New Advancements in Electric Scooter and Motorcycle Technology Propel the Industry Forward, says Market.us
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Electric two-wheelers that run on electricity will have a lower operating cost and higher efficiency than traditional vehicles. Because they wear less and friction is less, electronic systems are more durable and efficient than mechanical models. Electric two-wheelers last longer than fuel-powered vehicles and have a lower environmental impact.
According to Market.us, “The Global Electric Scooter and Motorcycle Market is projected to be USD 21.09 Bn in 2021 to reach USD 69.84 Bn by 2032 at a CAGR of 11.5%.”
Anurag Sharma, a senior research analyst at Market.us, said, “The rising prices of petroleum products is one of the main factors that drive the market for electric scooters and motorcycles. The primary driver of the electric scooter and motorbike market is the rising price of petroleum products. The rising cost of petrol is already affecting consumers from emerging countries.”
As there is increasing awareness about the dangers of using fossil fuel-powered vehicles, many governments are promoting electric bikes and scooters to reduce carbon emissions.
Adoption of E-scooters is on the Rise
According to vehicle type, the escooter/moped segment accounted for the largest share of the global electric scooter and motorcycle market in 2021. This is due to the popularity of electric scooter sportbikes among young people because of their stylish look and performance.
The cost of electric scooters and motorcycles is lower than those of cars and they don’t require a license.
Governments offer subsidies to encourage environmentally-friendly vehicles that emit low emissions. These supportive measures have contributed to the growth in the adoption of electric scooters and bikes by people around the world.
The fastest-growing segment in the e-motorcycle market is e-motorcycles. Manufacturers had previously focused on developing e-scooters/mopeds due to their compatibility with electric propulsion system. Unfortunately, these vehicles have limited range and performance; therefore they only serve short distance commuting needs. With e-motorcycles users can use them for various purposes such as cruising, racing and commute which will further increase demand for them.
The key barriers to the growth of electric scooters/motorcycles are poor performance, a lack of charging infrastructure and strict rules for installing charging stations.
E-scooters have been introduced in phases through several pilot programs to reduce city vehicle emissions.
- November 2022 – Vegh Automobiles launches VEGH S60 electric scooter. It will take 3 to 4 hours for the scooter to fully charge and will reach speeds of 60 to 70 km/hr.
- November 2022: Ola Electric introduced their cheapest electric scooter Ola S1Air for INR 799999 (USD 1000) in India. Available for retail in five colors: Black.
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