Top Companies in Electric Scooter Industry - Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India) and Gogoro (Taiwan)
The global Electric Scooter market is projected to grow from USD 4.3 Billion in 2024 to USD 12.4 Billion by 2030, registering a CAGR of 18.9%. The electric two market for vehicles such as electric scooters/mopeds and electric motorcycles is experiencing a surge fueled by significant driver, the global push towards sustainability, and reducing carbon emissions. Governments and international organizations are implementing stricter emission regulations and offering incentives for adoption of electric vehicles (EV) to combat climate change and reduce urban air pollution. These policies include tax rebates, subsidies, and grants for both manufacturers and consumers. Additionally, as the awareness of climate change and its impacts grows, consumers increasingly seek eco-friendly transportation alternatives, making electric scooters and motorcycles attractive.
echnological advancements and the evolving urban mobility landscape also play a crucial role. Improvements in battery technology have significantly enhanced the range and performance of electric two-wheelers, making them more practical and appealing for daily use. Furthermore, the rise of smart cities and the integration of Internet of Things (IoT) technologies have facilitated the development of connected electric two wheelers, offering features like GPS tracking, remote diagnostics, and seamless smartphone connectivity. The expansion of sharing economy models, such as electric scooter-sharing programs, has also contributed to their popularity, providing a convenient and cost-effective transportation solution for urban commuters. These factors, combined with increasing investments from major automotive players and startups, are propelling the growth of the global electric scooter and motorcycle market.
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The Electric Scooter 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 adopted strategies such as product developments, deals, and others to gain traction in the market.
Yadea Technology Group Co., Ltd. has a range of products designed for personal use and commercial deliveries, with a specific focus on improving its existing product line. It invests heavily in R&D and continues to invest in developing new models of electric two-wheeled vehicles and electric bicycles with advanced performance characteristics and modern technology for core parts and components. As of December 2023, the Group had an annual electric two-wheeled vehicle production capacity of approximately 20 million units, supported by more than 12,000 employees. The Group’s domestic distribution network covered every administrative region of the China and consisted of more than 4,000 distributors as well as their sub-distributors with over 40,000 points of sales as of December 2023. The Yadea Group also has established distribution channels in over 90 countries across Europe, Southeast Asia, South America, and Central America. In March 2024, Yadea seeks to invest 352.0 million yuan (USD 49.4 million) to acquire the entire shares of Wuxi Lingbo Electronic Technology which specializes in the research and development, manufacturing, and sales of intelligent control system solutions.
Ola Electric designs manufactures, and deploys a diverse range of electric vehicles, including two-wheelers, three-wheelers, and four-wheelers, catering to both individual consumers and commercial enterprises. Ola Electric offers a range of electric scooters and motorcycles that combine performance, style, and sustainability. These vehicles are designed to provide an efficient and eco-friendly alternative to traditional petrol-powered bikes, addressing the growing demand for clean and affordable urban mobility solutions. In February 2024, Ola Electric has launched a new scooter, the ola S1X (4kWh), in India. The scooter, equipped with a 6 kW motor, offers a driving range of 190 km on a single charge. Also in March 2024, Ola Electric inaugurated its 450th service centre in in Phaphamau, Prayagraj in Uttar Pradesh, and it is a part of the brand's rapid expansion of its sales and service network as it aims to open 600 outlets by the end of this year.
TVS Motor Company is one of India's leading scooter and motorcycle manufacturers. It has the capacity to manufacture 4 million two-wheelers annually, with more than 90 companies under its umbrella. The company has four manufacturing facilities—3 in India and 1 in Indonesia. It entered the electric scooter and motorcycle market by showcasing its first electric scooter, Creon, at the Auto Expo 2018. In March 2024, TVS Motor Company showcased its product range for Europe at the Salon du Deux Roues, Lyon. The company put on display, its electric scooters - TVS iQube S, TVS X, and its performance scooter - TVS NTORQ along with the TVS Apache RR 310, TVS Apache RTR 310, TVS Ronin.
Ather Energy focuses on developing electric scooters with a modern design, styling, and high performance. Its electric scooters are technologically advanced, with interactive information displays. The company currently offers electric scooters such as Ather 450X and Ather 450 Apex and plans to launch a few more. In April 2024, Ather Energy launched the Rizta family scooter in three models Rizta S, Rizta Z and Rizta Z*. The Rizta S and Rizta Z has a 2.9 kWH battery capacity, with top speed of 80 kmph and a range of 123 km. Rizta Z* has a 3.7 kWH battery capacity, with a top speed of 80 kmph and a range of 160 km.
Gogoro offers a leading open platform with battery-swapping capability and a digital drive system. It has 10 brands and offers over 47+ different vehicle models. The Gogoro Network deploys battery swapping technology cost-effectively in urban areas. The company specializes in Global transportation solutions, Innovation, Technology, Energy, Design, eco-friendly transport, and Urban Planning. The company offers smart electric scooters, including Gogoro S1, Gogoro S2, Gogoro S2 Adventure, and Gogoro S2 Café Racer. In April 2024, Nebula Energy and Gogoro launched Gogoro Battery Swapping and introduced the Gogoro CrossOver GX250 Smartscooter in Nepal.
Related Reports:
Electric Scooter 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
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