Electric two-wheelers, encompassing both electric motorcycles and scooters, represent a dynamic and rapidly evolving segment of the automotive industry. As a cleaner and more sustainable alternative to traditional gasoline-powered vehicles, these electric vehicles are gaining popularity worldwide, driven by advancements in battery technology, increasing environmental awareness, and supportive government policies. Their role in urban mobility is becoming increasingly significant, offering efficient, cost-effective, and eco-friendly transportation solutions for daily commuters and city dwellers.
Electric scooters have significantly dominated the electric two-wheeler market reflecting consumer preference for electric scooters as a preferred mode of urban transportation. According to Next Move Strategy Consulting, the global market for electric scooters is expected to accelerate at a 25.3% CAGR from 2022 to 2030. The market is anticipated to expand significantly, reaching an estimated value of USD 389 billion by 2030. This represents an increase of more than sixfold from its 2022 valuation of approximately USD 61.9 billion.
Source: Statzon/ Next Move Straategy Consulting
Electric scooters take up around 68% of the whole electric 2-wheeler market, based on data provided by Apollo Research Report. The other 32% is claimed by electric motorcycles. Within the whole e-mobility market, electric scooter is the second biggest segment after electric car, contributing around 18% of the total market share.
Asia Pacific has the largest market share in the global electric scooter market thanks to significant investments in charging infrastructure and government subsidies for battery-powered scooters. The electric scooter market in this region was valued at USD 29.8 billion in 2022 and is expected to reach USD 162 billion by 2030 at a CAGR of 23%.
China, India, and South East Asia are the three biggest markets for electric scooters. China is the main market in the region with the biggest sales of electric scooters as well as the biggest manufacturing hub. In China, the world's largest market for electric vehicles, electric two- and three-wheelers are highly adopted. In 2021, about half of these vehicles sold were battery-powered, outpacing electric passenger cars. By 2022, China had approximately 350 million electric scooters, more than the number of private cars. These scooters are widely used not only in major cities but also in smaller cities and interior regions. For instance, in Nanning, they make up nearly a third of all commutes, and in larger cities like Shenzhen and Shanghai, they account for over 20% of trips.
Meanwhile in India, the electric scooter market saw a significant increase in sales, reaching 652,643 units sold in 2022. This was a 347% jump compared to the previous year, making up about 4.5% of the total two-wheeler industry in India. With this growth, India became the second-largest market for electric scooters in the world, just behind China. The increase in sales was largely due to the support from the government subsidy program.
In other APAC countries like Indonesia, the Philippines, and Vietnam, sales of two-wheelers vastly outnumber cars. The shift towards electric two-wheelers is seen as a crucial step towards decarbonization and reducing urban air pollution.
Europe is the second biggest region in the global market, worth USD 14.9 billion in 2022. This region will experience the most robust growth at 30% CAGR during the forecast period. By 2030 Europe's market value will hit USD 125 billion, expanding its market share from 24% in 2022 to 32% by 2030. The adoption of electric vehicles remains at the forefront of many European countries’ agendas toward reducing carbon emissions. Just as the sales of electric cars are soaring in this region, there is also a boom in the sales of electric scooters. More than half a million electric scooters roamed the European streets last June, up from 400,000 in February this year, according to modeling done by Zag, an online medium dedicated to reporting micro-mobility. With strong upward momentum in the market, electric scooter numbers could hit 600,000 by now.
Europe is the second biggest region in the global market, worth USD 14.9 billion in 2022. This region will experience the most robust growth at 30% CAGR during the forecast period. By 2030 Europe's market value will hit USD 125 billion, expanding its market share from 23% in 2021 to 32% by 2030.
In 2022, the European e-scooter market witnessed a remarkable surge, with Micro-Mobility for Europe (MMfE) reporting over 350 million e-scooter trips, a significant increase of 45.7% from the previous year, and a total distance of 640 million kilometers, marking a 36.8% rise from 2021. Electric scooter safety concerns are also being addressed in Europe and significant improvements in safety have been observed. The rate of injuries requiring medical attention dropped by nearly 20%, and the risk of fatality decreased by 17.7% compared to 2021. This is a promising development that can further encourage electric scooter adoption rates.
Based on products, the global electric scooter market can be categorized into folding, standing/self-balancing, and retro scooters. Although standing scooters have the highest penetration in terms of volume, the retro scooter segment is dominating the market in terms of value mainly because of its higher price point. Contributing more than 60% of the total market value, the retro scooter segment was valued at USD 38.6 billion in 2021. The folding scooter and standing/self-balancing scooter segments each claimed 12% and 25% share in the market, respectively, during the year 2021.
On the subject of batteries, sealed lead acid batteries are still the most popular option to be used by both electric motorcycles and scooters due to their robustness and low-cost benefits. Close to 75% of electric two-wheelers are running on this battery compared to the rest 35% that run on lithium-ion batteries. In terms of voltage, the 48V segment dominates the electric two-wheeler market, with more than 60% of electric scooters and motorcycles combined utilizing this voltage.
Sources: Statzon, China Daily HK, The Economist, MotorCyclesData, sixthone, MMFE