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Electric Motorcycle & Scooters (EMS) Market Analysis

  • Report ID: GMI218
  • Published Date: Feb 2024
  • Report Format: PDF

Electric Motorcycle & Scooters Market Analysis

Electric Motorcycle & Scooters Market Size, By Product, 2022 – 2032, (USD Billion)

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Based on product, the scooters segment accounted for 67% of the market share in 2023. Electric scooters are becoming more popular as a practical and eco-friendly means of transportation owing to advancements in battery technology, charging infrastructure, and government initiatives that promote electric mobility. There are several factors contributing to the overall popularity of electric scooters. These factors include their affordability, compact design & lightweight structure, and growing urbanization as increased population density in cities is fueling the demand for efficient & easy urban transportation, thereby favoring the scooters segment.
 

Electric Motorcycle & Scooters Market Share, By Battery, 2023

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Based on battery, the Lithium-ion (Li-ion) battery segment held over 87% of the electric motorcycle & scooters market share in 2023. Li-ion batteries store substantially more energy per unit weight than alternatives such as lead-acid batteries, resulting in greater range and more compact vehicle designs. As EV adoption grows internationally, the need for Li-ion batteries will increase owing to their efficiency, quicker charging capabilities, and investments in electric mobility infrastructure, resulting in significant market growth. Compared to other battery types, Li-ion batteries also have a lower environmental effect throughout their lifespan, which is consistent with the increased emphasis on sustainability.
 

China Electric Motorcycle & Scooters Market Size, 2022 -2032, (USD Billion)

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Asia Pacific electric motorcycle & scooters market recorded around 95% of the revenue share in 2023. With supportive government policies, technological advancements, rising environmental concerns, and growing consumer awareness, this region will continue to be a major driver of the global electric mobility revolution. Demand in the Asia Pacific region is being driven by a strong manufacturing ecosystem, technological breakthroughs, and an expanding middle class with high disposable income.
 

For instance, in November 2023, China’s electric vehicle sales hit the fourth consecutive record. The number of new registrations exceeded 870,000. The overall EV industry in China is at an all-time high, which will eventually propel the market growth opportunity for electric motorcycles and scooters.
 

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of electric motorcycle and scooters reached USD 35 billion in 2023 and is set to witness over 5% CAGR from 2024 to 2032, owing to the increased focus on sustainability and the rising government investments in the construction of charging infrastructure worldwide.

The scooters segment recorded around 67% of the market share in 2023, due to advancements in battery technology, charging infrastructure, and government initiatives that promote electric mobility.

Asia Pacific held over 95% of the market share in 2023, attributed to supportive government policies, technological advancements, and the growing consumer awareness in the region.

Energica Motor Company S.p.A, GOVECS AG, Harley Davidson, Hero Electric, Jiangsu Xinri E-vehicle Co., Ltd., KTM Sport motorcycle GmbH, Niu Technologies, SUNRA, and Tailing Electric Vehicle Co., Ltd. are some of the major electric motorcycle and scooters companies worldwide.

Electric Motorcycle & Scooters Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 462
  • Countries covered: 24
  • Pages: 240
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