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European Electric Scooters and Motorcycles Market size to cross $1 Bn by 2026
Published Date: 2021-06-07
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European Electric Scooters and Motorcycles Market size is estimated to reach USD 1 billion by 2026, according to a latest forecast report by Graphical Research.
European electric scooters and motorcycles manufacturers are expanding their geographic presence in global markets including North America and Asia Pacific to expand their customer base. For instance, in April 2019, Energica expanded in the U.S. through a new commercial agreement with Hudson Valley Motorcycles in New York and the Northeast region of the country.
The growth of electric scooters and motorcycles in the European market can be attributed to the increased taxation of traditional fuel vehicles compared to electric variants. With favorable government policies in countries, such as Norway, the electric vehicle adoption has increased significantly. Companies such as BMW, Yamaha, and Kawasaki are actively investing in innovative technologies and converting their traditional fleet into electric vehicles, boosting market demand.
The electric scooters and motorcycles industry experienced a slight decrease in sales and revenues during the first six months of 2020 in Europe. A high mortality rate and rapid spread of the virus along with mass quarantines impacted the purchasing power of consumers. High focus of regional government authorities on controlling the pandemic impacted the distribution of automobiles. However, high awareness related to harmful vehicle emissions among young adults stabilized the industry in Europe with steady increase in sales.
Browse detailed statistical insights from the report, “Europe Electric Motorcycles & Scooters Market Forecast 2026 By Voltage (24V, 36V, 48V), By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Electric scooters are forecast to witness a high growth potential in the European market due to the increasing adoption of these two-wheelers in everyday commute. Increasing number of scoter-sharing services such as Uber and Lyft, in populated cities will also contribute to the industry growth. For instance, in April 2018, Uber Technologies, Inc. acquired the bike-sharing start-up, JUMP in a USD 200 million deal and further plans to bolster the start-up through significant investments.
The 36V battery segment is anticipated to witness a significant growth rate from 2020 to 2026. Reduced maintenance and low cost of these batteries as compared to their counterparts will propel their adoption during the forecast timeframe. These batteries consist of a fewer number of cells, reducing their weight. The low weight of batteries aids in reducing the overall weight of vehicles, thereby supporting the market growth.
The European electric scooters and motorcycles market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026 for the following segments:
Europe Market, By Product
Europe Market, By Battery
Europe Market, By Voltage
The above information has been provided for the following countries:
- Czech Republic