Global Electric Motorcycle Market Growth Is Expected To Be Driven By Increasing Demand For Environment-Friendly Vehicles
Pune, Maharashtra, Jun 05, 2019 (Wired Release) Prudour Pvt. Ltd. – Electric two-wheelers are powered by lead-acid battery or lithium ion batteries. It includes both electric motorcycles and electric scooters. Speed of electric scooter is relatively less than electric motorcycle. The electric motorcycles are categorized into 48V, 24V, 36v and are also available in more voltages like 60V and 72V. The speed of electric motorcycle and scooters are range from 30 km/hr to 70 km/hr. Electric motorcycles are rechargeable by plugging into ordinary wall outlets, usually it takes around eight hours to charge.
Electric motorcycles are built with strong metallic and fiber frames coupled with various mechanical and electronic components and engine. Similarly, electric scooters are also two-wheeler vehicles build with metallic or fiber bodies, along with footboard on which riders rest their feet. Piaggio Vespa, TVS Jupiter and Aprilla SRV 850 are some common examples of scooters.
Increasing carbon emission by burning fuel on roads is a great environment and government concern resulting in increasing demand for electric vehicles (EV) and their adoption across the globe. Various governments across the globe consider electric scooter and motorcycle as efficient and reliable type of light motor vehicles (LMVs) in order to reduce carbon footprints on environment. High manufacturing cost of electric vehicle is a challenging factor for electric motorcycle market.
Electric motorcycle is categorized into electric motorcycle and electric scooter types. The electric scooters are majorly preferred type of electric motorcycle among consumers, owing to availability and lower-cost features.
Electric motorcycle is used across various age group applications such as 14 yrs, 14-35 yrs, 36-60 yrs, and 60 yrs. According to various government laws above 16 years is a legal age criterion for the license of electric scooter.
Food and beverage outlets are rapidly growing across the globe and increasing demand for electric scooters and motorcycles as cost-effective, low maintenance, and environment-friendly option to replace traditional delivery vehicles. Maintenance and servicing costs are also low as compare to fuel-based motor vehicles.
Increasing number of solar powered and automated charging stations across various places worldwide are expected to create lucrative opportunities for EV providers in order to design such charging stations to widen the horizons of EV-based transportation. Innovative product launches along with technological advancements and increasing joint ventures, acquisitions and merger strategies by major players in order to expand their presence across the globe.
The global electric motorcycle market valued at US$ XX.X Mn in 2018, and is projected to increase at a significant CAGR of XX.X% over the next 10 years and value at US$ XX.X Mn in 2028.
Strong production and adoption of electric motorcycle across various countries such as China, India, Indonesia, and Japan can lead to increasing demand for electric motorcycle to a significant extent.
In North America, increasing investments for research and development and competitive programs in order to encourage manufacturers to develop innovative products and rising government initiative towards increasing awareness of such products resulting in rising adoption rate of electric motorcycle in the years to come.
Some of the major players operating and profiled in the global electric motorcycle market report include Yadea, AIMA, Lvyuan, and Sunra.