Published: 2019 September 09

Electric Motorcycles and Scooter Market Insights, Trends & Growth Outlook 2022-2029

SKU : 2000
180 pages
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Table of Contents
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Global Electric Motorcycles and Scooter Market is segmented By Battery Type (Sealed Lead Acid, Ni-MH, Lithium-ion), By Technology (Removable Battery, Plug-in), By Product (Scooter, Motorcycles), By Voltage type (Below 24V, 24V to 50 V, Above 50V), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029


Market Overview:

The Global "Electric Motorcycless and Scooter Market" is expected to grow at a CAGR of 3.7% during the forecasting period (2022-2029).

Electric two-wheelers, as indicates themselves, are electrically-powered two-wheelers. A battery pack and a motor are installed to store and transform the electricity to mechanical work. User control is usually attached to the handlebar to brake and adjust the speed. Different types and styles are available to consumers in the market, and these features are still developing.

Market Dynamics:

Growing demand for alternative fuel vehicles globally and encouragement from the local governments for the adoption of zero-emission vehicles are the major drivers for the market's growth.

An alternate Fuel Vehicle is defined as a vehicle that runs on a fuel other than gasoline or diesel or powered by technology or otherwise, for example, electric, hybrid electric, or solar-powered vehicles. Electric Vehicles are picking up a reputation due to the increasing environmental concerns and the requirement for a supportable ecosystem in the automotive business. Like all-electric vehicles, even electric Motorcycles boast environmental benefits. Electric motors are cleaner than gas engines because they don’t use fuel and oil that emit pollutants into the atmosphere.

Different nations have set strategies to decrease contamination levels from vehicle emanations, which is a favorable factor for the electric Motorcycles and scooter market growth. Globally, electric vehicle units are increasing, and companies are focusing on increasing their production units worldwide. For instance, Hero Electric has 600 touchpoints across India. This makes Hero Electric the largest electric two-wheeler player in terms of dealership reach. The company plans to more than double its reach by 2021, and its dealerships will be equipped with both sales and service.

The huge cost of electric vehicles, mainly due to the high cost of battery used in these vehicles, is the key factor hampering the electric Motorcycles and scooter market's adoption. Lack of proper infrastructure for electric vehicles to charge and lack of skilled labor force for technical assistance are the other key factors hampering the market growth worldwide.

Market Segmentation:

The market is segmented by Technology Type into removable batteries and plug-in. A plug-in electric vehicle (PEV) is any vehicle that can be recharged from an external source of electricity, such as wall sockets, and the electricity stored in the rechargeable battery packs drives or contributes to driving the wheels. Today’s PEVs are state-of-the-art highway vehicles ready to match or surpass the performance of their conventional vehicles. PEVs in all-electric mode are much quieter than conventional vehicles and, unlike conventional vehicles, produce maximum torque and smooth acceleration from a full stop. The sales of plug-in electric vehicles have greater potential. For instance, India, the world's largest market for scooters and Motorcycles, has annual domestic sales of over 19 million in the fiscal year ended March 31, 2018, which is six times of car sales over the same period.

The market is segmented by Battery Type into sealed lead acid, Ni-MH, and Lithium-ion. The lithium-ion segment holds XX% of the market share in 2018 and is expected to increase by XX% by 2026 in the Global Electric Motorcycles and Scooter Market. Lithium-ion battery separators are also used to avoid physical contact among anode and cathode while assisting ion transport by averting short circuits, expanding the lithium-ion battery's consistency and quality. A lithium-ion battery starts an electric motor quicker because lithium has a lower impedance, allowing the transmission of energy in one stroke only, which is the major advantage of electric Motorcycles and scooters.

Asia has several vertically integrated companies with 20 years of experience in making lithium-ion batteries, thus increasing electric vehicles' development, which will drive the growth for lithium-ion batteries in the forecast period to 2026. As a result of stringent government guidelines on the automotive industry and transport sector for carbon discharge, makers are moving towards lithium-ion batteries in vehicles and modern applications, leading to the development of electric Motorcycles and scooters globally. Hero Electric was the first brand to launch a lithium-ion-powered electric scooter in India.

By Product, the market is segmented as scooters and Motorcycles. By Voltage Type, the market is segmented into below 24V, 24V to 50V, and above 50V.

Geographical Analysis:

Geographically, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa.

The North America Electric Motorcycles and Scooter market size was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period. Faster adoption of electric vehicles (EVs) in the country is the major driving factor for the market. In terms of volume, the U.S. was a larger market for electric vehicles, contributing close to 85% share to the North American electric scooters and Motorcycles market in 2018. Support by the government in the form of financial and non-financial incentives for the procurement of these vehicles is the key driving factor for market growth. For instance, In November 2016, the Obama Government established 48 national EV corridor charging networks in 35 states at 25,000 miles’ intervals on highways.

The Asia Pacific Electric Motorcycles and Scooter market was valued at USD XX Million in 2018. It is estimated to grow at a CAGR of XX% over the forecast period to reach USD XX Million by 2026. The Asia Pacific is expected to hold the largest market share globally due to the improved manufacturing processes of companies in Asia that have made the Asia Pacific a major manufacturing hub for electric Motorcycles and scooters.

The Asia Pacific has been established as a center for the Electric vehicle market in recent years. China recorded the highest volume sales of e-scooters and e-Motorcycles in the Asia Pacific in 2017. China, Japan, and the Korean Republic already have developed the automobile industry and increasingly invading electric vehicle technologies, which will further support the growth in the electric Motorcycles and scooter market. The usage of electric vehicles is increasing every year. For instance, In Vietnam, there are some 900,000 electric two-wheelers in its cities in the year 2017, used mainly by high school students.

Competitive Analysis:

The competitive environment in the electric Motorcycles and scooter market is increasing in recent years with the entry of small and new players besides existing players invading the electric drive technology in recent years. Some of the major market players in the electric Motorcycles and scooters market are Alta Motors, Terra Motors Corporation, AIMA Technology Co Ltd, Ampere Vehicles Pvt Ltd Vehicles Pvt. Ltd, BMW AG, Yadea Technology Group Co. Ltd, Mahindra GenZe and Energica Motor Company S.P.A

Several manufacturers are adopting a direct and indirect distribution channel to attract more customers and make distribution simpler. Manufacturers focus on building direct distribution channels through various B2B customers and adopting e-commerce channels for electric Motorcycles & scooters sales.

Companies are focusing on launching new products globally due to the high demand from different applications.

For instance, Harley Davidson launched their electric bike, focusing on EVs to be launched in the U.S. by 2021. In 2017, Yamaha launched two EVs globally, Passion E-Street and Passion E-Dirt, providing 62 mph highway speeds.


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