The North American electric scooters and motorcycles market was valued at USD 620 million in 2022, and this number is expected to reach USD 2,348 million by 2030, advancing at a CAGR of 18.10% during 2022–2030, according to P&S Intelligence.
This development can be ascribed to supportive government initiatives, from both federal and state levels. To encourage the acceptance of electric vehicles, the government is offering tax rebates and subsidies on the purchase of EVs. In addition, non-monetary subsidies, including licensing benefits, also the provision of separate lanes are boosting the acceptance of battery-operated two-wheelers in the continent.
In 2022, the U.S. had the larger share of 83%, based on value in North American electric scooters and motorcycles market, mainly because of the rapid acceptance of electric vehicle technologies in the nation. The country's government is helping in the purchasing of EVs by offering incentives and rebates, to decrease CO2 releases from gasoline-based vehicles. Furthermore, the new trend of using kick scooters for last-mile connectivity in numerous towns has contributed to market growth.
The rising status of eco-friendly transportation systems, mainly to decrease the release of GHG, is the most vital reason behind the government initiatives to support EV sales. The help is offered through numerous subsidies and federal tax credits to consumers at the time of the purchase of EVs.
The electric scooters and motorcycles utilized for sharing services are set to experience the fastest growth by holding 82%, market share by the end of the decade. Two-wheeler sharing services are very comfortable for people, mainly everyday commuters, as they can adore riding to their destinations without bothering about owning and maintaining their vehicles.
In 2022, the electric kick scooters category led the industry by selling maximum units with 63% market share, credited to their significant acceptance in sharing fleets. Producers have launched a large number of these scooters in the past few years as they are eco-friendly, easy to use, and economical. Moreover, they have lesser functioning costs than other automobiles, which indeed is contributing to their high acceptance in sharing fleets.
