Global Electric Scooter and Motorcycle Market Worth $10,529.7 Million by 2025, says P&S Intelligence

NEW YORK, March 8, 2021 /PRNewswire/ -- Considering the growing rate of environmental degradation, governments around the world are offering tax concessions and purchase subsidies on electric vehicles (EV). As a result, the global electric scooter and motorcycle market size will increase from $5,913.9 million in 2019 to $10,529.7 million by 2025, at a 14.4% CAGR between 2020 and 2025, according to the market research study published by P&S Intelligence. Since these automobiles do not have an internal combustion engine (ICE), they are gaining widespread public support.

These supportive measures are key for the growth of the electric scooter and motorcycle market, as these vehicles are presently more expensive than their gasoline counterparts. Therefore, making them cost-effective is imperative to increase their adoption among the masses, especially in developing countries, such as India and China.

Key Findings of Global Electric Scooter and Motorcycle Market Report

• Demand for electric motorcycles to rise faster than for scooters
• Financial support important for market growth
• Last-mile delivery and ride-hailing services key opportunity areas
• Electric two-wheelers being increasingly bought via online channels
• Automakers launching new electric two-wheeler models
• Europe most-lucrative region for market players

Get the sample copy of this report at @ https://www.psmarketresearch.com/market-analysis/electric-scooter-and-motorcycle-market/report-sample

During the COVID-19 pandemic, the electric scooter and motorcycle market has been affected negatively, as the lockdowns and restrictions on non-essential movement have led to low or no production of automobiles around the world. Moreover, with the widespread economic distress because of salary cuts and unemployment, people are not spending on unimportant things, such as automobiles.

In the coming years, the scooter bifurcation is expected to continue dominating the electric scooter and motorcycle market, on the basis of product. Scooters are already cheaper than motorcycles, and more models of the former are available in the market.

The lithium-ion (Li-ion) bifurcation will witness the higher value CAGR in the electric scooter and motorcycle market, of 23.2%, based on battery type, in the near future. Compared to a sealed lead–acid (SLA) battery, Li-ion variants can carry more charge, therefore offer a longer driving range. In addition, these batteries are lightweight, smaller, and safe to dispose of, and they are also witnessing a fall in their prices.