Electric Transporters Market Size - By Electric Vehicle, By Voltage, By Battery, By End Use, Analysis, Share, Growth Forecast, 2025 – 2034

Electric Transporters Market Size

The global electric transporters market size was valued at USD 54.5 billion in 2024 and is projected to grow at a CAGR of 7.3% between 2025 and 2034. Rising global fuel prices and volatility in traditional energy markets are prompting businesses to seek cost-effective alternatives. For instance, according to the International Energy Agency, in November 2024, Brent crude oil was priced at USD 75.29 per barrel, WTI oil at USD 71.47, and the OPEC basket at USD 74.02.
 

Additionally, oil prices are expected to increase by USD 5/barrel and reach USD 80/bbl. Electric transporters offer significant savings on fuel and maintenance costs. Total cost of ownership increasingly favors electric options, especially in regions with stable electricity prices or access to renewable energy sources.
 

Governments enforce stricter emission regulations and environmental policies, particularly in urban areas. These include low-emission zones, carbon taxes, and incentives for electric vehicle adoption. Consequently, logistics companies and businesses are transitioning their fleets to electric alternatives, driving substantial demand for electric transporters. This trend is especially strong in Europe and parts of Asia, where cities are setting ambitious zero-emission goals. Additionally, many countries are driving e-bike adoption through supportive regulations, incentives, and safety campaigns. In February 2024, the UK government issued guidelines to improve consumer awareness and safety regarding the purchase, charging, and operation of e-bikes.
 

Electric Transporters Market Trends

Electric transporters such as ep-cargo bikes are increasingly used in logistics, urban delivery, and personal transport due to their versatility, low environmental impact, and cost savings over traditional vehicles. As cities face congestion and emissions regulations, logistics providers and retailers in Europe and North America are adopting e-cargo bikes for last-mile deliveries.
 

For instance, in September 2024, Zedify significantly cut carbon emissions by using cargo bikes for last-mile deliveries. This strategy achieved a 95% reduction in carbon emissions per kilometer compared to diesel vans and an 82% reduction compared to electric vans. These bikes can carry significant weight, enabling the transport of goods, groceries, and equipment over short distances which is further driving the trend.
 

Range limitations significantly challenge the market, affecting adoption and user satisfaction. Most e-bikes offer a range of 20 to 60 miles per charge under optimal conditions, but real-world factors like terrain, rider weight, and speed often reduce this range, causing "range anxiety" among potential buyers. Enhancing battery size and capacity can extend range but increases costs and weight, making e-bikes less affordable and harder to handle. Additionally, charging infrastructure remains limited, particularly in urban areas. The market is thus focusing on more efficient battery technology, regenerative braking systems, and compact charging solutions to address these range issues effectively.
 

Electric Transporters Market Analysis

Based on the electric vehicle, the market is segmented into two-wheelers and personal transporters. In 2024, the two-wheelers segment accounted for over 95% of the market share and is expected to exceed USD 103.5 billion by 2034. Standardized battery-swapping networks are transforming e-scooter and e-motorcycle usage in urban areas. Companies are establishing stations for quick battery exchanges, eliminating charging wait times and reducing range anxiety.
 

Taiwan and India lead this trend, with Gogoro and Hero MotoCorp developing extensive networks. For instance, in December 2023, Gogoro began producing electric scooters in India and plans to set up around 100 battery swap stations by H2 2024, marking its entry into one of the world's fastest-growing vehicle markets. The company has committed to investing USD 1.5 billion in Maharashtra, including a factory to manufacture its Crossover e-scooter in partnership with Foxconn. This model is particularly advantageous for delivery fleets and ride-sharing services, where minimizing downtime is crucial.  
 

Based on the battery, the electric transporters market is divided into lithium-ion, lead-acid, nickel-metal hydride, and solid state. By 2034, the lithium-ion segment is expected to exceed USD 78.5 billion due to several key factors. Manufacturers are optimizing advanced battery chemistries like Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) for specific applications. LFP batteries, favored by commercial vehicles, offer cost-effectiveness, longer lifecycles, and enhanced safety despite lower energy density. High-nickel NMC formulations cater to applications requiring higher energy density. This diversification allows better alignment of battery characteristics with vehicle needs.
 

Additionally, integrating advanced Battery Management Systems (BMS) with AI and machine learning is becoming standard. These systems provide real-time battery health monitoring, predictive maintenance, and optimal charging strategies, thereby extending battery life, improving safety, and optimizing performance. Features like dynamic power distribution and advanced thermal management are crucial for commercial electric transport operations.
 

China electric transporters market accounted for 65% of the revenue share in 2024. China is rapidly expanding its battery swapping network for commercial electric transporters. Leading companies like NIO and BAIC are deploying automated battery swap stations, focusing on urban delivery vehicles and taxi fleets. This initiative addresses charging time concerns and supports 24/7 operations. Government policies and subsidies are driving this expansion, aiming for a nationwide network. The system allows vehicles to exchange depleted batteries for fully charged ones in under five minutes, reducing operational downtime significantly.
 

European cities are increasingly establishing zero-emission zones, prompting the development of specialized electric transporters. Manufacturers are designing vehicles to meet urban access restrictions, featuring noise reduction and compact dimensions. This trend is strong in countries like the Netherlands and Denmark, where city centers are transitioning to zero-emission zones.
 

In North America, there is a focus on developing specialized electric vehicles for last-mile delivery. Major retailers and logistics companies are partnering with manufacturers to create purpose-built electric delivery vehicles optimized for North American delivery patterns. These vehicles feature modular designs, advanced telematics, and ergonomic features for frequent-stop delivery operations.
 

Electric Transporters Market Share

Yamaha Motor Company, Zero Motorcycles, and Giant Group collectively held a substantial market share of over 10% in the electric transporters industry in 2024. Yamaha is expanding its EV lineup with models like the E01 electric scooter and plans to introduce more EVs, including scooters, motorcycles, and bicycles, to meet sustainability demands in Asia, Europe, and North America. Partnering with Gogoro for battery-swapping technology, Yamaha aims to enhance infrastructure and accelerate e-mobility adoption, especially in urban Asia.
 

Zero is positioning itself as a premium EV motorcycle brand, focusing on high-performance models for experienced riders in North America and Europe. The company is expanding its dealership and distribution network to increase brand visibility and accessibility, particularly in the U.S., Europe, and Australia.
 

Giant is increasing e-bike production to meet rising global demand, with a strong presence in the U.S. and Europe. Offering diverse e-bike models for recreational, commuter, and cargo needs, Giant leverages both traditional retail and direct-to-consumer channels to expand its market share, especially in North America.
 

Electric Transporters Market Companies

Major players operating in the electric transporters industry are:

• BMW Motorrad
• Giant Group
• Harley-Davidson
• Hero MotoCorp
• KYMCO
• Niu Technologies
• Segway Ninebot
• Yadea
• Yamaha Motor
• Zero Motorcycles
   

Electric Transporters Industry News

• In November 2024, LiveWire, a leader in electric motorcycles, and KYMCO, a powersports giant, expanded their strategic partnership to develop LiveWire's first electric maxi-scooter for the European market. LiveWire will provide its S2 powertrain technology, while KYMCO will contribute its scooter innovation expertise.
   
• In July 2024, Niu Technologies announced its retail expansion into over 800 Best Buy stores across the United States. This strategic move aims to accelerate the adoption of electric two-wheelers in the U.S. Consumers can now purchase NIU’s electric kick-scooters (KQi series) and e-bikes (BQi series) at Best Buy stores, online at BestBuy.com, and through the Best Buy Mobile App.
   

The electric transporters market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn), and volume (Units) from 2021 to 2034, for the following segments:

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Market, By Electric Vehicle

• Two-wheelers
  • E-bikes
  • E-scooters
  • Electric motorcycles
• Personal transporters
  • Skateboards
  • Hoverboards

Market, By Voltage

• 24V
• 36V
• 48V
• Above 48V

Market, By Battery

• Lithium-ion
• Lead-acid
• Nickel-metal hydride
• Solid state

Market, By End Use

• Personal
• Commercial

The above information is provided for the following regions and countries:

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