Electric Mobility Market Size, Share & Trends Analysis Report By Product (Electric Scooter, Electric Bicycle, Electric Skateboard, Electric Motorcycle, Electric Car, Electric Wheelchair), By Battery, By Voltage- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Electric Mobility market gathered revenue around USD 125,058.9 Million in 2020 and market is set to grow USD 489,345.8 Million by the end of 2027 and is estimated to expand at a modest CAGR of 22.0% during the prediction period 2021 to 2027.

Growth Factors:

Electric mobility, or E-Mobility or Electro Mobility is increasingly accounting for a significant share of the global automotive industry and is changing the way mobility as a concept is conceived by the end-user. Governments across the globe are proactively adopting strategies promoting the adoption of electric vehicles (EVs) with an aim of reach the goals related to climate change, dependence on oil, local air quality, and industrial development. Government initiatives aimed at reducing the global carbon footprint by minimizing the consumption of conventional fuel, bringing down the cost of environment-friendly and high-capacity batteries, and the growing consumer preference for shared mobility are expected to drive the market over the forecast period.

Advances in E-sharing mobility services such as shared taxi, ride sharing, and E-bike and car sharing are expected to increase the consumption of EVs use globally. However, a lack of consumer awareness pertaining to maintenance cost of EVs is a primary barrier to their widespread adoption. Although the upfront cost of an EV exceeds that of cars powered by IC engines, the reduction in battery cost have ultimately reduced the costs of EVs to a great extent over the past four years. These favorable trends with respect to cost, combined with changing consumer preferences, are likely to enhance the adoption of EVs, thereby augmenting the growth of the global market for electric mobility.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Electric Mobility market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Electric Mobility market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD 489,345.8 Million by 2027
Growth Rate CAGR of 22.0% From 2021 to 2027
Base Year 2020
Forecast Period 2021 to 2027
Historic Data 2017 to 2020
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Product, battery, voltage and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Vmoto Limited ABN; Tesla; Terra Motors; Continental AG; ALTA MOTORS; Accell Group; Nissan Motor Corporation; Zero Motorcycles, Inc.; Kinetic Green Energy & Power Solutions Ltd..

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Electric Mobility market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

By Product analysis:

In terms of product, the electric car segment accounted for over 68.1% of the revenue share of the market for electric mobility in 2018 and is estimated to retain its dominance over the forecast period. This can be attributed to the higher rate of adoption and high cost of battery EVs as compared to the cost of E-motorcycles, scooters, skateboards, wheelchairs, and bicycles. Moreover, the increasing demand for EVs spurred by policies that encourage fleet owners and municipalities to purchase an eco-friendly and low-maintenance vehicle.

The electric motorcycle segment is expected to register a considerable CAGR of 34.6% from 2021 to 2027. Government regulatory bodies are encouraging the adoption of electric two-wheelers by offering tax concession, which is expected to contribute to the promising growth prospects of the global market for electric mobility. Several companies have also started investing in the e-motorcycle industry, which is likely to further contribute toward creating a competitive business environment for e-motorcycles shortly.

By Battery analysis:

In terms of battery, the market for E-mobility is segmented into sealed lead acid, Nickel Metal Hydride (NiMH), and lithium-ion (Li-ion). The Li-ion segment dominated in 2020 and accounted for over 49% of the market. The segment is expected to register a promising CAGR of 23.7% over the forecast period. The cost of Li-ion battery packs for EVs has declined by over 70.4% in the past 7 years and is predicted to further reduce by around 50.2% till 2030 owing to production scale economies and technological developments. The increasingly economical nature of these batteries, coupled with their higher energy densities as compared to sealed lead acid and NiMH batteries, is expected to continue to drive their demand. Moreover, remarkable growth prospects exist in the Li-ion market as battery suppliers and manufacturers invest in R&D activities in a bid to offer safe, reliable, and cheap battery solutions with improved energy densities.

By Voltage analysis:

The electric mobility market can be categorized by voltage into less than 24V, 24V, 36V, 48V, and greater than 48V. The 24V segment accounted for over 25.2% of the electric mobility revenue share in 2020. These batteries provide superior power output and possess high compatibility with EVs. Their demand is likely to steadily rise and the segment is likely to continue to account for a notable share in the market by the end of the forecast period as well.

The greater than 48V segment is expected to witness significant growth over the forecast period, registering a CAGR of 24.6%. The overall demand for EVs equipped with batteries greater than 48 voltage is anticipated to substantially rise shortly owing to constant research and development activities focusing on improving the distance coverage and speed of EVs. The segment is expected to account for the dominant share of the market by the end of the forecast period.

Regional analysis:

The Asia Pacific market was valued at USD 67,450.6 million in 2020. The regional market for electric mobility is anticipated to dominate owing to the higher rate of adoption of EVs, specifically electric bicycles and electric scooters, in economies such as China and Japan. This is owing to an increase in pollution and the rapid rise in fuel prices. Asian economies such as China and Japan are also amongst the leaders in terms of production as well as sales of EVs. Besides, China is expected to dominate the regional market over the forecast period as most of the EVs demand is fulfilled by China.

The European market for electric mobility is poised to register a CAGR of 21.9% over the forecast period. Rapid developments in the pan-European battery charging network for BEVs are expected to drive the BEVs in European countries shortly. For instance, EU member states such as Denmark, France, Ireland, and Netherland have taken initiatives to ban the sales of new diesel- and petrol-powered vehicles by 2030. Such factors are expected to propel the market for electric mobility in the region.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Electric Mobility Market include: Vmoto Limited ABN; Tesla; Terra Motors; Continental AG; ALTA MOTORS; Accell Group; Nissan Motor Corporation; Zero Motorcycles, Inc.; Kinetic Green Energy & Power Solutions Ltd

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 2027 and covers subsequent region in its scope:

  • By Product
    • Electric Scooter
    • Electric Bicycle
    • Electric Skateboard
    • Electric Motorcycle
    • Electric Car
    • Electric Wheelchair
  • By Electric Scooter by Product
    • Retro
    • Standing/Self-Balancing
    • Folding
  • By Battery
    • Sealed Lead Acid
    • NiMH
    • Li-ion
  • By Voltage
    • 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

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Electric Mobility market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Electric Mobility market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Electric Mobility markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Electric Mobility Market Study:

  • Growth of Electric Mobility in 2021
  • Market Estimates and Forecasts (2017-2027)
  •  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