Electric Mopeds Market Size Worth $16 billion by 2030: IndustryARC

The Global Electric Moped Market size is predicted to reach $16 billion by 2030, growing at a CAGR of 12% during the forecast period 2024 – 2030 according to the latest market research report published by IndustryARC. The rise of fuel prices along with government attention and incentives to Electric Mopeds are fueling the growth of the Electric Mopeds Market during the forecast period, finds IndustryARC in its recent report, titled “Electric Moped Market Size, Share & Trends Analysis Report – By Type (Classic Electric Mopeds, Off-Road Mopeds, Urban Commuters, Light Cargo Haulers, Others), By Battery Types (Lead Acid Batteries, Lithium-Ion (Li-ion) Batteries, Nickel Metal Hydride Batteries (NiMH)), By Motor Type (Hub Motor, Mid Drive Motor), By Battery Capacity (Low Capacity (Less than 1.5kWh), Medium Capacity (1.5kWh – 3kWh), High Capacity (3kWh – 5kWh), Extra High Capacity (More than 5kWh)), By Motor Power (Less than 750W, 750W – 1500W, More than 1500W), By Geography – Global Opportunity Analysis & Industry Forecast, 2024 – 2030”

The Asia Pacific has taken the lead globally in the electric moped industry, propelled by significant growth in both production and demand within the region. The dominance of the market in this region can be attributed to several factors. These include the construction of extensive electric vehicle infrastructure in developed and developing countries like China, India, and Japan, high levels of vehicular and public transit congestion, and the growing stringency of emission regulations for gasoline mopeds, motorcycles and scooters.

The urban commuter type of mopeds dominated the market, boasting a balance between performance, range and affordability. Designed for city commuting, these electric mopeds often have sleek, contemporary designs, lightweight frames, and advanced features like regenerative braking, integrated lights, and digital displays. Their compact size makes them ideal for navigating through traffic and finding parking in crowded urban areas. For example, according to the World Bank, nearly 70% of world’s population will live in cities by 2050.

Governments worldwide are actively developing the charging infrastructure required for adopting electric mopeds. In addition, the federations are offering overall cost benefits with respect to electric mopeds by offering incentives, schemes, and subsidies. For example, California residents can take advantage of the Clean Vehicle Rebate Project, which provides rebates of up to $2,000 for eligible electric mopeds depending on the moped’s battery capacity. Similarly, the UK offers the Plug-in Grant scheme, which can provide electric moped buyers with a maximum grant of £1,500 or 20% of the moped’s price, whichever is lower. As a result, consumers are more inclined toward the use of electric mopeds considering the benefits and eco-friendly nature. Mopeds equipped with electric motors help in maintaining higher speed more effectively as well as make the ride more comfortable on rough roads.

The Lithium-ion Battery segment is projected to lead the market in the coming years. These batteries weigh less than alternatives like lead-acid batteries. Lithium-ion batteries can be recharged multiple times during their lifespan, a feature expected to drive growth in the Electric Moped Market. Their high-power output enhances the riding experience, making it more enjoyable and responsive. For instance, in 2023, the production capacity of lithium-ion battery in India was around 18 Gigawatt hours. It was estimated the value will increase to almost 150 Gigawatt hours in 2030.

Electric mopeds, like other electric vehicles, rely on a network of charging stations for refueling. These stations can vary from slow-charging options installed at home or workplaces to fast-charging stations located in public areas such as shopping centers, parking lots, and gas stations. The availability of a reliable network of charging stations is essential to alleviate range anxiety and provide users with the confidence to use their electric mopeds for longer trips. For instance, according to International Energy Agency (IEA), at the end of 2022, there were 2.7 million public charging points worldwide, more than 900 000 of which were installed in 2022, which was about a 55% increase on 2021 stock. City planners and policymakers need to consider the integration of electric moped charging infrastructure into urban planning initiatives. This includes zoning regulations that facilitate the installation of charging stations in public spaces, as well as incentives for property developers to include charging infrastructure in new residential and commercial developments. Strategic placement of charging stations in densely populated areas and along major transportation routes can encourage the adoption of electric mopeds as a viable urban mobility solution.

One key opportunity in the electric moped market is the integration of advanced connectivity features. By leveraging IoT technology and mobile apps, manufacturers can offer features such as real-time vehicle diagnostics, remote monitoring, and over-the-air updates. This connectivity enhances user experience, improves vehicle maintenance, and enables innovative services like predictive maintenance and personalized ride settings. Consequently, the electric moped trend is poised to drive market growth in the foreseeable future.

• The COVID-19 pandemic initially disrupted the electric moped market, causing a decrease in sales due to economic uncertainty and restrictions on movement. However, as people sought safer and more sustainable transportation options, the market saw a resurgence with growing demand for personal electric vehicles. Essentially, the electric moped industry reacted positively to the COVID-19 pandemic.

• In Ukraine, the crisis heightened geopolitical tensions, impacting supply chains and causing fluctuations in market confidence. Uncertainty over trade routes and political instability have hindered market growth temporarily, but long-term prospects depend on stabilizing the situation and restoring consumer confidence in the region.

• Ukraine is a major exporter of raw materials and components used in various industries, including electronics and manufacturing. Disruptions to the supply chain originating from Ukraine has led to delays or shortages in the production of electric mopeds and their components.

The key companies profiled in the Electric Moped Market Report are listed below:

Battery Market: The Battery Market size is projected to grow at a CAGR of 8.21% from 2024 to 2030. The rapid increases in battery technology are gaining demand mostly from consumer electronics. Technologies such as grid power, industrial, and domestic storage are boosting the prospects of the battery market.

Electric Vehicle Market: The Electric Vehicle Market size is projected to grow at a CAGR of 27.19% from 2024 to 2030. Initiatives by the government to promote electric vehicles and increase in demand for fuel-efficient and low emission vehicles is significantly boosting the electric vehicle market. 

Electric Vehicle Charging Services Market: The Electric Vehicle Charging Services Market size is projected to grow at a CAGR of 5.36% from 2024 to 2030. The rising demand for electric vehicles is significantly boosting the demand for EV charging services.

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