NEW YORK, Oct. 16, 2017 (GLOBE NEWSWIRE) -- According to new market research report titled “China Electric Scooters and Motorcycles Market by Product (Scooter, Motorcycle), by Battery Type (Sealed Lead Acid, Li-ion), by Voltage (36V, 24V, 48V), by Technology (by Plug-in, Battery) – Market Size, Share, Development, Growth and Demand Forecast, 2013-2025” published by P&S Market Research, China electric scooters and motorcycles market to reach over $12 billion by 2025.
Increasing pollution awareness among people and growing urbanization are driving the growth of the market. Electric scooters and motorcycles use electric battery for propulsion and do not produce any emissions. Moreover, these electric two-wheelers are virtually silent and do not cause noise pollution. Electric two-wheelers can manoeuvre through congested streets; can be charged from traditional wall outlets and can have a removable battery.
As per the findings of research, lead acid powered electric scooters and motorcycles contributed majority of the industry sales, however, the share of lithium-ion battery powered two-wheelers is expected to grow significantly over the forecast period due to the declining prices of lithium-ion batteries and its advantages over lead acid battery. Electric scooters being simple and smart are best suited for delivery services such as in fast food joints and e-commerce. The demand of electric two-wheelers for delivery services is driving its sales, given the growth of e-commerce and internet penetration in the country. Electric scooters and motorcycles are expected to become a mainstay for such services in future.
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On the basis of voltage, the 36V and 24V batteries powered scooters are the most commonly used in China and together account for majority of industry sales; as these two-wheelers are small and light for easy maneuvering on congested roads. Based on technology, plug-in electric scooters and motorcycles accounted for majority sales during the historic period and it will continue to dominate the country sales over the forecast period.
The growing urbanization in China is expected to benefit the sales of electric two-wheelers in the country over the forecast period. In 2011, population living in the cities in China crossed 50% and by 2030 it is expected that urbanization rate in the country would reach 65%-70%. Due to the growing urbanization, the transport demand from the medium and small cities is increasing. The travel profile in these cities typically involves short and frequent drives, for which electric scooters and motorcycles are most suited. Moreover, with low density of population and ample spaces, the development of charging infrastructure would be relatively easier in small cities compared to the bigger ones.
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The research states that the Chinese electric scooters and motorcycles industry is fragmented, where the top three players, namely Yadea, Aima and Zhejiang Luyuan, together account for less than 30% of sales. The remaining market revenues are shared by many companies in the market each accounting for a small share in sales.
The competition in the market is fierce with many small privately-owned companies trying to gain share in the market. Large number of players has led to cut throat competition in the market, which has been majorly price driven. Due to cost sensitivity of the end user, the companies in the past have offered value of money products at competitive prices. However, nowadays the companies (especially the leading players) have started focusing more on product quality, brand building and after sale services. It is expected that these parameters would gain importance in future and further increase the competition in the market.
Related Research
India Electric Scooters and Motorcycles Market
The research states that the India electric scooters and motorcycles market is consolidated, where Hero Electric has been the leading player in the historic period due to good brand recognition and extensive distribution network. Other important players in India electric scooters and motorcycles market includes Avon, Lohia Auto, and Electro-therm which offers electric scooters with a brand name Yo Bikes. The remaining players in this industry are small and privately-owned companies, such as Ampere Vehicles.
https://www.psmarketresearch.com/market-analysis/india-electric-scooter-and-motorcycle-market
Asia-Pacific Electric Scooters and Motorcycles Market
The Asia-Pacific electric scooters and motorcycles market size valued at $9.1 billion in 2016 and is forecasted to reach $14 billion by 2025, at a CAGR of 4.9%. Asia-Pacific accounts for close to 90% of all electric scooters and motorcycles sold in the world. China is the largest market of electric scooters and motorcycles, accounting for 95% of Asia-Pacific revenues in 2016. While lead acid battery accounts for majority of sales, the share of lithium-ion batteries is expected to increase over the forecast period due to decline in its prices.
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