Home › News Updates › Nikkei Asia mentions MarketsandMarkets in their Article on Swappable Electric Motorcycle Batteries
Nikkei Asia mentioned MarketsandMarkets in their recent news article on Japan’s Big Four, Honda Motor, Yamaha Motor, Kawasaki Heavy Industries, and Suzuki Motor, who will soon develop standardized interchangeable batteries for their electric motorcycles, as the wave of decarbonization is spreading to two-wheeled vehicles.
In a recent article on the standardization of swappable motorcycle batteries, Nikkei Asia cited MarketsandMarkets study on the global market for electric scooters and motorcycles. According to MarketsandMarkets analysis, the global electric scooter and motorcycle market is projected to grow from 861 thousand units in 2020 to 5,948 thousand units by 2027, growing at a CAGR of 31.8%. Factors such as growing demand for energy-efficient commuting and governments supporting electric two-wheelers through subsidies & tax rebates have compelled two-wheeler OEMs to explore beyond the use of conventional internal combustion engines (ICE) in two-wheelers. The Big Four roughly account for half of the global market share for motorcycles. This move is likely to provide a significant boost to the adoption of electric scooters and motorcycles globally. In addition, the companies also plan to standardize chargers along with the batteries.
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Electric Scooter and Motorcycle Market by Vehicle Type (E-Scooter/Moped & E-Motorcycle), Battery (Sealed Lead Acid & Li-Ion), Distance Covered, Voltage (36V, 48V, 60V & 72V), Technology (Plug-in & Battery), Vehicle Class, Region - Global Forecast to 2027
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