NEW YORK, March 11, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, North American electric scooters and motorcycles market is likely to reach $675.7 million by 2024, with a CAGR of 28.4%. Emergence of electric scooter sharing fleet, government policies and incentives, development in battery technology, and low maintenance cost are the key factors driving the growth of the market.
Request to get the sample pages of the report: https://www.psmarketresearch.com/market-analysis/north-america-electric-scooters-and-motorcycles-market/report-sample
Emergence of electric scooter sharing fleet is responsible for the growth of the North American electric scooters and motorcycles market. Many new sharing service providers have started to deploy electric scooters and kick scooters in their fleet. Further, the availability of smart charging stations and application of these vehicles in food and beverages delivery services are opening up new opportunity for the growth in the market.
On the basis of battery, the North American electric scooters and motorcycles market is categorized into lead acid- and li-ion-based electric scooters and motorcycles. Of these, the li-ion battery-based electric scooters and motorcycles dominated the market during the historical period and is expected to continue dominating the market during the forecast period. Falling prices of li-ion batteries, coupled with their inherent advantages such as lightweight, small size, high energy density, low maintenance, and low self-discharge over other batteries are expected to benefit the market during the forecast period.
Browse report overview with detailed TOC on "North America Electric Scooters and Motorcycles Market" at: https://www.psmarketresearch.com/market-analysis/north-america-electric-scooters-and-motorcycles-market
Based on application, the North American electric scooters and motorcycles market is classified into sharing services, food and grocery, and personal users. Among these, sharing service application is expected to be the largest category during the forecast period. This is because the sharing service makes customers free from hassles involved in owning their own vehicles and it offers easy commuting for short distances.
Growing importance for environment-friendly transportation systems in order to reduce greenhouse gas (GHG) emissions is one of the major factors enabling governments to support the sales of electric scooters and motorcycles. The support is provided by offering several incentives and tax credits to customers at the time of purchase of these vehicles, which trigger the growth of the North American electric scooters and motorcycles market. Selected regions, states, and cities provide incentives for buying electric motorcycles. For instance, in 2017, the Government of California offered 10% federal tax credit for the purchase of electric motorcycle, up to $2,500, in that year. Also, Clean Vehicle Rebate Project (CVRP) promotes adoption of clean vehicles in California by providing rebates of up to $900 for the purchase of electric motorcycle in the state.
Make enquiry before buying the report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=north-america-electric-scooters-and-motorcycles-market
The U.S. was larger market for these vehicles, in terms of volume, contributing close to 85% share to the North American electric scooters and motorcycles market in 2018. Factors driving the growth of the market in the U.S. are faster adoption of electric vehicles (EVs) in the country, support by the government in form of financial and non-financial incentives for the procurement of these vehicles, and high commuter base.
The major players operating in the market are 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., and Alta Motors.
More Related Reports by P&S Intelligence
Electric Scooter and Motorcycle Market
Globally, APAC led the electric scooter and motorcycle market during the historical period and the region is expected to continue leading the market in the coming years as well. The growth of the market in APAC is due to rapid urbanization and increase in household incomes, which are attracting consumers to replace their fuel-driven two-wheelers with the electric variant. China, Japan, and India are the major electric two-wheeler markets in APAC. The government subsidies are the major factor for the consumers to buy electric two-wheelers in the developing economies of APAC region, such as China and India.
https://www.psmarketresearch.com/market-analysis/electric-scooter-and-motorcycle-market
India Electric Scooters and Motorcycles Market
India electric scooters and motorcycles market is projected to reach $617.7 million by 2025. Increasing pollution awareness among people and increasing government support in the form of subsidies are the key factors driving the growth of the market.
https://www.psmarketresearch.com/market-analysis/india-electric-scooter-and-motorcycle-market
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com