Electric Scooter and Motorcycle Market worth $12.4 billion by 2030

The global electric scooter and motorcycle market size was valued at USD 4.3 billion in 2024 and is expected to reach USD 12.4 billion by 2030, at a CAGR of 18.9% from 2024 to 2030. The global electric scooter and motorcycle market is poised for significant growth, driven by expanding charging infrastructure, increased adoption in key countries, and a heightened focus on environmental sustainability. Governments worldwide are actively promoting electric vehicles (EVs) to reduce pollution from traditional gasoline-powered options, leading to substantial investments in charging networks and making electric scooters and motorcycles more viable for consumers. Rising fuel prices and a growing demand for energy-efficient commuting options further propel market expansion.

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Improved battery technology and charging infrastructure are needed to drive the segment.

Compared to lower voltage options (like 36 V or 48 V), 72 V batteries generally offer more power. This translates to better acceleration with higher speeds. 72 V batteries are mostly preferred where high performance is required. Compared to other batteries, these batteries are expensive and are mostly used in high-performance electric scooters and motorcycles. Due to recent advancements in lithium-ion battery technology, manufacturers may now be able to resolve the high energy-to-weight ratio of high voltage batteries, like the 72 V. This helps further to improve the energy efficiency and range of electric two-wheelers. Hero Electric offers its electric scooter Photon, with a 72 V battery, for customers who do not want to compromise performance.

New range of products with reduced prices to drive market for electric scooter during the forecasted period.

With the development of battery technologies, electric scooters/mopeds and motorcycles have become lighter and more efficient over the last couple of years. The industry is witnessing a shift from earlier ICE two-wheelers to electric models. The growing environmental consciousness among consumers. With heightened awareness about climate change and pollution, many people are seeking greener alternatives to traditional internal combustion engine vehicles. Governments around the world are also encouraging this shift by implementing stringent emission regulations and offering incentives such as tax rebates, subsidies, and exemptions from certain road tolls. These policies make electric two-wheelers more financially attractive to consumers.Improvements in battery technology, particularly in terms of energy density and charging speed, have significantly enhanced the performance and convenience of these vehicles. Modern electric two-wheelers now offer longer ranges and faster charging times, addressing one of the primary concerns potential buyers have had in the past.

Key Players

The electric scooter and motorcycle market is dominated by established players such as Yadea Technology Group Co., Ltd. (China), Ola Electric (India), TVS Motor Company (India), Ather Energy (India), and Gogoro (Taiwan).

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