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Low-Powered Electric Motorcycle and Scooter Market Share

Report ID: GMI12283
Published Date: Nov 2024
Report Format: PDF

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Low-Powered Electric Motorcycle and Scooter Market Share

Honda Motor Co., Ltd., Yadea Group Holdings Ltd., and TVS Motor Company collectively held a substantial market share of over 11% in the low-powered electric motorcycle and scooter industry in 2024. Honda is advancing its position in the low-powered electric motorcycle and scooter industry by focusing on developing affordable and efficient e-scooters with advanced battery technology. Concurrently, the company is enhancing its global EV infrastructure and strengthening its product lineup, including the Honda PCX Electric. Additionally, Honda is collaborating with local partners to enter emerging markets.

Yadea emphasizes innovation, high-quality manufacturing, and environmental sustainability in its electric scooter offerings. The company is expanding its global presence and prioritizing partnerships to enhance its research and development capabilities. Yadea promotes the energy efficiency and smart features of its products, focusing on urban mobility solutions and providing strong after-sales services in key markets.

TVS Motor Company is investing in electric mobility with the launch of models like the iQube, which combine innovative features with performance. The company focuses on integrating advanced technology, including IoT connectivity and battery swapping infrastructure. TVS aims to expand its electric vehicle range, improve product quality, and leverage strategic partnerships to grow in both domestic and international markets.

Low-Powered Electric Motorcycle and Scooter Market Companies

Major players operating in the low-powered electric motorcycle and scooter industry are:

Ather Energy
Bajaj Auto
Gogoro
Hero Electric Vehicles
Honda Motor
KTM AG
NIU Technologies
Ola Electric Mobility
TVS Motor Company
Yadea Group Holdings

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of low-powered electric motorcycle and scooter reached USD 14.4 billion in 2024 and is set to grow at a 6.3% CAGR from 2025 to 2034, driven by government initiatives and subsidies promoting EV adoption.

The offline segment held around 70% of the market share in 2024, as consumers prefer visiting physical stores or authorized dealerships to test drive and evaluate features before purchasing.

The Asia Pacific region accounted for 55% of the market share in 2024 and is expected to exceed USD 14 billion by 2034, driven by robust manufacturing infrastructure and substantial government support in China.

Major players in the industry include Ather Energy, Bajaj Auto, Gogoro, Hero Electric Vehicles, Honda Motor, KTM AG, NIU Technologies, Ola Electric Mobility, TVS Motor Company, and Yadea Group Holdings.