Global Electric Motorcycles And Scooters Market Size By Type, By Battery Type, By End-User, By Geographic Scope And Forecast

Electric Motorcycles And Scooters Market Size And Forecast

Electric Motorcycles And Scooters Market size was valued at USD 33.05 Billion in 2023 and is projected to reach USD 40.90 Billion by 2030, growing at a CAGR of 3.09% during the forecast period 2024-2030.

Global Electric Motorcycles And Scooters Market Drivers

The market drivers for the Electric Motorcycles And Scooters Market can be influenced by various factors. These may include

• Environmental Concerns and Regulations As people become more conscious of environmental problems like air pollution and climate change, they are choosing cleaner, more environmentally friendly modes of transportation. Since electric motorcycles and scooters emit no tailpipe emissions, they are appealing to customers who care about the environment. The industry is growing because of government rules that encourage the use of electric cars (EVs).
• Increasing Fuel Prices Consumers are looking for alternatives to traditional gasoline-powered automobiles due to fluctuating fuel prices and worries about energy security. Particularly in areas where gasoline prices are high, electric motorbikes and scooters are financially appealing due to their lower running costs and reduced reliance on fossil fuels.
• Technological developments in battery technology have resulted in the creation of electric bikes and scooters with greater range and quicker charging times. These developments include enhancements in energy density, charging efficiency, and battery longevity. By addressing important issues with range anxiety and charging infrastructure, these developments encourage market uptake.
• Government Tax Credits, Subsidies, and Incentives To encourage the use of electric vehicles, such as electric scooters and motorbikes, several governments throughout the world provide tax breaks, subsidies, and incentives. These incentives lower the initial cost of electric two-wheelers and increase demand. Examples of these incentives include purchase rebates, tax exemptions, and free parking privileges.
• Urbanization and Traffic Congestion As a result of the city’s growing air pollution and traffic congestion, politicians are pushing for the use of electric vehicles as part of sustainable urban mobility solutions. The market for electric motorbikes and scooters is expanding because of how well-suited they are for traversing crowded urban situations due to their small size and mobility.
• Technological Innovations and Product Development Manufacturers’ continuous research and development initiatives have resulted in the release of electric scooters and motorbikes with enhanced safety features, performance, and visual appeal. Innovative elements that increase the attractiveness of electric two-wheelers and pique consumer interest include regenerative braking systems, intelligent connectivity features, and lightweight materials.
• Shifting Consumer Preferences Compared to internal combustion engine vehicles, electric vehicles require less maintenance and operate quietly, which has enticed consumers to them. They also accelerate smoothly. The market demand for electric bikes and scooters has been stimulated by the growing acceptance of electric cars.
• Micro-Mobility and Ride-Sharing Trends Last-mile transportation choices that are both convenient and environmentally friendly may now be found with electric motorbikes and scooters thanks to the growth of ride-sharing services and micro-mobility solutions. Partnerships between ride-sharing businesses and producers of electric two-wheelers help to accelerate market expansion.
• Brand Awareness and Marketing Initiatives Celebrities’ and influencers’ endorsements, together with the manufacturers of electric motorbikes and scooters’ increased marketing activities, assist spread the word about the advantages of electric mobility and encourage customer acceptance. Purchase decisions are significantly influenced by factors such as positive brand perception and brand recognition.
• Impact of the Global Epidemic Individual mobility options and sustainable transportation have become more popular as a result of the COVID-19 epidemic. The market is growing because of the growing interest in electric motorbikes and scooters as viable alternatives due to concerns about public transportation safety and the demand for personal mobility options.

Global Electric Motorcycles And Scooters Market Restraints

Several factors can act as restraints or challenges for the Electric Motorcycles And Scooters Market. These may include

• High Initial Cost Compared to their traditional counterparts with internal combustion engines, electric motorcycles, and scooters typically have greater upfront expenses. This upfront cost barrier may discourage prospective purchasers, especially in areas with limited incentives or subsidies for electric vehicles (EVs).
• Limited Range and Charging Infrastructure When it comes to electric bikes and scooters, range anxiety is still a major concern for buyers. Many versions have a short battery life, making them unsuitable for daily commuting or long-distance travel, particularly in places with poor infrastructure for charging. The absence of easily available charging stations may worsen users’ range anxiety and prevent adoption.
• Performance and Speed Restrictions Although electric scooters and motorbikes provide smooth acceleration and immediate torque, certain models could not be as fast as their gasoline-powered counterparts. This may reduce their attractiveness to enthusiasts and those looking for high-performance cars for travel or leisure.
• Battery Technology and Weight Battery technology has a major impact on the range and performance of electric scooters and bikes. Battery energy density, weight, and cost are still major obstacles despite progress. Limited energy density can limit range and performance, while heavy batteries might impair vehicle control and agility.
• Perception and Awareness Consumers may still be unaware of or harbor false beliefs about electric motorbikes and scooters despite rising environmental consciousness and worries about air pollution. Adoption of electric vehicles may be impeded by potential purchasers’ perceptions that they are less practical or dependable than conventional gasoline-powered automobiles.
• Regulatory Obstacles Different regions and nations have very different laws and policies pertaining to car safety standards, license requirements, and incentives for electric vehicles. Regulations that are too stringent or inconsistent can impede the expansion of the market and provide obstacles to entrance for both consumers and firms.
• Resale Value and Infrastructure Compatibility Purchasing decisions may be influenced by worries regarding the resale value of electric scooters and motorbikes as well as their compatibility with current networks of services and infrastructure. The scarcity of replacement parts, repair facilities, and trained mechanics for electric cars may discourage buyers from making the purchase.
• Internal Combustion Engine Vehicles Traditional gasoline-powered vehicles, with their established networks for manufacture, marketing, and servicing, provide a competitive threat to the market for electric bikes and scooters. Notwithstanding the advantages electric vehicles have for the environment, market adoption may be hampered by consumer preferences, brand loyalty, and infrastructure support for gasoline-powered vehicles.

Global Electric Motorcycles And Scooters Market Segmentation Analysis

The Global Electric Motorcycles And Scooters Market is Segmented on the basis of Type, Battery Type, End-User, and Geography.

Electric Motorcycles And Scooters Market, By Type

• Electric Motorcycles Includes electric-powered motorcycles designed for urban commuting, leisure riding, and long-distance touring. These motorcycles may range from lightweight urban models to high-performance electric sports bikes.
• Electric Scooters Comprises electric-powered scooters suitable for short-distance commuting, city travel, and last-mile transportation. These scooters may include models for adults, teenagers, and children, with varying speed and range capabilities.
• Electric Mopeds Encompasses electric-powered mopeds that combine elements of motorcycles and scooters, offering moderate speed and range suitable for urban commuting and short-distance travel.

Electric Motorcycles And Scooters Market, By Battery Type

• Lithium-ion (Li-ion) Battery Most electric motorcycles and scooters utilize lithium-ion batteries due to their high energy density, lightweight design, and long cycle life.
• Lead-acid Battery Some electric motorcycles and scooters may feature lead-acid batteries, which are less expensive but heavier and have a shorter lifespan compared to lithium-ion batteries.

Electric Motorcycles And Scooters Market, By End-User

• Consumer/Personal Use Electric motorcycles and scooters are purchased by individuals for personal transportation needs, including commuting, leisure riding, and recreational activities.
• Commercial/Fleet Use Electric motorcycles and scooters are utilized by businesses, delivery services, rental companies, and ride-sharing platforms for commercial transportation and mobility solutions.

Electric Motorcycles And Scooters Market, By Geography

• North America Market segment covering the United States and Canada, characterized by a growing interest in electric mobility and supportive government policies promoting electric vehicles.
• Europe Market segment encompassing countries in the European Union (EU), including leading markets such as Germany, France, the United Kingdom, and the Netherlands, where electric motorcycles and scooters are popular for urban commuting and environmental reasons.
• Asia-Pacific The market segment includes countries such as China, India, Japan, and Southeast Asian nations, witnessing significant growth in electric motorcycle and scooter sales due to rapid urbanization, traffic congestion, and pollution concerns.
• Middle East and Africa The market segment covers countries in the Middle East (e.g., UAE, Saudi Arabia) and Africa (e.g., South Africa, Nigeria), where electric motorcycles and scooters are emerging as alternative transportation options amid efforts to reduce reliance on fossil fuels and curb emissions.

Key Players

The major players in the Electric Motorcycles And Scooters Market are

• AIMA Technology Group Co., Ltd
• Ampere Vehicles Pvt Ltd
• Energica Motor Company S.p.A
• GOVECS AG
• Harley Davidson
• Hero Electric
• Jiangsu Xinri E-vehicle Co., Ltd
• KTM Sportmotorcycle GmbH
• Niu Technologies
• SUNRA
• Tailing Electric Vehicle Co., Ltd
• Terra Motors Corporation
• Vmoto Limited
• Yadea Technology Group Co., Ltd

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