Rising popularity of electric two-wheelers driven by affordability, convenience, and eco-friendliness, the global Electric Scooter Motor market is poised for robust growth. According to a report by MarketsandMarkets, the industry is projected to expand from $ 416.0 million in 2024 to $ 1,201.2 million by 2030, reflecting an impressive CAGR of 19.3%.
Enhanced motor technology, which improves efficiency, power output, and durability, is further boosting adoption among manufacturers and consumers. Government incentives and supportive policies, including subsidies, tax benefits, and infrastructure development, are significantly contributing to the demand for electric scooter motors.
Electric motorcycles offer a cleaner, cost-effective mode of transport, powered by electric motors and rechargeable batteries, eliminating the need for gasoline and reducing emissions. Technological advancements in battery and motor efficiency ensure quick torque delivery, smooth acceleration, and quiet operation, enhancing the riding experience.
Electric bikes are also more economical to maintain than their gasoline counterparts, making them a preferred choice among cost-conscious and eco-aware consumers. Initially, only a few manufacturers produced electric motorcycles, but the segment has witnessed increased interest from established brands like Ola Electric, Niu International, Vmoto, Harley Davidson, and KTM.
The entry of these major players has led to improved range, speed, and performance, stimulating further market expansion. The market's trajectory is also shaped by chain drive systems, known for their strength and reliability. These systems efficiently transmit power from the motor to the wheels, making them ideal for handling heavy loads and navigating varied terrains, key considerations for electric scooters and motorcycles designed for longer commutes. Consequently, OEMs in regions like China and India are making significant investments to develop electric scooters suited for these markets. For instance, NIU’s upcoming NIU RQi Sport aims to be an urban performance motorcycle, equipped with a 5 kW mid-mounted motor and chain drive, set for release in late 2024.
Europe, home to key industry players like Robert Bosch GmbH, MAHLE GmbH, Vitesco Technologies, and Saietta Electric Drive, is expected to be the second-largest market for electric scooter motors during the forecast period. The region’s automotive sector is actively transitioning toward electric two-wheelers in response to rising environmental concerns and emission regulations. The adoption of diverse motor configurations, such as hub motors for simplicity and mid-drive motors for superior torque, is driving demand by catering to varying performance needs. Innovations in motor technology are enhancing efficiency, speed, and performance, which further boost market growth.
The report emphasises the strategic benefits of investing in this market, providing stakeholders with revenue approximations, insights into competitive landscapes, and guidance on market positioning. It also outlines the critical factors driving growth, such as increasing sales of electric scooters, technological advancements, and the shift towards high-performance motors for premium electric two-wheelers.
The comprehensive analysis within this report covers key market dynamics: drivers, like rising electric scooter sales and motor advancements; restraints, such as supply chain volatility and limited range of electric models; opportunities in developing high-performance motors and thermal management systems; and challenges like hub motor inefficiencies and rising costs. The report delves into product development and innovation, identifying emerging technologies and new product launches. It also covers market development across regions, diversification into untapped areas, and competitive assessments of major players.
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