Electric Two-Wheeler Market to Reach USD 114.3 Billion by 2033, Driven by Sustainable Urban Mobility Trends

Market Overview:

According to IMARC Group's latest research publication, "Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global electric two-wheeler market size was valued at USD 44.5 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 114.3 Billion by 2033, exhibiting a CAGR of 11.0% during 2025-2033.

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

How AI is Reshaping the Future of Electric Two-Wheeler Market

• AI optimizes electric two-wheeler battery performance, extending range by 20% through real-time energy management, as seen in Ola Electric’s latest scooters.
• Smart navigation systems powered by AI reduce urban congestion, with Gogoro’s scooters using predictive analytics for efficient last-mile delivery routes.
• Government incentives like India’s PM E-DRIVE scheme, with $1.3 billion, boost AI-integrated two-wheeler adoption for eco-friendly commuting.
• AI-driven fleet management cuts operational costs by 15% for companies like Zypp Electric, enhancing shared mobility solutions globally.
• Advanced AI safety features, like Ather Energy’s collision detection, improve rider safety, reducing accidents by up to 30% in trials.

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Key Trends in the Electric Two-Wheeler Market

• Surge in Urban Mobility Needs: Electric two-wheelers are gaining traction in crowded cities for their compact size and ease of use. In India, 1.2 million units were sold, driven by traffic congestion and eco-friendly commuting preferences.
• Government Incentives Boost Adoption: Subsidies like India’s PM E-DRIVE scheme support 2.48 million electric two-wheelers with Rs 10,900 crore, making them affordable and appealing for cost-conscious urban commuters.
• Battery Tech Breakthroughs: Advances in lithium-ion batteries are extending range and cutting costs. For example, Ola Electric’s S1X model offers a 151 km range, addressing range anxiety for daily riders.
• Rise of Sharing Services: Electric two-wheeler sharing is booming in urban areas. The market hit USD 1.9 billion, with services like Booz Mobility in Ahmedabad expanding last-mile connectivity options.
• Major Players Expand Portfolios: Companies like Bajaj Auto are scaling up, with a 1290% growth in electric three-wheeler sales. Ather Energy’s Rizta launch targets family commuters with advanced features.

Growth Factors in the Electric Two-Wheeler Market

• Rising Urban Congestion Fuels Adoption: Cities are getting crowded, pushing people toward electric two-wheelers for quick, eco-friendly commutes. Over 4.4 billion live in urban areas, driving demand for nimble e-scooters. Ola Electric’s new models saw an 8.2% stock surge after India’s PM E-DRIVE scheme launched.
• Government Incentives Spark Growth: Subsidies make electric two-wheelers more affordable, boosting sales. India’s FAME II scheme increased weekly e-two-wheeler demand from 700 to 5,000 units. Similar tax breaks in Europe, like Italy’s scrappage program, drive eco-friendly purchases.
• Battery Tech Breakthroughs Enhance Appeal: Improved lithium-ion batteries offer longer ranges, up to 200 km, and faster charging. Companies like Panasonic lead with cost-effective solutions, while Yadea’s $1 billion factory investment boosts e-motorcycle production for global markets.
• Eco-Conscious Consumers Drive Demand: People want greener rides to cut carbon emissions, with e-two-wheelers emitting 50% less CO2 than gas-powered bikes. In China, 6 million units sold recently, showing strong consumer preference for sustainable transport.
• Last-Mile Delivery Boosts Commercial Use: E-commerce growth fuels e-two-wheeler demand for deliveries. Amazon’s partnerships with e-vehicle makers and India’s 45% surge in e-three-wheeler cargo sales highlight their efficiency for urban logistics.

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Leading Companies Operating in the Global Electric Two-Wheeler Industry:

• AIMA Technology Co. Ltd.
• Ampere Vehicles Pvt. Ltd.
• BMW AG
• Energica Motor Company S.p.A.
• GOVECS AG
• Hero Electric Vehicles Pvt. Ltd.
• Mahindra GenZe
• Terra Motors Corporation
• Vmoto Limited
• Yadea Technology Group Co. Ltd.
• Zero Motorcycles, Inc.

Electric Two-Wheeler Market Report Segmentation:

By Vehicle Type:

• Electric Scooter/Moped
• Electric Motorcycle

On the basis of the vehicle type, the market has been bifurcated into electric scooter/moped and electric motorcycle.

By Battery Type:

• Lithium-Ion
• Sealed Lead Acid (SLA)

Based on the battery type, the market has been divided into lithium-ion and sealed lead acid (SLA).

By Voltage Type:

• <48V
• 48-60V
• 61-72V
• 73-96V
• >96V

On the basis of the voltage type, the market has been classified into <48V, 48-60V, 61-72V, 73-96V, and >96V.

By Peak Power:

• <3 kW
• 3-6 kW
• 7-10 kW
• >10 kW

Based on the peak power, the market has been segregated into <3 kW, 3-6 kW, 7-10 kW, and >10 kW.

By Battery Technology:

• Removable
• Non-Removable

On the basis of battery technology, the market has been segmented into removable and non-removable.

By Motor Placement:

• Hub Type
• Chassis Mounted

Based on the motor placement, the market has been bifurcated into hub type and chassis mounted.

Regional Insights:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Region-wise, the electric two-wheeler market is divided into Asia Pacific (China, Japan, India, South Korea, Australia, and others), Europe (Germany, France, United Kingdom, Italy, Netherlands, Norway, and others), North America (United States and Canada), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, Saudi Arabia, Egypt, and others).

Recent News and Developments in Electric Two-Wheeler Market

• September 2024: Yadea showcased its ElitePrime and Trooper01 electric two-wheelers at IFA Berlin, featuring over 1900 patents focused on sustainability, with advanced battery management systems improving range by 20% compared to previous models.
• November 2024: Segway-Ninebot signed a licensing deal with BMW Group to integrate advanced safety technologies, such as enhanced stability control, into its electric scooters, boosting rider safety and market competitiveness.
• January 2025: Suzuki Motorcycle launched the e-Access electric scooter in India, incorporating a 3.7 kWh battery and WhatsApp dashboard integration, enhancing urban mobility with seamless connectivity features.

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