Electric Scooter and Motorcycle Market Overview
The global Electric Scooter and Motorcycle Market is valued at USD 5.96 billion in 2023 and is expected to grow at a CAGR of 4.3%, reaching USD 8.00 billion by 2030. This growth is fueled by the increasing environmental concerns, technological advancements, and supportive government policies. Electric scooters and motorcycles offer a sustainable alternative to traditional vehicles, reducing air pollution and dependence on fossil fuels.
The market is rapidly expanding, with electric motorcycles catering to longer commutes and highway travel, while electric scooters provide short-distance solutions for urban commuting. Both vehicle types significantly contribute to reducing traffic congestion, air pollution, and energy consumption, thus making them an essential part of modern urban transportation.
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Growing Priority for Sustainable Urban Mobility Solutions to Accelerate Market Development
Electric bikes and scooters have attracted a lot of attention due to their potential to provide neat, hassle-free, and affordable solutions to traditional transportation problems, as cities struggle with traffic, pollution, and the need for more effective transit options. Electric bikes and scooters, which combine the practicality of conventional bicycles with electric propulsion technology, are a revolutionary force in urban mobility. With their many advantages for people, communities, and the environment, they are now essential parts of sustainable transportation plans. Because they emit no emissions when in use, these eco-friendly vehicles help to improve the air quality and lower greenhouse gas emissions, which in turn fuels the growth of the electric scooter and motorcycle market.
Mergers and Acquisitions: Latest Market Moves
Several key players are involved in strategic mergers and acquisitions to capitalize on the growing demand for electric scooters and motorcycles.
Asia-Pacific Developments: In Vietnam, the rise of electric mobility has been marked by significant investments from local startups and global brands. Hero Electric in India recently merged with Ampere Vehicles to bolster its electric two-wheeler portfolio in the region. Similarly, Yadea Group in China has expanded its influence in Southeast Asia with key acquisitions, increasing production capacity and network reach.
US and Europe: In the US, Zero Motorcycles has announced plans for a merger with Harley-Davidson to offer advanced electric motorcycles as part of the companyโs push for sustainability. Meanwhile, in Europe, Vespa has ramped up production by acquiring Energica Motor Company, with a focus on integrating smart features into their electric scooters.
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Key Developments in Electric Scooter and Motorcycle Market
The Electric Scooter and Motorcycle Market has witnessed several technological breakthroughs and key collaborations:
Battery Technology Advancements: Innovations in Lithium-ion batteries are making electric two-wheelers more affordable and efficient, increasing their adoption among consumers.
Smart Features and Connectivity: Leading companies such as TVS Motor Company and Segway-Ninebot are integrating advanced connectivity, live tracking, anti-theft systems, and emergency alerts in their electric models. These features improve safety and enhance the user experience.
Regional Insights: Asia-Pacific, US, and Europe Lead the Charge
Asia-Pacific: The region dominates the Electric Scooter and Motorcycle Market, with countries like China, India, and Vietnam seeing rapid adoption. In Thailand, e-mobility has grown exponentially, and Indonesia is investing heavily in infrastructure for electric vehicle adoption.
US and Europe: The US is making strides in integrating electric motorcycles into mainstream markets, with California leading the way. In Europe, countries like Germany and France are at the forefront of adopting electric scooters as part of their green city initiatives.
South Korea and Japan: These countries are investing in battery swapping technology and charging infrastructure, which is expected to drive significant growth in the electric two-wheeler market.
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Electric Scooter and Motorcycle Market Segmentation
by Vehicle Type
Electric Scooters
Electric Motorcycles
Electric Mopeds
Electric Bicycles (E-Bikes)
Others
The market is divided into four segments based on the kind of vehicle: electric scooters, electric motorcycles, electric mopeds, electric bicycles (also known as e-bikes), and others. In 2023, electric scooters and motorcycles led the market, and this trend is anticipated to continue throughout the forecast period. Due to a number of variables, including price, environmental awareness, practicality, and widespread urban adoption, electric scooters have become the most popular vehicle type on the market. Urban commuters are looking for more sustainable and effective transportation options as a result of the growing pollution and traffic in cities across the globe. Electric scooters offer commuters a practical solution for short-distance transport, allowing them to move quickly through congested streets and easily arrive at their destinations.
by Battery Type
Lithium-ion (Li-ion) batteries
Lead-acid batteries
Nickel-metal hydride (NiMH) batteries
Others
by Range
Less Than 75 Miles
75 Miles to 100 Miles
More Than 100 Miles
Electric Scooter and Motorcycle Market Key Playersย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย
Global
1. Niu Technologies (Beijing, China)
2. Gogoro (Taipei, Taiwan)
3. Segway-Ninebot (Beijing, China)
4. Xiaomi (Beijing, China)
5. Zero Motorcycles (Scotts Valley, California, USA)
North America
1. Harley-Davidson, Inc. (Milwaukee, Wisconsin, USA)
2. GenZe (Fremont, California, USA)
3. Vectrix Corporation (New Bedford, Massachusetts, USA)
Europe
1. Energica Motor Company (Modena, Italy)
2. Vespa (Pontedera, Italy)
Asia Pacific
1. Xiaomi (Beijing, China)
2. Hero Electric (New Delhi, India)
3. Evoke Motorcycles (Beijing, China)
4. Super Soco (Jiangsu, China)
5. Yadea Group Holdings Ltd. (Wuxi, China)
6. Revolt Motors (Gurugram, India)
7. Emflux Motors (Bengaluru, India)
8. Okinawa Autotech Pvt. Ltd (Gurugram, India)
9. Ampere Vehicles Pvt. Ltd. (Coimbatore, India)
10. Ather Energy (Bengaluru, India)
11. Mahindra Electric Mobility Ltd. (Bengaluru, India)
12. TVS Motor Company (Chennai, India)
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Key questions answered in the Electric Scooter and Motorcycle Market are:
- What is Electric Scooter and Motorcycle?
- What is the growth rate of the Electric Scooter and Motorcycle Market?
- What are the upcoming opportunities and trends for the Electric Scooter and Motorcycle Market?
- What are the different segments of the Electric Scooter and Motorcycle Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Electric Scooter and Motorcycle Market?
- What segments are covered in the Electric Scooter and Motorcycle Market?
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics โ Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation โ A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape โ Profiles of selected key players by region from a strategic perspective
- Competitive landscape โ Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTERโs analysis
- Value chain and supply chain analysis
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