Press Release

The global low-powered electric motorcycle and scooter market was valued at USD 1,140 thousand units in 2021.

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Low-powered electric motorcycle and scooter runs on an electric motor that requires a constant supply of energy from batteries to operate. Electric vehicles were designed to replace traditional means of travel as they are one of the main causes of environmental pollution. EVs are gaining traction across the globe due to low carbon emission and maintenance, the convenience of charging at home, reduced engine noise, fuel efficiency, and smoother drive. Moreover, stringent government regulation regarding vehicle emissions and the drop in prices electric vehicle batteries drive the low-powered electric motorcycle and scooter market. The COVID-19 pandemic has had an adverse effect on the global automotive sector. The COVID-19 impact on global low-powered electric motorcycle and scooter market has severe disruptions in their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns and other limitations imposed by governments all over the world. The same can be said for the global market for low-powered electric motorcycle and scooter.

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The electric motorcycles segment is expected to dominate the market share of global low-powered electric motorcycle and scooter market owing to the manufacturers were concentrating their efforts on producing e-scooters/mopeds, which have a design that is better suited to incorporating an electric motor system. The plug-in segment is expected to dominate the market share of global low-powered electric motorcycle and scooter market owing to the affordable cost and easy operatable among the individuals. The Lithium-ion are expected to dominate the market share of global low-powered electric motorcycle and scooter market owing to original equipment manufacturers' growing preference for environmentally benign LI-ion batteries (OEMs). The 60V segment is expected to dominate the market share of global low-powered electric motorcycle and scooter market owing to increased usage of electric two-wheelers for daily commutes in congested cities, there is a desire for higher power and improved battery efficiency. The potential of 48V batteries to produce more power will help the market grow.

North America region is expected to dominate the market share of global low-powered electric motorcycle and scooter market due to presence of major market players and American Department of Energy (ADOE) supporting the development of new charging infrastructure. Along with the technological advancements with latest innovations fueling the growth of this region.  However, Asia Pacific region is expected to witness highest growth rate during the forecast period of global low-powered electric motorcycle and scooter market due to governments of developing countries offering attractive incentives on registrations of new electric vehicles such as zero or low registration fees, and the free charging infrastructure of electric vehicles. Moreover, China accounts for the huge share in the region’s market. China has invested around USD 2.4 Billion in improving the charging infrastructure in the country till 2020. The Indian government is promoting electric two-wheelers in the country through initiatives like FAME-II, which provides buyers with subsidies and tax slabs.

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KEY INDUSTRY DEVELOPMENTS:

April 2022, Greaves Cotton Limited get into partnership with Mesha Energy Solutions Pvt Ltd company aims to improve the battery technology for its products across the portfolio and expand its presence.

April 2022- ONYX Motorbikes, a California-based electric moped manufacturer, has just unveiled a new step-through bike known as the ONYX CTY2.

March 2022- Hero Electric made a strategic move by getting partnered with Sun Mobility To Deploy 10,000 Electric Swappable Two-Wheelers In 2022-23 to integrated with the smart- swappable battery technology. Hero Electric is planning to launch a new e-scooter, Hero Eddy, at short commutes powered by electricity.

February 2022- Hero Electric has tied up with ReadyAssist for training and upskilling 20,000 mechanics for servicing electric two- wheelers.

Read More Details On This Report : https://www.extrapolate.com/Automotive/low-powered-electric-motorcycle-and-scooter-market/25715