. Strategic developments include partnerships, acquisitions, and pricing strategies. Growth analysis recommends focusing on distribution networks and risk management. Recommendations include staying updated on technological disruptions and consumer behavior, as well as implementing globalization and growth strategies.
Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!
Market
Challenges
The limited range of low-powered electric motorcycles and scooters poses a significant challenge to the growth of this market. While these vehicles provide eco-friendly and affordable urban mobility solutions, their restricted range makes them unsuitable for longer commutes or extended travel. This issue creates consumer apprehension, as potential buyers may question their practicality for daily transportation needs. This phenomenon, known as range anxiety, discourages consumers from purchasing electric motorcycles and scooters. Manufacturers face challenges in promoting electric two-wheelers as viable alternatives to traditional gasoline-powered vehicles due to this limitation. Despite the environmental benefits and potential cost savings, the restricted range hinders widespread adoption, limiting market expansion to specific consumer segments. These factors will impede the growth of the global low-powered electric motorcycle and scooter market during the forecast period.
The Low-Powered Electric Motorcycle and Scooter market is experiencing emerging global trends with increasing demand for eco-friendly transportation solutions. Product demand is on the rise due to rising environmental concerns, changing consumer preferences, and technological advancements. Pricing dynamics are crucial for profitability margins, with competitive positioning influenced by product portfolios and regulatory changes. Manufacturers face challenges in vehicle production efficiency, raw material
sourcing, especially for battery-grade lithium and lithium hydroxide for Li-ion batteries. Regulatory environment and economic conditions impact growth analysis, with technological disruptions and sustainability initiatives shaping strategic developments. Entry strategies include shared mobility and off-road motorcycles and scooters in the off-roading recreational segment. Primary opportunities lie in modern electric vehicles, with motorcycle manufacturers focusing on expanding their product offerings. Raw material pricing and revenue generation are key considerations for risk management. Recommendations include focusing on distribution networks, strategic partnerships, and pricing strategies to maximize market share. Staying updated on technological advancements and regulatory changes is essential for long-term success.
Insights into how AI is reshaping industries and driving growth-
Download a Sample Report
Segment Overview
This low-powered electric motorcycle and scooter market report extensively covers market segmentation by
Vehicle Type
1.1 Electric scooters
1.2 Electric motorcycles
Battery Type
2.1 Lithium-ion battery
2.2 Lead acid battery
2.3 Other batteries
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1 Electric scooters-
The low-powered electric motorcycle and scooter market is experiencing significant growth due to increasing environmental concerns and rising fuel prices. Manufacturers are focusing on producing energy-efficient and cost-effective models to cater to this demand. Key players in the market include Hero Electric, Ather Energy, and Okinawa Autotech. These companies are investing in research and development to enhance battery technology and motor efficiency. The market is expected to continue expanding, offering profitable opportunities for businesses involved in manufacturing, distribution, and sales of electric two-wheelers.
Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022)
Research Analysis
The Low-Powered Electric Motorcycle and Scooter market is experiencing significant growth due to increasing environmental concerns and rising fuel prices. Raw materials used in the production of these vehicles include lithium-ion batteries, aluminum , and steel. Recommendations for market players include investing in research and development of more efficient batteries and exploring partnerships with component suppliers. Demand for low-powered electric motorcycles and scooters is expected to grow at a CAGR of 12% from 2021 to 2028. Pricing dynamics are a key factor in the market, with profitability margins being influenced by battery costs and production economies of scale. Competitive positioning is important, with companies focusing on product innovation and differentiation to gain market share. Regulatory changes, such as emissions standards and incentives for electric vehicles, will continue to impact the market. Primary opportunities include expanding into emerging markets and exploring new business models, such as ride-sharing and subscription services. Overall, the market for low-powered electric motorcycles and scooters is poised for continued growth, driven by a combination of consumer demand and regulatory support.
Market Research Overview
The Low-Powered Electric Motorcycle and Scooter Market is experiencing significant growth due to changing consumer preferences towards sustainable transportation, regulatory environment favoring electric vehicles, and economic conditions that make them an affordable alternative. Technological disruptions, such as advancements in Li-ion batteries using high-grade lithium like lithium hydroxide, are driving innovation in the sector. Sustainability initiatives and consumer behavior are also influencing the market, with globalization leading to increased demand in emerging markets. Risk management, growth analysis, and strategic developments are key areas of focus for manufacturers. Distributional channels and pricing strategies are also crucial factors in revenue generation. Raw material availability and pricing dynamics, particularly for battery-grade lithium, impact profitability margins. Primary opportunities include the off-road motorcycle and scooter segments, with modern electric vehicles gaining popularity in the off-roading recreational market. Regulatory changes and entry strategies are also significant considerations for market participants. Vehicle production efficiency and product portfolios are essential for competitive positioning. Emerging global trends include the rise of shared mobility services and the increasing importance of environmental concerns. The market is expected to continue growing, with demand forecasts indicating a strong future for low-powered electric motorcycles and scooters.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Vehicle Type
Electric Scooters
Electric Motorcycles
Battery Type
Lithium-ion Battery
Lead Acid Battery
Other Batteries
Geography
APAC
Europe
North America
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE?
440k+
Newsrooms &
Influencers
9k+
Digital Media
Outlets
270k+
Journalists
Opted In
GET STARTED
MENAFN01102024003732001241ID1108736945
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.