Dublin, June 17, 2022 (GLOBE NEWSWIRE) — The “Asia-Pacific electric scooter market by vehicle type (electric motorcycles, electric scooters and bicycles), power output (less than 3.6 kW, 3.6 kW at 7.2 kW), battery The report “Technology, Motor Type, Load Type, End User and Country – Regional Forecast to 2029” has been added to from ResearchAndMarkets.com offer.
Asia-Pacific electric scooter market is expected to register a CAGR of 28.9% from 2022 to 2029 to reach USD 625.03 billion by 2029. In volume, this market is expected to grow at a CAGR of 26.4% from 2022 to 2029 to reach 266.04 million units by 2029.
The growth of this market is attributed to favorable government policies and regulations in Southeast Asian countries, growing environmental concerns, and growing number of investments by OEMs and ride-sharing companies in the field of micro-mobility. . Additionally, declining battery prices provide significant opportunities for the growth of this market.
On the basis of vehicle type, the electric scooters and bicycles segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is attributed to increasing government subsidies and support to promote electric mobility, increasing use of electric scooters and bicycles in courier delivery and e-commerce applications, and growing number of investments by government authorities in the development of electric vehicle charging infrastructure.
The COVID-19 pandemic has lowered demand for public transport, with most countries imposing lockdowns. However, several companies offer emission-free electric scooters and bicycles as an efficient alternative to conventional public transport.
Based on power output, the 3.6kW to 7.2kW segment is expected to grow at the highest CAGR during the forecast period. This power class is used in electric mopeds. The growth of this segment is attributed to the cost effectiveness of electric mopeds, low maintenance cost, minimal maintenance, no exhaust emissions and its ability to travel 60 km on a single charge.
Different companies have launched their electric motorcycles in the global market with power ranging from 3.6 kW to 7.2 kW. TVS Motor (India) launched the iQube electric scooter in India, equipped with a 4.4 kW electric motor. It has a maximum speed of 78 km/h and a range of 75 km on a full charge.
Based on battery technology, the lithium-ion polymer battery segment is expected to grow at the highest CAGR during the forecast period. Most e-bike manufacturers prefer lithium-ion polymer battery and are widely equipped on e-bikes. Compared with other lithium batteries, the LiPo battery has a lower price while maintaining its performance.
LiPo batteries use colloidal solid polymers or organic electrolytes. It is also advantageous for large capacity and fast charging while providing higher power for a short period of time, which allows e-bikes to get electric assist once started.
Based on motor type, the hub motor segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to high flexibility and the ability to operate in all-wheel drive, providing greater stability. A hub motor includes a wheel with a motor inside of it.
There are two types of hub motors: geared hub motors with internal planetary gears to reduce the speed of a higher RPM motor, and gearless hub motors without gears and directly connecting the stator shaft of the engine at lower revs than the bike. Gearless hub motors have no moving parts apart from their bearings, which makes them wear-efficient.
Based on charging type, the wireless charging segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the flexibility of charging the vehicle without physical contact and its faster charging speed, which helps address range anxiety.
Wireless charging systems for electric scooters are charging systems that use inductive power transfer technology to transfer power through the air from a pedestal embedded in the floor to a pedestal attached to the bottom of an electric vehicle for charge the vehicle battery. These terminals are installed either in the car parks of commercial infrastructures and private garages to charge one vehicle at a time, or along a stretch of road to charge several vehicles on the move.
On the basis of end-user, the business organizations segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increase in government initiatives aimed at accelerating the adoption of electric vehicles, last-mile transportation and reducing traffic congestion.
Many e-commerce companies have started using electric scooters for their delivery services. In January 2020, Ampere Vehicles partnered with online grocery store Supermarket Grocery Supplies Pvt Ltd to electrify the process in six metropolitan cities in India including Bengaluru, Chennai, Hyderabad, Mumbai, Pune and Delhi NCR.
According to the countries, Philippines is expected to register the highest CAGR during the forecast period. The adoption of electric vehicles in this country is driven by initiatives taken by local governments to encourage investments in electric mobility and the adoption of cleaner technologies.
The Electric Vehicle Association of the Philippines (EVAP) forecasts an annual growth rate of 8-12% with revenue generation of $33.6 million from services and sales of approximately 200,000 electric vehicle units in ‘by 2024. In addition, many small-scale programs have been started. by local government units (LGUs) in the Philippines and businesses, such as resorts, on the adoption of environmentally friendly vehicles.
- Supportive government policies and regulations
- Growing environmental concerns
- Increase in investment by OEMs and transport companies in the micro-mobility space
- High prices and maintenance
- Lower battery prices
- Autonomy anxiety of electric two-wheelers
Company profiles (business overview, financial overview, product portfolio, strategic developments)
- Yamaha Motor Co. Ltd. (Japan)
- Yadea Group Holdings Ltd. (China)
- Niu Technologies (China)
- Fuji-Ta Bicycle Co. Ltd. (China)
- Zhejiang Minimotors Bike Co.Ltd. (China)
- Gogoro Inc. (Taiwan)
- Ather Energy Pvt. ltd. (India)
- Engines of revolt (India)
- Hero MotoCorp Ltd. (India) and Dongguan Tailing Electric Vehicle Co. Ltd. (China).
Asia-Pacific Electric Scooter Market, By Vehicle Type
- electric motorcycle
- Electric scooters and bicycles
Asia-Pacific Electric Scooter Market, By Power Output
- Less than 3.6kW
- 3.6kW to 7.2kW
- 20kW to 100kW
Asia-Pacific Electric Scooter Market, By Battery Technology
- Lithium ion battery
- Sealed lead-acid battery
- Polymer lithium ion battery
Asia-Pacific Electric Scooter Market, By Engine Type
- hub motor
- gearless hub motor
- geared hub motor
- Mid-drive motor
Asia-Pacific Electric Scooter Market, By Charging Type
- Connector charging
- Wireless charging
Asia-Pacific Electric Scooter Market, By End User
- Business companies
- Micro-mobility service providers
- Academic institutes/universities
- Government institutions
- Other end users
Asia-Pacific Electric Scooter Market, By Country
- South Korea
- New Zealand
For more information about this report visit https://www.researchandmarkets.com/r/jwd41r