The Electric Scooter and Motorcycle Market Size is poised for substantial growth, projected to reach a remarkable value of $12.4 billion by 2030. This surge can be attributed to the increasing demand for eco-friendly transportation solutions and the rising awareness of the environmental impact of conventional vehicles. With urbanization on the rise and traffic congestion becoming a critical issue in many cities, electric scooters and motorcycles offer an efficient and sustainable alternative. Governments worldwide are also incentivizing the adoption of electric mobility through subsidies, infrastructure development, and favorable policies, further propelling market expansion.
As technology advances, the performance and affordability of electric scooters and motorcycles continue to improve, making them more accessible to consumers. Innovations in battery technology have led to longer ranges and shorter charging times, addressing key concerns of potential buyers. Additionally, the growing trend of shared mobility services is driving the demand for electric two-wheelers, as they provide a convenient and cost-effective option for urban commuters. With these favorable market dynamics, the Electric Scooter and Motorcycle Market is set to experience significant growth, aligning with the global shift toward sustainable transportation solutions.
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“The commercial use of electric scooter is expected to show significant growth during the forecast period.”
Fleet owners delivering goods and services to their customers increasingly rely on electric scooters and motorcycles. Electric two-wheelers often come equipped with advanced telematics and fleet management systems. These technologies enable real-time tracking, route optimization, and efficient fleet management, improving delivery efficiency. Businesses can monitor vehicle performance, schedule maintenance, and analyze data to optimize operations. Using electric scooters/mopeds and motorcycles can significantly reduce delivery costs and improve profitability. Meal delivery companies across the globe use electric scooters. For instance, in December 2023, Uber Eats (US) partnered with Gogoro (Taiwan) for Green Delivery Program. The partnership is word USD 30 million. Uber Eats delivery partners will receive discounts on new Gogoro Smartscooters and battery swapping programs and be given incentives for deliveries on Gogoro Smartscooters. Through the program, Uber Eats expects EV deliveries in Taiwan to double from nearly 20% to 40% by the end of 2025. Also increasing fuel prices, the need to rationalize costs, favorable government policies, and rising awareness of emission-free vehicles would boost the adoption of electric scooters for commercial use in the forecasted period.
“Europe is expected to become second largest growing market for electric scooter during the forecast period.”
Europe is home to many electric two-wheeler manufacturing companies, such as Silence Urban Ecomobility (Spain), Energica Motor Company (Italy), GOVECS (Germany), and Piaggio (Italy). The automotive industry is one of the key contributors to Europe’s economy. The increasing concerns over carbon emissions by conventional ICE two-wheelers and efficiency in this mode of travel have led European two-wheeler manufacturers to develop electric scooters and motorcycles. Government initiatives have encouraged the key players in the market to develop advanced electric two-wheelers and the infrastructure for charging facilities. The rising demand for electric two-wheelers has allowed new players to increase their regional presence. In April 2024, British e-scooter manufacturer Swifty Scooters launched the UK’s first road-legal e-scooter – the GO GT500. Honda Motor Co., Ltd. (Japan) launched its first electric two-wheeler for Europe, the EM1 e, in May 2023. The vehicle uses Honda’s Power Pack swappable battery technology. Ultraviolette Automotive’s (India) F77 electric motorcycle is scheduled to be available in Europe in the second quarter of 2024.
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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