Global Electric Moped Market Size is expected to experience a CAGR of 9.7% through 2024 - 2031, according to industry projections.
The "Electric Moped Market" has experienced impressive growth in recent years, expanding its market presence and product offerings. Its focus on research and development contributes to its success in the market.
Electric Moped Market Overview and Report Coverage
An Electric Moped is a type of electrically powered two-wheeler vehicle that is commonly used for short distance commuting. It is an eco-friendly and cost-effective alternative to traditional gas-powered mopeds, offering lower maintenance costs and zero emissions. The rising awareness about environmental conservation and the increasing adoption of electric vehicles are driving the growth of the Electric Moped Market.
The global Electric Moped Market is expected to grow at a CAGR of % during the forecasted period (2024-2031). The market is witnessing significant growth due to advancements in battery technology, government incentives for electric vehicle adoption, and the growing need for sustainable transportation solutions.
Key market trends in the Electric Moped Market include the introduction of technologically advanced and connected electric mopeds, the expansion of electric moped sharing services in urban areas, and the development of lightweight and portable electric mopeds for easy storage and transportation. Overall, the future outlook of the Electric Moped Market looks promising, with increasing demand for eco-friendly and energy-efficient transportation options driving market growth.
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Market Segmentation
The Electric Moped Market Analysis by Types is segmented into:
- Sealed Lead Acid Battery
- Lithium Battery
The electric moped market can be categorized into two main types based on the type of battery used: Sealed Lead Acid Battery and Lithium Battery. Sealed Lead Acid Battery moped models are generally more affordable but have a shorter lifespan and slower charging times compared to Lithium Battery models. On the other hand, Lithium Battery moped models are more expensive upfront but offer longer lifespan, faster charging times, and higher energy efficiency, making them a preferred choice for many consumers looking for a more premium electric moped experience.
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The Electric Moped Market Industry Research by Application is segmented into:
- 36V
- 48V
- 72V
The electric moped market offers a range of options with different voltage levels such as 36V, 48V, and 72V. These voltages determine the power and speed of the moped. A 36V moped is suitable for short commutes and urban areas, providing a moderate level of power. A 48V moped offers increased power and speed, making it suitable for longer distances. A 72V moped delivers the highest power and speed, ideal for heavy-duty use and longer journeys. Each voltage level caters to specific market applications based on individual needs and preferences.
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In terms of Region, the Electric Moped Market available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Electric Moped market is witnessing significant growth worldwide, with key regions including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In North America, the United States and Canada are experiencing increased demand for electric mopeds due to rising environmental concerns and government incentives. In Europe, countries like Germany, France, ., Italy, and Russia are leading the market with supportive regulatory frameworks. Asia-Pacific, particularly China, Japan, South Korea, India, Australia, Indonesia, Thailand, and Malaysia, is a major market due to rapid urbanization and increasing adoption of electric vehicles. Latin America, including Mexico, Brazil, Argentina, and Colombia, is also showing promising growth. In the Middle East & Africa, Turkey, Saudi Arabia, UAE, and South Korea are emerging markets. Key players like Bajaj Auto Limited, GenZe by Mahindra, Gogoro Inc., Greenwit Technologies Inc., Hero Electric, JOY E-BIKE, Okinawa Autotech Pvt. Ltd, Piaggio and C. SpA, PURE EV, and TVS Motor Company are driving market growth with innovation, product development, and strategic partnerships.
Electric Moped Market Emerging Trends
Some of the emerging and current trends in the global electric moped market include the increasing adoption of electric vehicles due to environmental concerns and government incentives, the growing popularity of electric two-wheelers for urban commuting, and the rise of electric scooter sharing services. Other trends include advancements in battery technology leading to improved range and performance, the integration of smart features such as GPS tracking and connectivity options, and the development of sleek and stylish designs to attract younger consumers. Overall, the electric moped market is expected to continue expanding as more people look for sustainable and convenient transportation options.
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Major Market Players
- Bajaj Auto Limited
- GenZe by Mahindra
- Gogoro Inc.
- Greenwit Technologies Inc.
- Hero Electric
- JOY E-BIKE
- Okinawa Autotech Pvt. Ltd
- Piaggio and C. SpA
- PURE EV
- TVS Motor Company
Bajaj Auto Limited is one of the leading players in the electric moped market, offering a range of electric scooters. The company has seen significant market growth in recent years, with a focus on providing affordable and eco-friendly mobility solutions. Bajaj's electric scooters have gained popularity among consumers for their stylish designs and reliable performance. The company has also introduced innovative features such as fast charging technology to cater to the growing demand for electric vehicles.
Gogoro Inc. is another key player in the electric moped market, known for its smart electric scooters and battery-swapping infrastructure. The company has been expanding its presence globally and has established partnerships with various cities to promote sustainable urban transportation solutions. Gogoro's scooters are equipped with advanced technology features such as smartphone connectivity and digital dashboard, making them a popular choice among tech-savvy consumers.
TVS Motor Company is a prominent player in the electric moped market, offering a range of electric scooters under its brand. The company has seen steady market growth with a focus on introducing electric vehicles that are affordable and performance-oriented. TVS's electric scooters have gained traction in the market for their high-quality build and efficient electric powertrains.
According to industry reports, the global electric moped market is expected to witness significant growth in the coming years, driven by increasing awareness about environmental conservation and government initiatives promoting electric vehicles. The market size is estimated to reach USD billion by 2027, with key players such as Bajaj Auto Limited, Gogoro Inc., and TVS Motor Company leading the market. Sales revenue for these companies varies, with Bajaj Auto Limited generating around USD 4.7 billion in revenue in 2020.
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