Europe Electric Scooters and Motorcycles Market by Product (Scooter, Low-Powered Motorcycle, High-Powered Motorcycle), by Power (<1.5 kW, 1.5–5 kW, 6–15 kW, >15 kW), by Voltage (48 V, 60 V, 72 V, 100 V & Above), by Cooling System (Natural Convection, Forced Air Convection, Liquid), by Maximum Speed (<40 km/h, 40–80 km/h, >80 km/h), by Battery Type (Sealed Lead Acid, Lithium-Ion), by Charging Time (<4 h, 4–6 h, >6 h), by Range (<50 km, 50–100 km, 101–150 km, >150 km), by Battery Capacity (<1 kWh, 1–2.5 kWh, >2.5 kWh), by Battery Charging Mode (Removable, Non-Removable), by Country (Austria, Belgium, France, Germany, Italy, Netherlands, Spain, Switzerland, U.K.) – Market Size, Share, Development, Growth, and Demand Forecast to 2025
NEW YORK, April 23, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the European electric scooters and motorcycles market is expected to reach $892.4 million by 2025, with a CAGR of 26.2% during the forecast period. The major driving factors for the growth of the market are deployment of electric scooters for sharing services, rising concerns over greenhouse gas emissions, government initiatives, and implementation of stringent emission regulations.
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The rising concerns over greenhouse gas emissions coupled with introduction of several government initiatives is a major factor for the growth of the European electric scooters and motorcycles market. Accelerating rate of environmental degradation caused by greenhouse gas emissions has become a major concern for governments across the world. This has resulted in various government initiatives to reduce carbon emissions on a large scale.
For instance, the Italian government has recently enacted a legislation to provide subsidies on electric scooter purchases, and the scheme is valid through 2019. The government has allocated $11.34 million (EUR 10 million) to support the scheme. Thus, such initiatives by the government to increase the adoption of electric vehicles as an effort to reduce carbon emissions are driving the European electric scooters and motorcycles market.
Based on voltage, the European electric scooters and motorcycles market is classified into 48 V, 60 V, 72 V, and 100 V and above. Among these, electric scooters and motorcycles having battery voltage of 60 V dominated the European market in 2018, accounting for over 40% share in terms of volume. This is mainly due to the growing consumers’ demand for high-speed vehicles, along with durable body and improved aesthetics.
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On the basis of battery type, the European electric scooters and motorcycles market is categorized into sealed lead acid and lithium-ion (li-ion). The electric scooters and motorcycles equipped with li-ion batteries accounted for higher sales volume in the European market in 2018. This is attributed to the rising demand for long-range high-powered two-wheelers, and gradually falling prices of these batteries.
In July 2002, Directive 2002/51/EC, amended Directive 97/24/EC, and Euro 2 and 3 standards were implemented by the European Union for motorcycles. From environmental perspective, the primary objective of these emission standards is to reduce or keep constant emissions from the L-category vehicles. Euro 3 emission rules were implemented in 2016, followed by the implementation of Euro 4 emission standards, which were applied to motorcycles from January 2016 and to scooters from 2017. Since the implementation of Euro 4 standards, the country is focusing on adopting to vehicles with lesser emission. This has led to the growth of the European electric scooters and motorcycles market.
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France held the largest share in the European electric scooters and motorcycles market during the historical period, accounting for over 25% sales volume in 2018. However, Spain is expected to be the largest market for electric scooters and motorcycles in Europe during the forecast period. This is due to the fact that introduction of scooter sharing business is getting popular in major cities of the country and many new players have started their operation in Barcelona as the scooter culture is vibrant in the city.
Some of the major players operating in the European electric scooters and motorcycles market are GOVECS AG, Gogoro Inc., TORROT ELECTRIC EUROPA S.A., Kwang Yang Motor Co. Ltd., unu GmbH, BMW AG, Niu Technologies, Askoll EVA SpA, Zero Motorcycles Inc., Lightning Motors Corp., Alta Motors, Scutum Logistic S.L., emco electroroller GmbH, ETRIX AG, and Piaggio & C. SpA.
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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.
Asia-Pacific Electric Scooters and Motorcycles Market
The ever increasing urbanization in the developing nations of APAC are expected to benefit the sales of the electric scooters and motorcycles in the region during the forecast period. The developing economies like India and China primarily contribute to this rapid urbanization. In general, the travel needs of the population in such economies involve short and frequent rides, which can drive the growth of APAC electric scooters and motorcycles market.
https://www.psmarketresearch.com/market-analysis/apac-electric-scooters-and-motorcycles-market
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