Electric Scooter and Motorcycle Market Research Report: By Product (Scooter, Motorcycle), Battery Type (SLA, Li-ion), Voltage (36 V, 48 V, 60 V), Technology (Plug-in, Battery) – Global Industry Analysis and Growth Forecast to 2025

Electric Scooter and Motorcycle Market Overview

The global electric scooter and motorcycle market was valued at $5,913.9 million in 2019 and is expected to grow at a CAGR of 14.4% during the forecast period (2020–2025). Government policies in support of environment-friendly vehicles, primarily in the emerging economies of Asia-Pacific (APAC), are playing a pivotal role in the growth of the market. Besides, the growing e-retailing of electric vehicles is a major factor contributing toward the market growth.

However, the COVID-19 pandemic has negatively impacted the electric scooter and motorcycle industry across the world. The automotive sector, as a whole, has been negatively impacted by the disease outbreak and the several preventive measures taken to curb it, such as lockdowns and reduction in working staff. Moreover, the prevailing effects of recession as a result of intermittent lockdowns are resulting in the reduced production and sale of automobiles across various countries.

Scooter Is the Most Dominant Product Category

When segmented on the basis of product, the electric scooter and motorcycle market is expected to be dominated by the scooter category during the forecast period. The low cost of electric scooters in comparison to electric motorcycles, coupled with their early introduction in the major regions across the world, is the key factor boosting the market growth in this category. However, the motorcycle category is expected to witness higher CAGR during the forecast period.

Sealed Lead–Acid (SLA) Battery Recorded Larger Market Share in 2019

SLA-powered two-wheelers recorded higher market revenue in 2019, on the basis of battery type. However, the lithium-ion (Li-ion) category is projected to grow faster as compared to the SLA category during the forecast period. This is primarily due to factors such as the growing preference for eco-friendly Li-ion batteries by original equipment manufacturers (OEMs) and various other advantages associated with these batteries.

48 V Battery-Powered Vehicles Will Have the Largest Market Share during the Forecast Period

48 V battery-powered electric scooters and motorcycles, based on voltage, are expected to hold the largest market share in the coming years. This can be majorly attributed to the consumer preference for 48 V battery-powered two-wheelers due to their higher benefit-to-cost ratio.

Battery is Expected to Register Higher CAGR in the Near Future

Based on technology, battery is expected to register higher CAGR in the electric scooter and motorcycle market during the forecast period in terms of value. The affordability of battery-operated scooters is the major factor driving the growth of the market in this category. However, the plug-in technology is expected to hold the larger market share by 2025 in terms of value, owing its low cost and easy operability.

APAC Is Expected to Hold the Largest Market Share

APAC is the largest market for electric scooters and motorcycles and is expected to continue leading the market, globally, in the coming years as well. The growth in the regional electric market can be attributed to rising urbanization, increasing per capita income, and favorable government policies for electric vehicles, which are resulting in the high adoption of electric scooters and motorcycles. Countries such as China, Japan, and India are the prominent markets for electric scooters and motorcycles in the APAC region. However, the market is expected to witness the fastest growth in Europe during the forecast period.

Expansion in E-Commerce Industry Supporting the Market

The growing dependency on online retailing on the account of an economical and convenient shopping experience that saves time and cost is a major trend witnessed in the electric scooter and motorcycle market that has impacted the market positively. Moreover, the online medium has proved quite effective in helping many companies carry out their operations and increase their reach to a larger pool of customers.

Moreover, the COVID-19 outbreak has negatively impacted the offline sales and lead generation in the electric scooter and motorcycle market. This, in turn, has increased the inclination of OEMs to launch online platforms to increase product sales and provide better customer experience.

Growing Concerns over Environmental Degradation Boosting Electric Vehicle Adoption

Increasing regulations for environment protection have encouraged the introduction of electric variants of vehicles to reduce pollution and subsequent environment degradation. In view of this, governments of several countries are encouraging the production and adoption of eco-friendly vehicles, which, in turn, is benefitting the growth of the electric scooter and motorcycle market. The government measures in this regard include incentives to boost electric vehicle adoption and support toward setting up manufacturing facilities for these vehicles. For example, in Hong Kong, the government is encouraging the use of eco-friendly vehicles by providing fiscal incentives in terms of registration tax concession on the purchase of electric motor vehicles.

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Market Players Are Focusing on Product Launches to Gain a Competitive Edge

In recent years, players in the global electric scooter and motorcycle market have been actively involved in the launch of new products to stay ahead in the competition. For instance,

• In May 2020, Niu Technologies launched a new electric scooter model MQi2 in two variants, Lite and Citi, in the Chinese market. The scooters comprise a 400 W electric motor and have a top speed of 25 km/h. While the MQi2 Lite is powered by a 16 Ah battery pack and offers a range of 50–60 km per charge, the MQi2 Citi is powered by a 20 Ah battery pack and has a range of 65–75 km on a single charge.
• In February 2020, Zero Motorcycles Inc. launched a new electric motorcycle called Fully Faired SR/S, which is equipped with 140 ft-lbs. of torque and 110 horsepower with a twist of the wrist. Additionally, it comprises a strong ZF 75-10 motor and a 14.4 kWh Li-ion battery, which offers a range of 323.4 km per charge and can charge from 0% to 95% capacity in one hour.

Key Players in Global Electric Scooter and Motorcycle Industry Include:

Electric Scooter and Motorcycle Market Size Breakdown by Segments

The electric scooter and motorcycle report offers comprehensive market segmentation analysis along with market estimation for the period 2014-2025.

Based on Product

• Scooter
• Motorcycle

Based on Battery Type

• Sealed lead acid (SLA)
• Lithium-ion (Li-ion)

Based on Voltage

• 36 V
• 48 V
• 60 V

Based on Technology

• Plug-in
• Battery

Geographical Analysis

• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Singapore
  • Philippines
  • Thailand
• Europe
  • Germany
  • Netherlands
  • Belgium
  • France
  • Italy
  • U.K.
  • Spain
  • Austria
  • Switzerland
• North America
  • U.S.
  • Canada
• Latin America (LATAM)
  • Brazil
  • Mexico
  • Chile
  • Colombia
• Middle-East and Africa (MEA)
  • Saudi Arabia
  • U.A.E.
  • Qatar
  • South Africa