Business impacts of COVID-19 on Electric Scooter and Motorcycle Market

-

In the transport sector, efforts are being stepped up to encourage and impel people to adopt clean mobility. This is the primary reason for the growth of the electric scooter and motorcycle market, which is projected to reach $13,864.0 million by 2025, at a 7.3% CAGR during 2018–2025 (forecast period). Being propelled only by an electric motor and battery, instead of an internal combustion engine, burning gasoline or diesel, such two-wheelers release no harmful gases into the environment, which is why governments around the world are pushing for their usage.

Between motorcycles and scooters, the latter account for higher uptake, as they are more cost-effective than the former, and a wide range of scooter models are available around the world. In addition, electric mopeds and scooters are vastly popular among women in Asia-Pacific (APAC), who are increasingly using them for daily chores, such as grocery shopping and dropping and picking up children from schools, and also for commuting to and from work. In the near future, the demand for electric motorcycles would rise faster, as they usually offer a higher speed and driving range than scooters.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/electric-scooter-and-motorcycle-market/report-sample

These two-wheelers have either a sealed lead–acid (SLA) battery or a lithium-ion (Li-ion) battery. Of these, vehicles with SLA batteries have witnessed high sales, as they are cheaper than those with Li-ion energy storage devices. However, in the last few years, the purchase cost of Li-ion batteries has come down significantly, which is expected to help raise the adopted of two-wheelers powered by them. Moreover, such batteries offer a higher energy density than their SLA counterparts, which is why they are lighter than a similarly rated SLA battery.

Make Enquiry for the Report@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=electric-scooter-and-motorcycle-market

Currently, Asia-Pacific (APAC) is the largest electric scooter and motorcycle market, led by China, where the air pollution levels are exceptionally high. This is why the administration is giving a strong push to clean vehicles, with financial incentives and tax rebates. Same is the case with India, where, as part of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME II) scheme, the government has invested $1,460 million (INR 10,000 crore) to bring 1,500,000 electric vehicles on the roads by March 2022.

Thus, with people doing their bit for the environment, and ultimately, themselves, the sale of electric scooters and motorcycles is set to skyrocket in the coming years.

Comments

Post a Comment

Popular posts from this blog

How the Asia-Pacific Electric Car Market Has Witnessed Substantial Growth in Coming Years?

-
Image
As the air quality deteriorates and the prevalence of various lung diseases increases in the Asia-Pacific (APAC) region, the attention of governments, regulatory authorities, policymakers, and citizens is finally shifting toward the elephant in the room, that is, the large-scale usage of fossil-fuel-powered vehicles for both personal commuting and transportation of goods. The harmful emissions released from these vehicles are one of the major causes of air pollution and the rapid environmental degradation. To combat the situation and make the air in urban areas breathable again, governments of several APAC countries are implementing policies aimed at promoting the deployment of eco-friendly modes of transport, such as electric cars. This is, in turn, fueling the advancement of the Asia-Pacific electric car market. For instance, as per industry experts, sales of electric vehicles grew in India by 32.0% or from nearly 576,000 units in 2018 to more than 760,000 units in 2019, among w
Read more

India Shared Mobility Market 2021 to Witness Stunning Growth

-
Image
Due to the rapid environmental degradation because of the extensive usage of fossil fuel-powered vehicles, the government is increasingly implementing policies aimed at encouraging the adoption of shared mobility solutions in India. Moreover, the government is providing various financial incentives for promoting the adoption of these solutions in the country. For example, under the faster adoption and manufacturing of (hybrid) and electric vehicles (FAME) II scheme, the government launched initiatives for augmenting the deployment of electric vehicles for commercial purposes.  These initiatives are propelling the deployment of electric vehicles and their adoption by various shared mobility service providers in the country. Apart from this factor, the increasing road congestion, especially in the urban areas, on account of the booming population levels and the surging number of daily commuters, is also pushing up the demand for shared mobility solutions in India. Different companies are
Read more

India Automotive HMI Market Development, Growth, and Demand Forecast, 2013-2023

-
Image
The major factors behind the India automotive human machine interface (HMI) market growth are rising sales of passenger car, increasing in-vehicle connectivity, and growing demand for comfort and in-vehicle safety features. The market generated a revenue of $466.9 million in 2017, and it is predicted to reach $1.0 billion by 2023, witnessing a CAGR of 14.1% during the forecast period 2018–2023, according to P&S Intelligence. Automotive HMI includes multiple system that permits drivers to interact with their vehicles. It works with the human touch, voice commands, and body language. Benefits associated with multimodal HMI, such as better recognition and faster interaction, are expected to increase their penetration in passenger cars. Further based on end-use, the Indian automotive HMI market is categorized into economy, medium, and premium cars. Due to the rising HMI deployment in medium car category, these cars held the largest sales volume share in the market and is forecasted to
Read more