Electric Scooter and Two-wheeler Market Worth $644.5 Billion by 2028

According to a new market research report titled “Electric Scooters and Two-wheelers Market by Vehicle Type (Two-wheelers, E-scooters & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW, 20kW to 100kW), Battery Technology (SLA, Li-ion, Li-ion Polymer), Motor Type, Charging Type, End-user, and Geography— Global Forecast to 2028”, published by Meticulous Research®, the electric scooters and two-wheelers market is expected to grow at a CAGR of 29.4% from 2021 to 2028 to reach $644.5 billion by 2028. By volume, this market is expected to grow at a CAGR of 21.2% from 2021 to 2028 to reach 209.0 million units by 2028.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5191?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=26-09-2023

Electric scooters and two-wheelers are used for short-distance commuting within cities and towns and courier and e-commerce delivery applications. These vehicles have a smaller battery pack and a driving range of less than 100KM per charge. These vehicles are lightweight, more efficient than conventional bikes, and can maneuver easily through congested streets. They serve the limited purpose of short-distance commuting.

Growth of this market is backed by the increasing adoption of electric two-wheelers and e-bikes for short commutes, rising environmental concerns, and increasing investments by ride-hailing companies in the micromobility space. Moreover, rising health awareness among millennials, increasing efforts by OEMs to produce lightweight bikes, and increasing trend towards connected e-Bikes provide significant opportunities in this market.

However, the high cost of electric two-wheelers, and e-scooters & bikes, and the short lifespan of batteries obstructs the growth of this market to some extent. Increasing theft and vandalism of e-bikes & e-scooters, poor cycling infrastructure in developing countries, and lack of regulations in electric two-wheelers and micromobility space are challenging the growth of the electric scooters and two-wheelers market.

The Impact of COVID-19 on the Electric Scooter Market

The COVID-19 pandemic has adversely hit many economies around the globe. To control the spread of this disease and avoid the related consequences, governments across the globe have announced partial or complete lockdowns, majorly impacting many manufacturing and service industries, including electric two-wheelers and e-bikes.

The COVID-19 pandemic has an overall positive impact on the electric two-wheelers and E-bikes market worldwide. With governments worldwide encouraging people to avoid crowded public transportation systems wherever possible, people have started taking their bikes for short-distance commuting. Governments in European countries invested in widescale cycling infrastructure. According to European Cyclists' Federation, the sales of E-bikes in Europe during the COVID-19 pandemic grew by 47%. Sales of electric bicycles in the U.S. grew by 145% during the pandemic as these vehicles provide the ability to get around while remaining socially distanced from other people.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5191?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=26-09-2023

In 2020, the European electric two-wheeler market grew by 22% as COVID 19 pandemic boosted the individual mobility demand. Moreover, government initiatives are encouraging people to switch to green mobility is driving the growth in the electric two-wheeler market in Europe. For instance, in 2020, the government of the U.K. announced a GBP 2 billion (USD 2.83 billion) package for developing “pop-up bike lanes” and the widening of pavements for pedestrians and legalize the use of rental e-scooters on public roads. Although the COVID-19 pandemic has negatively affected many industries, its effect on electric scooters and two-wheelers is positive. 

Rising Environmental Concerns to Drive the Demand for Electric Scooters and Two-Wheelers Market

The climate crisis is accelerating at an unprecedented rate, and air pollution is a major issue in public health as epidemiological studies have highlighted its numerous detrimental health consequences. Air pollution has also been considered a potential environmental risk factor for neurological diseases and neuropathology. But as the technology is upgrading, the shift of paradigm from normal vehicles (which run on fuels like petroleum, CNG) to electric vehicles is increasing.

Electric two-wheelers, e-scooters & bikes for short distances can help prevent air pollution and noise pollution. These e-scooters are part of a growing range of shared micromobility options in cities across Europe, the U.S., and Asia. The government agencies, including the EPA (Environmental Protection Agency), have started introducing limits over nitrogen oxide and carbon dioxide emissions, making all automakers follow the rules and move forward to introduce the electric two-wheelers e-scooters & bikes for short commutes.

Key Findings in the Electric Scooter Market Study:

To provide efficient analysis, Meticulous Research^® has segmented this market based on vehicle type (two-wheelers, e-scooters & bikes), power output (less than 3.6kW, 3.6kW to 7.2kW, 20kW to 100kW), battery technology (sealed lead acid, lithium-ion, lithium-ion polymer), motor type (hub motor, mid-drive motor), charging type (connector, wireless charging) end-user (government institutions, academic institutes/universities, business organizations, micromobility service providers, individuals), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa).

Based on vehicle type, the electric scooters and two-wheelers market is mainly segmented into two-wheelers and e-scooters & bikes. The two-wheelers segment accounted for the largest share of the electric scooters and two-wheelers market in 2020 by value. The large share of this segment is mainly attributed to increasing government policies for promoting electric mobility, growing awareness regarding the need to reduce greenhouse gas emissions and environmental pollution, rising demand for electric two-wheelers among consumers, increasing petrol prices, and stringent emission norms. However, the e-scooters & bikes segment is expected to grow at the highest CAGR by value during the forecast period.

Based on power output, the electric scooters and two-wheelers market is segmented into less than 3.6kW, 3.6kW to 7.2kW, and 20kW to 100 kW. The less than 3.6kW segment accounted for the largest share of the electric scooters and two-wheelers market in 2020. The large share of this segment is mainly attributed to the increasing adoption of e-scooters & bikes for urban commute and recreational activities, rising initiatives by government authorities for increasing adoption of e-scooters & bikes, and increasing investments by ride-hailing companies for deploying e-scooters & bikes for micromobility. However, the 3.6kW to 7.2kW segment is expected to grow at the highest CAGR during the forecast period.

Quick Buy – Electric Scooters and Two-wheelers Market Research Report: https://www.meticulousresearch.com/Checkout/38798727?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=26-09-2023

Based on battery technology, the electric scooters and two-wheelers market is segmented into sealed lead-acid, lithium-ion, and lithium-ion polymer. The lithium-ion segment accounted for the largest share of the electric scooters and two-wheelers market in 2020. The large share of this segment is mainly attributed to the high energy density of lithium-ion, decreasing price of lithium-ion batteries, high energy efficiency, good high-temperature performance, and low self-discharge. However, the lithium-ion polymer segment is expected to grow at the highest CAGR during the forecast period.

Based on motor type, the hub motors segment accounted for the largest share of the electric scooters and two-wheelers market in 2020. The geared hub motors segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to better durability and speed control of geared hub motor, smaller size, and lightweight; lesser mechanical losses since heavy transmission, driveline, differential, and axles are not needed; offers higher flexibility, generates high torque at lower RPMs, and can be additionally used as brakes.

Based on end user, the business organizations segment accounted for the largest share of the electric scooters and two-wheelers market in 2020. The large share of this segment is mainly attributed to the increasing government subsidies and support to promote electric mobility across the globe, increasing use of e-scooters & bikes by courier and e-commerce delivery personnel, and the growing implementation of mobility-as-a-service. Moreover, this segment is expected to grow at the highest CAGR during the forecast period.

Geographically, the market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is estimated to account for the largest share of the electric scooters and two-wheelers market in 2020. However, North America is expected to witness the fastest growth by value and volume during the forecast period. The factors attributed to the high growth of this region are high growth in sales of electric bicycles in the U.S. during the pandemic, increasing investments by shared mobility players in electric scooter companies, decreasing prices of batteries in the U.S., and increasing initiatives by large two-wheeler companies in the U.S. to launch electric two-wheelers. 

The key players operating in the electric scooters and two-wheelers market are Fuji-Ta Bicycle Co., Ltd. (China), Trek Bicycle Corporation (U.S.), Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Riese & Müller GmbH (Germany), Leon Cycles (Germany), Niu Technologies (China), Walberg Urban Electrics GmbH (Germany), myStromer AG (Switzerland), Magnum Bikes (U.S.), Pedego Inc. (U.S.), Aventon Bikes (U.S.), Govecs AG (Germany), Zhejiang Minimotors Bike Co Ltd (China), Zero Motorcycles Inc. (U.S.), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd (India), Energica Motor Company (Italy), Revolt Motors (India), Hero MotoCorp Ltd. (India), and Rad Power Bikes Inc. (U.S.).

TOP 10 COMPANIES IN ELECTRIC SCOOTER MARKET

Scope of the Report

Electric Scooter Market, by Vehicle Type

• Two-wheelers
• E-scooters & Bikes

Electric Scooter Market, by Power Output

• Less Than 3.6kW
• 3.6kW to 7.2kW
• 20kW to 100 kW

Electric Scooter Market, by Battery Technology

• Sealed Lead Acid
• Lithium-ion
• Lithium-ion Polymer

Electric Scooter Market, by Motor Type

• Hub Motors
• Geared Hub Motors
• Gearless Hub Motors
• Mid-drive Motors

Electric Scooter Market, by Charging Type

• Connectors
• Wireless Charging

Electric Scooter Market, by End User

• Government Intuitions
• Academic institutes/Universities
• Business Organizations
• Micromobility Service Providers
• Individuals
• Other End-users

Electric Scooter Market, by Geography

• Asia-Pacific (APAC)
• China
• Japan
• South Korea
• India
• Singapore
• Thailand
• Rest of Asia-Pacific (RoAPAC)
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Netherlands
• Sweden
• Switzerland
• Norway
• Denmark
• Rest of Europe (RoE)
• North America
• U.S.
• Canada
• Latin America
• Middle East & Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5191?utm_source=pr&utm_medium=social&utm_campaign=product&utm_content=26-09-2023