North America Electric Scooters and Motorcycles Market, 2015-2018 & 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 15, 2019--
The “North America Electric Scooters and Motorcycles Market by Type, by Battery Capacity, by Battery, by Application, by Geography Market Size, Share, Development, Growth, and Demand Forecast, 2015-2024” report has been added to ResearchAndMarkets.com’s offering.
The North America scooters and motorcycles market is projected to value $675.7 million by 2024, advancing at a CAGR of 28.4% during the forecast period (2019-2024)
The major factors driving the growth of the market are the introduction of electric scooter sharing fleets, enhancement in battery technology, government incentives and policies, and low maintenance cost of such vehicles.
The emergence of electric scooter sharing fleets is behind the growth of the North American scooters and motorcycles market. Many sharing service providers are starting to add kick scooters and electric scooters in their fleet. Further, with the easy availability of smart charging stations and increasing application of scooters and motorcycles in food and beverage delivery services, the market is expected to grow steadily during the forecast period.
Based on battery, the North American electric scooters and motorcycles market is classified into Li-ion and lead-acid. Of these, during the historical period, the Li-ion classification dominated the market and is predicted to further continue dominating it during the 2019-2024 period. This is attributed to the reducing price of Li-ion batteries, along with their benefits such as small size, low weight, low maintenance, high energy density, and low self-discharge, as compared to the other battery type. Thus, these benefits are expected to escalate the demand for electric scooters and motorcycles with Li-ion batteries in the market during the forecast period.
On the basis of application, the electric scooters and motorcycles market in North America is categorized into food and grocery, sharing services, and personal users. Out of these, the sharing service category is predicted to dominate the market in terms of sales volume during 2019-2024 period. This is ascribed to the easy availability of vehicles for commuting short distances without people having to own these themselves.
One of the major factors driving the growth of the market is the increasing concern for environmental degradation, resulting in the need to reduce greenhouse gas emissions from vehicles. The surging concerns are pushing governments to take some initiatives to reduce the emissions. Governments are coming up with several incentives and tax credits, offered to customers, on the purchase of these vehicles, which back the growth of the North American electric scooters and motorcycles market. For instance, in 2017, the California government provided 10.0% federal tax credit (up to $2,500) on the purchase of electric motorcycles.
In terms of volume, in 2018, the U.S. held the larger share of nearly 85.0% in the North American electric scooters and motorcycles market. The factors responsible for the market growth in the U.S. are rapid adoption rate of electric vehicles, increasing government support in the form of financial and non-financial incentives on the purchase of these vehicles, and a high commuter base.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
184.108.40.206 Kick scooter
4.1.2 By Battery Capacity
220.127.116.11 < 5 kWh
18.104.22.168 5-10 kWh
22.214.171.124 10-15 kWh
126.96.36.199 >15 kWh
4.1.3 By Battery
188.8.131.52 Lead acid
4.1.4 By Application
184.108.40.206 Sharing services
220.127.116.11 Food and grocery
18.104.22.168 Personal users
4.2 Value Chain Analysis
4.3 Market Dynamics
22.214.171.124 Development in battery technology
126.96.36.199 Increasing investment and acquisition in the electric two-wheeler industry
188.8.131.52 Government incentives and federal tax credits
184.108.40.206 Emergence of electric scooter sharing fleet
220.127.116.11 Low maintenance
18.104.22.168 Impact analysis of drivers on market forecast
22.214.171.124 Lack of clarity on operational guidelines for electric kick scooters
126.96.36.199 High purchase cost
188.8.131.52 Impact analysis of restraints on market forecast
184.108.40.206 Availability of smart charging stations
220.127.116.11 Food and beverages delivery
4.4 Porter’s Five Forces Analysis
Chapter 5. North America Market Size and Forecast
5.1 By Type
5.2 By Battery Capacity
5.3 By Battery
5.4 By Application
5.5 By Country
Chapter 6. U.S. Market Size and Forecast
Chapter 7. Canada Market Size and Forecast
Chapter 8. Competitive Landscape
8.1 Market Share Analysis of Key Players
8.2 Competitive Benchmarking of Key Players
8.3 Product Benchmarking of Key Players
8.4 North America Strategic Developments of Key Players
8.4.1 Mergers and Acquisitions
8.4.2 Product Launches
8.4.3 Client Wins
8.4.4 Other Development
Chapter 9. Company Profiles
- KTM North America Inc.
- Razor USA LLC
- Segway Inc.
- TORROT ELECTRIC EUROPA S.A.
- Zero Motorcycles Inc.
- Mahindra GenZe
- Energica Motor Company S.p.A.
- Alta Motors
For more information about this report visit https://www.researchandmarkets.com/r/sex85j
View source version on businesswire.com:https://www.businesswire.com/news/home/20190515005443/en/
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Related Topics:Motorcycles,Electric and Hybrid Vehicles
KEYWORD: NORTH AMERICA
INDUSTRY KEYWORD: ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 05/15/2019 06:56 AM/DISC: 05/15/2019 06:56 AM