Global Electric Mobility Market by Product (Electric Car, Electric Motorcycle, Electric Scooter, Electric Skateboard, Electric Wheelchair, Electric Bicycle) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global electric mobility market was worth USD 125,057.3million in 2018. It is projected to grow at a compound annual rate (CAGR of 21.6%) between 2019 and 2025. Global and state-level regulators are urging the adoption of more energy-efficient vehicles due to rising greenhouse gas emissions and the carbon footprint of the transportation and automotive industries. Moreover, the growing adoption of Mobility-as-a-Service (MaaS) and the continuously declining costs of high capacity Li-Ion batteries, which, in turn, brings down the overall vehicle cost, are also driving the increased adoption of electric vehicle (EV).

The automotive industry is experiencing a social, technological, economic and social transformation. This is mainly due to increased awareness of the lower operating and maintenance costs of EVs as well as their ability to reduce harmful emissions that contribute towards global warming. These positive trends will likely work in favor of the market for EVs in the next years, driving the market to electric mobility (or E-mobility).

In addition to tax incentives and subsidies offered to vehicle manufacturers and buyers, governments from various countries are investing in the development EV-charging infrastructure. To increase e-vehicle use in India, the government recently announced tax benefits for e-vehicle purchases. Like many other countries around the world, the Indian government is currently implementing regulations to reduce the production of internal combustion engines vehicles. This will help increase the potential growth of E-mobility.

Others countries, such as South Korea and Portugal, Germany and Spain, have set similar targets to include EVs into their private and public vehicle fleets. South Korea plans to have 200,000 electric vehicles on the roads by 2020. Portugal is targeting 750,000 EVs and Germany is targeting 1 million. Some countries, such as South Africa, Finland, Malaysia, and Finland, have established their respective e–vehicle targets by 2030. These factors will help to boost the growth prospects for the electric mobility market over the forecast period.

Automobile companies are working hard to launch E-car models. General Motors, for example, is planning to launch 100 E-car models in 2020. The market for electric mobility will benefit from the growing popularity of services like car-sharing, ride sharing, E scooter sharing, E bike sharing, E motorcycle sharing and ride-hailing. These services launch times can vary greatly depending on the country and city, as well as local transportation policies and charging infrastructure.

However, prominent automotive OEMs like Ford Motor Company are investing in companies that offer electric mobility sharing services. To tap into a greater share of the electric mobility market, these companies are also investing in capacity expansions and acquisitions. In September 2018, Govecs AG signed an agreement to supply 6,000 electric scooters to a U.K. company that is using a shared mobility model. Govecs AG has been able to enter the U.K. market through this deal. To expand its vehicle fleet, Bird Rides, Inc. purchased Scoot Rides, Inc. in June 2019.

Product Insights

The electric car segment was responsible for 68% of the market share for electric mobility in 2018. It is expected to continue its dominance for the forecast period. This is due to the high adoption rate and high price of electric cars, as well as the fact that they are more affordable than E-motorcycles and scooters, skateboards and wheelchairs. Policies that encourage fleet owners to buy eco-friendly, low-maintenance vehicles are another factor in the rising demand for EVs.

From 2019 to 2025, the electric motorcycle market is expected to grow at a remarkable 34.6% CAGR. The government is encouraging electric two-wheelers through tax concessions. This will help to boost the potential growth prospects for the global market. Many companies have started investing in e-motorcycle manufacturing, which will help create a favorable business environment. Bharat Forge recently purchased a 45% share in Tork Motors (an E-motorcycle manufacturer company). TVS Motors Company Ltd. also acquired 25.76% in Ultraviolette Automotive Pvt. Ltd. in August 2018.

Battery Insights

The market for E-mobility can be divided into three segments: sealed lead acid (SLA), Nickel Metal Hydride(NiMH) and lithium-ion [Li-ion]. In 2018, the Li-ion market dominated and accounted for more than 49%. This segment is forecast to grow at a promising 23.8% CAGR over the forecast period. Over 70% has been saved in the last 7 years on EVs. This is due to technological advancements and production scale economies. These batteries are expected to continue to be in demand due to their lower cost and higher energy density than sealed lead acid or NiMH batteries. There are also remarkable growth opportunities in the Li-ion industry as manufacturers and suppliers invest in R&D to provide safe, reliable and affordable battery solutions with higher energy densities.

As consumers seek high-performance, environmentally-friendly batteries, the nickel-metal-hydride (NiMH), segment will see significant growth. The technology of choice to power hybrid electric vehicles (HEVs), NiMH batteries, will continue to dominate the market for electric mobility. These batteries offer many benefits, including lightweight, high-charge density and high charging-discharging efficiency. Battery manufacturers are releasing improved NiMH batteries that offer longer life spans, higher efficiency and lower costs. This makes them a viable alternative to EVs.

Voltage Insights

You can categorize the electric mobility market by voltage into less that 24V and 24V, 36V and 48V, respectively, and more than 48V. In 2018, the 24V segment made up more than 25% of electric mobility's revenue share. These batteries are highly compatible with EVs and have superior power output. They are expected to see a steady rise in demand and will continue to hold a significant share of the market through the forecast period.

The segment greater than 48V is expected to see significant growth during the forecast period. It will register a CAGR 24.5%. Due to continuous research and development activities focusing primarily on improving the speed and distance coverage of EVs, it is expected that there will be a significant increase in demand for EVs with greater than 48-voltage batteries. This segment is expected to hold the largest market share by the end of this forecast period.

Regional Insights

In 2018, the Asia Pacific market was worth USD 67,396.6 millions. Due to higher adoption of electric mobility in countries like Japan and China, the region will be the dominant market. This is due to the rapid rise of fuel prices and an increase in pollution. Japan and China are among the top EV producers. China will be the dominant market in the region over the forecast period, as it supplies most of the EVs needed.

Over the forecast period, the European market for electric mobility will experience a 21.8% CAGR. The rapid development of the pan-European network for charging batteries for BEVs is expected to accelerate the adoption of BEVs by European countries. EU member countries such as Denmark and France have taken measures to ban new petrol- and diesel-powered vehicles by 2030. These factors are expected to drive the regional market for electric mobility.

Market Share Insights & Key Companies

Market leaders are taking steps to capitalize on the untapped potential of emerging markets. Mahindra Electric Mobility Limited (SmartE) and a memorandum were signed to promote last-mile electric mobility solutions for India. To improve the vehicle's distance range and power-to-weight ratio, companies are investing heavily in battery technology development.

Startups and new entrants are also challenging established players. They look to use their experience and resources to create sustainable market positions. To meet customer demands, key companies are creating innovative products in the electric mobility market. To expand their customer base, and to increase their market offerings, industry leaders are teaming up with top market players and buying them out. The following are some of the most prominent players in electric mobility:

• Vmoto Limited ABN

• Tesla

• Terra Motors

• Continental AG

• ALTA MOTORS

• Accell Group

• Nissan Motor Corporation

• Zero Motorcycles, Inc.

• Kinetic Green Energy & Power Solutions Ltd.

Up Market Research published a new report titled “Electric Mobility Market research report which is segmented by Product (Electric Car, Electric Motorcycle, Electric Scooter, Electric Skateboard, Electric Wheelchair, Electric Bicycle), By Players/Companies Kinetic Green Energy & Power Solutions Ltd, ALTA MOTORS, Tesla, Accell Group, Terra Motors, Zero Motorcycles Inc, Vmoto Limited ABN, Nissan Motor Corporation, Continental AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Electric Mobility Market Report Segments:

The market is segmented by Product (Electric Car, Electric Motorcycle, Electric Scooter, Electric Skateboard, Electric Wheelchair, Electric Bicycle).

Electric Mobility Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Electric Mobility Market

Overview of the regional outlook of the Electric Mobility Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Electric Mobility Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Electric Mobility Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Electric Car

                2. Electric Motorcycle

                3. Electric Scooter

                4. Electric Skateboard

                5. Electric Wheelchair

                6. Electric Bicycle

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Electric Mobility Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Electric Mobility Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.