Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "Europe Electric Scooter Market by Vehicle Type, Power Output, Battery Technology, Motor Type, Charging Type, End User, and Country - Forecasts to 2029" report has been added to ResearchAndMarkets.com's offering.
The European electric scooters market is expected to grow at a CAGR of 24.2% from 2022-2029 to reach $83.94 billion by 2029. By volume, this market is expected to grow at a CAGR of 24.5% from 2022-2029 to reach 35.53 million units by 2029.
The growth of this market is attributed to the increasing adoption of electric motorcycles and e-bikes for short commutes, the rising deployment of electric scooters for ride-sharing services in Europe, and the implementation of stringent emission regulations. Additionally, the rising health awareness among millennials offers lucrative opportunities for the growth of this market.
Based on vehicle type, the electric motorcycles segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to increasing government policies for promoting electric mobility, growing awareness regarding the need to reduce greenhouse gas emissions and environmental pollution, rising demand for electric motorcycles among consumers, increasing gasoline prices, and stringent emission norms.
Two-wheeler manufacturers are increasingly focusing on producing green and environment-friendly vehicles to maintain their stronghold in this dynamic market. Increasing environmental concerns regarding vehicular emissions, depleting fossil fuel reserves, and increasing government efforts to promote electric mobility are driving motorcycle OEMs to produce electric motorcycles. As a result, electric motorcycles are gaining popularity among consumers.
Based on power output, the 3.6 kW to 7.2 kW segment is expected to grow at the highest CAGR during the forecast period. The increasing governments' initiatives towards environmental protection have driven several business sectors, such as e-commerce, food, logistics, and the general population, to transition to eco-friendly transportation, which has exponentially driven the growth of this segment.
Based on battery technology, the lithium-ion polymer battery segment is expected to grow at the highest CAGR during the forecast period. Most electric bike manufacturers prefer the lithium-ion polymer battery and are widely equipped on e-bikes.
Compared to other lithium batteries, the LiPo battery is less expensive and also maintains its performance. LiPo batteries use solid, colloidal polymers or organic electrolytes. LiPo batteries also have other advantages, such as large capacity and fast charging capabilities.
Based on motor type, the hub motor segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its high flexibility and all-wheel-drive capabilities, which provide higher stability. A hub motor includes a wheel with a motor inside of it.
There are two types of hub motors: geared hub motors, which have internal planetary gears to reduce the speed of a higher RPM motor, and gearless hub motors, which have no gearing and directly connect the lower RPM motor stator's axle to the bike. Gearless hub motors have zero moving parts aside from their bearings. Therefore, no components wear out, resulting in easier maintenance.
Based on charging type, the wireless charging segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to its capability to charge the vehicle without physical contact, boost charging speed, and help confront range anxiety.
Wireless charging systems for electric scooters are charging systems that use inductive power transfer technology to transfer power from a pad embedded in the ground to a pad attached to the underbelly of an electric vehicle to charge the vehicle's battery. These pads are either installed in the parking spaces of commercial infrastructures and private garages for charging one vehicle at a time or along a stretch on the road for charging multiple vehicles while they are on the move.
Based on end user, the business organizations segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to government initiatives for faster EV adoption, last-mile transportation, and reducing road congestion.
Based on country, Sweden is slated to register the highest CAGR during the forecast period. Growing consumer interests in adopting EVs over traditional vehicles, the increasing number of projects undertaken by the companies operating in the electric mobility industry, and government support for enhancing EV sales across the country are the factors anticipated to drive the growth of this market in Sweden. Moreover, the Government of Sweden announced its plans to ban diesel-powered vehicles and adopt electric mobility.
Key Questions Answered in the Report:
- Which are the high growth market segments in terms of vehicle type, power output, battery technology, motor type, charging type, end user, and country?
- What is the historical market size for the European electric scooters market?
- What are the market forecasts and estimates for the period 2022-2029?
- What are the major drivers, restraints, opportunities, and challenges in the European electric scooters?
- Who are the major players in the market, and what are their market shares?
- Who are the major players in various countries?
- How is the competitive landscape for the European electric scooters market?
- What are the recent developments in the European electric scooters market?
- What are the different strategies adopted by the major players in the market?
- Which are the high-growth countries in the European electric scooters market?
- Who are the local emerging players in the European electric scooters market, and how do they compete with other players?
Market Dynamics
Drivers
- Increasing Adoption of Electric Motorcycles and E-Bikes for Short Commutes
- Rising Deployment of Electric Scooters for Ride Sharing Services in Europe
- Implementation of Stringent Emission Regulations
Restraints
- High Cost of Electric Two-Wheelers, and E-Scooters & Bikes
- Short Lifespan of Batteries
Opportunities
- Rising Health Awareness Among Millennials
Challenges
- Lack of Regulations in Electric Two-wheelers and Micromobility Space
Company Profiles (Business Overview, Financial Overview, Product Offering, Strategic Developments)
- Energica Motor Company S.p.A. (Italy)
- Yamaha Motor Co. Ltd. (Japan)
- Niu Technologies (China)
- Riese & Muller GmbH (Germany)
- Leon Cycle (Germany?)
- Govecs AG (Germany)
- Walberg Urban Electrics GmbH (Germany)
- my Stromer AG (Switzerland)
- Zero Motorcycles Inc. (U.S.)
- emco electroroller GmbH (Germany)
Scope of the Report:
European Electric Scooters Market, by Vehicle Type
- Electric Motorcycle
- E-scooters & Bikes
European Electric Scooters Market, by Power Output
- Less than 3.6 kW
- 3.6 kW to 7.2 kW
- 20 kW to 100 kW
European Electric Scooters Market, by Battery Technology
- Lithium-ion Battery
- Sealed Lead Acid battery
- Lithium-ion Polymer battery
European Electric Scooters Market, by Motor Type
- Hub Motor
- Gearless Hub Motor
- Geared Hub Motor
- Mid-Drive Motor
European Electric Scooters Market, by Charging Type
- Connector Charging
- Wireless Charging
European Electric Scooters Market, by End User
- Business Organizations
- Micromobility Service Providers
- Individuals
- Academic Institutes/Universities
- Government Institutions
- Other End Users
European Electric Scooters Market, by Country
- Italy
- Germany
- Netherlands
- France
- Poland
- Belgium
- Romania
- Spain
- Greece
- Austria
- Hungary
- Sweden
- Finland
- Slovakia
- Croatia
- U.K.
- Denmark
- Switzerland
- Norway
- Portugal
- Ireland
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/54u1m1
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