Asia-Pacific (APAC) Electric Scooters and Motorcycles Market By Product (Scooter, Motorcycle), By Battery Type (Sealed Lead Acid, Lithium-ion), By Voltage (36V, 48V, 60V, 72V), By Technology (Plug-in, Battery), By Country (China, Japan, India, South Korea) – Market Size, Share, Development, Growth, and Demand Forecast, 2013-2025

APAC Electric Scooters and Motorcycles Market Overview

The APAC electric scooters and motorcycles market is forecasted to reach 31.2 million units by 2025, registering a CAGR of 7.6% during the forecast period. The market has witnessed a significant growth in the recent past, owing to the rapid urbanization in the growing economies of APAC, rising demand for light vehicles in the small cities and towns of the region, and the public awareness initiatives about the degrading air quality in the region.

APAC ELECTRIC SCOOTERS AND MOTORCYCLES MARKET, BY VOLTAGE, UNITS (2013-2025)

On the basis of battery type, the APAC electric scooters and motorcycles market is segmented into sealed lead acid (SLA) and lithium-ion (Li-ion) batteries. Among these, the SLA category recorded the highest volume sales in the market, with a contribution of more than 80% in 2017. However, the Li-ion category is predicted to grow at a faster rate during the forecast period, owing to their light weight and longer expected life.

On the basis of voltage, the APAC electric scooters and motorcycles market is segmented into four categories, namely 36V, 48V, 60V, and 72V. Of these, the 48V category recorded the highest volume sales in the market, with a share of more than 65% in 2017. However, the fastest growth during the forecast period is expected from the 72V category, owing to the increasing demand for higher voltage battery and cost-efficiency.

Based on the technology, the APAC electric scooters and motorcycles market is segmented into plug-in and battery categories. Of these two, plug-in category has been the dominant category, with more than 95% volume sales share in the market in 2017. During the forecast period too, the plug-in category is expected to lead the market with the higher market share in this segment. This can be attributed to the ease of operation of this category when compared to the battery category, and also, to the poor and inadequate battery swapping infrastructure in the developing economies of the region. Therefore, during the forecast period, the market of APAC electric scooters and motorcycles will also witness higher growth in the plug-in category.

Geographically, the APAC electric scooters and motorcycles market is segmented into China, Japan, India, and Rest of Asia-Pacific. Among these, China recorded the highest volume sales of e-scooters and e-motorcycles in the region in 2017. The country is also expected to continue its leading position in this market in the coming years, primarily because of government policies such as strict ban on the ownership of gasoline motorcycles in certain cities and support in the form of subsidies.

APAC Electric Scooters and Motorcycles Market Dynamics

Growth Drivers

With the onset of rapid urbanization in the region, the urban population in majority of APAC nations is poised to rise significantly. Much of this urban growth is expected to occur in growing economies such as India and China, leading to enormous environmental changes. In order to address these changes, countries are investing in eco-friendly solutions, and increased production and use of electric scooters and motorcycles is one of them. Also, the rising concern about degrading air quality and the related government awareness initiatives are expected to drive the growth of the APAC electric scooters and motorcycles market during the forecast period.

Restraints

The lack of proper infrastructure is the major restraint to the growth of the APAC electric scooters and motorcycles market. The limited availability of charging stations increases the anxiety of the user regarding the vehicle range, which hampers the sales of electric scooters and motorcycles in the region. The number of such charging stations can be increased considerably, but it would require public and private funding and considerable time too, thereby slowing down the potential sales of plug-in electric two wheelers. The other restraint in the growth of the market is the recycling of the batteries, which when not properly disposed off, can cause health and environmental problems.

APAC Electric Scooters and Motorcycles Market Competitive Landscape

Some of the key players in the APAC electric scooters and motorcycles market are Yadea Group Holdings Ltd., AIMA Technology Group Co. Ltd., Zhejiang Luyuan Electric Vehicle Co. Ltd., Jiangsu Xinri E-Vehicle Co. Ltd., Dongguan Tailing Electric Vehicle Co. Ltd., and VMOTO Limited.