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Electric Motorcycle & Scooters (EMS) Market Trends

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

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Electric Motorcycle & Scooters Market Trends

The electric motorcycle and scooters industry is witnessing significant technological advancements, which are enhancing the performance, efficiency & user-friendliness of electric scooters, thereby making them a viable option for both urban commuters and leisure riders. Along with this, the advancements improve user experience and convenience by providing better connectivity & smart features and faster-charging capabilities. Overall sustainability also improves as advancement in manufacturing processes results in cleaner production and improved battery recycling processes.

For instance, in January 2024, WardWizard Innovations and Mobility, the parent company of Joy e-bike, unveiled a hydrogen-powered electric two-wheeler concept at the ongoing Bharat Mobility Global Expo 2024. WardWizard showcased its hydrogen fuel-cell & electrolyzer technology and how it will help run the electric scooter. These kinds of innovations will transform the market as EVs are transcending from being optional to becoming an essential need for most consumers.

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.