Electric Two-Wheeler Market to Reach US$ 154.3 Billion by 2035, Driven by Rising Demand for Sustainable Mobility and Rapid Technological Advancements | Latest Report TMR

The global electric two-wheeler market was valued at US$ 43.2 Billion in 2024 and is projected to reach US$ 154.3 Billion by 2035, expanding at a robust CAGR of 12.3% from 2025 to 2035. This strong growth trajectory is primarily driven by increasing consumer awareness toward sustainable transportation and continuous advancements in electric two-wheeler technology and product innovation.

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Market Overview

The electric two-wheeler market comprises battery-powered vehicles such as electric scooters, electric motorcycles, and electric mopeds, designed for both personal and shared mobility applications. These vehicles operate using electric motors powered by rechargeable batteries, offering a cleaner, quieter, and more energy-efficient alternative to petrol-based two-wheelers.

Electric two-wheelers are particularly suited for short- and medium-distance travel in urban and semi-urban areas. They deliver multiple advantages, including lower operating costs, minimal maintenance requirements, and zero tailpipe emissions. As governments worldwide promote sustainable transportation solutions, electric two-wheelers are increasingly preferred for daily commuting, last-mile connectivity, shared mobility services, and delivery and logistics operations.

Key Market Growth Drivers

Increasing Consumer Awareness Toward Sustainable Transportation

Growing awareness of environmental pollution and climate change caused by internal combustion engine vehicles has significantly boosted demand for electric two-wheelers. Consumers increasingly recognize the benefits of zero-emission transportation, reduced noise pollution, and higher energy efficiency offered by electric vehicles.

Urban centers facing rising air pollution levels are actively encouraging the adoption of electric mobility solutions. As sustainability becomes a priority for both individuals and governments, electric two-wheelers are gaining strong acceptance as practical, eco-friendly alternatives to petrol motorcycles and scooters.

In April 2025, Revolt Motors highlighted that electric two-wheelers contribute to sustainability through reduced emissions, lower noise pollution, and decreased carbon footprints across their operational lifecycle. Such industry communication reinforces consumer confidence and accelerates adoption, particularly in emerging economies.

Advancements in Electric Two-Wheeler Technology and Product Innovation

Technological innovation plays a central role in the rapid expansion of the electric two-wheeler market. Manufacturers are investing heavily in improving battery range, charging efficiency, motor performance, lightweight materials, and smart connectivity features.

Advancements in lithium-ion battery technology, fast-charging systems, removable battery solutions, and connected vehicle platforms have helped address key consumer concerns related to range anxiety and charging convenience. Smart features such as IoT-enabled diagnostics, ride analytics, navigation, and digital service integration further enhance user experience.

In November 2024, Honda Motor introduced new electric two-wheeler concept models and advanced electrification technologies, signaling its commitment to expanding its electric vehicle portfolio. Such innovations are narrowing the performance gap between electric and petrol-powered two-wheelers, supporting wider market penetration.

Analysis of Key Players

The electric two-wheeler market is highly competitive, with leading players focusing on product differentiation, cost optimization, and technological leadership. Major companies are expanding their electric portfolios, strengthening local manufacturing capabilities, and forming partnerships with charging infrastructure providers.

Key Players

• Yadea Technology Group Co., Ltd.
• Hero MotoCorp Ltd.
• Ola Electric Mobility Ltd.
• Ather Energy
• TVS Motor Company
• Niu International
• Honda Motor Co., Ltd.
• Gogoro
• YAMAHA Motor Pvt. Ltd.
• Bajaj Auto Ltd.
• Suzuki Motorcycle India
• Revolt Intellicorp Private Limited
• KYMCO
• HARLEY-DAVIDSON
• Zero Motorcycles, Inc.
• Other Prominent Players

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Market Challenges & Opportunities

Despite rapid growth, the electric two-wheeler market faces challenges such as high upfront costs, limited charging infrastructure in certain regions, and dependency on battery supply chains. Consumer concerns around battery life, resale value, and charging availability can also slow adoption in underdeveloped markets.

However, these challenges present significant opportunities. Government incentives, declining battery costs, expanding charging networks, and advancements in energy storage technologies are expected to mitigate barriers. Increasing fleet adoption for shared mobility and last-mile delivery further unlocks growth potential, especially in densely populated urban areas.

Recent Developments

• In December 2025, Ather Energy submitted a design patent in India for an electric scooter based on their new EL platform, which shows their plan to develop products outside their current offerings. The patent displays a design, which closely matches the EL01 concept that Ather revealed at their Community Day 2025 event through its modern design, modular structure, and functional LED lighting features.

• In November 2025, Yamaha Motor started with its Indian operations by launching two e-scooters, which include the premium AEROX E electric sport scooter and the EC-06 model through their partnership with River Mobility Private Limited. The AEROX E delivers Yamaha's sporty design features through its electric vehicle system. Yet the EC-06 provides a contemporary appearance that appeals to multiple customer segments. Yamaha supports its environmental goal of carbon neutrality by 2050 through these new product releases. The company achieves market dominance through these acquisition deals.n rather than M&A in antitrust risk areas.

Market Segmentations

Vehicle Type

• Electric Scooters
• Electric Motorcycles
• Electric Bikes
• Others

Battery Type

• Lead-Acid Battery
• Lithium-Ion Battery
• Nickel Metal Hydride Batteries
• Solid State Batteries
• Other

Technology

• Plug-in Electric
• Battery

Power Output

• Low Power (3 kW)

Voltage

• 36V
• 48V
• 60V
• 72V & Above

Application

• Personal Mobility
• Commercial Use
• Rental Service
• Sports
• Others

Regional Outlook

Asia Pacific - Leading Region

The Asia Pacific region dominated the global electric two-wheeler market with an 82.2% revenue share in 2024. Rapid urbanization, high two-wheeler penetration, rising fuel prices, and supportive government policies promoting electric mobility drive regional growth.

Countries such as China, India, and Southeast Asian nations are witnessing strong demand for electric two-wheelers, supported by expanding EV infrastructure, domestic manufacturing capabilities, and battery supply chain development. The region's cost-effective production ecosystem and large consumer base position Asia Pacific as both the largest and fastest-growing market globally.

Why Buy This Report?

• Comprehensive market size and forecast analysis through 2035
• In-depth assessment of growth drivers, challenges, and emerging opportunities
• Detailed competitive landscape and key player profiling
• Segment-wise and region-wise market insights
• Strategic intelligence for manufacturers, investors, policymakers, and stakeholders

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FAQs

1. What is the current size of the electric two-wheeler market?
The market was valued at US$ 43.2 Billion in 2024.

2. What is the expected growth rate of the market?
The market is projected to grow at a CAGR of 12.3% from 2025 to 2035.

3. Which region dominates the electric two-wheeler market?
Asia Pacific dominates with an 82.2% revenue share.

4. Which vehicle type leads the market?
Electric scooters lead the market, accounting for 76.3% of revenue in 2024.

5. Who are the key players in the market?
Key players include Yadea Technology Group, Ola Electric, TVS Motor, Bajaj Auto, and Ather Energy.

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