Electric Mobility Market Size, Share and Growth Analysis (By Product: Electric Bicycle, Electric Skateboard, Electric Car, Electric Motorcycle, Electric Wheelchair, and Electric Scooter; By Battery: NiMH, Sealed Lead Acid, and Li-ion; By Voltage: Less than 24V, 24V, 36V, 48V, and Greater than 48V) - Global Industry Analysis, Trends, Regional Outlook, and Forecast 2021 - 2030

The global Electric Mobility market gathered revenue around USD 151.90 billion in 2020 and market is set to grow USD 718 billion by the end of 2030 and is estimated to expand at a modest CAGR of 22% during the prediction period 2021 to 2030.

Growth Factors:

Prominent rise in the greenhouse gas (GHG) emission along with carbon footprint from the transportation sector particularly from the automobile sector have encouraged various regulatory bodies of several countries to issue policies and laws that favors the adoption of energy-efficient vehicles. Further, increasing adoption of mobility-as-a-service (MaaS) coupled with continuous fall in the price of Li-ion batteries again drives the market growth for electric mobility during the forthcoming years.

Moreover, the automotive industry has undergone technological, economic, and social transformation during the past few years. This is mainly because of the rising awareness about the low maintenance and operational cost of Electric Vehicles (EVs). In addition, EVs have the capability to reduce harmful emission from vehicles that has major contribution towards the rising global warming, this in turn promotes the adoption of EVs across various regions.

Report Scope of the Electric Mobility Market

Report Highlights

Details

Market Size

USD 718 Billion by 2030

Growth Rate

CAGR of 22% From 2021 to 2030

Base Year

2020

Historic Data

2017 to 2020

Forecast Period

2021 to 2030

Segments Covered

Product, Battery, Voltage

Regional Scope

North America, Asia Pacific, Europe, MEAN

Companies Mentioned

Gogoro Inc., BMW Motorrad International, Honda Motor Co. Ltd., Mahindra Group, KTM AG, Ninebot Ltd., Terra Motors Corporation, Suzuki Motor Corporation, Vmoto Limited, Zero Motorcycles, Yamaha Motor Company Limited, ALTA Motors

 

Product Insights

Based on product, the electric mobility market dominated by the electric cars segment accounting for nearly 70% revenue share in the year 2020 and predicted to continue the same trend during the forthcoming period. This is primarily attributed to the high cost of battery-powered electric vehicles in comparison to the cost of e-scooters, motorcycles, wheelchairs, skateboards, and bicycles.

However, electric motorcycle segment exhibits significant growth of approximately 35% during the analysis timeframe because of favorable government policies promoting the adoption of electric two-wheelers such as tax concession and many others.

Battery Insights

Li-ion battery led the global electric mobility market in the year 2020 with more than half of the total market share and exhibits considerable growth during the forecast period. This is mainly because of reducing cost of Li-ion battery packs used in electric vehicles. The cost of Li-ion battery for EVs have reduced by 70% within the past seven years and estimated to further reduce by nearly 50% by 2030 because of technological developments and production scale economies.

On the other hand, nickel-metal hydride (NiMH) battery estimated to rise by a considerable rate during the upcoming years owing to increasing demand for more environmentally conducive along with high-performance batteries. This in turn has made NiMH as one of the most demanded battery type for hybrid electric vehicles (HEVs) and this anticipated to increase its share in the global electric mobility market during the forthcoming years.

Voltage Insights

The 24V segment accounted for approximately 25% of the market revenue share in the global electric mobility market for the year 2020 and estimated to further capture significant share during the analysis period. This is majorly because of superior power output and higher compatibility with electric vehicles.

Moreover, greater than 48V segment predicted to witness prominent growth over the forthcoming years with a CAGR of nearly 25%. This is primarily due to increasing demand for greater than 48V batteries in electric vehicles because of increasing research & development activities for improving speed and distance coverage of EVs.

Regional Insights

The Asia Pacific region is the front-runner in the global electric mobility market in the year 2020 and poised to grow at a rapid rate during the upcoming years. The significant growth of the region is mainly because of the rising adoption of electric vehicles mostly electric scooters and electric bicycles in countries such as Japan, India and China. This is mainly because of rising prices of fuel along with alarming rise in the pollution prominently in developing nations in the region.

On the contrary, European countries in the global electric mobility market poised to register significant growth of nearly 21% over the upcoming period owing to rapid development in the battery charging technology particularly for electric vehicles. For instance, European countries such as France, Demark, Netherlands, and Ireland have taken initiative to prohibit the sale of petrol and diesel-powered vehicles by the year 2030.

Some of the prominent players in the Electric Mobility Market include:

  • Gogoro Inc.
  • BMW Motorrad International
  • Honda Motor Co. Ltd.
  • Mahindra Group
  • KTM AG
  • Ninebot Ltd.
  • Terra Motors Corporation
  • Suzuki Motor Corporation
  • Vmoto Limited
  • Zero Motorcycles
  • Yamaha Motor Company Limited
  • ALTA Motors
  • NYCeWheels
  • Lightning Motorcycles
  • Accell Group
  • Tesla

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

Product Type

  • Electric Bicycle
  • Electric Skateboard
  • Electric Car
  • Electric Motorcycle
  • Electric Wheelchair
  • Electric Scooter
    • Standing/Self-Balancing
    • Retro
    • Folding

Battery Type

  • NiMH
  • Sealed Lead Acid
  • Li-ion

Voltage Type

  • Less than 24V
  • 24V
  • 36V
  • 48V
  • Greater than 48V

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Key Points Covered in Electric Mobility Market Study:

  • Growth of Electric Mobility in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Electric Mobility and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Electric Mobility Consumption Analysis
  •  Electric Mobility Production Analysis
  •  Electric Mobility and Management