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In 2016, the scale of the global electric motorcycle and motorcycle market was 12.9681 billion U.S. dollars. It is estimated that by 2025 it will reach 22.192 billion U.S. dollars, and the CAGR of 2017-2025 will be 6.9%.
Electric scooter and motorcycle have been divided into 48V, 24V, 36V and can provide more voltage, such as 60V and 72V. Scooters and motorcycles range in speed from 30 km/h to 70 km/h. All electric scooters and motorcycles can be charged by plugging into an ordinary wall socket. It usually takes about 8 hours to charge.
According to the research results, the demand for electric motorcycles is higher than that for electric motorcycles. Sealed lead-acid battery vehicles have become the largest source of revenue on the global market; however, during the forecast period, lithium-ion battery-based motorcycles and motorcycles are expected to experience the highest growth in demand. China is the largest market for electric vehicles in the world, and during the forecast period, the Indian market is expected to grow fastest.
From a geographical point of view, in 2016, the Asia Pacific region accounted for more than 90% of global electric motorcycle and motorcycle shipments. During the forecast period, shipments in Europe are expected to grow fastest; however, the North American market is also expected to grow at almost the same rate.
The growth in the electric motorcycle and motorcycle market in the Asia Pacific region is due to rapid urbanization and increased household income, which has attracted consumers to use electric vehicles instead of fuel-driven two-wheeled vehicles. China, India, Indonesia, Japan, and South Korea are the major electric two-wheeler markets in the Asia Pacific region; other major markets in the region include Australia and Vietnam.
The increase in global carbon emissions caused by the burning of road fuels has been a concern for environmentalists and the government for the past 10 years. This concern has led to increased demand for electric vehicles (EVs) and has been adopted globally. While reducing environmental carbon emissions, electric motorcycles and motorcycles have also received attention from governments of all countries and become highly efficient and reliable light vehicles (LMVs). In order to encourage the use of low-emission environmentally friendly vehicles, governments provide benefits such as tax deductions and other taxes. This factor bears heavy responsibility for the growth of users in the development and adoption of electric motorcycles and motorcycles.