The global electric transporters market is anticipated to reach USD 69.5 billion by 2026 according to a new study published by Polaris Market Research. The report ‘Electric Transporters Market By Product Type (E-Scooter, E-Skateboard, E-Bicycle, E-Unicycle, E-Moped Scooter, Hoverboard, Onewheel, Segway PT), By Battery (Nickel-metal Hybrid (NiMH), Sealed Lead Acid, Lithium ion (Li-ion)), By Voltage (24V, 36V, 48V) By Regions, Segments & Forecast, 2018 – 2026’ provides insights on the current market scenario and the prospects.
Electric transporters that include all types of e-vehicles are the primary trend within the automobile industry. These products boost the energy efficiency, require no direct fuel combustion and rely completely on the most diversified energy source carrier (electricity) which contributes to a wide range of transport policy goals. Increasing use of electric transporters will lead to energy security, rising quality of air, lesser noise pollution, lesser emission of greenhouse gases in concert with low-carbon power generation mix.
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Moreover, as e-vehicles are the trending innovating clusters in the automotive sector, these products have substantial potential to enhance industrial and economic competitiveness, hence attracting investments wherever major markets can be developed in the near future. Significant industry uptake of this segment of automobiles has occurred in the recent years. On- going commitments and support for further development of electric transporters from the automotive industry and policy makers suggest that the trend of EV will not abate in the next decade.
The increasing sales volumes of electric transporters along with the growing competition in the development of noble technologies are most likely to contribute continuous reduction in manufacturing cost of batteries, which is the most primary cost component of e-transporters. These costs cutting EV technologies have further strengthen their competitiveness compared with the internal combustion engines. This reinforces the case for road e-vehicles that are continuously occupying an expanding market share and perhaps a leading role in the evolution of transportation across all modes.
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The global industry is recently influenced by some of the major developments in the European Union, China, the U.S. and the India. In 2017, the EU, China and India that together accounted for roughly 60% of the worldwide LDV market proposed and later implemented significant changes in policies that are likely to accelerate the phase of e-transporters and share their deployment in a global scale. On the flip side of it, recently announced policies on the rollback of federal regulations on the fuel economy of cars in the U.S. are anticipated to have negative influence on the uptake of electric cars.
Asia Pacific was the leading regional market in 2017, with China accounting for the major share. In 2017 September, the Chinese government issued a newly framed energy vehicle credit mandate that took effect in 2018. This mandate sets a new and minimum benchmark for the production of electric transporters with some flexibility offered through credit trading mechanism. The country has emerged as the major hub for production of these products not only because of its supporting policy framework but also for its low cost production rates. Reflecting the cost difference in battery cost electric vehicles in the country are much less expensive. Application of lead acid batteries leads to an estimated cost of USD 167 of an electric bike in the country. On the contrary, these products cost at an average of USD 815 in the U.S. and an average cost of USD 1,546 in the Western Europe countries, which reflects to the different choices in the battery chemistry.
Some of the industry participants include F-wheel DYU, Fuji-Ta, Baidu, Airwheel, Goldenwheel, Robstep, Hybike, Bafang (8FUN) Motor, Geoby, Guewer, Benelli, BMW Bicycles, BH, ECO Movement, Electric Bike Plus, Fully Charged, Mahindra GenZe and Kalkhoff.
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Polaris Market Research has segmented the global Electric Transporters market on the basis of product type, battery, voltage and region:
Electric Transporters Market Size and Forecast by Product Type
Electric Transporters Market Size and Forecast by Battery
Electric Transporters Market Size and Forecast by Power Ratings
Electric Transporters Regional Outlook (Revenue, USD Million, 2015 – 2025)
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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.
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