Electric Scooter and Motorcycle Market

Global Electric Scooter and Motorcycle Market Size (2024 to 2032)

The global electric scooter and motorcycle market was valued at USD 5.45 billion in 2023 and is anticipated to reach USD 6.80 billion in 2024 from USD 40.02 billion by 2032, growing at a CAGR of 24.8% during the forecast period from 2024 to 2032.

Electric scooters and motorcycles are two-wheelers driven by electric power. The worldwide electric scooters and motorcycles market is developing at a considerable rate, due to supporting government initiatives and subsidies on eco-friendly vehicles, along with an increase in the necessity of capable vehicles with zero carbon discharge. The global market has registered high demand for scooters within the second half of this decade due to their lightweight and increased adoption for daily commutes within urban areas.

Increasing investments by governments across the world to promote charging infrastructure and incentives is likely to create immense opportunities for OEMs to expand their revenue stream and geographical presence.

MARKET DRIVERS

The increase in the need for vehicles with zero carbon discharge and productive green energy, growing concern about environmental pollution, and stringent policies related to vehicle emissions are amplifying the expansion of the market. For instance, according to the Planet Health Organization (WHO), globally, the experience of ambient pollution results in 4.2 million deaths annually. Also, 91% of the world’s population exists in a place where air quality is entirely above the guidelines limit decided by the WHO. The surge in availability of smart charging stations, expanding food, and beverage deliveries, improvements in charging infrastructure, and fall in the prices of lithium batteries and EV charging stations motorized by solar panels also are assisting the expansion of the global electric scooters and motorcycles market.

MARKET RESTRAINTS

The poor performance of electric vehicles, the lack of charging infrastructure in several areas, and the strict regulations involved in the installation of charging stations are critical challenges for the expansion of the global electric scooters and motorcycles market. In this regard, the Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI) have estimated that around 9.6 million charge ports are going to be required to help 18.7 million electric vehicles expected to be sold within the US alone by the end of 2030.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Electric Scooter and Motorcycle Market Analysis By Vehicle Type

The e-motorcycle is estimated to be the fastest-growing segment in the world market. Earlier, manufacturers specialized in developing e-scooters/mopeds as they needed to design more suitable to include the electrical system. Moreover, e-scooters/mopeds have range and performance constraints; also, they serve the limited purpose of short-distance commuting only. With e-motorcycles, users can use them for different purposes, such as cruising, racing, off-roading, and commuting, which might increase their demand in the future.

Global Electric Scooter and Motorcycle Market Analysis By Battery Type

The demand for Li-ion batteries is expanding across the globe, and the same is supposed to continue over the next few years.

Global Electric Scooter and Motorcycle Market Analysis By Voltage Type

On the idea of voltage, the market is segmented into 12V, 24V, 36V, and 48V. Among all types, 48V batteries registered for a protruding share within the global market due to the high power output of those batteries and better compatibility. Additionally, 24V and 36V batteries are estimated to grow in the market, due to high power range and protracted research and development in advancing the performance and speed of those vehicles.

REGIONAL ANALYSIS

The European electric scooter and motorcycle market is predicted to witness the fastest growth in the future. Europe comprises developed economies like France, Germany, Spain, and the UK. The area includes several leading players like Energica Motor Company, KTM, BMW, Piaggio, and so on. Developments in infrastructure and rapid industrialization in developed economies have opened new avenues, creating several opportunities for OEMs. The implementation of the latest technologies and establishment of the latest government regulations are driving this market within the region. Belgium is predicted to steer the EU market because of the subsidies offered to buyers on the purchase of the latest electric scooters and motorcycles. Europe also has a rise in demand for performance e-motorcycles, which manufacturers like Energica and KTM have identified. Thus, the ECU region would witness faster growth.

The Asia Pacific is predicted to be the most critical market. The market growth within the region is often attributed to the rising demand for greener transportation along with several initiatives by private organizations also as governments of the nations. China is an emerging economy that is driving the expansion of advanced technologies to enhance the nation's electrification. China is predicted to spend approximately USD 2.4 billion by 2020 to improve the charging facility infrastructure within the country. The Indian government is taking initiatives like FAME-II, offering subsidies and tax exemptions to buyers to market electric two-wheelers within the area.

KEY PLAYERS IN THE GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET

Energica, Alta Motors, Jiangsu Xinri E-Vehicle Co., Ltd., Hero Electric, Yadea Group Holdings Ltd., Vmoto Limited, Yamaha, Saietta Group, Johammer, Lightning, BMW, Zero, KTM, Victory motorcycles. These are the market players that are dominating the global electric scooters and motorcycle market.

RECENT HAPPENINGS IN THE GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET

• Honda Motorcycle and Scooter India (HMSI), the second biggest two-wheeler brand by volume in India, is ready to start testing an electric scooter.
• Okinawa, a number one electric two-wheeler manufacturer, has decided to prevent all manufacturing operations at its Haryana plant amidst the Coronavirus Pandemic lockdown within the country.
• The Chinese company called Xiaomi launched a line of commuter-oriented electric mopeds to be used around cities and densely urban environments.
• Electric motorcycles are becoming better all the time. Just check out the Energica Eva Ribelle, during which the corporation introduced its first 21.5kWh lithium polymer battery, and which it claims features a combined city and highway range of just about 143 miles. It doesn’t hurt that the bike is straightforward on the eyes, either—but think what all types of motorcycle manufacturers could do with long-range, flexible batteries.

DETAILED SEGMENTATION OF THE GLOBAL ELECTRIC SCOOTER AND MOTORCYCLE MARKET

This research report on the global electric scooter and motorcycle market is segmented and sub-segmented into the following categories.

By Vehicle Type

• E-Scooter/Moped 
• E-Motorcycle 

By Battery Type

• Sealed Lead Acid 
• Lithium-Ion (Li-Ion)

By Voltage Type

• 36V 
• 48V 
• 60V 
• 72V 

By Distance Covered

• Below 75 Miles 
• 75–100 Miles 
• Above 100 Miles 

By Technology Type 

• Plug-In 
• Battery 

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa