Electric Scooter Motor Market worth $1,201.2 million by 2030| MarketsandMarkets

Oct 25, 2024, 05:30 ET

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DELRAY BEACH, Fla., Oct. 25, 2024 /PRNewswire/ -- The global Electric Scooter Motor market is projected to grow from USD 416.0 million in 2024 to USD 1,201.2 million by 2030, registering a CAGR of 19.3%, according to a new report by MarketsandMarkets. The surging popularity of electric two-wheelers, due to their affordability, convenience, and eco-friendliness, is directly fueling the demand for electric scooter motors. Advancements in motor technology, resulting in improved efficiency, power output, and durability, are making them even more appealing to manufacturers and consumers. Government incentives and policies promoting the adoption of electric vehicles through subsidies, tax breaks, and infrastructure development, which is stimulating the demand for electric scooter motors.

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Browse in-depth TOC on "Electric Scooter Motor Market"

300 - Tables 74 - Figures276 - Pages

Electric Scooter Motor Market Scope:

Report Coverage

Details

Market Revenue in 2024

USD 416.0 million

Estimated Value by 2030

USD 1,201.2 million

Growth Rate

Poised to grow at a CAGR of 19.3%

Market Size Available for

2019–2030

Forecast Period

2024-2030

Forecast Units

Volume (Thousand Units) and Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Vehicle Type, Drive Type, Motor Type, Motor Power, Positioning, Component and Region

Geographies Covered

Asia Pacific, Europe and North America

Report Highlights

Updated financial information / product portfolio of players

Lower Operating Costs and Reduced Maintenance Requirements to Drive Market.

Electric motorcycles use electric motors and rechargeable batteries for power, eliminating the need for gasoline and lowering pollution. With developments in battery technology and electric motor efficiency, electric bikes feature excellent performance, including quick torque delivery, smooth acceleration, and silent operation, giving riders an enjoyable riding experience. Furthermore, electric motorbikes have lower running expenses and maintenance requirements than their gasoline equivalents, making them an appealing option for riders looking for a more cost-effective and environmentally responsible method of transportation. Because of the complexity of electric motorcycle design, few businesses produced them at first. Many established firms, including Ola Electric, Niu International, Vmoto, Harley Davidson, and KTM, have begun producing electric motorcycles. Over time, electric motorcycles have evolved to offer greater range and speed. Many corporations are looking into this field and have begun to spend in order to gain access to the industry. Ola Electric unveiled its first electric motorcycle, the Ola Roadster, in August 2024. It has a peak output of 1152 kW and a certified range of 200-579 km. At the EICMA 2023 Milan motorbike Show in November 2023, Yadea Technology Group Co., Ltd. will introduce the Yadea Kemper electric motorbike. The motorcycle has a top speed of 160 km/h (99.4 mph) with a centrally mounted motor rated at 23 kW continuous and 40 kW peak power.

Robust Performance and Higher Torque to Drive Market.

Chain drives offer strength and durability, which allow them to efficiently transmit power from the motor to the wheels, especially in situations where strong acceleration or carrying heavy loads is required. This capability is particularly valued in electric scooters and motorcycles that need to navigate steep inclines or are used for longer commutes. As more consumers seek electric scooters that can manage diverse terrains and provide a reliable ride, the demand for chain drive systems has naturally increased. OEMs in countries like China and India, are heavily investing in the development and production of electric scooters that cater to the region's vast and diverse consumer base. NIU (China) planned to make the NIU RQi Sport an urban performance motorcycle available from late 2024. This will have a power of 5 kW mid-mounted motor and chain drive. The combination of a large, growing market with the practical benefits of chain drive systems, such as the ability to manage heavy loads and provide reliable performance over long distances, ensures to lead in the adoption and use of chain drive systems in the electric scooter motor market.

Europe is expected to become second largest growing market in size for electric scooter motor during the forecast period.

Europe is home to many electric two-wheeler motor manufacturing companies, such as Robert Bosch GmbH (Germany), MAHLE GmbH (Germany), Vitesco Technologies (Germany), Saietta Electric Drive (UK), and SEG Automotive (Germany). The automotive sector is one of the key contributors to the European economy. The increasing concerns over carbon emissions by conventional ICE two-wheelers and efficiency in this mode of travel have led European two-wheeler manufacturers to develop electric scooters and motorcycles; this is increasing the demand for electric scooter motors in the region. The diverse motor positioning, such as hub motors and mid-drive motors, are expanding the electric scooter motor market by catering to different performance needs. Hub motors offer simplicity and cost-effectiveness, while mid-drive motors provide superior torque and handling, making them ideal for high-performance models. This variety allows manufacturers to target a broader customer base, driving market growth. Simultaneously, advancements in motor technology have led to more efficient and powerful motors, enabling higher speeds and better performance.

Key Market Players Electric Scooter Motor Industry:

Prominent players in the Electric Scooter Motor Market include as Robert Bosch GmbH (Germany), MAHLE GmbH (Germany), Vitesco Technologies GmbH (Germany), Saietta Electric Drive (UK)

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Electric Scooter Motor Market Size - Key Benefits of Buying the Report:

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