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Asia-Pacific Electric Scooters and Motorcycles Market

Asia-Pacific Electric Scooters and Motorcycles Market by Product (Scooter, Motorcycle), by Battery Type (Sealed Lead Acid, Li-ion), by Voltage (36V, 24V, 48V), by Technology (by Plug-in, Battery), by Geography (China, India, Japan, Indonesia, Thailand, South Korea) – Market Size, Share, Development, Growth and Demand Forecast, 2013-2025

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Asia-Pacific Electric Scooters and Motorcycles Market Overview

The Asia-Pacific electric scooters and motorcycles market size valued at $9.1 billion in 2016 and is forecasted to reach $14 billion by 2025, at a CAGR of 4.9%. Asia-Pacific accounts for close to 90% of all electric scooters and motorcycles sold in the world. China is the largest market of electric scooters and motorcycles, accounting for 95% of Asia-Pacific revenues in 2016. While lead acid battery accounts for majority of sales, the share of lithium-ion batteries is expected to increase over the forecast period due to decline in its prices.

Drivers

Two-wheelers account for majority of transport in Asia-Pacific mainly due to their low cost. This presents a major long-term opportunity of electric two-wheeler manufacturers to penetrate in the Asia-Pacific region. Moreover, there is a considerable share of population which do not own any vehicle. Rising income levels in emerging economies like India and China are encouraging people to buy two-wheelers. Moreover, growing urbanisation in these countries is also benefiting the sales of electric two-wheelers.

The government support in the form of subsidies and stringent emission norms is benefiting the Asia-Pacific electric scooters and motorcycles market. The governments of many developing countries are following the western countries and implementing stringent emission norms. For instance, India would follow the toughest global emission norms Bharat Stage (BS)-VI, from the current BS-IV, by 2020, skipping the BS-V. Furthermore, governments in many countries are also giving considerable subsidies on the purchase of electric vehicles making them more affordable. Going forward, the regulatory environment would encourage customers to opt for electric two-wheelers over the conventional ones.

Challenges

Lack of awareness regarding electric scooters and two wheelers is a major restraint for the Asia-Pacific electric scooters and motorcycles market. Except in China, the largest electric scooters and motorcycles market, consumers from other potential countries such as India and Indonesia are less aware of the electric scooters and motorcycles. This is especially the case in the rural and semi-urban regions of these countries. The electric two-wheelers companies too majorly focus on the urban customers.

Unlike electric cars, the batteries of electric two-wheelers could be charged overnight at home. However, on-the-go recharge stations could go a long way increasing practicality of owning an electric scooter or a motorcycle. Currently, the ecosystem to support the growth of electric two-wheelers, which includes recharging stations and electric battery manufacturing, is not developed in many Asia-Pacific countries hampering the growth potential for electric scooters and motorcycles market in these countries.

Asia-Pacific Electric Scooters and Motorcycles Market - Competitive Landscape

The Asia-Pacific electric scooters and motorcycles market is highly competitive with a considerable share captured by small players. Overall, the market is dominated by Chinese manufacturers, important among them includes Jiangsu Xinri E-Vehicle Co., Vmoto and SYM. Some of the major international players include Honda, Yamaha and Peugeot. Local players from other countries such as India and Indonesia have a negligible share in the total Asia-Pacific two-wheeler sales.

Asia-Pacific Electric Scooters and Motorcycles Market Segmentation

By Vehicle Type

  • Scooter
  • Motorcycle

By Battery Type

  • Sealed Lead Acid
  • Li-ion
  • Others

By Technology

  • Plug-in Based
  • Battery Based

By Voltage

  • 36V
  • 24V
  • 48V
  • Others

By Geography

  • China
  • India
  • Japan
  • Indonesia
  • Thailand
  • South Korea

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