The European region has been highly proactive in the adoption of renewable sources of energy. Almost all the countries in the region have set targets to reduce carbon emissions in the near future under several global agreements. Therefore, the adoption of electric vehicles (EV) remains at the forefront of their agenda toward reducing carbon emission. Apart from electric cars, electric scooters, and motorcycles, sales are also soaring on an account of competitive pricing, better designs, etc. Moreover, due to traffic congestion, the traction of car owners toward electric two-wheelers is also growing.
On an average, a resident car owner in Europe annually spends around 27 hours in a traffic jam.
Therefore, to reduce such traffic-related delays, several governments have been running promotional awareness campaigns to push customers toward purchasing electric two-wheelers. Moreover, the strict government rules on greenhouse emissions, along with the implementation of stringent emission regulations are anticipated to boost the Europe Electric Scooter and Motorcycles market growth.
According to the MarkNtel Advisors’ research report titled “Europe Electric Scooter and Motorcycles Market Analysis, 2020”, the European market size is estimated to surge at a CAGR of around 27% during 2020-25. The escalating degree of registration of electric motorcycle and mopeds is leading to a proliferation of market growth for Electric Scooter and Motorcycles in the country. According to the European Association of Motorcycle Manufacturers (ACEM), the electric motorcycle market grew from 4,121 units in 2017 to 7,478 units in 2018. Similarly, the registration of electric mopeds surged from 27,029 units in 2017 to 39,701 units in 2018. Moreover, the strict government regulations on emission levels has also led a widespread growth for the Europe Electric Scooter and Motorcycles market. For instance, the implementation of Euro 4 emission standards, which applies to motorcycles from January 2016 and to scooters/mopeds from 2017, has significantly reduced the sales of gasoline-based scooters and motorcycles. According to ACEM, the market for conventional mopeds dropped to nearly 273,600 units in 2018, from around 399,400 units in 2017.
Based on product, scooters dominated the Europe Electric Scooter and Motorcycles market in 2019, accounting for a market share of more than 50% in the overall market. The adequate support of government with initiatives such as the implementation of Euro4 standard and imposing taxes on internal combustion engine (ICE) scooter is actively contributing to the growth of Electric Scooter and Motorcycles market. Moreover, the low and high-powered motorcycle segment is projected to experience a surge in the coming year.
According to MarkNtel Advisors, the leading players in the Europe Electric Scooter and Motorcycles market with a considerable market share in 2019 include GOVECS AG, Gogoro, Torrot, Zero Motorcycles, Unu Gmbh, BMW AG, Niu, etc., These companies are increasingly focusing on the development of long-range Electric Scooter and Motorcycles and therefore, continuously investing in technology upgrades.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report Europe Electric Scooter and Motorcycle Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of Unit sold (Millions).
Q. What would be the growth rate or CAGR of Europe Electric Scooter and Motorcycle Market during 2020-25?
A. The market size of Europe Electric Scooter and Motorcycle Market during 2020-25 is forecast to be around 27%.
Q. Who are the key competitors or players operating in Europe Electric Scooter and Motorcycle Market?
A. GOVECS AG, Gogoro, Torrot, Zero Motorcycles, Unu Gmbh, BMW AG, Niu and few others are the leading players in the Europe Electric Scooter and Motorcycle Market.
Q. Does the report scope cover region wise market statistics also?
A. Yes, the scope of the report encompasses detailed region wise statistics such as market size, market segmentation, market overview based on various subcategories.
Q. Which Product type segment would emerge as an opportunity area for players in Europe Electric Scooter and Motorcycle Market?
A. Based on product, Scooter dominate the Europe Electric Scooter and Motorcycle Market by grabbing the market share of more than 50%. Because of the rising support of the government such as implementation of Euro4 standard, imposing taxes on internal combustion of engine scooter, hence strongly contributing to the growth of Electric Scooter and Motorcycle Market.