Asia Pacific Electric Motorcycles & Scooters Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Asia-Pacific Electric Motorcycles & Scooters Market Report is Segmented by Vehicle Type (E-scooters and E-motorcycles), Battery Type (Lithium-ion and Sealed Lead-acid), and Country (India, China, Japan, South Korea, and the Rest of Asia-Pacific). The market size and forecasts are provided in terms of value (USD) for all the above segments.

Asia Pacific Electric Motorcycles & Scooters Market Size

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Asia-Pacific Electric Scooters And Motorcycles Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.76 Billion
Market Size (2029) USD 2.98 Billion
CAGR (2024 - 2029) 25.40 %
Market Concentration Medium

Major Players

Asia-Pacific Electric Scooters And Motorcycles Market

*Disclaimer: Major Players sorted in no particular order

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Asia Pacific Electric Motorcycles & Scooters Market Analysis

The Asia-Pacific Electric Scooters And Motorcycles Market size is estimated at USD 0.76 billion in 2024, and is expected to reach USD 2.98 billion by 2029, growing at a CAGR of 25.40% during the forecast period (2024-2029).

  • The demand for e-bikes increased across the region, there has been a challenge faced by motorcycle and scooter sales. The market took a hit during the first half of 2020 because of the outbreak of the COVID-19 pandemic, when several major economies were forced into lockdown, and the whole supply chain was disrupted. The sales were also down because the markets were closed. However, the second half showed a quick recovery, and the demand is recovering at a high rate.
  • Over the medium term, The rise in vehicular gas emissions and noise is leading to a high level of pollution in major countries across the region. The demand for clean energy and high-powered vehicles is witnessing a healthy growth rate, and this factor is driving the market for electric scooters and motorcycles around the region.
  • The rise in shared micro-mobility services, especially in developing countries such as China and India, is leading to the deployment of electric scooters in cities. The affordable price structure and app-based operations are attracting more customers every day, thus driving the demand for electric scooters.
  • The advancement and innovations in battery technology are propelling the growth of electric two-wheelers around the globe, especially in the Asia-Pacific region. The growth in the demand for rechargeable Lithium-ion batteries has led to the growth of several Lithium-ion battery manufacturers in countries such as China and Japan.

Asia Pacific Electric Motorcycles & Scooters Market Trends

E-Scooter to Witness Highest Demand

  • The electric vehicles industry is slowly revolutionizing the automobile sector, with more efficient and powerful electric vehicles being released yearly. Apart from being viewed as a cleaner and greener mode of transport for a short distance, e-bikes, e-scooters, and e-motorcycles are finding varied uses across the world in different sectors and applications.
  • While electric bikes and scooters are said to be more expensive to purchase than regular two-wheelers, the amount of money saved with respect to rising fuel costs is encouraging several players across logistics, food, delivery, tourism, etc. Accordingly, the companies are investing in procuring these electric two-wheelers and are entering strategic agreements with these vehicle manufacturing companies to gain a notable edge over other competitors in the market.
  • E-scooters witness higher sales than e-motorcycles due to lower upfront costs and the availability of more models in the market, which provide ample options for buyers. The allure of the e-scooter, both as a toy and as a potential vehicle for commuting, is driving its adoption. Thus, several startups are beginning to flood major metropolitan areas with hundreds of 'rent by minute' scooters.
  • Several pilot programs have been initiated to introduce e-scooters in a phased manner to reduce vehicle emissions in cities. The popularity of e-scooters is also encouraging conventional two-wheeler manufacturers to enter the market. India is emerging as a lucrative market for e-scooters. Hence, several two-wheeler manufacturers are gearing up to launch their models in the segment. For instance,
  • In March 2022, Hero MotoCorp, the largest two-wheeler manufacturer in India, revealed its future electric car brand, VIDA. The first image of the logo, which demonstrates how the new branding would appear, was also made public by the corporation.
  • Several manufacturers are expanding facilities in the region to improve battery technology in the region. For instance,
  • In November 2022, JIOS Aerogel announced plans to build a cutting-edge factory in Singapore to develop cutting-edge technology for battery makers. The factory will employ a ground-breaking, automated production technique designed with the assistance of the Singapore Economic Development Board (EDB).
  • With the above-mentioned development across the region, the market is witnessing major growth during the forecast period.
Asia-Pacific Electric Scooters And Motorcycles Market: ASEAN Electric Scooter and Motorcycle, In Personal Use, (In Units), 2017-2022

China is Expected to Dominate the Asia-Pacific Market

  • China, India, and Japan are the major economies in the regional market, which are expected to influence the overall market. These countries are witnessing the entry of an increasing number of startups and well-established and conventional manufacturers in the market.
  • China's electric two-wheeler market is well-developed, with local manufacturing, sales, and import and export operations. In October 2023, QJ Motor which is one of the leading electric scooter manufacturer in China announced its expansion in other provinces in China. Company offered new models that offers 800-watts (1.1 bhp) scooter. Further, China is taking up subsequent efforts for taking ahead the electric mission and revamp thei country's convestional vehicle fleet and electric scooter has been country's upfront priority.
  • As China continues to increase production of electric two-wheelers, the market is aided by increased demand and new product launches to complement it.
  • Government initiatives and incentives play a major role in the adoption of electric bikes in India. Delhi government is now planning to promote electric bikes by offering financial incentives under the Delhi EV policy. The state government's transport department has released a draft proposal for considering electric bikes as a new segment under the Delhi Electric Vehicle Policy 2020. For electric cycles, it plans to subsidize 25% of the cycle's cost (up to Rs 5,500) and give a fixed additional incentive of Rs 2,000 on the first 10,000 electric cycles. A purchase incentive of 33% of the price, up to Rs 15,000 per cargo e-bike, will be given to buyers of the first 10,000 cargo e-bikes.
  • The central and state governments have been encouraging EV adoption, and the finance minister even stated plans to develop a strategy for battery swapping in the FY22 budget. It's just a matter of time until battery-switching facilities become commonplace, thanks to the market and government's backing for electric vehicles. To decrease the price of electric bikes in India, major players have invested heavily in research and development and localization of the critical components. The plan is to localize the entire production, including controllers and the battery. This will help cut down the electric bicycles' cost and make them much more affordable to the masses. This aspect is crucial as 65% of the demand for electric bicycles is from tier 2 and tier 3 cities.
  • According to a new study from the Society of Manufacturers of Electric Vehicles (SMEV), sales of electric two-wheelers in India climbed by 132 percent in 2021. During the year, 233,971 electric two-wheelers were sold, up from 100,736 the previous year. SMEV has attributed this to the subsidies given to high-speed electric two-wheelers under the FAME 2 policy that have made them more affordable than low-speed two-wheels. FAME 2, or Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India, is an incentive-based scheme by the government to subsidies the making and buying of electric vehicles, including two-wheelers.
  • With the ongoing demand for low-cost electric 2-wheelers, major players are rolling out plans to launch electric versions of their top-selling models. For instance,
  • In February 2022, Honda Motorcycle and Scooter India confirmed that it is planning to launch an electric version of its best-selling scooter Activa. The new EV could be called the Activa E.
  • Hero announced an upcoming electric scooter in August 2021, and the brand later confirmed in November that the scooter would debut in March 2022. The company has officially launched its new Vida brand, under which electric vehicles will be sold, with the first model set to debut on July 1, 2022.
  • With the rapid increase in electric bike manufacturing companies, changing customer preferences, and government incentives are poised to witness a growth rate during the forecasted period.
Asia-Pacific Electric Scooters And Motorcycles Market: Sales volume of electric two-wheelers in China (Million Units), 2012 to 2021

Asia Pacific Electric Motorcycles & Scooters Industry Overview

The electric scooter and motorcycle market is dominated by several key players, such as Yadea, NIU, Hero Electric, Gogoro Inc, Dongguan Tailing Electric Vehicle Co., Ltd., and others. Players are investing in new technologies to gain a competitive edge over other players. For instance,

In February 2023, Hero Motors opened a new transmission plant. The Hero Motors Thai plant is a world-class facility strategically located at Asia Industrial Estate, a large industrial estate near Suvarnabhumi International Airport. Production will begin in the first quarter of 2023, with an annual capacity of 25,000 gearboxes and 1.2 Million individual gear components that can be expanded up to three times.

In October 2022, Indian electric scooter startup KLB Komaki Pvt. Ltd. launched its seventh high-speed scooter Venice Eco Electric, in India. The scooter has a Lithium Ferro Phosphate battery which is claimed to reduce fire risks and features a TFT instrument cluster with navigation capabilities.

Asia Pacific Electric Motorcycles & Scooters Market Leaders

  1. Dongguan Tailing Electric Vehicle Co., Ltd.

  2. Yadea Technology Group Co., Ltd.

  3. Hero Electric Vehicles Pvt. Ltd.

  4. Gogoro Inc.

  5. NIU Technologies

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Electric Scooters And Motorcycles Market Concentration
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Asia Pacific Electric Motorcycles & Scooters Market News

  • February 2023: At the 2023 Indonesia International Motor Show, Yadea, the world's leading electric two-wheeler brand, announced an exclusive strategic partnership with Indonesian listed company Indomobil. Indomobilwill be Yadea'ssole distributor in Indonesia, and the two companies will collaborate to provide high-quality electric vehicles and excellent customer service to Indonesian consumers.
  • May 2022: Yamaha Motor unveiled the "E01" electric scooter. Yamaha's "E-01" is an electric bike that combines motorcycle technology and EV technology. The company also stated that it would begin its demonstration in five Asian countries, including China.
  • February 2022: Hero MotoCorp announced a partnership with Gogoro to set up battery swapping stations across India as well as launch electric scooters in India powered by Gogoro batteries.

Asia Pacific Electric Motorcycles & Scooters Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

      1. 4.1.1 Increasing Demand For Lightweight, Technologically Advanced, And Energy Efficient Vehicles

    2. 4.2 Market Restraints

      1. 4.2.1 Product Recalling May Hamper the Market Growth

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size in Value - USD Billion)

    1. 5.1 By Vehicle Type

      1. 5.1.1 E-Scooter

      2. 5.1.2 E-Motorcycle

    2. 5.2 By Battery Type

      1. 5.2.1 Lithium-Ion

      2. 5.2.2 Lead Acid

    3. 5.3 By Country

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Japan

      4. 5.3.4 South Korea

      5. 5.3.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles*

      1. 6.2.1 Gogoro Inc.

      2. 6.2.2 NIU Technologies

      3. 6.2.3 Hero Electric Vehicles Pvt. Ltd.

      4. 6.2.4 Ather Energy Private Limited

      5. 6.2.5 Dongguan Tailing Electric Vehicle Co. Ltd

      6. 6.2.6 AIMA Technology Group Co. Ltd

      7. 6.2.7 Yadea Group Holdings Ltd

      8. 6.2.8 Piaggio & C. SpA

      9. 6.2.9 Yamaha Motor Corporation

      10. 6.2.10 VinFast LLC

      11. 6.2.11 Zero Motorcycles Inc.

      12. 6.2.12 Vmoto Limited

      13. 6.2.13 Ola Electric Mobility Pvt Ltd.

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Asia Pacific Electric Motorcycles & Scooters Industry Segmentation

Electric two-wheelers are defined as two-wheelers driven by one or two electric located on the board. The electric motors derive their power from a rechargeable battery which is usually of lead acid or lithium-ion type.

The Asia-Pacific electric scooters and motorcycles report covers the latest trends, the COVID-19 pandemic's impact, and technological developments in the market. The scope of the report covers segmentation based on vehicle type, battery type, and country. by vehicle type, the market is segmented into e-scooters and e-motorcycles. By battery type, the market is segmented into lithium-ion and sealed lead-acid, and by Country, the market is segmented into China, India, Japan, South Korea, and the Rest of Asia-Pacific.

For each segment, the market sizing and forecast have been done based on the value (USD).

By Vehicle Type
E-Scooter
E-Motorcycle
By Battery Type
Lithium-Ion
Lead Acid
By Country
China
India
Japan
South Korea
Rest of Asia-Pacific
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Asia Pacific Electric Motorcycles & Scooters Market Research FAQs

The Asia-Pacific Electric Scooters And Motorcycles Market size is expected to reach USD 0.76 billion in 2024 and grow at a CAGR of 25.40% to reach USD 2.98 billion by 2029.

In 2024, the Asia-Pacific Electric Scooters And Motorcycles Market size is expected to reach USD 0.76 billion.

Dongguan Tailing Electric Vehicle Co., Ltd., Yadea Technology Group Co., Ltd., Hero Electric Vehicles Pvt. Ltd., Gogoro Inc. and NIU Technologies are the major companies operating in the Asia-Pacific Electric Scooters And Motorcycles Market.

In 2023, the Asia-Pacific Electric Scooters And Motorcycles Market size was estimated at USD 0.57 billion. The report covers the Asia-Pacific Electric Scooters And Motorcycles Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Electric Scooters And Motorcycles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

APAC Electric Scooters & Motorcycles Industry Report

Statistics for the 2024 APAC Electric Scooters & Motorcycles market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. APAC Electric Scooters & Motorcycles analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Asia Pacific Electric Motorcycles & Scooters Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)