Electric Scooter and Motorcycle Market Analysis and Global Forecast 2023-2033

Electric Scooter and Motorcycle Market Overview

The Electric Scooter and Motorcycle Market Size is expected to reach USD 18.96 Billion by 2033. The Electric Scooter and Motorcycle industry size accounted for USD 5.01 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.14% from 2023 to 2033. Electric scooters and motorcycles are two-wheeled vehicles powered by electric motors, designed for personal transportation and commuting purposes. Unlike their gas-powered counterparts, these vehicles run on rechargeable batteries, emitting zero emissions during operation. Electric scooters typically feature a step-through frame, smaller wheels, and a standing platform, making them well-suited for short-distance urban travel. In contrast, electric motorcycles resemble traditional motorcycles in appearance but are equipped with electric drivetrains, offering quiet operation, smooth acceleration, and reduced maintenance requirements. Both electric scooters and motorcycles contribute to sustainable mobility goals by reducing greenhouse gas emissions and reliance on fossil fuels, aligning with global efforts to combat climate change and improve air quality in urban environments.

Global Electric Scooter and Motorcycle Market Synopsis

COVID-19 Impact Analysis

The Electric Scooter and Motorcycle market experienced a notable impact from the COVID-19 pandemic. With lockdowns and restrictions on movement implemented worldwide to curb the spread of the virus, there was a significant shift in consumer behavior towards personal mobility solutions. As individuals sought alternatives to public transportation to minimize the risk of exposure to the virus, the demand for electric scooters and motorcycles surged. This trend was particularly evident in urban areas where these vehicles offered a convenient and socially distanced mode of transportation for short-distance travel. Additionally, the pandemic prompted governments and urban planners to prioritize sustainable mobility solutions, leading to increased investments in infrastructure and incentives for electric vehicle adoption. While the pandemic initially disrupted supply chains and manufacturing operations, the market quickly rebounded as manufacturers adapted to new safety protocols and consumer preferences, further driving the growth of the electric scooter and motorcycle market.

Electric Scooter and Motorcycle Market Dynamics

The major factors that have impacted the growth of Electric Scooter and Motorcycle are as follows:

Drivers:

Ø  Environmental Awareness and Regulatory Support

The growing concern over environmental degradation and the need to mitigate climate change are driving forces behind the surge in demand for electric scooters and motorcycles. Government initiatives worldwide, such as subsidies, tax incentives, and emission regulations, are encouraging the adoption of electric vehicles. This driver not only promotes sustainable transportation solutions but also fosters innovation and investment in the electric scooter and motorcycle market.

Restraint:

• Infrastructure Challenges and Range Anxiety

Despite the increasing popularity of electric two-wheelers, challenges remain in infrastructure development, including the availability of charging stations and battery range limitations. Range anxiety, the fear of running out of battery charge during travel, continue to be a significant barrier to widespread adoption. Additionally, inadequate charging infrastructure in certain regions may deter potential consumers from transitioning to electric scooters and motorcycles, limiting market growth.

Opportunity:

⮚      Urbanization and Last-Mile Connectivity

The rapid pace of urbanization and the consequent rise in traffic congestion present a significant opportunity for electric scooter and motorcycle manufacturers. These vehicles offer a practical solution for last-mile connectivity, particularly in densely populated urban areas where traffic congestion is a persistent challenge. Furthermore, the compact size and maneuverability of electric scooters make them ideal for navigating crowded city streets, providing commuters with a convenient and efficient mode of transportation for short-distance travel.

Electric Scooter and Motorcycle Segment Overview

By Product

Based on Product, the market is segmented based on E-Scooter/Moped, E-Motorcycle. The E-Scooter/Moped segment asserts dominance in the Electric Scooter and Motorcycle Market, offering versatile, eco-friendly transportation solutions tailored for urban commuting and short-distance travel, driving widespread adoption and market leadership.

By Battery Type

Based on Battery Type, the market has been divided into Sealed Lead Acid and lithium-ion. Sealed Lead Acid batteries dominate the Electric Scooter and Motorcycle Market due to their reliability, affordability, and widespread availability, providing a trusted power source for electric vehicles and driving market dominance with proven performance.

By Voltage

Based on Voltage, the market has been divided into 36V, 48V, 60V, and 72V. The 36V voltage standard dominates the Electric Scooter and Motorcycle Market due to its optimal balance between power output and battery efficiency, offering a widely accepted and reliable solution for electric vehicle propulsion, driving market dominance with superior performance and compatibility.

By Technology Type

Based on Technology Type, the market has been divided into Plug-In, Battery. The Plug-In segment asserts dominance in the Electric Scooter and Motorcycle Market due to its convenient charging infrastructure, user-friendly operation, and versatility, driving widespread adoption and market leadership with seamless integration and accessibility.

Global Electric Scooter and Motorcycle Market Regional Analysis

Based on region, the global Electric Scooter and Motorcycle market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Electric Scooter and Motorcycle market followed by the Asia-Pacific and Europe regions.

Electric Scooter and Motorcycle North America Market

North America stands at the forefront of the Electric Scooter and Motorcycle market, holding a dominant position driven by several key factors. The region benefits from robust technological innovation and a strong regulatory framework supporting the adoption of electric vehicles. Consumer awareness regarding environmental sustainability and the need for alternative transportation solutions further propels the market. Additionally, North America’s developed infrastructure, including charging networks and urban mobility initiatives, fosters the widespread acceptance and usage of electric scooters and motorcycles. With a growing emphasis on reducing carbon emissions and enhancing urban mobility, North America continues to lead the global market, shaping the future of electric two-wheelers in the region.

Electric Scooter and Motorcycle Asia-Pacific Market

The Asia-Pacific region has rapidly emerged as the fastest-growing market for the Electric Scooter and Motorcycle industry, fueled by several compelling factors. With a burgeoning population and increasing urbanization, the demand for affordable and sustainable transportation solutions has soared across the region. Government initiatives promoting electric vehicle adoption, coupled with growing environmental concerns and stringent emission regulations, have further accelerated market growth. Moreover, the presence of key manufacturing hubs and technological advancements in countries like China, India, and Japan have bolstered production capabilities and fostered innovation, driving the expansion of the electric scooter and motorcycle market in the Asia-Pacific region. As consumer preferences shift towards eco-friendly mobility options, the region continues to witness robust growth and is poised to remain a pivotal player in shaping the future of the electric two-wheeler industry.

Competitive Landscape

The global Electric Scooter and Motorcycle market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• Yadea Group Holding Ltd.
• Hero Electric
• Vmoto Limited
• Electrotherm Ltd.
• Jiangsu Xinri E-Vehicle Co., Ltd.
• Energica Motor Company
• Piaggio Group
• Mahindra and Mahindra Ltd.
• Harley Davidson
• TORROT ELECTRIC EUROPA S.A.

Key Development

In November 2022, Honda Motor Co. introduced the EM1 electric scooter, powered by the Honda Power Pack. With a range of up to 40 km on a single charge, the scooter is set to debut in Europe in early 2023, marking Honda’s entry into the European electric two-wheeler market.

Also in November 2022, at EICMA 2022, Italian electric motorcycle manufacturer Energica Motor Company SpA revealed its 2023 lineup, which includes updated versions of the Energica Experia, Energica Ego, and Energica EssEss9.

Scope of the Report

Global Electric Scooter and Motorcycle Market, by Product

• E-Scooter/Moped
• E-Motorcycle

Global Electric Scooter and Motorcycle Market, by Battery Type

• Sealed Lead Acid
• Lithium-Ion

Global Electric Scooter and Motorcycle Market, by Voltage

• 36V
• 48V
• 60V
• 72V

Global Electric Scooter and Motorcycle Market, by Technology Type

• Plug-In
• Battery

Global Electric Scooter and Motorcycle Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

 

Parameters	Indicators
Market Size	2033: $18.96 Billion
CAGR	5.14% CAGR (2023-2033)
Base year	2022
Forecast Period	2023-2033
Historical Data	2021
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Product, Battery Type, Voltage, Technology Type
Geographies Covered	North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors	Yadea Group Holding Ltd., Hero Electric, Vmoto Limited, Electrotherm Ltd, Jiangsu Xinri E-Vehicle Co., Ltd., Energica Motor Company, Piaggio Group, Mahindra and Mahindra Ltd., Harley Davidson, TORROT ELECTRIC EUROPA S.A.
Key Market Opportunities	• Urbanization and congestion • Technological advancements
Key Market Drivers	• Environmental concerns and regulatory support • Rising fuel costs

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Electric Scooter and Motorcycle market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Electric Scooter and Motorcycle market historical market size for the year 2021, and forecast from 2023 to 2033
• Electric Scooter and Motorcycle market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Electric Scooter and Motorcycle market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.