The growth of this market is attributed to favorable government policies and regulations in southeast Asian countries, the rising environmental concerns, and the increasing investments by OEMs & ride-hailing companies in the micromobility space. In addition, the decreasing prices of batteries offer significant opportunities for the growth of this market. However, the high prices and maintenance is expected to hinder the growth of this market. Furthermore, range anxiety of electric two-wheelers is the challenge expected to hamper the growth of this market.
China held the largest market share during the forecast period. The large share of China is mainly attributed to government support, the increasing number of charging stations, the increasing strategic business developments by energy companies, rising fuel prices, and the growing awareness regarding environmental concerns.
The Asia-Pacific Electric Scooters Market is expected to reach $6,25,025.7 million by 2029 at a CAGR of 28.9% during the forecast period, 2022 to 2029. By volume, this market is expected to reach 2,66,037.6 thousand units by 2029 at a CAGR of 26.4% during the forecast period, 2022 to 2029.
Here are the top 10 companies in Asia-Pacific Electric Scooters Market
Yamaha Motor Co., Ltd.
Founded in 1955 and headquartered in Shizouka, Japan, Yamaha Motor Co., Ltd. is a Japanese manufacturer of motorcycles and marine products, such as boats and outboard motors, and other motorized products. Yamaha Motor Co., Ltd. provides a wide range of products, such as motorcycles, outboards, wave runners, boats, golf cars, e-bike systems, power products, industrial robots, SMT assembly systems, performance dampers, clean water supply systems, OEM casting & forging, cell picking & imaging systems cell handler, and electric motors. With its subsidiaries and a strong distribution network, the company has its global presence across Asia, North America, Europe, Japan, and other regions.
The company operates through five reportable segments: Land Mobility, Marine Products, Robotics, Financial Services, and Others. The company provides drive units, display & switch, and battery & chargers for e-bikes. Yamaha Motor Co., Ltd. is recognized as a pioneering leader in e-bikes, with over 2 million sales of Yamaha e-bikes in Japan.
Founded in 2014 and headquartered in Beijing, China, Niu Technologies is a leading provider of smart urban mobility solutions. NIU is a global brand in urban mobility that embraces technology, style, and freedom. Niu currently streamlined product portfolio consisting of seven series, NQi, MQi, UQi, NIU Aero, Gova, RQi, TQi, with multiple models and specifications for end consumers, such as NIU Power accessories and NIU AERO outdoor sports bicycles. With its subsidiaries and a strong distribution network, the company has its global presence across PRC, Europe, and other regions.
The company has three reportable business segments: E-scooter Sales, Accessories and Spare Parts Sales, and Service revenues. As of December 31, 2020, Niu Technologies owned 379 patents, 199 registered trademarks, and 26 copyrights related to various aspects of operations. The company expanded its business with retail stores in 38 countries, including Asia, Europe, and Latin America. As of December 2020, the company had a headcount of 623 employees globally.
Founded in 2001 and headquartered in Wuxi, China, Yadea Group Holdings Ltd. is a high-end electric two-wheeled vehicle manufacturing enterprise. The company sells a wide range of electric bicycles, electric motorcycles, and their components and accessories. Yadea sells different types of e-scooters, such as city, sport, express, tricycle, and kick-scooters and different types of e-bikes, such as MTB, urban, trekking, fat-bike, and folding. The company is increasing its influence in the research & development of core technologies for electric two-wheeled, including power systems, energy systems, intelligent systems, safety systems, and appearance design.
The company operates through four reportable segments: Electric Scooters, Electric Bicycles, Batteries and Chargers, and Electric Two-Wheeled Vehicle Parts. Yadea Group has seven production bases in Tianjin, Jiangsu, Zhejiang, Guangdong, Chongqing, Anhui, and Hanoi in Vietnam, and its sales network covers 83 countries worldwide. The company has 670+ patents along with over 1889 distributors worldwide. As of December 2021, the company had a headcount of 9,174 employees globally.
Fuji-Ta Bicycle Co., Ltd.
Founded in 1992 and headquartered in Tianjin, China, Fuji-Ta Bicycle Co., Ltd. is a private company and the largest bicycle manufacturer in China. The company provides a wide range of products, including mountain bikes, electric bikes, road bikes, folding bikes, city bikes, children’s bikes, scooters, bicycle parts, and outdoor toys. Fuji-Ta Bicycle manufacturers have five production and processing bases and nine major subsidiaries. With its subsidiaries and a strong distribution network, the company sells its products in more than 50 countries across North America, Latin America, Europe, Australia, and Asia.
Fuji-ta Group has the largest modern frame production base globally and owns over 60 bicycle frame production lines, including over 30 hi-ten steel frame lines and over 30 aluminum, carbon fiber lines, and new-material frame lines. The company also focuses on frame manufacturing, spraying & labeling, cycle assembly, testing laboratory, and e-bike laboratory.
Zhejiang Minimotors Bike Co., Ltd.
Founded in 1999 and headquartered in Zhejiang, China, Zhejiang Minimotors Bike Co., Ltd. is a private company that manufactures e-scooters. Under the ‘Dualtron’ brand, the company exports its full range of off-road mobility products worldwide. The company categorizes its products into Dualtron, Speedway, and Futecher brands.
Meticulous Research in its latest publication on Asia-Pacific Electric Scooter Market has predicted the growth of 28.9% during the forecast year 2022–2029.
Founded in 2011 and headquartered in Taoyuan, Taiwan, Gogoro Inc. is a private company that develops battery swapping refueling platforms for urban electric two-wheel scooters, mopeds, and motorcycles. Gogoro Inc. provides solutions for electric mobility, smart scooters, battery-powered vehicles, technology, energy, global transportation, design, energy network, eco-friendly transport, and urban planning.
Founded in 2019 and headquartered in Haryana, India, Revolt motors is a private Indian electric vehicle company that develops electric motorcycles, electric mobility, and smart mobility. Revolt introduced India’s first AI-enabled motorcycle without compromising the performance or aesthetics of a regular ride. With its strong distribution network, the company has its hubs in different states in India, including Delhi, Pune, Ahmedabad, Hyderabad, Chennai, and Mumbai.
Ather Energy Pvt. Ltd.
Founded in 2013 and headquartered in Bangalore, India, Ather Energy Pvt. Ltd. is a private Indian electric vehicle company that focuses on two-wheelers, electric vehicles, battery management, smart technology, manufacturing, intelligence in 2W, and software development. The company also established an electric vehicle charging infrastructure across the country called Ather Grid. The company currently has a presence in 27 cities across 15 states and expects to increase its footprint to 40 cities.
Hero MotoCorp Ltd.
Founded in 1984 and headquartered in New Delhi, India, Hero MotoCorp Ltd., formerly known as Hero Honda, is an Indian multinational motorcycle and scooter manufacturer, providing customers with a wide range of two-wheelers that ensure both style and comfort. Hero Electric is a pioneer and market leader in the Indian Electric two-wheeler industry. With its subsidiaries and a strong distribution network, the company has a strong domestic presence as well as in other countries.
The company engages in activities related to the development, design, manufacture, assembly, and sale of vehicles, as well as the sales of related parts and accessories through its Automotive segment. Hero Electric has more than 500 dealers and a presence in more than 25 states in India. As of March 2021, the company had a headcount of 8,599 employees globally.
Dongguan Tailing Electric Vehicle Co., Ltd.
Founded in 2004 and headquartered in Shenzhen, China, Dongguan Tailing Electric Vehicle Co., Ltd. (TAILG) is a private company that specializes in R&D, manufacturing, sales, and services of new energy electric vehicles. Its product portfolio consists of electric bikes, electric scooters, electric special bikes, electric tricycles, and other vehicles. The company has its electric vehicle R&D center and six production plants across Shenzhen, Dongguan, Wuxi, Tianjin, Xuzhou, and Chengdu.
TAILG has over 420 patents for high-performance electric vehicles, automatic electric vehicles, and cloud electric vehicles. The company serves more than 75 countries, including the U.S., South Korea, Australia.
Amidst this crisis, Meticulous Research® is continuously assessing the impact of the COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on this industry here- Research PDF
Authoritative Research on the Asia-Pacific Electric Scooter Market- Global Opportunity Analysis and Industry Forecast (2022-2029)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
- Impact of Covid 19
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
Please download report pages and learn more:https://www.meticulousresearch.com/download-sample-report/cp_id=5242