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NEW YORK, Oct. 1, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global Low-Powered Electric Motorcycle and Scooter Market size is estimated to grow by USD 23.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 17.96% during the forecast period. Government incentives and regulations that promote use of EVS is driving market growth, with a trend towards advances in battery technology used in electric motorcycles and scooters However, limited range of low-powered electric motorcycles and scooters poses a challenge - Key market players include Ather Energy Pvt. Ltd., BMW AG, Electrotherm Ltd., Energica Motor Company Spa, Evoke Electric Motorcycles HK Ltd., Gogoro Inc., Greaves Cotton Ltd., Harley Davidson Inc., Hero Electric Vehicles Pvt. Ltd., Lightning Motors Corp, Mahindra and Mahindra Ltd., Niu Technologies, Okinawa Autotech Internationall Pvt. Ltd., Piaggio and C. Spa, PIERER Mobility AG, Revolt Motors, SONGUO MOTORS Co. Ltd., TVS Motor Co. Ltd., Z Electric Vehicle Corp., Zero Motorcycles Inc., and Zhejiang Luyuan Electric Vehicle Co. Ltd..

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Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Vehicle Type (Electric scooters and Electric motorcycles), Battery Type (Lithium-ion battery, Lead acid battery, and Other batteries), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) Region Covered APAC, Europe, North America, South America, and Middle East and Africa Key companies profiled Ather Energy Pvt. Ltd., BMW AG, Electrotherm Ltd., Energica Motor Company Spa, Evoke Electric Motorcycles HK Ltd., Gogoro Inc., Greaves Cotton Ltd., Harley Davidson Inc., Hero Electric Vehicles Pvt. Ltd., Lightning Motors Corp, Mahindra and Mahindra Ltd., Niu Technologies, Okinawa Autotech Internationall Pvt. Ltd., Piaggio and C. Spa, PIERER Mobility AG, Revolt Motors, SONGUO MOTORS Co. Ltd., TVS Motor Co. Ltd., Z Electric Vehicle Corp., Zero Motorcycles Inc., and Zhejiang Luyuan Electric Vehicle Co. Ltd.

Key Market Trends Fueling Growth

The global low-powered electric motorcycle and scooter market is experiencing significant growth due to advancements in battery technology. Improvements in energy density, longer range, and shorter charging times are making electric motorcycles and scooters increasingly appealing to consumers. Lithium-ion batteries, in particular, have undergone substantial advancements, enabling low-powered electric motorcycles and scooters to deliver higher performance levels and extended travel distances on a single charge. Leading vendors, such as Zero Motorcycles and Niu Technologies, are at the forefront of battery technology innovation. Zero's Z-Force lithium-ion battery system offers impressive energy density and longevity, while Niu's advanced battery technology delivers exceptional range and efficiency. Additionally, declining battery prices and increasing energy density are making electric motorcycles and scooters more affordable, expanding their adoption, especially in cost-conscious emerging markets. Manufacturers leveraging the latest battery technologies are offering low-powered electric motorcycles and scooters that deliver superior performance, range, and affordability, contributing to the market's growth during the forecast period.

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Market Challenges

The limited range of low-powered electric motorcycles and scooters poses a significant challenge to the growth of this market. While these vehicles provide eco-friendly and affordable urban mobility solutions, their restricted range makes them unsuitable for longer commutes or extended travel. This issue creates consumer apprehension, as potential buyers may question their practicality for daily transportation needs. This phenomenon, known as range anxiety, discourages consumers from purchasing electric motorcycles and scooters. Manufacturers face challenges in promoting electric two-wheelers as viable alternatives to traditional gasoline-powered vehicles due to this limitation. Despite the environmental benefits and potential cost savings, the restricted range hinders widespread adoption, limiting market expansion to specific consumer segments. These factors will impede the growth of the global low-powered electric motorcycle and scooter market during the forecast period.

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Segment Overview

This low-powered electric motorcycle and scooter market report extensively covers market segmentation by

Vehicle Type

1.1 Electric scooters

1.2 Electric motorcycles

Battery Type

2.1 Lithium-ion battery

2.2 Lead acid battery

2.3 Other batteries

Geography

3.1 APAC

3.2 Europe

3.3 North America

3.4 South America

3.5 Middle East and Africa

1.1 Electric scooters- The low-powered electric motorcycle and scooter market is experiencing significant growth due to increasing environmental concerns and rising fuel prices. Manufacturers are focusing on producing energy-efficient and cost-effective models to cater to this demand. Key players in the market include Hero Electric, Ather Energy, and Okinawa Autotech. These companies are investing in research and development to enhance battery technology and motor efficiency. The market is expected to continue expanding, offering profitable opportunities for businesses involved in manufacturing, distribution, and sales of electric two-wheelers.

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Research Analysis

Market Research Overview

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

Vehicle Type

Electric Scooters

Electric Motorcycles

Battery Type

Lithium-ion Battery

Lead Acid Battery

Other Batteries

Geography

APAC

Europe

North America

South America

Middle East And Africa

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio

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