North America Electric Scooter and Motorcycle Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024

Description

Key Highlights

The North America electric scooters and motorcycles market generated a value of USD 727.9 million in 2023, which will rise to USD 2,360.5 million, powering at an 18.4% CAGR, by 2030.

The increasing importance of green transportation systems, to decrease GHG emissions, is a key factor allowing governments to support electric vehicle sales.

The support is provided through different incentives and federal tax credits to consumers at the time of buying these vehicles.

The improvements in battery technology to reduce the overall cost of electric two-wheelers, coupled with their enhanced driving range, is a major trend being observed in this industry.

Enhancements in battery capacity boost the range of electric scooters and motorcycles. Substantial effort has been taken in the enhancement of batteries over the years, to decrease their cost and enhance their capacity.

With the improvement in technology, the capacity of the battery has been improved to fulfill the need for a longer driving range.

Manufacturers are constantly working toward attaining greater energy density and lesser dependence on cobalt, a costly raw material employed in these batteries, which, in line, boosts the operational efficiency of these batteries and decreases their price.

Key Insights

Sharing services is likely to be the largest contributor to the industry, with a share of over 80%, by 2030.

Two-wheeler sharing services are very suitable for the general public, mainly daily commuters because they can enjoy driving to their destinations without the fuss of owning/maintaining their vehicles.

Electric kick scooters accounted for the largest share of the industry in 2023, with a share of approximately 65% share. This will be because of their substantial acceptance in sharing fleets.

Manufacturers have launched a huge count of such scooters in the past few years because they are eco-friendly, convenient, and economical to use.

They need fewer operating expenses than various other vehicles, which leads to their high acceptance in sharing fleets.

This category will remain the largest, in terms of both volume and value, throughout this decade.

This is primarily because of the government backing in the form of rebates and incentives for purchasing these automobiles, the growing fondness of consumers for such vehicles, and the existence of a significant number of manufacturers.

The less-than-5kWh battery capacity was the larger contributor to the industry in 2023, with a share of 85%. This is mainly because of the rising count of such scooters on the roads, particularly kick scooters, as part of sharing services, in this continent.

These two-wheelers comprise a smaller battery pack than motorcycles, which makes the whole vehicle smaller and easily controllable.

The 10-15kWh battery capacity is likely to advance at a significant compound annual growth rate during this decade. This is because of the increasing need for long-range electric motorcycles.

The U.S. led the industry in 2023, with approximately 85% share, mainly because of the faster acceptance of electric vehicle technologies in this nation.

The U.S. government is encouraging the adoption of these vehicles with rebates and incentives, to decrease carbon emissions.

The North America electric scooter and motorcycle industry is fragmented.

Product Code: 11194

Chapter 1. Research Background

1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope

1.3.1 Market Segmentation by Type

1.3.2 Market Segmentation by Battery Capacity

1.3.3 Market Segmentation by Battery

1.3.4 Market Segmentation by Application

1.3.5 Market Segmentation by Country

1.3.6 Analysis Period

1.3.7 Market Data Reporting Unit

1.3.7.1 Value
1.3.7.2 Volume

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research
2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents

2.2.1.1 By country
2.2.1.2 By industry participant

2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Type

4.1.1.1 Motorcycle
4.1.1.2 Scooter
4.1.1.3 Kick scooter

4.1.2 By Battery Capacity

4.1.2.1 <5 kWh
4.1.2.2 5-10 kWh
4.1.2.3 10-15 kWh
4.1.2.4 >15 kWh

4.1.3 By Battery

4.1.3.1 Lead acid
4.1.3.2 Li-ion

4.1.4 By Application

4.1.4.1 Sharing services
4.1.4.2 Food and grocery
4.1.4.3 Personal users

4.2 Value Chain Analysis
4.3 Market Dynamics

4.3.1 Trends

4.3.1.1 Development in battery technology
4.3.1.2 Increasing investment and acquisition in the electric two-wheeler industry
4.3.1.3 Growing preference toward environment-friendly micromobility alternatives

4.3.2 Drivers

4.3.2.1 Government incentives and federal tax credits
4.3.2.2 Emergence of electric scooter sharing fleet
4.3.2.3 Low maintenance
4.3.2.4 Impact analysis of drivers on market forecast

4.3.3 Restraints

4.3.3.1 Lack of clarity on operational guidelines for electric kick scooters
4.3.3.2 Rising number of accidents
4.3.3.3 High purchase cost
4.3.3.4 Impact analysis of restraints on market forecast

4.3.4 Opportunities

4.3.4.1 Availability of smart charging stations
4.3.4.2 Food and beverages delivery

4.4 Porter's Five Forces Analysis

4.4.1 Bargaining Power of Buyers

4.4.2 Bargaining Power of Suppliers

4.4.3 Threat of New Entrants

4.4.4 Intensity of Rivalry

4.4.5 Threat of Substitutes

4.5 Regulatory Landscape

4.5.1 Federal Tax Credit

4.5.2 State Incentives

4.6 Impact of COVID-19 on the Market

Chapter 5. North America Market Size and Forecast

5.1 By Type
5.2 By Battery Capacity
5.3 By Battery
5.4 By Application
5.5 By Country

Chapter 6. U.S. Market Size and Forecast

6.1 By Type
6.2 By Battery Capacity
6.3 By Battery
6.4 By Application

Chapter 7. Canada Market Size and Forecast

7.1 By Type
7.2 By Battery Capacity
7.3 By Battery
7.4 By Application

Chapter 8. Competitive Landscape

8.1 Market Share Analysis of Key Players
8.2 Competitive Benchmarking of Key Players
8.3 Product Benchmarking of Key Players
8.4 North America Strategic Developments of Key Players

8.4.1 Mergers and Acquisitions

8.4.2 Product Launches

8.4.3 Client Wins

8.4.4 Other Developments

Chapter 9. Company Profiles

9.1 KTM North America Inc.

9.1.1 Business Overview

9.1.2 Product and Service Offerings

9.2 Harley-Davidson Inc.

9.2.1 Business Overview

9.2.2 Product and Service Offerings

9.3 Razor USA LLC

9.3.1 Business Overview

9.3.2 Product and Service Offerings

9.4 Segway Inc.

9.4.1 Business Overview

9.4.2 Product and Service Offerings

9.5 TORROT ELECTRIC EUROPA S.A.

9.5.1 Business Overview

9.5.2 Product and Service Offerings

9.6 Zero Motorcycles Inc.

9.6.1 Business Overview

9.6.2 Product and Service Offerings

9.7 Energica Motor Company S.p.A.

9.7.1 Business Overview

9.7.2 Product and Service Offerings

9.8 Lightning Motorcycle Corp.

9.8.1 Business Overview

9.8.2 Product and Service Offerings

9.9 Bell Custom Cycles

9.9.1 Business Overview

9.9.2 Product and Service Offerings

Chapter 10. Appendix

10.1 Abbreviations
10.2 Sources and References
10.3 Related Report

North America Electric Scooter and Motorcycle Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)