Global Low-Powered Electric Motorcycle and Scooter Market 2020-2024 | Emergence of All-Electric Off-road Motorcycles to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 18, 2019--
The global low-powered electric motorcycle and scooter market is expected to post a CAGR of close to 7% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global low-powered electric motorcycle and scooter market 2020-2024. (Graphic: Business Wire)
With the increasing popularity of electric-powered passenger cars and buses, the demand for low cost Li-ion batteries has increased in the recent years. Manufacturers are increasingly preferring efficient and economic Li-ion batteries to enhance the vehicle production efficiency. The adoption of low-cost or economic Li-ion batteries aids in the minimization of the overall production cost incurred in manufacturing low-powered electric motorcycles and scooters. Furthermore, with lowering prices of raw materials such as battery-grade lithium carbonate and lithium hydroxide, the prices of Li-ion batteries are further likely to reduce during the forecast period. Thus, the growing adoption of economic Li-ion batteries for manufacturing modern electric vehicles will drive the growth of the low-powered electric motorcycle and scooter market during the forecast period.
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As per Technavio, the emergence of all-electric off-road motorcycles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Low-Powered Electric Motorcycle and Scooter Market: Emergence of All-Electric Off-Road Motorcycles
Off-road motorcycles or adventure motorcycles have started witnessing significant popularity in recent years. As a result, various prominent motorcycle manufacturers are increasingly focusing on the off-road segment and increasing their offerings by expanding their product portfolios. In addition, rising environmental awareness and governmental push for minimizing CO 2 emissions are also likely to impact the electric off-road two-wheeler market segment positively during the forecast period. Furthermore, an increasing preference for off-roading recreational activities will also drive the global low-powered electric motorcycle and scooter market during the forecast period.
“Increasing government subsidies and incentives for electric vehicles and rising adoption of electric motorcycles and scooters for shared mobility will boost the low-powered electric motorcycle and scooter market growth during the forecast period”, says a senior analyst at Technavio.
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Global Low-Powered Electric Motorcycle and Scooter Market: Segmentation Analysis
This market report segments the global low-powered electric motorcycle and scooter market by vehicle type (electric scooters and electric motorcycles) and geography (APAC, Europe, MEA, North America, and South America).
APAC led the low-powered electric motorcycle and scooter market share in 2019, followed by Europe, North America, South America, and MEA respectively due to the growing adoption of low-powered electric motorcycles and scooters in economies including India, China, South Korea, and Japan. In addition, increasing environmental concerns and rising focus of the government on minimizing fuel consumption will lead to an increased adoption of these vehicles during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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INDUSTRY KEYWORD: MOTORCYCLES AUTOMOTIVE ALTERNATIVE VEHICLES/FUELS
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 12/18/2019 02:30 AM/DISC: 12/18/2019 02:30 AM