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Europe Electric Scooters and Motorcycles Market Overview
The European electric scooters and motorcycles market generated a revenue of $167.2 million in 2018 and is further expected to grow at a CAGR of 26.2% during the forecast period. The growth of the market is attributed to the rising concerns over greenhouse gas emissions leading to several government initiatives, implementation of stringent emission regulations, traffic woes in major European cities, as well as deployment of electric scooters for sharing services.
On the basis of product, the European electric scooters and motorcycles market is categorized into scooter, low-powered motorcycle, and high-powered motorcycle. Among these, the scooter category is expected to continue dominating the market in Europe during the forecast period. This is mainly due to growing government support such as tax incentives and imposing hefty taxes on conventional fuel-based vehicles, across Europe. Additionally, electric scooters provide good user experience with additional benefits such as non-requirement of driving license, insurance, inspection, and parking permit, which further drive the growth of the market.
Based on power, the European electric scooters and motorcycles market is classified into <1.5 kW, 1.5–5 kW, 6–15 kW, and >15 kW. Of these, the scooters and motorcycles having motor power of 1.5–5 kW dominated the European market during the historical period, with a market share of over 60% in terms of volume in 2018. Also, this category is expected to hold the largest share during the forecast period.
France held the largest share in the European electric scooters and motorcycles market during the historical period. However, Spain is expected to be the largest market for electric scooters and motorcycles in Europe by 2024, in terms of value. This is due to the fact that scooter sharing business is getting popular in major cities of the country, and many new players have started their operation in Barcelona as the scooter culture is vibrant in the city. Also, the Spanish government is taking initiatives on local and national levels to facilitate consumers to shift from conventional based two-wheelers to electric variants.
Europe Electric Scooters and Motorcycles Market Dynamics
The development of electric scooter sharing services in Europe is a major driver for the European electric scooters and motorcycles market. The sharing services have added an element of convenience in daily commute of general public, especially for those not owning any vehicle. With the launch of these services, the users can travel to their destinations without having the need to own vehicles and bear secondary charges, including maintenance, insurance claims, and parking. The users of these services simply need to make payments on the basis of the time and distance travelled by them along with an initial registration cost.
In the beginning of 2019, around 50 scooter sharing service providers operate in Europe, offering services in more than 50 cities. The number of electric scooters in sharing services has been increasing in the recent years. For instance, in 2018, 20,980 electric scooters were in operation for these services, as compared to 6,980 electric scooters in 2017.
In terms of fleet size, Spain, followed by France, dominated the European electric scooters and motorcycles market during historical period, offering the largest fleet of scooters for sharing purposes. Spain had about 8,920 electric scooters for sharing services in 2018, an increase of around 498% relative to the fleet size reported in 2017. Besides, France had around 4,870 scooters operating in the sharing services in 2018, an increase by nearly 2,770 units from the preceding year. This growth of the scooter sharing services has significantly led to the growth of the market.
One of the major restraining factors for the European electric scooters and motorcycles market is the long charging time. At present, electric scooters and motorcycles take about 3–5 hours to recharge 80–100% of their battery charging capacity. Besides, electric scooters can travel 50–100 km on a single charge; hence, the ratio of the travel distance of these scooters to their recharge time is 1. Thus, the battery recharging of electric variants is quite time-consuming and slow as compared to conventional scooters and motorcycles, where fueling a vehicle requires few minutes.
Moreover, charging of these vehicles must be guarded so as to avoid any damage to batteries. Besides, overcharging the battery may lead to its permanent damage and the vehicle may no longer function properly. Thus, long charging time and risks associated with the charging of batteries limit the adoption of electric scooters and motorcycles in the region to some extent, which in turn, affect the growth of the European electric scooters and motorcycles market.
A major growth opportunity for players operating in the European electric scooters and motorcycles market is increasing demand for vehicles for last-mile delivery of food, beverages, and grocery items in the region. Last-mile delivery is referred to as the movement of goods from a hub to final destination. With a large number of food and beverage outlets opening across the European region, the growing demand for alternative transport options for delivery has provided an opportunity to the market players to replace traditional delivery models with cost-effective, low-maintenance, and environment-friendly electric scooters and motorcycles.
Europe Electric Scooters and Motorcycles Market Competitive Landscape
Some of the major players of the European electric scooters and motorcycles market are GOVECS AG, Gogoro Inc., TORROT ELECTRIC EUROPA S.A., Kwang Yang Motor Co. Ltd., unu GmbH, BMW AG, Niu Technologies, Askoll EVA SpA, Zero Motorcycles Inc., Lightning Motors Corp., Alta Motors, Scutum Logistic S.L., emco electroroller GmbH, ETRIX AG, and Piaggio & C. SpA.