Global Business Report on Electric Scooter and Bike Industry

by Rahul Gautam Manager

The global electric scooter and motorcycle market is projected to generate a revenue of $13,864.0 million by 2025, witnessing a 7.3% CAGR during the forecast period (2018–2025). The market is growing due to the tax concession on purchasing eco-friendly vehicles, favorable regulatory environment, low maintenance of these vehicles, and rising concern regarding environmental degradation. During the historical period (2013–2017), the larger demand, both in terms of value and volume, was created for scooters. The faster CAGR is projected to be registered by motorcycles during the forecast period, in terms of value and volume.

Two types of batteries are used in electric scooters and motorcycles, namely lithium-ion (Li-ion) and sealed lead acid (SLA). The electric scooter and motorcycle market was dominated by the SLA category during the historical period, both in terms of value and volume. The Li-ion category is projected to grow at a faster pace during the forecast period, in terms of value and volume. This is because Li-ion batteries have a higher density as compared to SLA batteries, thereby making them more efficient and lighter.

Geographically, the largest share of the electric scooter and motorcycle market was occupied by the Asia-Pacific region during the historical period, with a value share of more than 90.0% in 2017. Among all the countries categorized in the region, China accounted for the major value share of the market during the historical period and is projected to retain its position during the forecast period. This is attributed to the high-paced urbanization in the country, and its large population. India is projected to witness the fastest growth rate during the forecast period.

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All of the five major players, Yadea Technology Group Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., AIMA Technology Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., and Dongguan Tailing Electric Vehicle Co. Ltd. are based in China. The other players who have good regional presence include GOVECS AG, Ampere Vehicles Pvt. Ltd., Vmoto Limited, Hero Electric Vehicles Pvt. Ltd., Energica Motor Company S.p.A., BMW AG, and Mahindra GenZe.

Market Segmentation by Product