Electric Motorcycles & Scooters Market Size, By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion), By Voltage (24V, 36V, 48V), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 - 2032

Electric Motorcycles & Scooters Market Size, By Product (Motorcycles, Scooters), By Battery (SLA, Li-ion), By Voltage (24V, 36V, 48V), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 - 2032

Global electric motorcycles & scooters market is set to witness substantial growth between 2023 and 2032, primarily owing to the increasing number of EV manufacturers in North America and Europe. Besides, in the LATAM and the MEA, there is an increasing awareness about EV-related mobility, which is fuelled by the increasing vehicular pollution. This will drive the demand through the studied period.

Overall, the electric motorcycles & scooters market is bifurcated in terms of product, battery, voltage, and region.

Based on product, the electric motorcycles & scooters market is likely to be defined through motorcycles segment, which held a significant market share in 2022. Their demand will further increase owing to substantial technological developments, which has led to better batteries and powertrains. Furthermore, there is also an increasing demand for long-range vehicles that offer low-noise solutions which is being greatly sufficed by electric motorcycles, stimulating the market dynamics.

In the context of battery, the electric motorcycles & scooter market would be defined by the lithium-ion segment. This segment is likely to experience robust growth through the estimated timeframe, owing to the high amount of energy and power the batteries can generate. They minimize the battery size and weight as well when compared with other rechargeable variants, which is likely to drive their demand in the foreseeable future.

Based on voltage, the market is likely to be characterized through the 36 V segment, which is expected to grow at a steady pace due to the high demand for low-priced motorcycles and scooters. Since 36-volt batteries are cost-effective and do not require much maintenance, scooter manufacturers are increasingly integrating them with their products.

In the regional context, the electric motorcycles & scooter market is set to gain significant traction in Europe, where it is anticipated to grow at a steady rate of over 10% CAGR through 2032. The presence of ample grants, subsidies, and incentives for buying new electric vehicles in Europe will drive the market demand. Besides, State-backed authorities are also collaborating with local electric scooters and electric motorcycle manufacturers about installing more charging stations at various locations, which is bound to positively impact the market in the upcoming time.

While most of the companies operating in this market are currently trying to engage themselves in innovation, product development, and strategic collaborations to strengthen their product portfolio, some like Harley and Zero Motorcycles are trying to develop lightweight powertrain mechanisms to lessen the overall weight and enhance performance to gain an edge in the rapidly expanding electric two-wheeler market.