Electric Motorcycles & Scooters Market Size & Share, by Product (Motorcycles, Scooters); Battery Type {SLA (Sealed Lead Acid), Lithium-Ion (Li-Ion) Battery}; Voltage Type (36V, 48V, 60V, 72V); Distance Covered (Below 75 Miles, 75-100 Miles, Above 100 Miles); Technology Type (Plug-in, Battery) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4722
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Electric Motorcycles & Scooters Market size is expected to surpass USD 56 billion by the end of 2035, witnessing around 6% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of electric motorcycles & scooters was USD 31 billion. The growth of the market can be attributed primarily to the increase in demand for electronic vehicles as a result of the stringent regulations on carbon emissions in places such as the Asia Pacific and Europe. It has been observed that the count of electric vehicles on the roads in Australia doubled at the beginning of 2023 to exceed ~82999, growing from ~43999 vehicles in the same period last year.

The global electric motorcycles & scooters market size is also projected to expand as a result of the progress in urbanization. The steady growth in urban population over the last few decades all over the world increases the need for convenient options in transportation. According to the World Bank, the number of people residing in urban areas worldwide in 2021 constituted 56% of the total world population, compared to 52% in 2011. The other factors contributing to the market growth include government initiatives to promote e-mobility, the escalating prices of petroleum-based fuels, and the low operational and maintenance expenditures on EVs. Further, the use of solar power to charge the batteries used in EVs should also lead to market growth.


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Electric Motorcycles & Scooters Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 6%

Base Year Market Size (2022)

~ USD 31 billion

Forecast Year Market Size (2035)

~ USD 56 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Electric Motorcycles & Scooters Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Stringent Regulations to Keep Carbon Emissions Under Check – It is estimated that the annual carbon dioxide emissions by a typical passenger vehicle should amount to 5 metric tons. However, this figure varies as per different kinds of fuel, the fuel economy, and the distance traveled by the vehicle per year. Several regulatory measures have been adopted by governments and other organizations to curb these emissions within a set time frame. For instance, as per the European Green Deal that was unveiled by the European Commission in 2020, the European Union (EU) should attain climate neutrality by 2050.  To achieve this goal, the EU has planned to reduce more than 89% of transportation-induced greenhouse gas emissions before 2050.

  • Supportive initiatives by Governments to Promote EVs – Several governments worldwide are adopting initiatives aimed at increasing the consumption of EVs. Tax reductions on EVs, a special electric mobility zone, and battery-swapping policies by the Government of India are instances of such initiatives. Further, in 2019, the Ministry of Heavy Industries under the Indian Government approved the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. As per FAME II, about 86% of a budgetary outlay equivalent to ~USD 1 billion would be used to increase demand for EVs in the country.

  • Grave Concern Regarding Air Pollution in Different Parts of the World – It is estimated that annually ~7 million people succumb to health complications after being exposed to poor air quality.

  • Steady Drop in the Price of Batteries Used in EVs – Lithium-ion batteries play a major role in the success of EVs in providing sustainable and environmentally friendly transportation. The global pricing of lithium-ion battery packs, which stood at ~ USD 181 per kilowatt hour in 2018, fell to ~ USD 138 per kilowatt hour in 2020. This pricing has been projected to drop further to reach ~ USD 59 per kilowatt hour in 2030.

Challenges

  • Problems related to the overheating of batteries and their ignition in EVs - It has been observed that yearly more than 2,820 electric cars catch fire worldwide. Though EVs catching fire is rarer when compared to gas-powered vehicles going through the same, it still poses a threat to the passengers in the EV. Hence, this threat is expected to hinder market growth significantly.
  • Uncertainties about the range of transportation for EVs among the consumers
  • Inadequate infrastructure, including a limited number of charging stations for EVs exists in some parts of the world


Electric Motorcycles & Scooters Segmentation

Product (Motorcycles, Scooters)

The global electric motorcycles & scooters market is segmented and analyzed for demand and supply by the product into motorcycles and scooters. Between these two, the motorcycles segment is estimated to gain a significant market share over the projected time frame. It has been projected that the demand for electric motorcycles would grow at the fastest rate during the forecast period. Such a remarkable growth of the segment could be attributed mainly to the limitations of the electric scooters concerning their range and performance. It has been observed that many electric motorcycles would outperform average lightweight electric scooters when it comes to speed and range. For instance, when an average e-scooter and average e-bike without pedaling are compared after a single recharge and in the absence of extra batteries, the average range of the e-scooter reaches ~33 km against that of the e-bike which falls anywhere between 31 and 57 km as per the battery size. This increased range makes e-motorcycles/e-bikes more favorable for long-distance commutes and different activities such as off-roading and racing.

Voltage Type (36V, 48V, 60V, 72V)

The global electric motorcycles & scooters market is also segmented and analyzed for demand and supply by voltage type into 36V, 48V, 60V, and 72V. Amongst these four segments, the segment for 48V is expected to garner a significant market share. This segment held a market share of 41% only in 2022. High power output to enable good performance is the major factor driving the demand for this voltage category in the market. A 48V battery for e-scooters or motorcycles has been observed to allow a current supply between 9 and 41 amperes. Such a current supply is considered ample for minimizing the power lag, which should otherwise occur with a battery of lower voltage. The 48V battery should provide good acceleration for the e-motorcycles and e-scooters and also stands out for its long charging cycles that avoid the need for frequent charging. Further, manufacturers are integrating regenerative braking and other advanced technologies into the 48V batteries. Such modifications would make 48V battery packs preferable for e-scooters and motorbikes and would lead to the segment’s growth in the market.

Our in-depth analysis of the global market includes the following segments:

         By Product

  • Motorcycles
  • Scooters

          By Battery Type

  • SLA (Sealed Lead Acid)
  • Lithium-Ion (Li-Ion) Battery

          By Voltage Type

  • 36V
  • 48V
  • 60V
  • 72V

          By Distance Covered

  • Below 75 Miles
  • 75-100 Miles
  • Above 100 Miles

          By Technology Type

  • Plug-in
  • Battery

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Electric Motorcycles & Scooters Industry - Regional Synopsis

APAC Market Statistics

The Asia Pacific electric motorcycles & scooters market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The region garnered ~91% of the market revenue in 2022. The growth of the market in the Asia Pacific region should be primarily attributed to the rising awareness of consumers regarding the need to limit carbon emissions and control air pollution. It has been observed that Asia Pacific contributed to over 51% of the total carbon dioxide emissions in the world in 2020. The region has some of the largest emitters of carbon, such as China and India. In 2020, about 60% of the region's carbon emissions came from China alone, while India contributed ~14% of the regional emissions.  Hence, several governments in the region are taking measures to promote e-mobility to curb the damage to air quality. The subsidies offered to the producers by the government and the very low tax rates for e-vehicles are instances of such measures. Therefore, all these factors are predicted to surge the growth of the market in the region.

Europe Market Forecast

Europe is another region that is projected to hold a significant share of the global market for electric motorcycles & scooters. Europe's market share can be attributed primarily to the high demand for electric two-wheelers in the region for various reasons. A boom has been observed in the sales of electric bikes in different parts of Europe during recent years. For instance, Italy, the sales of electric bikes grew up to 45% during the one year from 2019 and 2020. Moreover, this growth in sales continued through 2021. In addition, the Netherlands is another place in Europe that is showing remarkable growth in the demand for e-bikes. The sales for these bikes in the Netherlands have been projected to be twice that of the present by 2027. The demand for electric scooters and motorcycles in the region got a boost following the pandemic, as people started turning to cycle as a means of outdoor exercise while adhering to the needs of social distancing. Additionally, the consciousness of the people in the region about pollution and sustainability plays a big role in the regional market growth for electric two-wheelers.

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Companies Dominating the Electric Motorcycles & Scooters Landscape

top-features-companies
    • Lightning Motorcycles
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Niu International Co. Ltd.
    • Terra Motors India Pvt. Ltd.
    • Vmoto Limited ABN
    • Z Electric Vehicle
    • Zero Motorcycles, Inc.
    • BMW AG
    • Harley-Davidson, Inc.
    • Hero MotoCorp Ltd.
    • KTM Sportmotorcycle GmbH

In-the-news

In The News

  •  BMW AG announced its BMW Motorrad Austria having collaborated with Vagabund Moto GmbH to create the multifunctional e-scooter, BMW CE 04. The e-scooter for urban use comes with an attractive color scheme, including black, white, beige, and dark green. The scooter's various functional elements mainly target the youth.

  • Hero MotoCorp Ltd announced selling 4, 50,154 units of motorcycles and scooters in March 2022. This sales volume reflected a sequential growth over that of the month of February. In February 2022, the company successfully sold 358,254 units of scooters and motorcycles while recovering after the pandemic-induced decline.


Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 4722
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The strict regulations on carbon emissions and supportive initiatives by various governments are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

The overheating of batteries and EVs catching fire, customers being unsure about the EV’s range, and inadequate infrastructure are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Niu International Co. Ltd., Terra Motors India Pvt. Ltd., Vmoto Limited ABN, Z Electric Vehicle, Zero Motorcycles, Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, battery, voltage type, distance covered, technology type, and by region.

The motorcycles segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Electric Motorcycles & Scooters Market Report Scope
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