US$ 19.3 Billion Global Electric Scooters and Motorcycles Market Size to grow by 7.8% in 2018

“Bekryl Market Research: Global Electric Scooters and Motorcycles Industry Report, 2018-2028”
Global Electric Scooters and Motorcycles Market witnessed 40% increase in global sales in 2017 than that in 2014. The trend is expected to further continue with Asia Pacific emerging as the most lucrative business destination for industry players.

The Global Electric Scooters and Motorcycles Market Size is estimated to be valued at USD 19.3 billion in 2018 and will register a CAGR of 7.8% between 2017 and 2028.

Rise In electric scooters and motorcycles market sales has brought new market opportunity for industry players, however, at same time has posed challenge for leading companies to implement technological changes to establish business presence worldwide. Despite the drop in oil prices post 2014, two wheeler electric vehicles managed to witness 40% increase in sales in 2017 as compared to that in 2014. Thus, clearly suggesting the optimistic consumer outlook towards electric vehicles.

Bekryl’s market research report, Global Electric Scooters and Motorcycles Market Size Analysis and Industry Opportunity (2018-2028), finds Asia Pacific to account for 64% of global sales in 2018. Much of the global sales will be in china and India. As of 2018, China dominated the global market with large number of regional players competing to capture a major chunk of the regional share. While the unit penetration rate is significantly higher in China, Western Europe leads in terms of per capita EV sales. This is primarily attributed to higher disposable income along with government support towards sustainable growth. Changing industry dynamics will boost sales in Asia Pacific – leading to 1,516 gain in basis points between 2016 and 2028.

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Some key trends from the global Electric Scooters and Motorcycles market:

Trend#1: Electric Scooters Sales to be 2.5X higher than Electric Motorcycle in 2018

Electric scooter has wide scale popularity globally. The vehicle will register impressive growth in overall demand thereby creating an incremental opportunity of US$ 15 billion between 2017 and 2028.

Trend#2: Strategic Focus on Product Differentiation

The industry is getting competitive with technological advancement. At the same time, the industry is offering favorable business environment for new entrants to capitalize the market. As such, companies are focusing on product level strategies to offer smart e-vehicles. While few companies are focusing on development of renewable batteries, others are integrating artificial intelligence including big data to create AI based e-two wheeler vehicle.

Trend#3: Inorganic Growth Approach by Leading Companies

Global electric scooters and motorcycles market is slowly shifting towards consolidation with leading players focusing on mergers and acquisitions as a part of strengthening position worldwide. For instance, in 2017, Taiwan based electric scooter company – Gogoro – raised US$ 300 million in series C funding from Temasek Holdings. In 2015, Polaris acquired Brammo to strengthen its position in e-motorcycle segment.

Some key global Electric Scooters and Motorcycles Market Players are Yadea, Aima, Zhejiang Luyuan, Niu, Amego Electric, Alta Motors, Energica Motor Company, BMW, Govecs Group, Honda Motors, KTM, Mahindra GenZe, Sunra, Suzuki Motors Corporation, Terra Motors Group, Victory Motorcycles, Yamaha Motors, Polaris Industries Inc., Zero Motorcycle, Z Electric Vehicle, and Shandong Incalcu Electric Vehicle.

Global electric scooters and motorcycles market is highly heterogeneous and will be highly competitive during the forecast period. Moreover, instead of overall share, unit sales will be the key parameter in deciding the actual industry scope. As such, companies should strategically focus on strengthening distribution channel locally while aiming globally.              

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The report offers key strategic market insights with special focus on 24 countries across seven regions. It contains information pertaining to total units across countries, actual sales vs total addressable market, key strategic initiatives and go-to-market level along with various macroeconomic factors driving the electric motorcycles and scooters market. To know more, download sample. 

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