The Electric Scooter and Motorcycle Market Is Estimated To Record a CAGR of Around 5.14% During The Forecast Period
Market Highlights
The Global Electric Scooter and Motorcycle market is projected to be valued at USD 18.96 Billion by 2033, recording a CAGR of around 5.14% during the forecast period. Â An electric scooter is a two-wheeled vehicle propelled by an electric motor, typically used for short-distance commuting or leisure purposes. These scooters are powered by rechargeable batteries and offer a convenient and eco-friendly alternative to traditional gas-powered scooters. An electric motorcycle, on the other hand, is a two-wheeled vehicle similar in design to a traditional motorcycle but powered by an electric motor instead of an internal combustion engine. Electric motorcycles provide emission-free transportation and often offer comparable performance to their gas-powered counterparts, with the added benefits of reduced noise and maintenance costs.
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The COVID-19 pandemic brought a significant and transformative impact on the Electric Scooter and Motorcycle market, prompting a surge in demand for personal mobility solutions as people sought alternatives to public transportation to minimize the risk of virus transmission. This shift in consumer behavior accelerated the adoption of electric scooters and motorcycles, driven by their affordability, convenience, and eco-friendly attributes. Governments and urban planners also embraced these vehicles as part of sustainable mobility initiatives, leading to increased infrastructure investments and regulatory support. Additionally, the pandemic spurred innovation in the sector, with companies focusing on enhancing safety features, extending battery range, and improving overall performance to meet the evolving needs of consumers in a post-pandemic world.
Segmental Analysis
The global Electric Scooter and Motorcycle market has been segmented based on Product, Battery Type, Voltage, and Technology Type.
Based on the Product, the Electric Scooter and Motorcycle market is segmented into E-Scooter/Moped and E-Motorcycle. The E-Scooter/Moped segment is expected to have a larger market share throughout the forecast period.
Based on Battery Type, the global Electric Scooter and Motorcycle market has been divided into Sealed Lead Acid and lithium-ion. The Sealed Lead Acid segment is anticipated to dominate the market.
Based on the Voltage, the Electric Scooter and Motorcycle market is segmented into 36V, 48V, 60V, and 72V. The 36V segment is expected to have a larger market share throughout the forecast period.
Based on the Technology Type, the Electric Scooter and Motorcycle market is segmented into Plug-In and battery. The Plug-In segment is expected to have a larger market share throughout the forecast period.
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Regional Analysis
The Electric Scooter and Motorcycle market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America and Europe lead in terms of technological advancements and adoption of electric vehicles, driven by environmental concerns and government incentives. Asia-Pacific emerges as a key growth region due to its large population, rapid urbanization, and increasing awareness of sustainable transportation solutions. South America and the Middle East & Africa regions also show growth potential, propelled by improving infrastructure and rising demand for eco-friendly mobility options.