Asia-Pacific Electric Scooters And Motorcycles Market Size

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.