Electric Two-wheeler Market Size - By Vehicle Type (Electric Motorcycle, Electric Scooter, E-Bikes, Electric Kick Scooter), Battery (SLA, Li-ion), Motor Placement (Hub-motor, Frame-mounted Motor), Motor Power, Motor Speed & Global Forecast, 2023 - 2032

Electric Two-wheeler Market Size

Electric Two-wheeler Market size was valued at USD 70.1 billion in 2022 and is anticipated to register a CAGR of over 6% between 2023 and 2032. Increasing fuel prices are driving the market growth as consumers seek more cost-effective & eco-friendly transportation options. For instance, in August 2023, petrol prices in the UK surged up to USD 180 per liter. Electric two-wheelers offer relief from rising gasoline expenses, making them an attractive choice for budget-conscious individuals and businesses looking to reduce operating costs while contributing to environmental sustainability.
 

The electric two-wheeler market is experiencing significant growth due to rising technological advancements. Manufacturers are constantly innovating to enhance the performance, range, and features of electric scooters & motorcycles. These advancements include improvements in battery technology, motor efficiency, connectivity features, and the use of lightweight materials. As a result, electric two-wheelers are becoming more appealing to consumers, offering longer ranges, faster charging times, and smart features. This technological progress is driving the adoption of electric two-wheelers and contributing to market expansion as they address the demand for cleaner & more efficient urban transportation solutions.
 

The challenge of limited vehicle range and low availability of charging stations are significant hurdles in the electric two-wheeler market. Electric scooters and motorcycles often have a limited driving range compared to traditional gasoline-powered vehicles, which can cause anxiety among riders. Additionally, the lack of charging infrastructure, especially in rural or less densely populated areas, can deter potential buyers.
 

Government and private companies should invest in expanding their charging networks, especially in urban and suburban areas. Incentives and subsidies can encourage private charging station setups. Manufacturers can introduce hybrid models with a small gasoline engine acting as a generator to extend the range when needed. Manufacturers can design electric two-wheelers with removable or swappable batteries and provide portable chargers, allowing riders to charge their batteries at home or workplace.
 

COVID-19 Impact

The COVID-19 pandemic accelerated the electric two-wheeler market by highlighting the need for eco-friendly and personal mobility solutions. Lockdowns and health concerns prompted people to seek alternatives to public transport. Electric scooters and e-bikes emerged as ideal choices for short trips, offering reduced exposure to crowded environments and decreased reliance on traditional gasoline-powered vehicles. This shift in consumer behavior, driven by the pandemic, boosted the adoption of electric two-wheelers and heightened awareness of their benefits.
 

Electric Two-wheeler Market Trends

Urban mobility solutions are gaining traction in the electric two-wheeler industry as a response to the challenges of urban congestion and the need for sustainable transportation. Electric scooters and bikes offer a convenient, eco-friendly & cost-effective way for people to navigate crowded cities and cover short distances. Shared mobility services including scooter and bike-sharing platforms have gained popularity, allowing users to access electric two-wheelers on-demand through smartphone apps. This trend is driven by the desire for convenient & flexible transportation options that reduce traffic congestion and contribute to cleaner, more liveable urban environments.
 

The trend of customization and personalization in the electric two-wheeler market reflects a growing consumer demand for vehicles that align with their unique preferences and needs. These customization options allow buyers to select from various colors, designs, features, and accessories. This level of personalization enhances the overall ownership experience and creates a sense of individuality among riders. Electric two-wheeler brands recognize that catering to these personalized preferences can lead to greater customer satisfaction and brand loyalty.
 

For instance, in July 2023, Ryvid launched a first-of-its-kind customizable EV motorcycle named Anthem. The electric motorcycle offers exceptional customizability with features such as an adjustable seat, lightweight chassis, modular design, and a removable 4.3 kWh battery pack for convenient charging.
 

Electric Two-wheeler Market Analysis

The e-bike segment held major electric two-wheeler market share in 2022. E-bikes provide an eco-friendly & cost-effective mode of transportation, appealing to environmentally conscious consumers. They offer a convenient alternative for short commutes and last-mile connectivity, reducing reliance on traditional vehicles. Advancements in battery technology have improved the range and performance of e-bikes, making them more practical for daily use.
 

E-bikes often come with smart features and connectivity options, enhancing the overall riding experience & attracting tech-savvy riders. These factors are driving the demand for e-bikes and boosting market demand. Various startup companies are investing in e-bikes. For instance, in August 2023, Ultraviolette Automotive, a startup based in India, launched the F77 Space edition electric bike. This innovative electric two-wheeler offers advanced features and technology to cater to the evolving preferences of riders in India.
 

The Li-Ion segment recorded over 87% of the electric two-wheeler market share in 2022. Li-ion batteries offer higher energy density, providing electric bikes & scooters with a longer range and improved performance. These batteries are relatively lightweight, reducing the overall vehicle weight and enhancing manoeuvrability. Advancements in Li-ion battery technology have led to faster charging times, addressing the concerns of lengthy charging processes. The environmental benefits of Li-ion batteries align with the sustainability goals of eco-conscious consumers, propelling their adoption of electric two-wheelers. These factors collectively make Li-ion batteries a key contributor to the market size.
 

Asia Pacific electric two-wheeler market accounted for 78% of revenue share in 2022 and is set to reach USD 54.9 billion by 2032. The densely populated urban areas in Asia Pacific are witnessing increased demand for sustainable & cost-effective transportation options, making electric scooters and bikes an attractive choice for daily commuting. Government initiatives promoting clean energy and reduced carbon emissions are encouraging the adoption of electric vehicles, further driving electric two-wheeler market value.
 

Additionally, the presence of prominent electric two-wheeler manufacturers and the development of robust charging infrastructure are bolstering market expansion in the Asia Pacific region, making it a significant player in the global electric mobility landscape. For instance, in August 2023, Revolt Motors, an Indian EV manufacturer, launched the Stealth Black edition of its RV400 electric motorcycle, emphasizing style and performance. The bike features a striking blacked-out design with angular panels and gold inverted forks, blending modern aesthetics with classic motorcycle spirit. Powered by a 3.24 kWh battery, it offers a range of nearly 100 miles, showcasing the evolution of electric motorcycles in India.
 

Electric Two-wheeler Market Share

Major companies operating in the electric two-wheeler market are:

• Yamaha Motor Co.Ltd
• Hero Electric
• Zero Motorcycles
• Vmoto Limited
• Emco Electroroller GmbH Pedego Electric Bikes.

These companies are focused on strategic partnerships, new product launches, and commercialization efforts for market expansion. They are also heavily investing in research to introduce innovative products and garner the maximum market revenue.
 

Electric Two-wheeler Industry News

• In July 2023, Tesla announced plans to launch an electric quad bike for kids in China, drawing design inspiration from its Cybertruck. The stylish & eco-friendly kid-sized quad bike aligns with Tesla's broader vision of promoting sustainable transportation among young enthusiasts.
   

This electric two-wheeler market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and volume (Units) from 2018 to 2032 for the following segments:

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Market, By Vehicle Type

• Electric motorcycle
  • Urban
  • Cruiser
  • Café racer
  • Off-road
• Electric scooter
• E-bikes
• Electric kick scooter

Market, By Battery

• SLA
• Li-Ion

Market, By Motor Placement

• Hub-motor
  • Gear
  • Gearless
• Frame-mounted motor

Market, By Motor Power

• 48V
• 60V
• 72V
• Others

Market, By Motor Speed

• Below 3.5 kW
• 3.5 kW – 6.5kW
• Above 6.5 Kw

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

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Poland
  • Netherlands
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Taiwan 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia