Asia-Pacific Electric Scooter Market by Vehicle Type (Electric Motorcycles, E-scooters & Bikes), Power Output (Less Than 3.6kW, 3.6kW to 7.2kW), Battery Technology, Motor Type, Charging Type, End User, and Country - Regional Forecasts to 2029

The Asia-Pacific Electric Scooter Market is expected to grow at a CAGR of 28.9% from 2022–2029 to reach $625.03 billion by 2029. By volume, this market is expected to grow at a CAGR of 26.4% from 2022–2029 to reach  266.04 million units by 2029. The growth of this market is attributed to favorable government policies and regulations, the rising environmental concerns, and the increasing investments by OEMs & ride-hailing companies in the micromobility space. Furthermore, decreasing prices of batteries offer lucrative opportunities for the growth of this market.

Impact of COVID-19 on the Asia-Pacific Electric Scooter Market

The outbreak of the COVID-19 pandemic emerged towards the end of December 2019 in Wuhan, China. By March 2020, it had already spread worldwide, resulting in huge casualties and heavy economic losses. The pandemic severely impacted several sectors, including the automotive sector, with major manufacturers shutting down their operations completely or operating at reduced capacities following the directives issued by their respective governments. The automotive industry was severely affected by the nationwide lockdowns. Furthermore, the uncertainty regarding the duration of the lockdown and supply-chain disruptions made it more difficult for industry players to anticipate the recovery of the industry. This crisis caused structural shifts that had significant implications on market growth.

The Asian electric Scooter market was moderately affected as the severe spread of the COVID-19 outbreak was limited to some countries. However, several developing countries witnessed a sharp decline in their economy due to low consumer demands and increased prices for essential commodities. As a result, the annual growth of electric Scooter witnessed a severe decline compared to previous years. To overcome this problem, several companies invested huge capital in their research and development programs to enhance the development of electric Scooter. For instance, Hyundai Motor Group developed a new prototype electric scooter with rear-wheel drive, a highly capable lithium battery, and sophisticated front and rear lights.

The Asia-Pacific electric Scooter market is segmented based on vehicle type, power output, battery technology, motor type, charging type, end user, and country. The study also evaluates industry competitors and analyses the market at the country level.

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Decreasing Prices of Batteries

Battery electric vehicles include electric Scooter, e-bikes, electric motorcycles, and other electric vehicles. However, the cost and range limitations associated with batteries are a major restraining factor for the complete transition to electric mobility. Its capacity determines the cost of an electric vehicle battery in kilowatt-hours (kWh), which dictates its range and the power level of the motor supplied. Technological advancements have brought down the cost of electric two-wheelers. Today, EV battery manufacturers are aiming to provide EV manufacturers with high-capacity batteries or reduce battery prices to ensure the overall cost of a vehicle falls under the subsidized range.

The government regulations in Asia to phase out fossil fuel-powered vehicles, the growing concerns raised over the environmental impacts of conventional vehicles, the improvements in battery capacity, and the increasing number of supportive government policies and regulations are promoting the growth of this market.

In 2020, the Government of India announced its plans to invest $4.6 billion in incentives for setting up advanced battery manufacturing facilities and promoting the use of EVs. Also, it announced to retain its import tax rate of 5% for certain types of batteries, including batteries for e-Scooter, e-bikes, electric motorcycles, and other electric vehicles, until 2022. Therefore, such initiatives are expected to help reduce the total manufacturing cost of batteries, thus promoting electric two-wheelers adoption in the coming years.

According to a report by Bloomberg NEF, the average price per kilowatt-hour for batteries is expected to be approximately $100/kWh by 2023, making it possible for electric two-wheeled vehicles to be priced the same as comparable gasoline-powered vehicles.

Several players in the market are incorporating advanced technologies and focusing on ways to reduce the battery size and costs of vehicles and improve their performance and power-to-weight ratio. In 2020, Samsung SDI (South Korea) commercialized a Li-ion battery product to replace liquid electrolytes in a battery cell with a solid electrolyte to improve battery performance. Such developments by major players in reducing the battery size of vehicles and improving their performance further contribute to the growth of this market.

Key Findings in the Asia-Pacific Electric Scooter Market Study:

E-Scooter & Bikes Segment Expected to Grow at Highest CAGR During Forecast Period

Based on vehicle type, the Asia-Pacific electric Scooter market is segmented into electric motorcycles, e-Scooter & bikes. The e-Scooter & bikes segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing government subsidies to promote electric mobility, the increasing usage of e-Scooter & bikes in courier and e-commerce delivery applications, and the growing demand for energy-efficient commuting.

E-Scooter & bikes are e-kick and electric power-assist bicycles. With the advancements in the electrification of two-wheelers, micromobility is becoming an efficient and reliable means of transportation within cities and towns. E-Scooter & bikes are lightweight and more efficient than conventional bikes and can maneuver easily through congested streets. They serve the limited purpose of short-distance commuting. These vehicles can be charged easily with the electrical outlet and often have a removable or replaceable battery, providing the convenience of charging indoors.

3.6 kW to 7.2 kW Segment Expected to Grow at Highest CAGR During Forecast Period

Based on power output, the Asia-Pacific electric Scooter market is segmented into less than 3.6 kW, 3.6 kW to 7.2 kW, and 20 kW to 100kW. The 3.6 kW to 7.2 kW segment is expected to grow at the highest CAGR during the forecast period. This segment category denotes electric mopeds. The growth of this segment is attributed to the cost-effectiveness of electric mopeds, low service costs, minimum maintenance, zero tailpipe emissions, and the ability to run 60 km on a single charge.

Lithium-ion Polymer Battery Segment Expected to Grow at Highest CAGR During Forecast Period

Based on battery technology, the Asia-Pacific electric Scooter market is segmented into the sealed lead acid battery, lithium-ion battery, and lithium-ion polymer battery. The lithium-ion polymer battery segment is expected to grow at the highest CAGR during the forecast period. The LiPo battery is preferred by most electric bike manufacturers and is widely equipped on e-bikes. Compared to the other lithium batteries, the LiPo battery has a lower price yet maintains its performance. LiPo batteries use solid, colloidal polymers or organic electrolytes. It is also beneficial for large battery capacity and fast charging.

Hub Motor Segment Expected to Grow at Highest CAGR During Forecast Period

Based on motor type, the Asia-Pacific electric Scooter market is segmented into hub motors and mid-drive motors. The hub motor segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to high flexibility and its ability to run in all-wheel-drive, providing higher stability. Hub motors are powerful motors, and their power depends on the copper-coiled windings in them. There are two types of hub motors: geared hub motors with internal planetary gears to reduce the speed of a higher RPM motor, and gearless hub motors with no gears and zero moving parts to directly connect the lower RPM motor stator’s axle to the bike.

Wireless Charging Segment Expected to Grow at Highest CAGR During Forecast Period

Based on charging type, the Asia-Pacific electric Scooter market is segmented into connector charging and wireless charging. The wireless charging segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the flexibility to charge the vehicle without physical contact and its higher charging speed which eliminates range anxiety.

Wireless charging systems for electric Scooter are charging systems that use inductive power transfer technology to transfer power over the air from a pad embedded in the ground to a pad attached to the underbelly of an electric vehicle to charge the vehicle’s battery. These pads are either installed in the parking spaces of commercial infrastructures and private garages for charging one vehicle at a time or along a stretch on the road for charging multiple vehicles while they are on the move.

Business Organizations Segment Expected to Grow at Highest CAGR During Forecast Period

Based on end user, the Asia-Pacific electric Scooter market is segmented into government institutions, academic institutes/universities, business organizations, micro-mobility service providers, individuals, and other end users. The business organizations segment is expected to grow at the highest CAGR during the forecast period. The large share of the segment is attributed to the government initiatives to push towards faster EV adoption, last-mile transportation, and reducing road congestion.

Numerous e-commerce companies are using e-Scooter for their delivery services. In January 2020, Ampere Vehicles partnered with online grocery store Supermarket Grocery Supplies Pvt Ltd to electrify the process in six metro cities in India, including Bengaluru, Chennai, Hyderabad, Mumbai, Pune, and Delhi NCR.

Philippines: Fastest-Growing Country in Asia-Pacific Electric Scooter Market

Based on country, the Philippines is expected to record the highest CAGR during the forecast period. The EV adoption in this country is driven by the initiatives taken by the local governments to encourage investments in electric mobility and the adoption of cleaner technologies.

The Electric Vehicle Association of the Philippines (EVAP) forecasts an annual growth rate of 8-12% with revenue generation of $33.6 million from services and sales of approximately 200,000 units of electric vehicles by 2024. Additionally, many small-scale programs have been launched by the local government units (LGUs) of the Philippines and businesses, such as resorts, on eco-friendly vehicle adoption.

Key Players

The key players operating in Asia-Pacific electric Scooter market are Yamaha Motor Co., Ltd. (Japan), Yadea Group Holdings Ltd. (China), Niu Technologies (China), Fuji-Ta Bicycle Co., Ltd. (China), Zhejiang Minimotors Bike Co., Ltd. (China), Gogoro Inc. (Taiwan), Ather Energy Pvt. Ltd. (India), Revolt motors (India), Hero MotoCorp Ltd. (India) and Dongguan Tailing Electric Vehicle Co., Ltd. (China).

Scope of the Report:

Asia-Pacific Electric Scooter Market, by Vehicle Type

• Electric Motorcycle
• E-Scooter & Bikes

Asia-Pacific Electric Scooter Market, by Power Output

• Less than 3.6 kW
• 6 kW to 7.2 kW
• 20 kW to 100 kW

Asia-Pacific Electric Scooter Market, by Battery Technology

• Lithium-ion Battery
• Sealed Lead Acid battery
• Lithium-ion Polymer battery

Asia-Pacific Electric Scooter Market, By Motor Type

• Hub Motor
  • Gearless Hub Motor
  • Geared Hub Motor
• Mid-Drive Motor

Asia-Pacific Electric Scooter Market, by Charging Type

• Connector Charging
• Wireless Charging

Asia-Pacific Electric Scooter Market, by End User

• Business Organizations
• Micro-Mobility Service Providers
• Individuals
• Academic Institutes/Universities
• Government Institutions
• Other End Users

Asia-Pacific Electric Scooter Market, by Country

• China
• Japan
• South Korea
• New Zealand
• India
• Australia
• Malaysia
• Taiwan
• Philippines
• Thailand
• Singapore

Key Questions Answered in the Report: