Electric Scooter and Motorcycle Market

Yadea Group Holdings Ltd. (China) and NIU International (China) are the Key Players in the Electric Scooter and Motorcycle Market

The global electric scooter and motorcycle market size is projected to reach 5,948 thousand units by 2027, from an estimated 861 thousand units in 2020, at a CAGR of 31.8%. The base year for the report is 2019, and the forecast period is from 2020 to 2027. The rising cost of fuel will likely to shift the focus from ICE two-wheelers to efficient & emission-free electric two-wheelers, thereby, fuelling the demand for E-Scooters and E-Motorcycles during the forecast period.

The recent developments in the electric two-wheeler market have introduced batteries with improved specifications that are said to be the heart of any electric two-wheeler. These advancements in batteries are expected to increase the performance and range of electric vehicles. The range is one of the most important reasons that users are still a bit hesitant to prefer electric two-wheelers over ICE two-wheelers. However, government bodies are working with manufacturers to provide the necessary charging infrastructure network. Because of all these benefits, electric two-wheelers are considered to be the future of the two-wheeler industry.

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The electric scooter and motorcycle market is dominated by players such as Yadea Group Holdings Ltd. (China), Jiangsu Xinri E-Vehicle Co., Ltd. (China), NIU International (China), Silence Urban Ecomobility (Spain), and Hero Electric (India). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth electric scooter and motorcycle market.

Yadea Group is one of the leading players in the electric scooter and motorcycle market. Yadea Group is the largest producer of electric scooters and motorcycles in China. Apart from China, it has a presence in more than 80 countries worldwide. With seven production facilities globally, the company is involved in the design, R&D, manufacturing, and sale of electric scooters and motorcycles. It claims to have more than 600 patents, including invention, utility, and design patents. Additionally, in November 2019, Yadea Group established its production facility in Vietnam. The production capacity of the facility, spread across 20,724 square meters, is around 200,000 units per annum. In July 2019, Yadea Group unveiled its Graphene batteries for electric two-wheelers. These batteries have a long life as well as faster charging options compared to most batteries being used globally.

NIU is another renowned player in this market. The company is continuously delivering new advanced electric scooter models. The company has a strong geographical footprint with a presence in more than 38 countries across the globe. It claims to have sold over 1 million electric scooters worldwide since its establishment in 2014. In May 2020, NIU International announced the first-ever virtual launch of its all-new MQi2 for the Chinese market. In January 2020, NIU International introduced two new electric two-wheelers, RQi-GT & TQi-GT, at the Consumer Electronics Show 2020 in Las Vegas (US). In August 2018, NIU International collaborated with Bosch to develop a variety of electric motors that are both high-performance and efficient. Bosch motors are available on NIU’s entire line up of smart e-scooters. NIU International also designed NIU motors that are both energy- and cost-efficient.

Jiangsu Xinri, Hero Electric, Luyuan, Okinawa, Vmoto, Energica, Zero Motorcycles, GOVECS, Silence Urban Ecomobility, Askoll, and Gogoro are some of the other players in this market. In December 2019, Sunra introduced its high-end electric scooter, ROBO. Its powerful performance is one of the highlights of this scooter. ROBO also passed EEC certification with two speed versions: 45 km/h (27.96 mph) and 80 km/h (49.7 mph). In May 2019, Silence Urban Ecomobility opened its first flagship store in Luxembourg, which was also the first store in Europe for the company. In October 2020, Hero Electric launched three new electric scooters under its City Speed series—Nyx-HX, Optima-HX, and Photon-HX. In April 2019, To accelerate its growth in the European market, Vmoto inked several exclusive distribution agreements with companies throughout the region. During the March quarter, distribution deals were made with local companies in Croatia, Estonia, Latvia, Lithuania, France, Hungary, Malta, Serbia, Kosovo, Montenegro, Bosnia & Herzegovina, Macedonia, and Albania.

Related Reports:

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

Mr. Aashish Mehra
MarketsandMarkets™ INC.
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