The global electric two-wheeler market is set to witness substantial growth, reaching a market value of USD 84.54 million by 2033 from USD 22 million in 2024, expanding at a CAGR of 16.47% during the forecast period of 2025 to 2033. The industry’s expansion is driven by increasing adoption of electric motorcycles and e-scooters for short commutes, rising environmental concerns, and significant investments in the micro-mobility sector by ride-hailing companies.
Growing awareness regarding greenhouse gas (GHG) emissions and carbon footprints has led to a surge in the demand for fuel-efficient electric two-wheelers. Stringent emission regulations imposed by government agencies, such as the U.S. Environmental Protection Agency (EPA) and BS-VI norms in India and China, are further driving market growth.
Environmental Awareness Boosts Market Expansion
The increasing global focus on sustainability is a primary driver for the electric two-wheeler market. As awareness of pollution control measures grows, consumers are opting for eco-friendly transportation alternatives. A Forbes survey revealed that in the Netherlands, the rising environmental consciousness has resulted in electric bicycle sales surpassing those of non-electric bicycles. The continuous threat posed by carbon emissions from fossil fuel consumption is expected to further accelerate the shift towards electric mobility.
Opportunities in Charging Infrastructure Development
Electric two-wheelers are increasingly utilized in last-mile delivery and logistics, driven by the expansion of e-commerce and home delivery services. Companies are exploring innovative business models such as "Battery as a Service" and "Car as a Service" to enhance revenue streams. However, the market still faces challenges due to inadequate charging infrastructure, particularly in developing countries.
Despite these hurdles, key players such as ChargePoint (U.S.) and iONEX Commercial (Taiwan) are introducing advanced charging solutions, including mobile power management software and battery-swapping options, to support market expansion.
Market Segmentation Insights
By Vehicle Type:
Electric Scooters: Accounted for the highest revenue share in 2024, driven by affordability and availability.
Electric Motorcycles: Expected to register the highest CAGR during 2025-2033 due to increasing model variety and technological advancements.
By Battery Voltage:
48V Segment: Dominated the market in 2024 due to cost-effectiveness, performance efficiency, and rising consumer demand for high-speed vehicles.
Above 48V Segment: Projected to experience the highest CAGR from 2025-2033, attributed to enhanced durability and longer travel range per charge.
Regional Market Trends
The Asia-Pacific region is projected to hold the largest market share due to government subsidies, technological advancements, and new product launches. The regional market was valued at USD 7.9 billion in 2024 and is expected to register a CAGR of 17.64% during the forecast period. China continues to dominate the sector as the world's largest producer of electric two-wheelers, supported by favorable government policies and increased international demand.
Strategic Partnerships and Key Players
Leading market participants are investing in research and development to diversify their product offerings. Key players in the industry include:
Zero Motorcycles, Inc.
F-wheel DYU
Jiangsu Xinari E-vehicle Co., Ltd.
YO Bykes
Ola Electric Mobility Pvt Ltd.
Hero Electric Vehicles Pvt. Ltd.
Yadea Technology Group Co., Ltd.
Greaves Electric Mobility Pvt. Ltd.
Vmoto Ltd.
Ideanomics, Inc.
Sanyang Motor Co., Ltd.
Zhejiang Luyuan Electric Vehicle Co., Ltd.
Niu Technologies
Companies are focusing on mergers, acquisitions, and strategic collaborations to strengthen their market position. Efforts include product innovations, increased investments, and expanding partnerships to accelerate growth in the global electric two-wheeler market.
