North America Electric Motorcycles & Scooters Market to Hit USD 1 Billion Valuation By 2026

September 14, 2021

According to the research report titled ‘North America Electric Motorcycles & Scooters Market Forecast 2026 By Product, By Battery, By Voltage, Research Report, Regional Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Report, North America electric motorcycles & scooters market is projected to reach a valuation of USD 1 billion by the end of the forecast period.

As per the report findings, North America electric motorcycles & scooters market is recording strong growth owing to government initiatives towards the establishment of a robust EV charging infrastructure and promoting adoption of EVs.

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Citing an instance, the Canadian government, in April 2021, announced the allocation of over USD 370 million for the deployment of public and domestic EV chargers across the country. Whereas, the U.S. government has been offering a USD 1,000 grant Across California on purchasing new electric vehicles. Such grants, subsidies, incentives, and investments will continue to expand the business horizon in the upcoming years.

Further, rising disposable income and subsequent rise in purchasing power of people across the U.S. and Canada are significantly adding to the revenue of electric motorcycles & scooters industry in North America.

Elaborating on the Covid-19 impact, shutdown of production plants in 2020 plunged revenues of manufacturers, however, the gradual recovery of several economies has ensured a steady comeback for EV companies.

Based on product type, electric scooters are pulling the industry demand share from the electric motorcycles as they offer benefits like compact footprint, easy maneuverability, lower maintenance costs, and reduced weight.

Considering battery, the market is split into SLA and Li-ion. Experts cite that Li-ion segment is anticipated to continuing recording strong growth through 2027. This can be ascribed to benefits like short charging cycles during replacements, superior capacity, and large mean time during failures. Moreover, easy replaceability of these batteries lowers operating and maintenance costs.

By voltage, North America electric motorcycles and scooters market size from 48V segment is showcasing strong growth trends. Higher performance in line with exceptional power output especially to short-range EVs are driving the adoption of 48V-rated batteries.

Key players influencing the industry trends are Amego Electric Vehicles, BMW AG, Cake 0 Emission AB, Harley-Davidson Inc., KTM AG, Lightning Motorcycle Corp., Volvo, Z Electric Vehicle Corp., and Zero Motorcycles Inc. among others.

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