Electric Motorcycle & Scooters (EMS) Market Size - By Product (Motorcycle, Scooters), By Battery (SLA, Li-ion), By Voltage (24V, 36V, 48V), Growth Prospects, Regional Outlook & Forecast, 2024 - 2032

Electric Motorcycle & Scooters Market Size

Electric Motorcycle & Scooters Market size was valued at USD 35 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032. The market is expected to witness significant growth with the advancement in battery technology. New batteries employ chemicals such as lithium-ion NMC and LFP, which provide much better energy density than earlier technologies. This equates to greater ranges, which reduce range anxiety, a significant hurdle for potential buyers. In addition, innovations including solid-state electrolytes and ultra-fast charging technologies enable reduced charging periods. This makes electric vehicles more convenient, particularly for long-distance travel and city commuting.
 

For instance, in March 2023, an Indian-origin company, Brisk EV, introduced its two electric scooter models named Origin and Origin Pro, which claim a maximum range of 333 km on a single charge. These advancements in battery technology will drive the demand for electric motorcycles and scooters.
 

The increased focus on sustainability presents a significant opportunity for the electric motorcycle & scooters market. Electric vehicles including motorbikes and scooters emit zero exhaust emissions, resulting in cleaner air and lower greenhouse gas emissions. This is in line with the rising public knowledge & concern about climate change, prompting consumers to seek out more sustainable transportation alternatives.
 

Furthermore, governments are investing in the construction of charging infrastructure, which will enable owning and operating electric motorcycles & scooters more convenient. This contributes to the shift toward sustainable transportation, in turn, propelling market growth over the forecast period. For instance, in January 2024, the Gujarat Government (India) started the construction of an EV charging infrastructure to attract the investors for electric vehicle manufacturing. The overall goal is to create a favorable ecosystem for the adoption of electric vehicles and promote the overall development of the industry.
 

The high initial cost of electric motorcycles and scooters is a significant barrier & challenge to this sector. Many potential consumers, particularly budget-conscious consumers, are turned off by the high initial cost of electric motorcycles and scooters compared to their gasoline counterparts. This is particularly true in price-sensitive markets such as developing countries. Even with government incentives, the price gap can be substantial, especially for high-performance models or those with longer ranges.
 

Electric Motorcycle & Scooters Market Trends

The electric motorcycle and scooters industry is witnessing significant technological advancements, which are enhancing the performance, efficiency & user-friendliness of electric scooters, thereby making them a viable option for both urban commuters and leisure riders. Along with this, the advancements improve user experience and convenience by providing better connectivity & smart features and faster-charging capabilities. Overall sustainability also improves as advancement in manufacturing processes results in cleaner production and improved battery recycling processes.
 

For instance, in January 2024, WardWizard Innovations and Mobility, the parent company of Joy e-bike, unveiled a hydrogen-powered electric two-wheeler concept at the ongoing Bharat Mobility Global Expo 2024. WardWizard showcased its hydrogen fuel-cell & electrolyzer technology and how it will help run the electric scooter. These kinds of innovations will transform the market as EVs are transcending from being optional to becoming an essential need for most consumers.
 

Electric Motorcycle & Scooters Market Analysis

Based on product, the scooters segment accounted for 67% of the market share in 2023. Electric scooters are becoming more popular as a practical and eco-friendly means of transportation owing to advancements in battery technology, charging infrastructure, and government initiatives that promote electric mobility. There are several factors contributing to the overall popularity of electric scooters. These factors include their affordability, compact design & lightweight structure, and growing urbanization as increased population density in cities is fueling the demand for efficient & easy urban transportation, thereby favoring the scooters segment.
 

Based on battery, the Lithium-ion (Li-ion) battery segment held over 87% of the electric motorcycle & scooters market share in 2023. Li-ion batteries store substantially more energy per unit weight than alternatives such as lead-acid batteries, resulting in greater range and more compact vehicle designs. As EV adoption grows internationally, the need for Li-ion batteries will increase owing to their efficiency, quicker charging capabilities, and investments in electric mobility infrastructure, resulting in significant market growth. Compared to other battery types, Li-ion batteries also have a lower environmental effect throughout their lifespan, which is consistent with the increased emphasis on sustainability.
 

Asia Pacific electric motorcycle & scooters market recorded around 95% of the revenue share in 2023. With supportive government policies, technological advancements, rising environmental concerns, and growing consumer awareness, this region will continue to be a major driver of the global electric mobility revolution. Demand in the Asia Pacific region is being driven by a strong manufacturing ecosystem, technological breakthroughs, and an expanding middle class with high disposable income.
 

For instance, in November 2023, China’s electric vehicle sales hit the fourth consecutive record. The number of new registrations exceeded 870,000. The overall EV industry in China is at an all-time high, which will eventually propel the market growth opportunity for electric motorcycles and scooters.
 

Electric Motorcycle & Scooters Market Share

Jiangsu Xinri E-vehicle Co., Ltd and KTM Sport motorcycle GmbH holds over 10% of global electric motorcycle and scooters industry. Jiangsu Xinri E-vehicle Co., Ltd. is currently investing heavily in the development of a charging station network to reduce customer range anxiety and encourage the use of electric motorbikes & scooters. Collaboration with governments, corporations, and other stakeholders may speed up the construction of charging infrastructure.
 

KTM Sport motorcycle GmbH has a very strong brand recognition and an established reputation in the high-performance motorcycle market. It can introduce a range of electric motorcycles that cater to different performance and price segments. This will enable the company to cater to the existing customers while attracting new ones.
 

Electric Motorcycle & Scooters Market Companies

Major companies operating in the electric motorcycle and scooters industry are:

• AIMA Technology Group Co., Ltd.
• Ampere Vehicles Pvt Ltd.
• Energica Motor Company S.p.A
• GOVECS AG
• Harley Davidson
• Hero Electric
• Jiangsu Xinri E-vehicle Co., Ltd.
• KTM Sport motorcycle GmbH
• Niu Technologies
• SUNRA
• Tailing Electric Vehicle Co., Ltd.
• Terra Motors Corporation
• Vmoto Limited
• Yadea Technology Group Co., Ltd.
   

Electric Motorcycle & Scooters Industry News

• In December 2023, Yamaha invested in the battery-swapping company, Swapping Battery Network to establish a robust battery-swapping infrastructure across Europe for its upcoming electric scooters. This move will boost the overall charging ecosystem and will drive the market.
   
• In June 2023, Hero MotoCorp announced to invest up to USD 181.6 million in the development of premium bikes and EVs in India. The company stated that this decision is in line with the evolving framework regarding electric vehicles (EVs).
   

The electric motorcycle and scooters (EMS) market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and Volume (Units) from 2018 to 2032, for the following segments:

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Market, By Product

• Motorcycle
• Scooters

Market, By Battery

• SLA
• Li-ion

Market, By Voltage

• 24V
• 36V
• 48V
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA