The North American electric scooter and motorcycle market value is expected to grow from $164.7 million in 2020 to $590.4 million by 2025, at a 25.1% CAGR between 2021 and 2025 according to a new report from ResearchAndMarkets.com. A growing acceptance of EVs by the private sector and substantial support from the government is driving this growth according to the research firm.
"In the near future, the U.S. will generate higher revenue for the companies in the North American electric scooters and motorcycles market on account of the strong government support for electric vehicles, to reduce the emission of greenhouse gases (GHGs)," according to their findings. " Additionally, the rising prices of diesel and gasoline are impelling individuals to purchase or share electric two-wheelers, at least for short- distance commutes." With gas already hitting $5 a gallon in places like California they might be right.
For more information about this report visit:
https://www.researchandmarkets.com/r/3ya5lc