The global electric scooter and motorcycle market is projected to grow from USD 4.3 billion in 2024 to USD 12.4 billion by 2030, registering a CAGR of 18.9%.
The electric scooter and motorcycle market is experiencing rapid growth due to several key factors. Rising environmental concerns push consumers towards greener transportation options, while government incentives and subsidies make electric scooters more affordable and appealing. Advancements in battery technology extend the range and reduce charging times, enhancing overall convenience. Additionally, implementing battery-swapping technology offers quick and easy ways to recharge, addressing one of the major barriers to adoption. Finally, rapid urbanization is creating a demand for efficient and compact modes of transport, perfectly suited to electric scooters.
“Rising demand for high-performance and low-maintenance models to drive e-motorcycle market.”
Electric motorcycles represent a revolutionary shift in the world of motorcycling, offering riders a thrilling and sustainable alternative to traditional gasoline-powered bikes. Electric motors power them and rely on rechargeable batteries for energy, eliminating the need for gasoline and reducing harmful emissions. With advancements in battery technology and electric motor efficiency, electric motorcycles deliver improved performance, including instant torque delivery, smooth acceleration, and quiet operation. Additionally, electric motorcycles boast lower operating costs and reduced maintenance requirements than their gasoline counterparts, making them an attractive option for riders seeking a more economical and environmentally friendly mode of transportation. Motorcycles serve various purposes, such as cruising, racing sports, off-roading, and commuting. Initially, few companies were manufacturing electric motorcycles due to their design complexities. However, several established companies, such as Ola Electric (India), Niu International (China), Vmoto (Australia), Harley Davidson (US), and KTM (Austria), among others, have started manufacturing electric motorcycles. Electric motorcycles have transformed with improved range and speed over the years.
Many companies are exploring this space and investing to tap the market. In November 2023, The Yadea Technology Group Co., Ltd. unveiled the Yadea Kemper electric motorcycle at the EICMA 2023 Milan Motorcycle Show. The motorcycle has a top speed of 160 km/h (99.4 mph) and a centrally-mounted motor rated for 23 kW of continuous power and 40 kW of peak power. Ola is expected to launch four electric motorcycles in 2024–2025, including the Ola Roadster, Ola Cruiser, and Ola Adventure. In January 2023, Hero Electric (India) entered into a long-term partnership with Maxwell Energy Systems (India) to supply advanced battery management systems. Under the partnership, Maxwell supply Hero Electric with more than 10 lakh units of its battery management systems (BMS) over the next three years.
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“High torque advantage of mid-drive motors to drive market”
Electric two-wheelers have advanced technologically with mid-drive motors centrally located within the frame to provide the best possible weight distribution and handling. These motors deliver efficient power directly to the drivetrain, enhancing torque and performance, particularly in challenging terrains like hills. Their versatility extends to compatibility with existing electric scooters or motorcycles, offering riders a seamless transition to electrified mobility. With a focus on maximizing range and energy efficiency, mid-drive motors provide a dynamic and responsive riding experience, making them a preferred choice for those seeking a balance of power and practicality in their electric two-wheelers.
Companies such as Ather Energy (India) and River (India) have adopted a mid-mounted motor for their scooters. Performance-oriented electric scooters such as Ola S1 Pro and TVS’ X also have mid-mounted Permanent Magnet Synchronous Motor (PMSM) motors. In April 2024, Ather Energy launched the Ather Rizta family electric scooter with a mid-drive motor layout, the same as the Ather 450 series, but with lower peak output. Ather Rizta offers a range of 123-160 km per charge with a mid-drive 4.3 kW PMSM motor.
“Versatility and range anxiety reduction to drive demand for 75–100 miles range electric two-wheeler”
Manufacturers have recognized the demand for higher-range electric scooters and motorcycles after a single full battery charge. Hence, they are launching electric motorcycles and scooters ranging from 75 to 100 miles. These scooters offer a compelling balance between portability and capability, making them ideal for a wider range of riders. They cater to individuals requiring more than short-distance errands, providing the flexibility to handle daily commutes, recreational riding, and even spontaneous trips. This segment strikes a crucial balance, offering enough range to alleviate range anxiety while maintaining a practical size and potentially lower cost than long-range counterparts. This segment is dominated by performance electric motorcycles, and manufacturers are expected to focus on developing two-wheelers with a range of above 75 miles. Performance electric motorcycles are popular among motorcycle enthusiasts who prefer high power and long driving range. Electric scooter manufacturers also offer longer ranges in their electric scooter models. For instance, In December 2023, Ola Electric commenced the deliveries of its new S1 X+ electric scooter in the Indian market. The S1 X+ is equipped with a 3 kWh battery, offering a range of 93 miles (151 km).
“Emerging demand for high-performance electric scooters to drive segment”
60 V offers a significant boost in power output in electric scooters. This translates to better acceleration, higher top speeds, and the ability to handle steeper inclines, which is ideal for riders who want more performance from their electric scooters or motorcycles. While offering more power, 60 V batteries can also be paired with larger-capacity cells, extending the potential travel range of an electric scooter or motorcycle. This caters to riders who need to cover longer distances or want the peace of mind of a larger range. Manufacturers of electric motorcycles and scooters/mopeds prefer batteries with a 60 V or higher capacity. For instance, Yadea Technology Group Co., Ltd., one of the biggest Chinese premium electric scooter manufacturers, offers electric scooters named YADEA M6L, YADEA G5, YADEA C1S, and others with a 60 V battery capacity. Niu International is another company in China that offers electric scooters with a 60 V battery capacity. Rainbow Electric Scooter by Jiangsu Xinri is also one of the e-scooter models equipped with a 60 V battery.
“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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