Global Electric Scooter and Motorcycle Market Report and Forecast 2024-2032

Global Electric Scooter and Motorcycle Market Size

The global Electric Scooter and Motorcycle market reached approximately 1,697.67 thousand units in 2023. The market is projected to grow at a CAGR of 35% between 2024 and 2032, reaching a volume of around 25,285.23 thousand units by 2032.

Electric Scooter and Motorcycle Market Outlook

• As per electric scooter and motorcycle industry analysis, the registration of electric motorcycles stood at 20.1 million as of January 2021.

• As per Vahan Portal, 7,28,054 electric two-wheelers have been sold in FY-23 in India increasing from 2,52,641 in FY-22. 

• According to the U.S. Department of Energy, in 2021, electric vehicle sales have increased to 459,426.

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Electric Scooter and Motorcycle Market Growth

Electric scooters and motorcycles are widely used due to their eco-friendly nature, offering zero emissions, and reducing environmental impact. They also provide cost savings with lower fuel and maintenance expenses compared to traditional vehicles. Advances in battery technology have improved range and charging times, making them more practical for urban commuting and daily use, thus propelling the electric scooter and motorcycle demand growth.

According to the Australian Bureau of Statistics (ABS), in 2022 the registration of hybrid electric motorcycles has been estimated to be 125; battery electric motorcycles have increased to 4,991 from the previous year, stimulating the market growth.

Key Trends and Recent Developments

Increasing government initiatives, rising fuel costs, and increasing environmental concerns are the major trends boosting the electric scooter and motorcycle market value.

May 27, 2024

Oben Electric, an emerging Indian electric motorcycle brand, is expanding into Delhi, Pune, Kerala, and reinforcing Bengaluru, aiming to establish 50 new showrooms and service centres across 12 major cities.

February 08, 2024

Aponyx Electric Vehicles is set to introduce high-speed electric two-wheelers from Surat, Gujarat, known for their long-lasting battery, smart connectivity, and modern design, promising an improved riding experience.

September 21, 2023

Today, Kawasaki Motors, Ltd. unveiled the Ninja e-1 and Z e-1, marking their debut in the electric motorcycle market, showcasing their commitment to electric mobility with these new offerings.

February 22, 2023

Bengaluru-based River introduced its debut electric scooter, the 'Indie,' on February 22. Designed at their 70,000 sq ft R&D facility in Whitefield, Bengaluru, it will be manufactured at their 120,000 sq ft plant in Hoskote with an annual capacity of 100,000 units.

Growing consumer preferences

Consumer awareness and preference for sustainable, eco-friendly products drive demand for electric scooters and motorcycles, aligning with eco-conscious lifestyles and boosting sales.

Increasing government initiatives

Government incentives like subsidies and tax breaks, such as India's FAME scheme for electric two-wheelers, promote EV adoption and boost electric scooter and motorcycle market revenue.

Rising fuel costs

Rising gasoline prices make electric scooters and motorcycles cost-effective, encouraging consumers to switch from conventional vehicles to electric alternatives.

Increasing environmental concerns

Environmental concerns about climate change and air pollution boost demand for eco-friendly transportation, making zero-emission electric scooters and motorcycles attractive alternatives to traditional gasoline vehicles.

Electric Scooter and Motorcycle Market Trends

Environmental concerns about climate change and air pollution make zero-emission electric vehicles attractive alternatives to traditional gasoline-powered ones. Rising fuel costs further enhance the cost-effectiveness of electric options, encouraging consumers to switch. Urbanisation and increasing traffic congestion make these vehicles a practical solution for navigating crowded city streets.

Moreover, the expansion of charging infrastructure, supported by significant investments from governments and private companies, are significantly contributing to the electric scooter and motorcycle demand forecast. The rise of electric scooter-sharing programs increases accessibility, while diverse product offerings cater to various consumer needs, from affordable commuter scooters to high-performance motorcycles, driving market growth.

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Electric Scooter and Motorcycle Industry Segmentation

“Electric Scooter and Motorcycle Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Scooter

• Motorcycle

Market Breakup by Battery Type

• Sealed Lead Acid (SLA)

• Li-ion

• Ni-MH

Market Breakup by Technology

• Plug-in

• Battery

Market Breakup by Voltage

• 36 V

• 48 V

• 60 V

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Electric Scooter and Motorcycle Market Share

Battery technology predominates as the primary power source in the electric scooter and motorcycle market.

These vehicles rely on rechargeable batteries, typically lithium-ion, to store electrical energy used to power electric motors. Battery-powered models offer several advantages over their plug-in counterparts. They provide an adequate range for urban commuting and short trips, and charging them is convenient, whether at home or using public charging stations, thus aiding the growth of the electric scooter and motorcycle industry. 

Moreover, electric scooters and motorcycles are environmentally friendly, producing zero emissions during operation, which helps reduce air pollution in urban areas. They also boast lower maintenance costs due to fewer moving parts compared to traditional gasoline-powered vehicles. Another benefit is their quiet operation, making them suitable for use in noise-sensitive environments.

Meanwhile plug-in electric scooters and motorcycles typically use a power cord that plugs into a standard electrical outlet or a specialized charging station. This direct connection allows for faster charging times compared to battery-powered models, as there is no need to wait for onboard batteries to charge. It also eliminates the need to carry heavy batteries and potentially increases its range or performance.

These vehicles are often preferred in situations where continuous operation is required, such as delivery services or fleets, where quick turnaround times for charging are essential. They may also be used in applications where infrastructure supports frequent and convenient access to charging stations.

Competitive Landscape

Leading companies are specialising in the development and production of electric two-wheel vehicles, pioneering advancements in electric vehicles, and producing clean technology powertrain products.

Yadea Technology Group Co., Ltd.: Founded in 2001, with its headquarters in China, specialising in the development and production of electric two-wheel vehicles, encompassing motorcycles, mopeds, bicycles, and kick scooters.

Bayerische Motoren Werke Aktiengesellschaft: Founded in 1916, with its headquarters in Germany, produces high-end automobiles and motorcycles.

Terra Motors Corporation: Founded in 2010, with its headquarters in Japan, Pioneering advancements in electric vehicles to foster a cleaner and sustainable society.

Greaves Cotton Limited: Founded in 1859, with its headquarters in India, produces clean technology powertrain products designed for petrol, diesel, CNG engines, and heavy equipment.

Other global electric scooter and motorcycle market key players are Energica Motor Company S.p.A., and Zero Motorcycles, Inc. among others. 

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Electric Scooter and Motorcycle Market Regional Analysis 

In the Asia Pacific region, the market holds significant prominence. According to the China Association of Automobile Manufacturers (CAAM), sales of electric two-wheelers, including scooters and motorcycles, exceeded 40 million units in China in 2023, underscoring the vast scale of this market in the region.

Government policies play a crucial role in increasing the demand of electric scooter and motorcycle market. In many Asian countries, including India, initiatives like the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme offer substantial subsidies and tax incentives for purchasing electric two-wheelers. These incentives encourage consumers to opt for electric vehicles, thereby boosting sales and adoption rates.

Furthermore, governments are investing in infrastructure to support electric vehicles. In India, for instance, there are plans to establish charging stations every 25 kilometres along major highways, addressing a critical concern for potential electric vehicle buyers and facilitating easier access to charging facilities.

Key Highlights of the Report

Electric Scooter and Motorcycle Market Report Snapshots

Electric Scooter and Motorcycle Market Size

Electric Scooter and Motorcycle Market Growth

Electric Scooter and Motorcycle Market Trends

Electric Scooter and Motorcycle Market Share

Electric Scooter and Motorcycle Companies

Electric Scooter and Motorcycle Market Regional Analysis