The global market valuation of electric motorcycles & scooters will cross $40 billion by 2026. The market growth is owing to a growing number of emerging players in the industry. Emerging players, such as Segway, Pedego Electric Bikes, and Gogoro are establishing partnerships with scooter sharing companies to increase their market share says the report of Global Market Insights, Inc..
Electric motorcycles are anticipated to witness a high demand over the coming years due to the development of enhanced battery and powertrain technologies. These new developments provide superior engine performance and high speeds to electric motorcycles, augmenting their market share. The increasing demand for efficient long-range, low-noise transport solutions is one of the major factors driving the electric motorcycle segment’s growth. Additionally, subsidies and grants provided by governments on the purchase of electric motorcycles are driving its demand in the market.
24V batteries are expected to witness higher adoption in electric scooters compared to electric motorcycles. These batteries provide short distance ranges that are ideal for day-to-day commute in populated urban cities. 24V batteries contain a smaller number of cells, thereby reducing their cost and weight. The proliferation of electric scooter sharing services for urban mobility will drive the electric motorcycles & scooters market demand for 24V batteries.
The increasing carbon emission concerns in the Asia-Pacific are creating a huge demand for environmentally friendly transportation solutions in countries including India and China. Moreover, the emergence of several electric motorcycle & scooter manufacturers, such as Emflux and Ultraviolette Automotive Pvt. Ltd., in India will drive the regional market growth during the forecast timeline.
Key players operating in the electric motorcycles & scooters market include Harley Davidson, Amper Vehicles, Shandong Incalcu Electric Vehicle Co. Ltd., Mahindra GenZe, Lightning Motorcycles, Energica Motor Company S.p.A, KTM, Govecs Group, Zero Motorcycles, Z Electric Vehicle. Manufacturers are focusing on strategic collaborations with technology providers and other industry players to enhance the performance of their motorcycle & scooter models.