Electric Scooter and Motorcycle Market Gains Momentum as Consumers Shift Toward Green Commuting

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Electric Scooter and Motorcycle Market Size, Share & Trends Analysis Report By Vehicle (E-Scooters/Mopeds & E-Motorcycles), Battery (Lead Acid & Li-Ion), Distance (below 75 miles, 75-1000 miles, and above 100 miles), Voltage (36V, 48V, 60V, 72V, Above 72V), Technology Usage(Private, Commercial), Vehicle Class (economy and luxury)- Market Outlook And Industry Analysis 2034"

The Global Electric Scooter and Motorcycle Market is estimated to reach over USD 33.5 Billion by the year 2034, exhibiting a CAGR of 21.2% during the forecast period.

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The demand for electric scooters and motorcycles is experiencing substantial growth, driven by a combination of factors including increased government support for electric mobility, escalating fuel prices, and a rising consumer preference for environmentally sustainable transportation options. However, the market's expansion is somewhat constrained by the high upfront costs associated with electric two-wheelers and regulatory restrictions on their usage in certain major Chinese cities.

Nonetheless, advancements in battery technology and improvements in charging infrastructure are creating new opportunities for key industry participants. Governments across various regions are actively encouraging the adoption of low-emission vehicles by implementing stringent emissions standards, offering financial incentives such as subsidies and tax reductions, and launching supportive regulatory frameworks.

For example, in June 2019, the Government of India reduced the Goods and Services Tax (GST) on electric vehicles, including electric scooters and motorcycles, from 12% to 5%, in an effort to accelerate their market adoption. Additionally, increased investments in the research and development of high-performance electric two-wheelers, including innovative electric bicycles and scooters with enhanced components and technologies, are expected to further propel market growth in the coming years.

List of Prominent Players in the Electric Scooter and Motorcycle Market:
• AIMA Technology Group Co. Ltd
• Alta Motors
• Ampere Vehicles Pvt Ltd (Greaves Cotton)
• Bell Custom Cycles
• Blacksmith Electric
• Electric Motion
• Energica Motor Company S.p.A
• Essence Motorcycles
• Govecs Group
• Harley Davidson
• Hero Eco Vehicles Pvt Ltd
• Honda Motors
• Husqvarna Motorcycles GmbH
• Jiangsu Xinri E Vehicle Co. Ltd.,
• Johammer e-mobility GmbH
• KTM AG
• Lightning Motorcycles
• NIU International,
• Okinawa Autotech Private Ltd.
• Yadea Technology Group Ltd.,

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Market Dynamics
Drivers:
Amid growing concerns over the environmental impact of fossil fuel-powered vehicles, governments worldwide are implementing measures to reduce carbon emissions by promoting electric mobility solutions. This includes the encouragement of electric bikes, scooters, automobiles, and bicycles as sustainable transportation alternatives. Many countries are actively developing cycling-friendly infrastructure to support the adoption of bicycles as a primary mode of transport. In parallel, electric two-wheelers-including e-bikes, scooters, and motorcycles-are gaining recognition as efficient and reliable forms of light motor vehicles (LMVs) that significantly contribute to emission reduction efforts. To incentivize adoption, governments are also offering various financial incentives such as tax reductions and subsidies aimed at accelerating the transition to electric mobility.

Challenges:
Despite positive momentum, the high cost associated with electric scooters and motorcycles remains a significant barrier to widespread market adoption. The elevated prices, largely due to the expensive battery systems and advanced technological components, often make electric two-wheelers less attractive when compared to conventional alternatives that offer comparable or superior performance at lower costs. In particular, the reliance on costly lithium-ion batteries and complex motor mechanisms contributes to the overall expense. As a result, consumer adoption, particularly outside of China, has been somewhat constrained. Nevertheless, the global electric two-wheeler market continues to grow rapidly, which may help to alleviate these cost-related limitations over time through economies of scale and technological innovation.

Regional Trends:
The Asia-Pacific region is expected to maintain a leading position in the global electric scooter and motorcycle market throughout the forecast period. Key economies such as China, India, South Korea, and Japan are anticipated to drive regional growth, supported by a combination of government policy initiatives and increasing market activity from both startups and established manufacturers. For example, in 2021, the Taiwanese government introduced subsidies of up to USD 900-1,000 for consumers purchasing electric scooters and motorcycles. This initiative led to the sale of approximately 94,000 electric scooters, representing 11.9% of the total 809,000 scooters sold in Taiwan that year. Notably, Gogoro Inc. alone sold over 79,000 electric scooters in the country during this period. Taiwan has set an ambitious target for 70% of all new scooter sales to be electric by 2035, further underlining the region's commitment to sustainable transportation development.

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Recent Developments:
• In October 2022, KLB Komaki Pvt. Ltd., an electric scooter startup in India, debuted Venice Eco Electric, its eighth high-speed scooter, in the country. The scooter includes a TFT instrument cluster with navigational functions and a Lithium Ferro Phosphate battery that is said to lower fire risks.

Segmentation of Electric Scooter and Motorcycle Market-
By Vehicle Type-
• E-scooter
• E-Motorcycle
By Battery Type-
• Sealed lead acid,
• Lithium-ion
By Distance Covered-
• Below 75 miles,
• 75-1000 miles
• Above 100 miles
By Technology-
• Plug-in
• Battery
By Voltage-
• 36V,
• 48V,
• 60V,
• 72V,
• Above 72V
By Vehicle Class-
• Economy
• Luxury
By Usage-
• Commercial
• Private
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.