Electric Scooter Motor Market

The electric scooter motor market is going to be about USD 416.0 million by 2024 and USD 1,201.2 million by 2030, with a CAGR of about 19.3%. The global electric scooter motor market is poised for significant growth, fueled by a confluence of factors. The rapid urbanization, rising environmental awareness, and government initiatives are fueling significant demand for electric scooter motors. Countries like China, India, and Japan are leading the charge, with local manufacturers and international players alike investing in innovative motor technologies to cater to the growing consumer base. European countries such as Germany, France, and the Netherlands are implementing policies that encourage the adoption of electric two-wheelers which in turn drives the market for electric scooter motor in Europe region. The presence of major automotive manufacturers and technology companies investing in electric scooter motor development such as Linear Labs (US) and Enedym (Canada), are driving innovation and market growth. Additionally, innovation continues to play a crucial role. Manufacturers are heavily invested in sresearch and development (R&D) aimed at improving motor technology. This translates to extended range, faster and lower costs. Efforts are also underway to find alternative materials for manufacturing electric two-wheelers motor, ultimately driving down production costs and making these motor more price-competitive with their gasoline counterparts.

The key players identified in the global electric scooter motor market include Robert Bosch GmbH (Germany), QS Motor (China), Lucas TVS (India), Ola Electric Mobility Pvt. Ltd. (India), MAHLE GmbH (Germany), and others, Companies have adopted the strategies of product development, deals, and many more to make the position in the market.

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Robert Bosch GmbH has established itself as a major player in the electric scooter motor market owing to their deep-rooted presence in automotive technology and robust R&D. With more than 100 years of experience in powertrain systems, Bosch manufactures efficient, reliable electric motors for different industries, including hub motors for electric two-wheelers. It has always invested heavily in research on electric transportation systems. Some other factors that have contributed to Bosch’s success include the scale of operations and distribution networks across the globe to deal with varying specifications for different electric two-wheeler designs. Additionally, it has taken customization options based on modularity and scalability across various automotive segments into account to provide motor solutions effectively.

QS Motor Ltd, also known as Taizhou Quanshun Motor Co., Ltd., is a prominent global manufacturer specializing in motors for electric bicycles, electric scooters, electric cars, and others. The electric scooter motor market is highly competitive and driven by technological advancements. QS Motor offers a wide range of electric motor options. The company has partners such as VinFast of Vietnam, NIU (Canada), and Vmoto (Australia), which are strengthening its position in the electric scooter motor market.

Lucas TVS, a joint venture between Lucas India and TVS Group, boasts a strong foothold in the Indian automotive components market. This legacy has translated into a robust presence in the burgeoning electric two-wheeler motor segment. The company's deep understanding of the Indian automotive landscape, coupled with its manufacturing prowess, has been instrumental in developing cost-effective and reliable electric motors. Furthermore, Lucas TVS benefits from its association with the TVS Group, a leading player in the Indian two-wheeler industry. This synergy provides access to a vast distribution network and a deep understanding of customer preferences.

Ola Electric Mobility Pvt. Ltd. manufactures motors in-house, it controls the entire production process. Ola gains granular control over motor design, performance, and cost. This allows for rapid innovation and optimization, enabling it to stay ahead of the competition in terms of efficiency, power output, and durability. Additionally, in-house manufacturing ensures a consistent supply chain, mitigating risks associated with external dependencies and potentially reducing production costs.

MAHLE GmbH, one of the leaders in engine systems and components, brings a wealth of experience and technological expertise to the electric scooter motor market. The company's deep-rooted knowledge of thermal management, filtration, and powertrain systems provides a solid foundation for developing advanced electric motor components.

Related Reports:

Electric Scooter Motor Market by Vehicle (E-Scooter/Moped, E-Motorcycle), Positioning (Hub and Mid-drive), Motor Power, Drive Type (Chain and Belt), Motor Type (PMSM and BLDC), Component & Region - Global Forecast to 2030

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