The Global Electric Scooter and Motorcycle Market was worth US$ 4.37 billion in 2022 and is anticipated to reach a valuation of US$ 14.7 billion by 2028 and is predicted to register a CAGR of 24.8% during 2023-2028.

Two-wheeled vehicles powered by electricity include motorbikes and electric scooters. Due to government subsidies and support for eco-friendly cars, as well as a surge in demand for powerful vehicles with zero carbon emissions, the market for electric scooters and motorbikes is expanding at a rapid rate. Due to its small weight and growing popularity for daily commuting inside urban areas, scooters have experienced a significant surge in demand on the global market in the second part of this decade.

Governments are investing more money to support charging infrastructure and incentives around the world, which will give OEMs a ton of chances to grow their income and geographic reach.

Market Drivers and Restraints:

The market is expanding as a result of stricter regulations on vehicle emissions, rising environmental awareness, and an increase in demand for cars that emit no carbon dioxide and produce green energy. For instance, according to the World Health Organization (WHO), ambient pollution causes 4.2 million deaths worldwide each year. Additionally, 91% of the world's population lives in areas where the WHO recommendations limit for acceptable air quality is completely exceeded. The rise in smart charging station availability, increased food and beverage delivery services, improvements to the infrastructure for charging, and declines in the cost of lithium batteries and solar-powered EV charging stations are all contributing to the growth of the global market for electric scooters and motorcycles.

Major obstacles to the growth of the global market for electric scooters and motorcycles include the poor performance of electric vehicles, a lack of charging infrastructure in some places, and rigorous laws governing the installation of charging stations. According to estimates from the Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI), 18.7 million electric vehicles are anticipated to be sold in the US alone by the end of 2030, necessitating the need for around 9.6 million charge ports.

To know more, read:

https://www.marketdataforecast.com/market-reports/electric-scooter-and-motorcycle-market

The report is segmented as follows:

The Electric Scooter and Motorcycle Market is segmented by Vehicle Type; the Market is segmented by Battery Type; the Market is segmented by Distance Covered; the Market is segmented by Voltage; the Market is segmented by Technology:

By Vehicle Type (E-Scooter/Moped and E-Motorcycle)

By Battery Type (Sealed Lead Acid & Lithium-Ion)

By Distance Covered (Below 75 Miles, 75–100 Miles, above 100 Miles)

By Voltage (36V, 48V, 60V & 72V)

By Technology (Plug-in & Battery)

Market Regional Segmentation:

The market for electric motorcycles and scooters is expected to expand most quickly in the next years in Europe. Developed nations like France, Germany, Spain, and the UK are found in Europe. Leading companies like Energica Motor Company, KTM, BMW, Piaggio, and others are present in the market. Rapid industrialization and infrastructure advancements in developed economies have opened up new paths and presented OEMs with a number of opportunities. This market is being driven in the region by the adoption of cutting-edge technology and the introduction of cutting-edge governmental regulations. Due to the subsidies granted to customers who buy the newest electric scooters and motorcycles, Belgium is expected to lead the EU market. A growth in demand for high-performance e-motorcycles has also been observed in Europe, according to producers like Energica and KTM.

The most important market is anticipated to be in Asia Pacific. The increasing desire for cleaner transportation as well as numerous initiatives by both private organizations and national governments are frequently cited as the causes of the market growth in the region. Due to its developing economy, China is promoting the spread of cutting-edge technology to improve electricity in the country. By 2020, China is expected to invest over USD 2.4 billion in the nation's infrastructure for charging stations. The Indian government is launching programs like FAME-II to promote the sale of electric two-wheelers in the region by giving consumers discounts and tax exemptions.

Click the link to get a Sample Copy of the Report:

https://www.marketdataforecast.com/market-reports/electric-scooter-and-motorcycle-market/request-sample

Impact of the COVID-19 pandemic on the market:

The market for electric motorcycles and scooters was adversely affected by the COVID-19 outbreak. The manufacturing and sales of new vehicles, including electric motorcycles and scooters, were halted by the global shutdown restrictions.

ABOUT US:

Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.

Contact Us:

Market Data Forecast

Website: https://www.marketdataforecast.com

Phone: +1-888-702-9626

Email: [email protected]