North America Electric Scooters and Motorcycles Market Analysis of the Industry with Future Estimations | P&S Intelligence

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North America Electric Scooters and Motorcycles
Market Research Report by PS Intelligence
The North America electric scooters and
motorcycles market attained a size of 154.8
million in 2018, and it is predicted to progress
at a CAGR of 28.4 during the forecast period
(2019 2024). The factors driving the growth of
the market are government incentives and federal
tax credits, low maintenance cost of such
vehicles, and emergence of sharing services.
Further, the amount of investments being made in
e-two-wheeler manufacturing companies is
increasing at a significant rate. Electric
scooters and motorcycles are scooters and
motorcycles that use rechargeable battery for
moving. On the basis of type, the electric bike
market in North America is divided into scooter,
kick scooter, and motorcycle. Out of these, in
2018, in terms of volume, the kick scooter
category dominated the market. This is ascribed
to the growing usage of electric kick scooters
for sharing services, as these are eco-friendly,
economical, and easy to ride. Furthermore, e-kick
scooters, as compared to others, have low
operating cost, resulting in an increasing
adoption rate of these vehicles, further
resulting in its dominance in the historical
period. Coming to the batter capacity, the North
American electric scooters and motorcycles sector
is classified into more than 15 kWh, 1015 kWh,
510 kWh, and less than 5 kWh. Among these, in
2018, electric scooters and motorcycles with less
than 5 kWh battery capacity held the largest
volume share in the market, of more than 90.0.
This is attributed to the sudden rise in the
demand for kick scooters for sharing services and
increase in their usage by individuals, who
mostly preferred vehicles powered by batteries
with a capacity of less than 5 kWh. Based on
country, the electric scooters and bike market in
North America is bifurcated into the U.S. and
Canada, of which, the U.S. accounted for a
contribution of nearly 85.0 in the market in
2018 in terms of volume. The major factors
driving the growth of the sector in the U.S. are
the increasing adoption of electric vehicles,
government support in the form of financial and
non- financial incentives for the acquisition of
these vehicles, and a large passenger base.
Hence, the growing inclination toward such
electric vehicles in the U.S. is predicted to
boost the market in North America. Explore Full
Report Description At_at_ https//www.psmarketresearc
h.com/market- analysis/north-america-electric-sco
oters-and-motorcycles-market Currently, the
electric scooter sharing service niche is
witnessing rapid development and is in a process
of evolution. These services have been available
in North America since 2012, but only in the
last two years, e-scooters emerged in the domain.
Such sharing services are an attractive option
for shared mobility, as these are easy to
operate, compact, and do not ask for any physical
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exertion. In addition to this, the size of the
battery used in these scooters is lesser,
compared to other electric vehicles, which makes
e-scooters easier to charge. Therefore, with the
emergence of electric scooters in the sharing
fleet, the North American electric scooters and
motorcycles market is expected to witness
significant growth.