Electric Scooter and Motorcycle Market by Vehicle (E-Scooter/Moped, E-Motorcycle), Voltage (36V, 48V, 60V, 72V, Above 72V), Motor Type (Hub and Mid-drive), Battery (Li-ion and lead acid), Motor Power, Technology, Vehicle Class, Usage & Region - Global Forecast to 2030
[366 Pages Report] The global electric scooter and motorcycle market size was valued at USD 4.3 billion in 2024 and is expected to reach USD 12.4 billion by 2030, at a CAGR of 18.9% from 2024 to 2030. The global electric scooter and motorcycle market is poised for significant growth, driven by expanding charging infrastructure, increased adoption in key countries, and a heightened focus on environmental sustainability. Governments worldwide are actively promoting electric vehicles (EVs) to reduce pollution from traditional gasoline-powered options, leading to substantial investments in charging networks and making electric scooters and motorcycles more viable for consumers. Rising fuel prices and a growing demand for energy-efficient commuting options further propel market expansion. For instance, China aims for 40% of its total vehicles to be new energy vehicles (NEVs) and clean energy-powered by 2030, up from its earlier target of 20% by 2025, while Indonesia targets 13 million electric two-wheelers by 2030, constituting 25% of total two-wheeler sales. Innovation remains crucial, with manufacturers investing heavily in research and development to improve battery technology, resulting in extended range, faster charging times, and lower costs. Additionally, efforts to find alternative materials for manufacturing electric two-wheelers aim to reduce production costs, making these vehicles more competitive with their gasoline counterparts.
Furthermore, China's rapidly growing economy is driving the adoption of electric two-wheelers, which will reduce pollution caused by ICE vehicles in the country. India's population is expanding quickly, making it necessary for the nation to improve its transportation system. The Asia Pacific region has major market players such as Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS (India), Niu International (China), Okinawa Autotech Internationall Private Limited (India), Jiangsu Xinri E-Vehicle Co., Ltd. (China), Hero Electric (India) and among others that offer a wide range of electric scooters with advanced connectivity features for end-use applications. Thus, the implementation of new technologies and the support from new government regulations will drive the electric scooter and motorcycle market.
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Market Dynamics:
Driver: Advancement in Battery Technology
The battery is a major component of an electric scooter. Technological advances in batteries, especially regarding their charge density, making them extractable and more competitive, are the focus of the electric scooter segment's main research and development efforts worldwide. Currently, companies are providing multiple charging options, including a portable charger that can be used to charge vehicles in public places. Besides, charging stations are also installed at homes for convenience. Innovations in EV battery technology are advancing rapidly as more people realize the benefits of sustainable mobility. The industry is focusing on developments in battery technology, such as silicon anode batteries, lithium-ion and lithium-sulfur batteries, and solid-state batteries. Increasing battery energy density and adding fast charging capabilities are top priorities for battery and electric vehicle manufacturers. They are also keeping a close eye on technological advancements that will extend battery life and make recycling easier, helping the general public overcome the obstacles to electric scooter adoption. Many OEMs have also started offering electric scooters & motorcycles ranging from 100 to 150 km, with the batteries required to be replaced after 5 to 7 years. The research focuses on conventional lithium-ion, advanced lithium-ion using an intermetallic anode (silicon alloy composite), and future advanced lithium-ion (lithium metal, including lithium-sulfur and lithium-cobalt) batteries. Such rapid developments in battery technology would overcome the issue of range limitation in electric two-wheelers, thereby encouraging customers to prefer electric scooters & motorcycles.
Restraint: Battery heating issues and long charging time
Most manufacturers use lithium-ion batteries in electric two-wheelers. While lithium-ion batteries can store a relatively large amount of energy in a small space, they tend to heat up quickly, and many catch fire in case of any malfunction. Overheating happens for several reasons. Lithium is a volatile substance. When the separator is placed between the cathode and anode in the battery, it gets disrupted, and a short circuit occurs. Numerous cases of electric scooters and motorcycles have caught fire in India. For instance, in December 2023, an electric scooter parked in the garden of a house in Tamil Nadu, India, caught fire after some time of charging. In August 2023, another electric scooter exploded after catching fire outside a house in Bihar (India), which was purchased a year ago.
The Indian government has directed all-electric two-wheeler companies to refrain from launching any new products in the market due to the surge of battery-related fires in electric two-wheelers in the country. There is also a concern that batteries can burst due to an accident, an impact, or during severe weather. A lithium-ion battery is the most widely used battery in EVs today. If the battery itself is damaged, it can explode and produce a lot of heat. Known as "thermal runaway," this heat can destroy nearby cells and start a chain reaction. The duration needed to recharge electric scooters and motorcycles is another important consideration. People are used to filling up their traditional automobiles quite quickly. But in the case of electric vehicles, they must wait a lot longer to recharge them, something they are not used to. Thus, people hesitate to buy electric two-wheelers due to battery heating issues and long battery charging times.
Opportunity: Government bodies backing electric two-wheelers
The electric scooter and motorcycle market is expected to grow with time and growing support from government bodies of different countries. Many countries have recognized the need to go electric to reduce automobile emissions, with the US and China gearing up for electric vehicles. The Indian government plans to stop producing ICE two-wheelers under the 150 cc segment by 2025. Many countries are implementing similar strategies and policies in support of electric two-wheelers. By enacting legislation and modifying rules, even emerging nations worldwide have shown their commitment to supporting the adoption of electric two-wheelers. Some nations have established agencies, authorities, and regulations to support market expansion. They have also provided tax and import-export incentives for producers, thereby helping the market for electric scooters and motorcycles to expand.
Challenge: Technological barriers related to battery development
The primary challenges to electric two-wheelers’ adoption are their short range, packaging, safety, component standards, and energy production. The battery capacity, vehicle weight, and aerodynamic drag primarily influences the range of electric two-wheelers. Electric two-wheeler propulsion requires high-capacity batteries to match the range of CVs. The lack of adequate charging outlets further impacts the range of electric two-wheelers. The weight of an electric two-wheeler is a significant characteristic that impacts its performance and, ultimately, its success in the market. Electric two-wheeler weight is linked to energy storage spending, raising the cost and ultimately limiting customer demand. Lightweight materials, high energy density batteries, and battery charging with renewable energy sources should be implemented in electric two-wheelers in order to increase their driving range. The current battery technology used in electric two-wheelers has additional drawbacks, like higher installation and repair costs, irregular charging, and shorter battery life for freestanding electric two-wheelers powered by solar cells. Although the prospect for new batteries appears promising, they are produced from finite elements like Li, Ni, and Mn, just like fossil fuels. Safety is another crucial factor influencing electric two-wheeler acceptability and success. Modern electric two-wheeler batteries face overheating, fire safety, thermal runaway, and high energy storage. However, the environmental damage caused by old battery disposal and other related issues is the most worrying aspect. Battery recycling technology has made minor technological advancements.
Market Ecosystem
Improved battery technology and charging infrastructure are needed to drive the segment.
Compared to lower voltage options (like 36 V or 48 V), 72 V batteries generally offer more power. This translates to better acceleration with higher speeds. 72 V batteries are mostly preferred where high performance is required. Compared to other batteries, these batteries are expensive and are mostly used in high-performance electric scooters and motorcycles. Due to recent advancements in lithium-ion battery technology, manufacturers may now be able to resolve the high energy-to-weight ratio of high voltage batteries, like the 72 V. This helps further to improve the energy efficiency and range of electric two-wheelers. Hero Electric offers its electric scooter Photon, with a 72 V battery, for customers who do not want to compromise performance. Manufacturers are introducing new vehicle models to cater to the market's demand for high-voltage electric scooters and motorcycles. For instance, in November 2023, Yadea Technology Group Co., Ltd. unveiled the Yadea Kemper electric motorcycle at the EICMA 2023 Milan Motorcycle Show. The motorcycle has a top speed of 160 km/h (99.4 mph) and a centrally-mounted motor rated for 23 kW of continuous power and 40 kW of peak power with a battery of 72 V.
New range of products with reduced prices to drive market for electric scooter during the forecasted period.
With the development of battery technologies, electric scooters/mopeds and motorcycles have become lighter and more efficient over the last couple of years. The industry is witnessing a shift from earlier ICE two-wheelers to electric models. The growing environmental consciousness among consumers. With heightened awareness about climate change and pollution, many people are seeking greener alternatives to traditional internal combustion engine vehicles. Governments around the world are also encouraging this shift by implementing stringent emission regulations and offering incentives such as tax rebates, subsidies, and exemptions from certain road tolls. These policies make electric two-wheelers more financially attractive to consumers.
Improvements in battery technology, particularly in terms of energy density and charging speed, have significantly enhanced the performance and convenience of these vehicles. Modern electric two-wheelers now offer longer ranges and faster charging times, addressing one of the primary concerns potential buyers have had in the past. Developing a more extensive and reliable charging infrastructure has alleviated range anxiety, making electric two-wheelers a more viable option for everyday use. In March 2024, Vingroup Corporation (Vietnam) announced the establishment of V-Green Global Charging Station Development Company (V-Green). The company will focus on building charging stations in Vietnam and entering new markets overseas. It plans to invest USD 404 million in the next two years to build new stations and upgrade its network.
Asia Pacific is the largest market for electric scooter during the forecast period.
The electric scooter and motorcycle market has witnessed rapid year-on-year growth in the Asia Pacific region, which comprises some of the fastest-developing economies globally, such as China, Japan, and India. The market has witnessed rapid growth year-on-year in the Asia Pacific region. India is one of the largest markets for electric scooters. Apart from the manufacturers recognizing the growth potential of the market, the positives of electrification of two-wheelers, such as noise-free operation and low maintenance cost, have led to an increase in the development of electric two-wheelers over the years, catering not only to domestic demand but overseas demand as well. The market growth in the region can also be attributed to the rising demand for energy-efficient commuting along with several initiatives by private organizations as well as governments. For instance, Indonesia's government aims to put 1 million electric two-wheelers on the road through 2024. Thailand’s government offers a subsidy of THB 10,000 (USD 275) for e-motorcycles manufactured in Thailand with batteries smaller than 3 kWh but with a range of over 75 kilometers per charge.
Key Market Players
The Electric scooter and motorcycle market is dominated by established players such as Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) and others. These companies manufacture and develop new electric scooters as per the market requirement. These companies adopted strategies such as product developments, deals, expansion and others to gain traction in the market.
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Report Metric |
Details |
|
Market size available for years |
2019–2030 |
|
Base year considered |
2023 |
|
Forecast period |
2024-2030 |
|
Forecast units |
Volume (Thousand Units) and Value (USD Million) |
|
Segments Covered |
Vehicle type, Motor Power, Motor type, Battery Type, Usage, Technology Type, Voltage Type, Distance Covered, Vehicle Class and Region |
|
Geographies covered |
Asia Pacific, Europe, and North America |
|
Companies Covered |
Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) |
This research report categorizes the electric scooter and motorcycle market based on Vehicle type, Motor Power, Motor type, Battery Type, Usage, Technology Type, Voltage Type, Distance Covered, Vehicle Class and Region.
Based on Vehicle Type:
- E-scooters/Mopeds
- E-motorcycles
Based on Battery Type:
- Sealed Lead-acid
- Lithium-ion
Based on Technology Type:
- Plug-in
- Battery
Based on Voltage Type:
- 36V
- 48V
- 60V
- 72V
- Above 72V
Based on Distance Covered:
- Below 75 miles
- 75– 100 miles
- Above 100 miles
Based on Vehicle Class:
- Economy
- Luxury
Based on Usage:
- Private
- Commercial
Based on Motor Type:
- Hub Motors
- Mid-drive Motors
Based on Motor Power:
- Less than 1.5 kW
- 1.5–3 kW
- Above 3 kW
Based on the region:
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Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Malaysia
- Vietnam
- Philippines
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North America
- Canada
- US
-
Europe
- France
- Germany
- Spain
- Austria
- UK
- Belgium
- Netherlands
- Italy
- Poland
- Denmark
Recent Developments
- In April 2024, Ola Electric launched the S1 X scooter range, which includes 2 kWh, 3 kWh, and 4 kWh variants. The S1 X 4 kWh has a range of 190 km and can go from 0 to 14 km/h in 3.3 seconds.
- In April 2024, Ather Energy introduced the Ather Rizta electric scooter with a 2.9 kWh battery, offering a range of 123 km.
- In March 2024, Yadea Technology Group Co., Ltd. announced its plan to invest 352.0 million yuan (USD 49.4 million) to acquire the entire shares of Wuxi Lingbo Electronic Technology Co., Ltd., which specializes in the research, development, manufacturing, and sales of intelligent control system solutions. This acquisition will strengthen Yadea's technical capability and supply chain vertical integration in the electric two-wheeler industry, develop global markets, and lower production costs.
- In December 2023, Gogoro opened a battery-swapping network in Delhi and Goa and plans to expand to Mumbai and Pune, Maharashtra, in the first half of 2024.
- In November 2023, Vmoto Limited exhibited and launched new products, the APD e-motorcycle, the CPX Explorer e-moped, and a battery-swapping and charging station, at 2023 EICMA.
- In March 2023, Hero Electric announced plans to increase its production capacity to 5 lakh units and meet market demand in the next 2–3 years with a new facility in Rajasthan, India. The company also plans to set up a greenfield plant in Rajasthan with an annual production capacity of 20 lakh units.
Frequently Asked Questions (FAQ):
What is the current size of the electric scooter and motorcycle market by value?
The size of the electric scooter and motorcycle market is estimated to be USD 4.3 billion in 2024.
Who are the winners in the electric scooter and motorcycle market?
The electric scooter and motorcycle market is dominated by established players such as Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), Gogoro (Taiwan) and others. These companies manufacture advance and high range electric scooter to cater the need of the market. These companies adopted strategies such as product developments, deals, expansion and others to gain traction in the market.
Which region will have the fastest-growing market for electric scooter and motorcycle market?
North America will be the fastest-growing electric scooter and motorcycle market region as the demand for high performance electric motorcycle and advanced charging infrastructure support the market growth over the forecast period.
What are the new market trends impacting the growth of the electric scooter and motorcycle market?
The key trends impacting the growth of the electric scooter and motorcycle market are government initiatives promoting electric vehicle adoption including e-scooter/mopeds, and advancement in battery technologies and charging system such as battery swapping and among others.
What countries cover the electric scooter and motorcycle market in the North American region?
The countries covered in the report for the electric scooter and motorcycle market are the US and Canada. .
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This research study involved the extensive use of secondary sources, such as company annual reports/presentations, industry association publications, automotive magazine articles, directories, technical handbooks, the World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the Electric scooter and motorcycle market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players (electric scooter and motorcycle manufacturers and suppliers), and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess market prospects.
Secondary Research
In the secondary research process, various secondary sources were used to identify and collect information on the electric scooter and motorcycle market for this study. Secondary sources include annual reports, press releases, and investor presentations of companies; whitepapers, certified publications, and articles from recognized authors; directories; databases; and articles from recognized associations and government publishing sources.
Primary Research
Extensive primary research was conducted after understanding the electric scooter and motorcycle market scenario through secondary research. Several primary interviews were conducted with market experts from both demand-side vehicle manufacturers [(in terms of component supply) country-level government associations and trade associations] and supply-side OEMs and component manufacturers across three major regions, namely, North America, Europe, and Asia Pacific. Approximately 30% and 70% of primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in the report.
In the canvassing of primaries, various departments within organizations, such as sales, operations, and marketing, were covered to provide a holistic viewpoint in the report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from primaries. This, along with the opinions of in-house subject matter experts, led to the findings, as described in the remainder of this report.
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Market Size Estimation
A detailed market estimation approach was followed to estimate and validate the value and volume of the electric scooter and motorcycle market and other dependent submarkets, as mentioned below:
- The market size was derived by collecting sales of electric two-wheelers (electric scooters/mopeds and electric motorcycles) through associations and paid databases.
- Key players in the electric scooter and motorcycle market were identified through secondary research, and their global market share was determined through primary and secondary research.
- The research methodology included the study of annual and quarterly financial reports, regulatory filings of major market players, and interviews with industry experts to gain detailed market insights.
- All major penetration rates, percentage shares, splits, and breakdowns for the market were determined through secondary sources and verified through primary sources.
- All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data.
The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
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Data Triangulation
All percentage shares, splits, and breakdowns were determined using secondary sources and verified by primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.
Market Definition
Electric scooters and motorcycle are plug-in two-wheeled vehicles that use electric motors to attain locomotion. The electricity is stored in a rechargeable battery, which drives the electric motors. These vehicles are zero-emission electric motor-driven vehicles. The operating speed and top speed of electric two-wheelers are based on battery technology.
Scooters and mopeds are easy-to-operate two-wheelers with a step-through frame and a platform for the user’s feet. They are affordable, lightweight, and easy to commute on. On the other hand, motorcycles are heavier, faster, and bigger than scooters and mopeds. Depending on the requirement, these two-wheelers have different body designs and frames from scooters and mopeds. The electric versions of scooters and motorcycles are powered by electricity stored in their batteries.
List of Key Stakeholders
- Associations, Forums, and Alliances of Electric Scooters and Motorcycles
- Automobile Manufacturers
- Automotive Component Manufacturers
- Automotive Investors
- Battery Distributors
- Battery Manufacturers
- Charging Infrastructure Providers
- Charging Service Providers
- Distributors and Retailers of Electric Two-wheelers
- Electric Two-wheeler Charging Station Service Providers
- Electric Two-wheeler Cable Manufacturers
- Government Agencies and Policymakers
- Manufacturers of Electric Two-wheelers
- Manufacturers of Electric Two-wheeler Charging Poles
- Manufacturers of Electric Two-wheeler Components
- Raw Material Providers
Report Objectives
AVAILABLE CUSTOMIZATIONS
With the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.
- To segment and forecast the electric scooter and motorcycle market size in terms of volume (thousand units) and value (USD million/billion)
- To define, describe, and forecast the market based on vehicle type, battery type, voltage type, vehicle class, technology type, distance covered, usage, motor type, motor power, and region.
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To segment and forecast the market by battery type [sealed lead-acid (SLA) and lithium-ion
(Li-ion)] - To segment and forecast the market by vehicle type (e-scooters/mopeds and e-motorcycles)
- To segment and forecast the market by voltage type (36 V, 48 V, 60 V, 72 V, and above 72 V)
- To segment and forecast the market by technology type (plug-in and battery)
- To segment and forecast the market by distance covered (below 75 miles, 75–100 miles, and above 100 miles)
- To segment and forecast the market by vehicle class (economy and luxury)
- To segment and forecast the market by usage (private and commercial)
- To segment and forecast the market by motor type (hub motors, mid-drive motors, and others)
- To segment and forecast the market by motor power (less than 1.5 kW, 1.5–3 kW, and above 3 kW)
- To forecast the market size with respect to key regions, namely, North America, Europe, and Asia Pacific
- To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
- To analyze technological developments impacting the market
- To analyze opportunities for stakeholders and the competitive landscape for market leaders in the electric scooter and motorcycle market
- To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market.
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To strategically profile key players and comprehensively analyze their market share and their core competencies.
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To study the following with respect to the market:
- Supply Chain Analysis
- Ecosystem Analysis
- Technology Analysis
- HS Code
- Case Study Analysis
- Patent Analysis
- Regulatory Landscape
- Conferences and Events
- Total Cost of Ownership
- Bill of Materials
- Average Selling Price Analysis
- Buying Criteria
- To track and analyze competitive developments such as product developments, deals, and others undertaken by the key industry participants
- Electric scooter and motorcycle market, by battery type at country level (for countries covered in the report)
- Profiling of additional market players (up to 5)
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To study the following with respect to the market:
Generating Response ...
Growth opportunities and latent adjacency in Electric Scooter and Motorcycle Market
What are Electric Scooter and Motorcycle Market Newer business models like sustainable and profitable revenue streams in the future?