Electric Transporters Market Size by Battery, Voltage, Vehicle Type, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
The Electric Transporters Market size was valued at USD 551.85 Billion in 2023 and the total Electric Transporters revenue is expected to grow at a CAGR of 24.3% from 2024 to 2030, reaching nearly USD 2530 Billion.
Electric Transporters Market Overview
In recent years, higher gasoline costs have resulted in increased sales of electric transporters. Electric vehicles are expected to become more mainstream during the forecast period. It is quickly gaining a reputation as a superior and more environmentally conscious mode of transportation. Aside from increasing gasoline prices, the increased operating costs of traditional vehicles are expected to drive demand growth.
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The report also covers the detailed analysis of the global Electric Transporters industry with the classifications of the market based on battery, voltage, vehicle type, and region. Analysis of past market dynamics from 2018 to 2023 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
Electric Transporters Market Dynamics
Customers have been more aware of and concerned with environmental problems such as air quality, noise pollution, and the loss of nonrenewable natural resources in recent years. Governments in a variety of countries are actively taking measures to reduce air pollution and CO2 emissions. The implementation of strict regulations to reduce excessive emissions has compelled automakers to innovate and build environmentally sustainable and effective alternatives.
Governments are incentivizing the use of electric vehicles with a variety of financial and non-financial benefits, including discounts and tax exemptions. Due to factors such as a lack of necessary infrastructure, low knowledge, and the high cost of the commodity, the acceptance rate of such transporters is still comparatively slow. These cars, on the other hand, have a positive impact on the climate.
Similarly, Because of the high cost of transporters, new market opportunities have emerged, such as renting or leasing. Users may reap the benefits of using the product without spending a large amount of money on new rental or leasing operation business models. As a result, the emergence of these business models is expected to drive the growth of the market.
Electric Transporters Market Segmentation Analysis
By Battery, the sealed lead-acid battery segment is expected to grow at the largest CAGR of nearly 4.6% during the forecast period. The segment's rapid growth can be due to its widespread use in China. Electric batteries with a long-range capability and reversible feature are preferred by consumers because they allow for fast charging convenience.
Furthermore, because of its compact size and lightweight, the Li-ion battery form allows for greater room optimization. As a result, the Li-ion battery type is expected to grow at the fastest rate during the forecast period.
The aftermarket services contribute to the majority of the sales channel market share owing to the increasing battery replacement rates at the end of its service. This is expected to create market opportunities for battery manufacturers and suppliers across the globe.
By Voltage, the 48V segment held more than xx% of the electric transporters market in 2023 and is expected to continue its dominance during the forecast period.
High battery voltage ranges provide improved efficiency and greater hybridization options for vehicles. The demand for batteries with high voltage increases as the market demand for high-performance production increases. In electric skateboards and low-end electric bikes, the lower voltage segments such as 24V and 36V are favored. Thus, the market share is smaller. Over the forecast period, the larger than 48V is expected to achieve a significant market share.
By Vehicle Type, the electric scooters segment is expected to grow at the largest CAGR of nearly 4.6% due to the increasing trend of mobile electric scooters for different domestic uses such as hoverboards and segways. In areas such as hospitality, safety, leisure, and tourist sectors, the electric scooters of the segways are gaining momentum. Moreover, the market has been flooding with low-cost hoverboards by Chinese manufacturers, boosting customer preference for such electric scooters.
Competitive Landscape:
Jiangsu Xinri Electric Vehicle Co. Ltd., Terra Motors Corporation, Gogoro Inc., Mahindra GenZe, Vmoto Limited, and BMW Motorrad International are among the main industry competitors. To achieve market presence, key players are extending their manufacturing capacities globally. For example, Gogoro Inc. collaborated with Coup in 2016 to extend its smart electric scooter sharing service in Berlin and other European cities.
Furthermore, the European market has seen a significant decrease in demand for traditional bikes and has boosted its imports of e-bikes, mainly from Chinese manufactures.Due to rapid urbanization and heavy Chinese customer acceptance, the Asia Pacific region accounted for more than 42.0% of the global demand in 2018. Furthermore, the presence of a large customer base in the Asia Pacific has prompted manufacturers to explore the rental service market model. Furthermore, due to their high processing capacities and sufficient raw materials, China and Taiwan are prime locations for the manufacture of these vehicles.
North America is expected to emerge as the most promising field during the forecast era. The governor of California's target of meeting 1.5 million zero-emission cars by 2030 is adding to regional demand.
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| Global Electric Transporters Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 551.85 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 24.3% | Market Size in 2030: | USD 2530 Bn. |
| Segments Covered: | by Battery | Sealed Lead Acid NiMH Li-Ion |
|
| by Voltage | 24V 36V 48V |
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| by Vehicle Type | Electric scooter Electric bike Electric skateboards |
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Electric Transporters Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Electric Transporters Market, Key Players
1. BMW Motorrad International
2. Mahindra GenZe
3. Terra Motors Corporation
4. Vmoto Limited
5. Gogoro Inc
6. Jiangsu Xinri Electric Vehicle Co. Ltd
7. Hama GmbH & Co KG
8. All cell Technologies LLC
9. KIWANO
10.BOXX Corporation
11.Razor USA LLC
12.Honda Motor Co. Ltd
13.All Cell Technologies LLC
14.Ninebot Inc
15.Air wheel Holding Ltd
Frequently Asked Questions:
1. Which region has the largest share in Global Electric Transporters Market?
Ans: North America region holds the highest share in 2023.
2. What was the Global Electric Transporters Market size in 2023?
Ans: The Global Electric Transporters Market size was USD 551.85 Billion in 2023.
3. What segments are covered in Global Electric Transporters market?
Ans: Global Electric Transporters Market is segmented into Battery, Vehicle Type, Voltage and Region.
4. Who are the key players in Global Electric Transporters market?
Ans: The important key players in the Global Electric Transporters Market are BMW Motorrad International,Mahindra GenZe,Terra Motors Corporation,Vmoto Limited,Gogoro Inc,Jiangsu Xinri Electric Vehicle Co. Ltd,Hama GmbH & Co KG.
5. What is the study period of this market?
Ans: The Global Electric Transporters Market is studied from 2023 to 2030.