PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1731142
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1731142
The global electric scooter and motorcycle market was valued at USD 39.7 billion in 2024 and is projected to reach USD 113.8 billion by 2032, growing at a CAGR of 14.4% during 2025-2032. This growth is driven by increasing environmental concerns, supportive government policies, and advancements in battery technology. As urban populations seek sustainable and cost-effective transportation solutions, electric two-wheelers are becoming an increasingly popular choice.
The market's expansion is further supported by the development of charging infrastructure and the decreasing cost of lithium-ion batteries, making electric scooters and motorcycles more accessible to a broader consumer base. Additionally, the integration of smart features and connectivity in these vehicles is enhancing user experience and driving adoption rates.
Key Insights
Electric scooters dominate the market, accounting for approximately 75% of the global share in 2024, due to their affordability and suitability for urban commuting.
Lithium-ion batteries are the preferred energy source, representing over 80% of the market share in 2024, owing to their higher energy density and longer lifespan compared to lead-acid batteries.
Vehicles equipped with battery systems above 48V captured more than 55% of the market in 2024, reflecting consumer demand for higher performance and extended range.
The Asia-Pacific region leads the market, holding a 45% share in 2024, driven by high adoption rates in countries like China and India, where government incentives and urbanization trends support electric vehicle usage.
The market is fragmented, with numerous players offering diverse models and technologies, fostering innovation and competitive pricing.
Government initiatives, such as subsidies and tax incentives, are playing a crucial role in promoting the adoption of electric two-wheelers, especially in emerging economies.
Advancements in battery technology, including increased energy density and faster charging capabilities, are addressing range anxiety and enhancing the appeal of electric scooters and motorcycles.
The integration of smart features, such as GPS navigation, mobile app connectivity, and anti-theft systems, is improving user experience and differentiating products in the market.
Urbanization and the need for efficient, eco-friendly transportation solutions are driving demand for electric two-wheelers, particularly among younger consumers and urban commuters.
The market's positive outlook is reinforced by ongoing investments in research and development, infrastructure expansion, and supportive regulatory frameworks aimed at reducing carbon emissions and promoting sustainable mobility.