Global Electric Bikes and Scooters Market Size, Drivers, Trends, Opportunities And Strategies – Includes Electric Bikes and Scooters Market Growth
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Increasing awareness about pollution are expected to drive innovation in electric bikes and scooters manufacturing, thus driving the market during the forecast period.
The global electric bikes and scooters market is expected to grow from $23.38 billion in 2022 to $25.94 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The electric bikes and scooters market is expected to grow from $32.91 billion in 2027 at a CAGR of 6.1%.
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Global Electric Bikes And Scooters Market Segments Include:
- By Product: Electric Bikes, Electric Scooters
- By Battery: Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh), Other Battries
- By Voltage Capacity: 48-59V, 60-72V, 73-96V, Above 96V
- By Drive Mechanism: Hub Motor, Mid Drive, Other Drive Mechanisms
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global electric bikes and scooters market in 2021.
Major Market Players in the electric bikes and scooters market include Yadea, Jiangsu Xinri E-Vehicle Co. Ltd., Mahindra & Mahindra Ltd., BMW, Hero Electric, Yamaha, Sunra, Vmoto Limited, AIMA Technology Co. Ltd.
Improving battery technology is an emerging trend in the electric bike and scooter market. One such technological improvement of batteries includes the growing use of graphene batteries in electric bikes and scooters. The graphene batteries use electrolytes based on a super-thin material called graphene, which enables faster charging time, higher capacity, and lighter weight of the vehicles. In this regard, Earthday, a startup based in Barcelona, Spain, is working towards further enhancing the efficiency of graphene batteries to charge electric bikes and scooters in around five minutes.
The Electric Bikes and Scooters Global Market Report 2023 provides a electric bikes and scooters market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric bikes and scooters market forecast analyzes electric bikes and scooters market size, electric bikes and scooters market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Electric bicycles, often known as e-bikes or eBikes, are motorised bicycles with built-in electric motors that help with propulsion. Electric scooters frequently resemble motorcycles and are plug-in electric vehicles with two or three wheels and an electric motor.
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