Electric Transporters Market

The global Electric Transporters Market is valued at USD 48.3 Billion in 2022 and is projected to reach a value of USD 83.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.20% between 2023 and 2030.

Premium Insights

The market for is being driven by the rising cost of fuel. Electric vehicles are becoming increasingly popular as a more affordable and ecological transportation option as a result of the rising price of fuel. Consumers are becoming more aware of the financial advantages of as fuel prices continue to increase. These vehicles not only have lower running costs, but also lessen our reliance on fossil fuels. This pattern is encouraging a shift to more environmentally friendly and cost-effective means of transportation by boosting interest in and adoption of .

• Electric transporters are becoming intelligent machines with predictive maintenance, range optimization, and individualized user experiences due to AI-driven technologies. To change settings, improve efficiency, and guarantee a flawless ownership experience, machine learning algorithms monitor user behavior and driving patterns. This degree of customization increases consumer satisfaction while also improving the car's overall efficiency.
• Asia Pacific generated more than 43.90% of revenue share in 2022
• North America is expected to grow at the quickest rate from 2023 to 2030
• Bike segment accounted for the largest market growth. It contributed over 38.9% of the total revenue share in 2022 due to the increasing demand for eco-friendly urban mobility solutions and advancements in battery technology.
• Sealed Lead Acid segment revealed the most significant market growth, contributing more than 35.7% of the total revenue share in 2022
• 48V segment accounts for largest revenue of 33.5% in 2022

Economic Insights

The market for is growing substantially during forecast period. Both established automakers and recent entrants made large investments in the market for because of growing demand for EVs and electric transports, businesses made investments in R&D, manufacturing facilities, charging networks, and battery technology. Governments from all around the world provided incentives to encourage the use of electric vehicles. For EV purchases, manufacture, and the development of charging infrastructure, these incentives included grants, tax breaks, and subsidies, which helped the market expand. A major 3 million EV-related employment will be created globally in next 5 years as a result of economic changes.

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Top Market Trends

• Increasing demand for last-mile delivery vehicles: Last-mile delivery vehicles are increasingly in demand, and many of these electric transporters are being driven by the growth of e-commerce. These cars are effective at making brief deliveries in cities while also lowering pollution.
• Growing popularity of electric scooters and bikes: Electric bikes and scooters are becoming more and more well-liked as a form of mobility, particularly in cities. These vehicles provide a zero-emissions substitute for cars that are fueled by gasoline and are also reasonably priced and simple to use.
• Technological developments in batteries: Electric transporters are becoming more widely available and feasible as battery technology advances. Electric transporters are becoming a more practical solution for a wider range of applications because to longer battery life and quicker charging times.
• Expansion of the Charging Infrastructure: Access to a reliable charging infrastructure was essential to the development of electric transports. To allay range anxiety and promote the adoption of electric vehicles, governments and private firms invested in the construction of charging stations.
• Integration of Smart Features: Electric transporters were integrating smart features including app-based controls, GPS navigation, remote diagnostics, and over-the-air upgrades. They were also becoming more connected.

Market Segmentation

The globel Electric Transporters market can be categorized into Vehicle Type, Battery Type, Voltage, Region. The Market can be categorized into Electric scooter, Electric bike, Electric skateboards based on Vehicle Type. The Market can be categorized into Sealed Lead Acid, NiMH, Li-Ion based on Battery Type. The Market can be categorized into 24V, 36V, 48V, Greater than 48V based on Voltage. The Market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Vehicle

Bike holds the largest share

Consumer desire for electric bikes, which offer a zero-emission alternative to gasoline-powered counterparts, is driven by growing environmental awareness. As a result, the electric bike sector is projected to dominate the revenue share of the market. Rising gasoline costs make electric bikes seem like an even better value as a mode of mobility. Government subsidies for the use of electric vehicles also help to increase demand for electric bikes. Lastly, electric bikes that appeal to a wider demographic, including people who are unable to ride regular bicycles, are helping to increase the growing popularity of cycling, both as exercise and a mode of transportation.

Based on Battery

Sealed Lead Acid will dominate the market during Forecast Period

Sealed lead-acid batteries are anticipated to have the largest revenue share in the market for due to their affordability and economical nature, sealed lead-acid batteries are a preferred choice for . Additionally, because of their extraordinary toughness, which enables them to withstand harsh conditions, they are suited for outdoor and industrial electric transporter applications. Last but not least, sealed lead-acid batteries are widely available from a variety of merchants, further enhancing their significance.

Based on Voltage

48V will account for largest market share

48V voltage is expected to lead the market due to its potential for improved performance, which includes increased range and quicker acceleration, essential characteristics for electric transporters meeting transit and leisure needs. Additionally, 48V batteries have become more affordable in recent years, improving their viability for incorporation into electric transporters.

Based on Region

Asia pacific lead the market

Asia pacific lead the market in 2022 due to the rate of urbanization in the region. The movement for electric vehicles is fueled by the urgent environmental issues in Asia Pacific, which is characterized by high pollution levels, with electric transporters providing a zero-emission alternative to traditional gasoline-powered vehicles. The numerous government incentives designed to promote the use of electric vehicles throughout the region have strengthened the strong impetus for this transformation. Additionally, the increased disposable income in Asia and the Pacific helps to keep electric transporters affordable, keeping up with the population's expanding purchasing power.

Competitive Landscape

The global market is fragmented, including established automakers, emerging electric vehicle startups, technology giants and battery manufacturers all vying for a share in this rapidly growing sector.

The players in the global market include Jiangsu Xinri Electric Vehicle Co. Ltd; Terra Motors Corporation; Gogoro Inc.; Mahindra GenZe; Vmoto Limited; and BMW Motorrad International. among others.

Recent Market Developments

• June 2023: In Germany, Mercedes will introduce the EQT electric transporter, which offers a variety of sector-specific electric mobility solutions.
• May 2022: For a variety of intra-city uses, Tata Motors introduced its most cutting-edge cargo transporter, the zero-emission, four-wheel small commercial vehicle (SCV).

Segmentation of the Global Market