Rising Demand for Electric Scooter Sharing Services Driving Growth of North American Electric Scooters and Motorcycles Market

The North American electric scooters and motorcycles market generated a revenue of $164.7 million in 2020 and it is predicted to reach a valuation of $590.4 million by 2025. According to the forecast of the market research company, P&S Intelligence, the market will progress at a CAGR of 25.1% between 2021 and 2025. The growing popularity of electric scooter sharing fleets and the rising provision of tax credits on their adoption are the major factors driving the market advancement.

As electric scooters and motorcycles contain fewer moving and vibrating parts, their maintenance requirements are very low. This massively reduces the demand for periodic maintenance and servicing that usually cost the owners of the conventionally used fossil fuel-powered vehicles a huge amount. Moreover, due to their lower maintenance requirements than traditional vehicles, they are increasingly being adopted by people who don’t have the time required for routine vehicle maintenance and servicing. 

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Apart from the aforementioned factor, the provision of federal tax credits and other financial assistance regarding the purchase of electric scooters and motorcycles by the governments of several North American countries is also fueling the expansion of the electric scooters and motorcycles market in North America. Depending on type, the market is divided into motorcycle, scooter, and kick scooter. Out of these, the electric motorcycle category is predicted to exhibit the fastest growth in the market in the upcoming years.

Additionally, the growing popularity of electric vehicles, due to the soaring environmental concerns and the mushrooming diesel and gasoline prices, is also propelling the advancement of the market in the country. One of the major trends currently being witnessed in the market is the rapid developments and advancements being made in the battery technology in order to increase the capacity of the batteries for meeting the requirements for a longer driving range and reduce their prices.  

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Hence, it is safe to say that the market will demonstrate rapid expansion in the coming years, mainly because of the rising public preference for eco-friendly vehicles and the increasing implementation of favorable government policies regarding the adoption of electric vehicles in the region. 

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North America Electric Scooters and Motorcycles Market to Grow Nearly 30% through 2024

The North America electric scooters and motorcycles market attained a size of $154.8 million in 2018, and it is predicted to progress at a CAGR of 28.4% during the forecast period (2019–2024). The factors driving the growth of the market are government incentives and federal tax credits, low maintenance cost of such vehicles, and emergence of sharing services. Further, the amount of investments being made in e-two-wheeler manufacturing companies is increasing at a significant rate. Electric scooters and motorcycles are scooters and motorcycles that use rechargeable battery for moving.

On the basis of type, the electric bike scooters and market in North America is divided into scooter, kick scooter, and motorcycle. Out of these, in 2018, in terms of volume, the kick scooter category dominated the market. This is ascribed to the growing usage of electric kick scooters for sharing services, as these are eco-friendly, economical, and easy to ride. Furthermore, e-kick scooters, as compared to others, have low operating cost, resulting in an increasing adoption rate of these vehicles, further resulting in its dominance in the historical period.

Coming to the batter capacity, the North American electric scooters and motorcycles sector is classified into more than 15 kWh, 10–15 kWh, 5–10 kWh, and less than 5 kWh. Among these, in 2018, electric scooters and motorcycles with less than 5 kWh battery capacity held the largest volume share in the market, of more than 90.0%. This is attributed to the sudden rise in the demand for kick scooters for sharing services and increase in their usage by individuals, who mostly preferred vehicles powered by batteries with a capacity of less than 5 kWh.

Based on country, the electric scooters and bike market in North America is bifurcated into the U.S. and Canada, of which, the U.S. accounted for a contribution of nearly 85.0% in the market in 2018 in terms of volume. The major factors driving the growth of the sector in the U.S. are the increasing adoption of electric vehicles, government support in the form of financial and non-financial incentives for the acquisition of these vehicles, and a large passenger base. Hence, the growing inclination toward such electric vehicles in the U.S. is predicted to boost the market in North America.

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Currently, the electric scooter sharing service niche is witnessing rapid development and is in a process of evolution. These services have been available in North America since 2012, but only in the last two years, e-scooters emerged in the domain. Such sharing services are an attractive option for shared mobility, as these are easy to operate, compact, and do not ask for any physical exertion. In addition to this, the size of the battery used in these scooters is lesser, compared to other electric vehicles, which makes e-scooters easier to charge.

Therefore, with the emergence of electric scooters in the sharing fleet, the North American electric scooters and motorcycles market is expected to witness significant growth.

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Electric Bike Market Trend in North America Region- Regional Outlook, 2015–2024

The North American electric scooters and motorcycles market is likely to reach $675.7 million by 2024, with a CAGR of 28.4%, according to P&S Intelligence.

Emergence of electric scooter sharing fleet, government policies and incentives, development in battery technology, and low maintenance cost are the key factors driving the growth of the market.

Emergence of electric scooter sharing fleet is responsible for the growth of the North American electric bike and scooter market. Many new sharing service providers have started to deploy electric scooters and kick scooters in their fleet. Further, the      availability of smart charging stations and application of these vehicles in food and beverages delivery services are opening up new opportunity for the growth in the market.

Insights into market segments

On the basis of battery, the North American electric scooters and motorcycles market is categorized into lead acid- and li-ion-based electric scooters and motorcycles. Of these, the li-ion battery-based electric scooters and motorcycles dominated the market during the historical period and is expected to continue dominating the market during the forecast period. Falling prices of li-ion batteries, coupled with their inherent advantages such as lightweight, small size, high energy density, low maintenance, and low self-discharge over other batteries are expected to benefit the market during the forecast period.

Based on application, the North American electric scooters and motorcycles market is classified into sharing services, food and grocery, and personal users. Among these, sharing service application is expected to be the largest category during the forecast period. This is because the sharing service makes customers free from hassles involved in owning their own vehicles and it offers easy commuting for short distances.

What are the factors impacting the growth of this market?

1. Favorable government incentives and federal tax credits are a major driver in the market

1. High purchase cost of the vehicle is a major restraining factor in the market

Growing importance for environment-friendly transportation systems in order to reduce greenhouse gas (GHG) emissions is one of the major factors enabling governments to support the sales of electric scooters and motorcycles. The support is provided by offering several incentives and tax credits to customers at the time of purchase of these vehicles, which trigger the growth of the North American electric scooters and motorcycles market. Selected regions, states, and cities provide incentives for buying electric motorcycles. For instance, in 2017, the Government of California offered 10% federal tax credit for the purchase of electric motorcycle, up to $2,500, in that year. Also, Clean Vehicle Rebate Project (CVRP) promotes adoption of clean vehicles in California by providing rebates of up to $900 for the purchase of electric motorcycle in the state.

The U.S. stands as larger market for electric scooters and motorcycles in North America

The U.S. was larger market for these vehicles, in terms of volume, contributing close to 85% share to the North American electric scooters and motorcycles market in 2018. Factors driving the growth of the market in the U.S. are faster adoption of electric vehicles (EVs) in the country, support by the government in form of financial and non-financial incentives for the procurement of these vehicles, and high commuter base.

Market Competitive landscape

The major players operating in the market are KTM North America Inc., Razor USA LLC, Segway Inc., TORROT ELECTRIC EUROPA S.A., Zero Motorcycles Inc., Mahindra GenZe, Energica Motor Company S.p.A., and Alta Motors. 

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