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The global low-powered electric motorcycle and scooter market and it is poised to grow by 2,710.07 thousand units during 2020-2024, progressing at a CAGR of over 6% during the forecast period says the report of Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Electrotherm Ltd., Greaves Cotton Ltd., Hero Electric Vehicles Pvt. Ltd., Mahindra & Mahindra Ltd., Niu Technologies, SONGUO MOTORS Co. Ltd., TACITA Srl, Z Electric Vehicle Corp., Zero Motorcycles Inc., and Zhejiang Luyuan Electric Vehicle Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The rising demand for low cost li-ion batteries has been instrumental in driving the growth of the market.
Low-Powered Electric Motorcycle and Scooter Market 2020-2024: Segmentation
- Low-Powered Electric Motorcycle and Scooter Market is segmented as below:
- Vehicle Type
- Electric Scooters
- Electric Motorcycles
- Geographic Landscape
- North America
- South America