Electric Scooter and Motorcycle Market to Surge from USD 39.7 Billion in 2024 to USD 113.8 Billion by 2032

According to the latest market research study published by P&S Intelligence, The global electric scooter and motorcycle market is experiencing a rapid transformation, driven by a blend of technological innovation, increasing environmental concerns, and favorable government policies. Valued at USD 39.7 billion in 2024, this market is projected to expand significantly, reaching USD 113.8 billion by 2032, with a robust compound annual growth rate (CAGR) of 14.4% during the forecast period of 2025-2032.

This impressive growth trajectory is being fueled by a global shift toward sustainable transportation. As urban populations swell and climate change intensifies, there is mounting pressure to reduce greenhouse gas emissions and improve air quality. Electric two-wheelers-comprising both scooters and motorcycles-have emerged as a viable and efficient alternative to traditional internal combustion engine (ICE) vehicles. They offer zero tailpipe emissions, lower operational costs, and reduced noise pollution, making them ideal for densely populated urban areas.

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One of the strongest catalysts for this market growth is government policy and regulation. Across the globe, national and local authorities are introducing stringent emissions norms, providing subsidies, tax breaks, and incentives for electric vehicle (EV) purchases, and investing in EV charging infrastructure. In major markets like China, India, and several European nations, electric scooters and motorcycles are being actively promoted as part of broader efforts to decarbonize the transport sector. These policy measures are making electric two-wheelers more accessible and appealing to both individuals and commercial users.

The technological landscape is also evolving rapidly. Improvements in lithium-ion battery technology have significantly enhanced the range, safety, and performance of electric scooters and motorcycles. Battery prices are steadily falling, and innovations in fast charging, battery swapping, and energy density are making these vehicles more practical for everyday use. Moreover, advancements in IoT, connectivity, and telematics are allowing manufacturers to offer smart features such as GPS tracking, app-based controls, and ride analytics, which are especially appealing to tech-savvy urban riders.

Consumer preferences are shifting as well. In many urban centers, people are looking for compact, lightweight, and affordable vehicles that are easy to park and maneuver through congested traffic. Electric scooters and motorcycles perfectly fit this bill. They cater to a wide range of use cases-from personal commuting and recreational riding to last-mile delivery and ride-sharing services. The growing popularity of e-commerce and food delivery platforms is also increasing the demand for electric two-wheelers among logistics and delivery companies, who benefit from the low fuel and maintenance costs.

While both electric scooters and motorcycles are gaining ground, scooters currently dominate the market due to their affordability, ease of use, and strong adoption in emerging economies. However, electric motorcycles are rapidly catching up, particularly in markets like North America and Europe, where consumers are demanding higher speeds, extended range, and sportier designs. The segment is witnessing the entry of several new players offering high-performance models that challenge the status quo of ICE motorcycles.

The Asia-Pacific region remains the largest market for electric two-wheelers, led by China, which has a well-established ecosystem of manufacturers, suppliers, and infrastructure. The Chinese government's longstanding support for electric mobility has created a massive domestic market with millions of units sold annually. India is another key player, with strong growth prospects fueled by supportive government initiatives such as the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme, which provides subsidies to both consumers and manufacturers.

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Europe is also making significant strides, particularly in countries like Germany, France, and the Netherlands, where environmental awareness is high and infrastructure is rapidly developing. Urban areas in these regions are encouraging the use of electric two-wheelers to reduce pollution and traffic congestion, often by offering special privileges such as free parking, exemption from congestion charges, and dedicated lanes.

North America, while still a relatively smaller market, is showing strong potential. Increasing awareness, a growing number of environmentally conscious consumers, and aggressive product launches from both startups and established motorcycle brands are paving the way for growth. Companies are targeting both young urban commuters and motorcycle enthusiasts with models that blend performance, efficiency, and digital connectivity.

Despite its bright outlook, the market faces a few challenges. High initial purchase costs, limited charging infrastructure in some regions, and concerns over battery life and performance remain barriers to mass adoption. However, as technology continues to evolve and economies of scale kick in, these challenges are expected to diminish. Battery leasing models, pay-per-use schemes, and government-backed infrastructure programs are already addressing some of these pain points.

The competitive landscape of the electric scooter and motorcycle market is dynamic and rapidly evolving. Major players include Yadea, NIU Technologies, Hero Electric, Ather Energy, Gogoro, Energica Motor Company, Zero Motorcycles, and TVS Motor Company, among others. These companies are investing heavily in R&D, expanding their product portfolios, and forming strategic partnerships to strengthen their market positions.

Looking ahead, the integration of autonomous driving technologies, AI-based predictive maintenance, and vehicle-to-everything (V2X) communication could further transform the market. As urban mobility continues to evolve toward cleaner and smarter solutions, electric scooters and motorcycles will play an increasingly central role in shaping the future of transportation.

Browse More Report Published by P&S Intelligence:

Europe Electric Scooters and Motorcycles Market Trends, Drivers, Competitive Landscape, & Share Analysis - https://www.psmarketresearch.com/market-analysis/europe-electric-scooters-and-motorcycles-market

India Electric Scooter and Motorcycle Market Size and Share Analysis Report: https://www.psmarketresearch.com/market-analysis/india-electric-scooter-and-motorcycle-market

North America Electric Scooter and Motorcycle Market Size, Trends & Share Analysis - https://www.psmarketresearch.com/market-analysis/north-america-electric-scooters-and-motorcycles-market

China Electric Scooters and Motorcycles Market Report: https://www.psmarketresearch.com/market-analysis/china-electric-scooters-and-motorcycles-market

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