September 14, 2021
According to the business intelligence report titled ‘Asia Pacific Electric Motorcycles & Scooters Market Forecast 2026 By Battery, By Product, By Voltage, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, Asia Pacific electric motorcycles & scooters market is slated to expand substantially between 2021-2026 with its valuation crossing USD 39 billion by 2026.
Increasing urbanization in China & Japan, rising air pollution, and growing awareness regarding adoption of alternate fuels are the key factors stimulating Asia Pacific electric motorcycles & scooters market expansion.
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Furthermore, subsidies and favorable schemes by governments across Asian economies to encourage adoption of EVs is enhancing the market revenue. Citing an example, in March 2019, the Indian government announced its plan to implement the FAME II scheme to boost EV production in the economy.
Advantages offered by e-scooter such as ease of maintenance, lower operating costs, and Bluetooth and GPS integration along with financial assistance offered by manufacturers will continue to facilitate industry growth in the upcoming years.
While supply chain disruptions affected raw material supply of electric motorcycles & scooters industry in Asia Pacific amid the COVID-19 pandemic, the business sphere is regaining strength due to vaccination drives and subsequent easing of restrictions on manufacturing.
Geographically speaking, China market is projected to grow considerably between 2021-2026 owing to presence of a large number of manufacturers and vendors, widespread adoption of electric scooters by restaurants, food outlets, and the local police department, and increasing consumer inclination towards electric-powered motorbikes.
Meanwhile, India market is anticipated to record significant expansion during the forecast period due to increasing launches of new models by several players. For instance, Bengaluru-based electric vehicle company Ather Energy will launch a new e-vehicle soon. Also, the Honda Benly e-scooter will be unveiled in the Indian market soon. Likewise, Gurgaon-based startup Okinawa Scooters, in May 2021, announced its plans to manufacture over 1 million scooters annually.
Key players formulating the competitive landscape of Asia Pacific electric motorcycles & scooters market sphere are Zero Motorcycles Inc., AIMA Technology Group Co. Ltd., Z Electric Vehicle Corporation, Amego Electric Vehicles Inc., Yamaha Motor Co. Ltd., Ampere Vehicles Pvt. Ltd., Bayerische Motoren Werke AG, Volvo Construction Equipment, Cake ZeroEmission AB, Vmoto Ltd., Energica Motor Company SpA, Govecs Group, Terra Motors Corporation, and Harley-Davidson Inc. among others.