The European electric scooters and motorcycles market is expected to reach $892.4 million by 2025, with a CAGR of 26.2% during the forecast period, according to P&S Intelligence.
The major driving factors for the growth of the market are deployment of electric scooters for sharing services, rising concerns over greenhouse gas emissions, government initiatives, and implementation of stringent emission regulations.
The rising concerns over greenhouse gas emissions coupled with introduction of several government initiatives is a major factor for the growth of the European electric scooters and motorcycles market. Accelerating rate of environmental degradation caused by greenhouse gas emissions has become a major concern for governments across the world. This has resulted in various government initiatives to reduce carbon emissions on a large scale.
For instance, the Italian government has recently enacted a legislation to provide subsidies on electric scooter purchases, and the scheme is valid through 2019. The government has allocated $11.34 million (EUR 10 million) to support the scheme. Thus, such initiatives by the government to increase the adoption of electric vehicles as an effort to reduce carbon emissions are driving the European electric scooters and motorcycles market.
France was the largest electric scooters and motorcycles market in 2018
France held the largest share in the European electric scooters and motorcycles market during the historical period, accounting for over 25% sales volume in 2018. However, Spain is expected to be the largest market for electric scooters and motorcycles in Europe during the forecast period. This is due to the fact that introduction of 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.
Some of the major players operating in 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.
Curious? Need more details? The request a sample of the “Electric bike and Scooters Market in Europe” report.
The major driving factors for the growth of the market are deployment of electric scooters for sharing services, rising concerns over greenhouse gas emissions, government initiatives, and implementation of stringent emission regulations.
The rising concerns over greenhouse gas emissions coupled with introduction of several government initiatives is a major factor for the growth of the European electric scooters and motorcycles market. Accelerating rate of environmental degradation caused by greenhouse gas emissions has become a major concern for governments across the world. This has resulted in various government initiatives to reduce carbon emissions on a large scale.
For instance, the Italian government has recently enacted a legislation to provide subsidies on electric scooter purchases, and the scheme is valid through 2019. The government has allocated $11.34 million (EUR 10 million) to support the scheme. Thus, such initiatives by the government to increase the adoption of electric vehicles as an effort to reduce carbon emissions are driving the European electric scooters and motorcycles market.
The demand for high-powered electric motorcycles is increasing in the European countries. Due to their higher power levels, electric motorcycles witnessed over 100% increase in their sales in 2018, from the preceding year. Many original equipment manufacturers (OEMs) of conventional gasoline-based vehicles have announced their plans of introducing high-powered electric motorcycles in the near future. Thus, the increasing demand for electric motorcycles with high-power engine is one of the key trends observed in the European electric scooters and motorcycles market.Implementation of stringent emission regulations acting as a major driverIncreased demand for high-powered electric motorcycles is a key trend witnessed in the market
France was the largest electric scooters and motorcycles market in 2018
France held the largest share in the European electric scooters and motorcycles market during the historical period, accounting for over 25% sales volume in 2018. However, Spain is expected to be the largest market for electric scooters and motorcycles in Europe during the forecast period. This is due to the fact that introduction of 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.
Some of the major players operating in 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.
Curious? Need more details? The request a sample of the “Electric bike and Scooters Market in Europe” report.
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