Dublin, June 23, 2023 (GLOBE NEWSWIRE) -- The "Electric Mobility Market Size, Share & Trends Analysis Report 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global electric mobility market size is expected to reach USD 325.64 billion by 2030, growing at a CAGR of 14.6% over the forecast period. Rise in substantial operating and maintenance cost savings is expected to significantly increase the demand for electric mobility thereby supporting the market growth. Furthermore, growing concerns about the rapidly rising carbon footprint and greenhouse gases from the transportation and automotive industries are encouraging state and country-level regulatory bodies to set up policies that promote the adoption of energy-efficient vehicles.
The rise in government investments along with stringent regulations, objectives, and policies for electric vehicle deployment, signaling OEMs and other industry stakeholders who actively participate in the industry and building confidence based on mobilizing investments and policy frameworks is fueling the growth of the electric mobility industry.
For instance, in December 2022, the Uttar Pradesh government in India targeted to invest 300 million in electric transportation. The state's UP Electric Vehicle Manufacturing and Mobility Policy 2022 aims to attract new investment and create 1 million new jobs in the sector. Meanwhile, the new strategy has attempted to address the three key issues: stimulating the manufacture of e-vehicles and their components, such as batteries, and creating a solid network of charging stations and battery swap locations.
Electric vehicles depend on electricity to replenish their batteries rather than using fossil fuels such as petrol or diesel. With the increasing number of EV battery charging stations emerging, it is now more convenient for consumers to charge their batteries at a local station rather than stand in line at a CNG station or a gas station. For instance, In May 2022, Energica Motor Company, a manufacturing company, launched a new e-bike named Energica Experia. The e-bike featured the company's no-emission EV technology. These factors are expected to drive the electric mobility market growth over the forecast period
Some dominant players in the U.S. electric mobility industry are BMW Motorrad International; Gogoro, Inc.; Honda Motor Co. Ltd.; KTM AG; Mahindra Group; Ninebot Ltd.; Suzuki Motor Corporation; Terra Motors Corporation; Vmoto Limited ABN; Yamaha Motor Company Limited. These players focus on new product launches and partnerships & collaboration to enhance their offerings and geographic presence. For instance, In June 2022, iFood, an online food ordering and delivery platform based in Brazil, launched the EVS Work iFood electric motorcycle in collaboration with Voltz Motors, a startup manufacturer of e-scooters and e-motorcycles based in Brazil, for USD 2,099.9.
Electric Mobility Market Report Highlights
- Based on product, the electric bike segment is expected to dominate the global market owing to the factors such as the expansion of cycling infrastructure in developing countries such as India and the rise of financial incentives for e-bike sales
- Based on drive, the chain drive segment dominated the market with 46% of the revenue share in 2022. The growing amount of construction activities driven by rapid industrialization is driving the segment's growth
- Based on battery, the Li-ion battery segment accounted for 82% of the revenue share in 2022 owing to the benefits such as a decrease in the amount of toxic oil waste generated, the need for engine maintenance, and the pollution caused by fuel combustion engines
- Based on end-use, the personal segment accounted for 76% of the revenue share in 2022. The segment's growth can be attributed to the rising sales of electric two-wheelers as more customers choose electric transportation for both commuting and relaxation
- Prominent industry participants include BMW Motorrad International; Gogoro, Inc.; Honda Motor Co. Ltd.; KTM AG; Mahindra Group; Ninebot Ltd.; Suzuki Motor Corporation; Terra Motors Corporation; Vmoto Limited ABN; Yamaha Motor Company Limited.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 164 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $109.23 Billion |
| Forecasted Market Value (USD) by 2030 | $325.64 Billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. Information procurement
1.4. Information analysis
1.5. Market formulation & data visualization
1.6. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Electric Mobility Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Electric Mobility Market - Value Chain Analysis
3.3. Electric Mobility Market - Market Dynamics
3.4. Market Analysis Tools
Chapter 4. Electric Mobility Market Product Segment Analysis
4.1. Electric Bikes
4.2. Electric Scooters
4.3. Electric Motorized Scooters
4.4. Electric Motorcycles
Chapter 5. Electric Mobility Market Drive Segment Analysis
5.1. Belt Drive
5.2. Chain Drive
5.3. Hub drive
Chapter 6. Electric Mobility Market Battery Segment Analysis
6.1. Lead Acid
6.2. Lithium Ion
6.3. Other
Chapter 7. Electric Mobility Market End-use Segment Analysis
7.1. Personal Use
7.2. Commercial Use
Chapter 8. Electric Mobility Market Regional Analysis
8.1. North America
8.2. Europe
8.3. Asia Pacific
8.4. Latin America
8.5. MEA electric mobility market, by product, 2018 - 2030 (USD Million)
8.6. MEA electric mobility market, by drive, 2018 - 2030 (USD Million)
8.7. MEA electric mobility market, by battery, 2018 - 2030 (USD Million)
8.8. MEA electric mobility market, by end-use, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
9.1. Company Categorization
9.2. Company Market Positioning
9.3. Company Ranking Analysis, 2022
9.4. Strategy Mapping
9.5. Company Listing (Overview, Financials, Product Portfolio)
8.5.1 BMW Motorrad International
8.5.2 Gogoro, Inc.
8.5.3 Honda Motor Co. Ltd.
8.5.4 KTM AG
8.5.5 Mahindra Group
8.5.6 Ninebot Ltd.
8.5.7 Suzuki Motor Corporation
8.5.8 Terra Motors Corporation
8.5.9 Vmoto Limited
8.5.10 Yamaha Motor Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/m2cn8e
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