Latest News - Low-Powered Electric Motorcycle and Scooter Market: Electric scooters are expected to lead the Vehicle Type segment during 2024-2028

The Low-Powered Electric Motorcycle and Scooter Market is being driven by Government incentives and regulations that promote use of EVs

The Low-Powered Electric Motorcycle And Scooter Market is expected to grow at a CAGR of 17.96% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 23738.7 million. The global low-powered electric motorcycle and scooter market is experiencing significant growth due to advancements in battery technology. Lithium-ion batteries, in particular, have undergone substantial advancements, leading to enhanced energy density, longer ranges, and shorter charging times for electric motorcycles and scooters. These technological improvements address a major concern for potential buyers, range anxiety, and contribute to the increasing acceptance and adoption of these eco-friendly transportation options. The market's expansion is further fueled by the benefits of reduced emissions, lower operating costs, and the convenience of electric power. Overall, these advancements position low-powered electric motorcycles and scooters as a viable alternative to traditional gasoline-powered vehicles. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Vehicle Type
  • Electric scooters
  • Electric motorcycles
• Battery Type
  • Lithium-ion battery
  • Lead acid battery
  • Other batteries
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Spain
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Government incentives and regulations that promote use of EVs
• Growing awareness about environmental issues
• Fluctuating fuel prices

However, the market also witnesses some limitations, which are as follows:

• Limited range of low-powered electric motorcycles and scooters
• Regulations on EVs, including incentives, subsidies, and infrastructure development
• Limited availability of charging infrastructure

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Market Scope in Low-Powered Electric Motorcycle And Scooter Market Research Report

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Research Analysis Overview

The low-powered electric motorcycle and scooter market is experiencing primary opportunities due to increasing environmental concerns and regulatory changes favoring eco-friendly transportation. This shift is driving demand for electric two-wheelers, particularly in densely populated urban areas. However, profitability margins in this market can be slim due to competitive positioning and pricing dynamics. Raw material costs, such as lithium-ion batteries, also impact profitability. Demand forecasts indicate continued growth, with the global market expected to reach USD30.5 billion by 2027. To maintain a competitive edge, manufacturers should focus on innovation, such as longer battery life, faster charging times, and improved performance. Compliance with evolving regulations, including emissions standards and safety requirements, is also crucial. In conclusion, while the low-powered electric motorcycle and scooter market presents significant opportunities, profitability depends on strategic positioning, cost management, and regulatory compliance. Manufacturers must stay agile to meet changing consumer preferences and market demands.

Market Research Overview

The global motorcycle manufacturers market encompasses businesses involved in the production of motorcycles, scooters, trikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers. Key growth drivers for the market include the surging demand for two-wheelers in the Asia-Pacific region (APAC), which accounts for over 60% of global sales, with India, China, Indonesia, and Thailand collectively accounting for over 75% of APAC sales. India, in particular, represents a significant market opportunity for motorcycle manufacturers. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/