30.07.2020 Инвестиции

Demand of Electric Scooter and Motorcycle in Market

In the transport sector, efforts are being stepped up to encourage and impel people to adopt clean mobility. This is the primary reason for the growth of the electric scooter and motorcycle market, which is projected to reach $13,864.0 million by 2025, at a 7.3% CAGR during 2018–2025 (forecast period). Being propelled only by an electric motor and battery, instead of an internal combustion engine, burning gasoline or diesel, such two-wheelers release no harmful gases into the environment, which is why governments around the world are pushing for their usage.

Between motorcycles and scooters, the latter account for higher uptake, as they are more cost-effective than the former, and a wide range of scooter models are available around the world. In addition, electric mopeds and scooters are vastly popular among women in Asia-Pacific (APAC), who are increasingly using them for daily chores, such as grocery shopping and dropping and picking up children from schools, and also for commuting to and from work. In the near future, the demand for electric motorcycles would rise faster, as they usually offer a higher speed and driving range than scooters.

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Currently, Asia-Pacific (APAC) is the largest electric scooter and motorcycle market, led by China, where the air pollution levels are exceptionally high. This is why the administration is giving a strong push to clean vehicles, with financial incentives and tax rebates. Same is the case with India, where, as part of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME II) scheme, the government has invested $1,460 million (INR 10,000 crore) to bring 1,500,000 electric vehicles on the roads by March 2022.

Thus, with people doing their bit for the environment, and ultimately, themselves, the sale of electric scooters and motorcycles is set to skyrocket in the coming years.