Apr 14, 2022 (Market Insight Reports) -- With growing government support, Europe electric motorcycles & scooters market outlook appears to be a promising landscape through the next six years. European governments have been encouraging the adoption of zero-emission electric vehicles through grants and subsidies. These subsidies minimize the total purchasing costs of electric scooters and motorcycles, attracting more customers. This has led to a consumer shift in preference from gas-powered two-wheelers to electric vehicles (EVs) across the region.
With the common EU goal of reducing carbon emissions across the European transport sector by nearly 60% by 2050, the Europe electric motorcycles & scooters market outlook is certain to thrive. Making the most of this opportunity, several leading EV manufacturers are investing toward the expansion of their geographical presence throughout the globe. They are introducing new, technologically advanced models to diversify their product portfolio.
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Companies are setting up plants in Asia and North America to cater to a wider customer base. For instance, Italian manufacturer of electric bikes, Energica Motor Company, Inc., announced its commercial agreement with New-York-based Hudson Valley Motorcycles for expanding its presence across the U.S. during April 2019. Every year through 2026, the electric motorcycles & scooters market size is estimated to surpass $1 billion.
A variety of options is available in scooter-sharing services including Lyft and Uber across populated urban areas throughout Europe. These companies are acquiring and collaborating with start-ups to boost their service offerings. For instance, during April 2018, Uber Technologies Inc. announced acquisition of JUMP, a bike-sharing start-up via a $200 million deal to extend its presence across the region. Although these services saw a dip in demand in 2020 due to the worldwide COVID-19 crisis, the fast recovery of the European economy might foster novel opportunities over the next few months.
Amper Vehicles, Energica, Hero Eco, KTM, Govecs Group, Harley Davidson, Zero Motorcycles, and Mahindra GenZe are some leading electric motorcycles & scooter manufacturers in Europe.
The integration of high-endurance batteries is influencing the electric motorcycles & scooters market in Europe. The 36V batteries particularly are witnessing a growing deployment in electric scooters and electric bikes. These batteries have fewer cells when compared to other alternatives. As these batteries help in reducing the overall weight of the EV, they are being preferred by numerous electric bike manufacturers who are seeking light-weighting solutions.
In terms of battery type, Li-ion and SLA batteries are the two major segments in the electric motorcycles & scooters market forecast. The SLA battery share is projected to see significant expansion through 2026, owing to the higher affordability of these batteries as compared to lithium-ion ones. They are also available in multiple voltage configurations across numerous models, apart from being highly reliable and safe in the event of overcharging.
