Electric Two-Wheeler Market

The electric two-wheeler market is expected to reach USD 10.29 billion by 2035, from USD 5.31 billion in 2026, with a CAGR of 7.6%. The market is expanding as urban mobility shifts toward low-emission and cost-efficient transportation solutions. Fleet electrification across last-mile delivery, ride-hailing, and shared mobility platforms is accelerating commercial adoption. Similarly, continuous advancements in battery systems are improving range, durability, charging efficiency, and total cost of ownership. Strategic partnerships between OEMs and fleet operators are strengthening volume deployment and ecosystem integration. Opportunities are emerging through lightweight vehicle engineering and shared platform architectures that reduce production and development costs across multiple models.

Key players in the electric two-wheeler market include VinFast (Vietnam), TVS Motor Company (India), Bajaj Auto Ltd. (India), Ather Energy (India), and Ola Electric (India). These companies have adopted both organic and inorganic strategies, such as product launches, partnerships, joint ventures, mergers and acquisitions, and expansions, to strengthen their international foothold and capture a larger market share. Through these strategies, they have expanded globally by offering a diverse portfolio of electric two-wheelers tailored to local market needs, featuring advanced battery technologies, connected mobility solutions, and competitive pricing to attract a broader customer base.

To know about the assumptions considered for the study download the pdf brochure

VinFast, a subsidiary of VinGroup, is one of the top electric scooter companies in Vietnam. It encompasses three segments for electric scooters: High Class, Intermediary, and General. The company serves markets across Southeast Asia, South Asia, Europe, and North America with tailored product portfolios. VinFast plans to expand its local presence by increasing its distribution centers in Hai Phong and Vinh Phuc, and its global footprint by entering new markets such as the Philippines, Indonesia, India, Thailand, and Malaysia as of January 2026.

TVS Motor Company is a prominent electric two-wheeler manufacturer in India. It operates under the larger TVS Group, which encompasses over 90 companies in industries such as automotive, aviation, education, and logistics. The company has four manufacturing facilities: three in India and one in Indonesia. It entered the electric two-wheeler market by showcasing its first electric scooter, Creon, at the Auto Expo 2018. TVS Motor specializes in future mobility, electric mobility, sustainable mobility, racing, and motorsports.

Bajaj Auto Ltd., a flagship company of the Bajaj Group, manufactures motorcycles, scooters, and three-wheelers. It is the world’s fourth-largest producer of two-wheelers and a major exporter to markets across Africa, Latin America, and Asia. The company offers electric scooters under its Chetak brand, including models such as the Chetak 3501, 3502, 3503, and 3001. Currently, over 3 lakh Chetak scooters are on the road, collectively covering 2.28 billion kilometers. In 2024, Bajaj Auto launched the Chetak 35 Series, featuring advanced technology, improved performance, and a refined, durable design built for long-term reliability.

Market Ranking

The electric two-wheeler market is competitive, with the top five players, namely VinFast, TVS Motor, Bajaj Auto, Ather Energy, and Ola Electric, holding 40–50% of the total market. TVS Motor is pursuing a comprehensive EV strategy by developing new models, expanding globally through acquisitions and partnerships, and investing in R&D to serve both premium and budget segments. Bajaj Auto is leveraging its manufacturing strength and export base while expanding its electric portfolio and forming partnerships for urban mobility and last-mile delivery solutions. Ather Energy is focusing on cost-efficient modular platforms, connected mobility solutions, and expanding its retail footprint to strengthen its presence across India. Ola Electric is focusing on increasing its nationwide retail and service network, achieving cost efficiency through vertical integration, and diversifying its portfolio with new scooters and electric motorcycles. The companies are executing a global expansion strategy by localizing production, adopting advanced battery technologies, and entering premium segments with high-performance electric models. The remaining 50–60% of the market is shared among other regional and emerging players, contributing to extensive competition and offering opportunities for smaller players to establish a footprint.

Related Reports:

Electric Two-Wheeler Market by Vehicle Type (E-Scooters/Mopeds, E-Motorcycles), Voltage, Motor Type (Hub, Mid-drive), Battery (Li-ion, Lead-acid), Motor Power, Technology (Battery, Plug-in), Vehicle Class, Usage, and Region - Global Forecast to 2035

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com