Electric Motorcycles & Scooters Market Size, By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion), By Voltage (24V, 36V, 48V), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032

Industry Drivers

Electric Motorcycles & Scooters Market size valued at USD 30 billion in 2022 and is predicted to expand at 5% CAGR from 2023 to 2032.
 

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The introduction of strict emission regulations to reduce carbon emissions will offer a considerable boost to the demand for electric scooters and motorcycles. Growing concerns regarding the negative impacts of carbon emissions from the transportation sector have led to the imposition of stern vehicle emission norms across North America. For instance, under the Clean Air Act (CAA), the Environment Protection Agency (EPA) is required to establish motor vehicle emissions standards for pollutants that can impact public health and welfare. The enormous potential of e-mobility solutions to support the long-term reduction of air pollution and greenhouse gases should favor the demand of e-scooters and motorcycles.
 

High initial investments will be one of the key factors that could impact the sales of these EVs. Electric two-wheelers use high-capacity batteries that are expensive and raise the overall price of the vehicle. Furthermore, to attain the required performance, these two-wheelers incorporate cutting-edge parts & components. With the rising use of high-quality materials to improve overall aesthetics and reduce the weight of these vehicles, the initial cost of ownership will increase which may hamper the Electric motorcycles & scooters market growth.
 

Lower ownership costs of electric scooters to foster the market revenue

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The electric scooters segment is expected to record a 5% CAGR through 2032, owing to lower ownership costs compared to electric motorcycles. E-scooters have several advantages such as small size, lighter weight, and minimal maintenance needs. The features have encouraged consumers to prefer electric scooters over e-motorcycles. Expanding need for clean mobility solutions in urban areas will boost the purchase of e-scooters.
 

Availability of a wide range of SLA batteries to stimulate the industry expansion  

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Electric motorcycles & scooters market share from the SLA battery segment will witness a 7% CAGR during the forecast timeline. One of the key aspects influencing the industrial demand for SLA batteries is their lower cost. The availability of numerous models and voltage variants has driven the commercial acceptance of these batteries. When compared to other lithium batteries, SLA batteries are cost-effective and possess enhanced battery life. Apart from this, better reliability and tolerability to overcharging are some other factors that will support product uptake.
 

Need for higher power output to fuel the deployment of 48V battery packs in electric two-wheelers

In 2022, the 48V battery segment accounted for 40% share of the electric motorcycles & scooters market. These batteries enable higher power output, are compact in size, and can reduce the overall battery space requirement in electric two-wheelers. Enhanced performance and long charging cycles are some other key features of 48V battery packs. Manufacturers of electric two-wheelers are utilizing these batteries to minimize power lag and offer higher acceleration. Apart from this, the integration of advanced technologies, such as regenerative braking, into 48-V batteries should increase product use in electric motorcycles & scooters.
 

Awareness regarding carbon emissions to fuel electric two-wheeler demand

Asia Pacific region held a 90% share of the global electric motorcycles & scooters market in 2022, attributed to the rising consumer awareness regarding the negative impacts of carbon emissions. Shifting preferences for zero-emission mobility solutions should drive the introduced new vehicle variants by automobile companies and startups in the region. Government bodies across countries like China and India are promoting the adoption of these vehicles by means of offering financial incentives and subsidies on e-scooter sales.
 

Business expansion initiatives to complement the market development

Some of the leading companies involved in the electric motorcycle and scooters market include 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, Lightning Motorcycles, Mahindra GenZe, Niu Technologies, SUNRA, Tailing Electric Vehicle Co. Ltd., Terra Motors Corporation, Vomoto Limited, Yadea Technology Group Co. Ltd., Z Electric Vehicle and Zero Electric Motorcycles.
 

Companies are actively taking part in new product development activities and are expanding their business footprint. For instance, in February 2021, Vmoto Limited expanded its e-scooter portfolio with the addition of TS, TC, and CUmini models.
 

Impact of the COVID-19 pandemic on the electric motorcycle & scooter industry

The COVID-19 pandemic had a negative influence on the electric motorcycles & scooters market given to disruptions in production and supply chain due to the imposition of strict lockdown restrictions. Shortage of spare parts and raw materials led to a delay in production activities and sales of electric two-wheelers. However, growing awareness regarding the benefits of switching to cleaner mobility solutions and supportive government subsidies will propel the sales of electric scooters and motorcycles in the upcoming years.
 

This electric motorcycles and scooters market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2018 to 2032 for the following segments:

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Market, By Product:

• Motorcycles
• Scooters

Market, By Battery:

• SLA
• Li-ion

Market, By Voltage

• 24V
• 36V
• 48V
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Netherlands
  • Belgium
  • Czech Republic
  • Austria
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
  • Malaysia
  • Indonesia
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa