SEA Electric Scooters And Motorcycles Market Size By Vehicle Type (E-scooters, E-motorcycles), By Motor Speed (3.5KW-6.5KW, Below 3.5KW), By Battery Type (Sealed Lead-acid, Lithium-ion), By Voltage (36 V,48 V, 60 V), By Geographic Scope And Forecast
Report ID: 364648|No. of Pages: 202
SEA Electric Scooters And Motorcycles Market Size By Vehicle Type (E-scooters, E-motorcycles), By Motor Speed (3.5KW-6.5KW, Below 3.5KW), By Battery Type (Sealed Lead-acid, Lithium-ion), By Voltage (36 V,48 V, 60 V), By Geographic Scope And Forecast
SEA Electric Scooters And Motorcycles Market Size And Forecast
SEA Electric Scooters And Motorcycles Market size was valued at USD 939.76 Million in 2022 and is projected to grow to USD 14,998.89 Million by 2030, with a CAGR of 46.45% between 2023-2030.
The rise in the demand for personal mobility and the emergence of local e-commerce businesses have significantly contributed to the growth of the Southeast Asia (SEA) Electric Scooters And Motorcycles Market. The SEA Electric Scooters And Motorcycles Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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SEA Electric Scooters And Motorcycles Market Definition
The Southeast Asia (SEA) electric motorcycle and scooter market is witnessing significant growth, and it holds promising opportunities for the future. This dynamic market is influenced by various factors, including rapid urbanization, mounting concerns about traffic congestion, and a growing awareness of environmental issues. These factors are reshaping the transportation landscape in the region. Governments across SEA are actively supporting the adoption of electric mobility. They are implementing incentives, subsidies, and infrastructural developments like charging stations to promote electric two-wheelers.
This support is not only boosting consumer confidence but also attracting investments from manufacturers and startups. One of the key trends in the SEA region is the dominance of affordable and lightweight electric scooters tailored for urban commuting. Brands like Honda, Yamaha, and Suzuki are introducing models that cater to local preferences and price sensitivity. These scooters provide a sustainable and economical solution to the region’s traffic challenges. It’s important to note that the SEA market is diverse, with different countries showcasing unique trends. For example, Indonesia has emerged as one of the fastest-growing markets, with plans to phase out conventional motorcycles by 2040.
Local brands like Gesits are gaining popularity. Meanwhile, Vietnam is experiencing a surge in electric scooter adoption, driven by a rapidly growing economy and urbanization. Companies like VinFast are investing heavily in electric mobility. Thailand has set its sights on becoming a regional hub for electric vehicle manufacturing. The Thai government is offering incentives for EV production, attracting investments from companies like Giant Bicycles. Malaysia is also making strides in the electric vehicle ecosystem, focusing on manufacturing and local production of components. Moreover, public transportation services in Malaysia are increasingly adopting electric scooters.
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SEA Electric Scooters And Motorcycles Market Overview
The rise in the demand for personal mobility and the emergence of local e-commerce businesses have significantly contributed to the growth of the Southeast Asia (SEA) Electric Scooters And Motorcycles Market. These factors are interconnected and have a substantial impact on the adoption of electric two-wheelers in the region. Many major cities in SEA are plagued by severe traffic congestion, leading to longer commute times and increased frustration among residents. Personal mobility solutions, such as electric scooters and motorcycles, offer an efficient means of navigating through congested streets and reducing commute times. Rapid urbanization in the region has resulted in densely populated cities with limited space for parking and a need for compact transportation options.
Electric two-wheelers are well-suited for these urban environments, as they require less parking space and can easily maneuver through crowded streets. The growth of local e-commerce businesses and food delivery platforms in SEA has led to an increased demand for efficient delivery solutions. Electric scooters and motorcycles are well-suited for this purpose, offering cost-effective and eco-friendly delivery options. Many local e-commerce platforms and restaurants rely on electric two-wheelers for their delivery operations. Local e-commerce businesses benefit from the lower operating costs associated with electric scooters and motorcycles. They require less maintenance, and the cost of electricity is generally lower than gasoline, contributing to overall cost savings for businesses.
Limited charging infrastructure is indeed a significant challenge to the growth of the Southeast Asia (SEA) electric motorcycle and scooter market. Users of electric scooters and motorcycles may worry about running out of battery power before reaching their destination, especially on longer trips. The scarcity of charging stations can make it inconvenient for riders to plan their routes around available charging points, limiting their flexibility. The inadequate charging infrastructure can slow down the market growth of electric two-wheelers, despite their suitability for the region’s urban commuting needs. As a result of limited charging options, some users may revert to traditional gasoline-powered vehicles, contributing to continued traffic congestion and pollution in urban areas.
SEA Electric Scooters And Motorcycles Market: Segmentation Analysis
The Southeast Asia (SEA) Electric Scooters and Motorcycles Market is segmented on the basis of Vehicle Type, Motor Speed, Battery Type, Voltage, and Geography.
SEA Electric Scooters And Motorcycles Market, By Vehicle Type
- E-scooters
- E-motorcycles
Based on Vehicle Type, the market is segmented into E-scooters and E-motorcycles. E-motorcycles accounted for the largest market share of 89.61% in 2022 and are projected to grow at the highest CAGR during the forecast period. E-scooters were the second-largest market in 2022. Electric scooters, commonly referred to as e-scooters, are compact, battery-powered two-wheelers designed for personal transportation. They are similar in appearance to traditional scooters but are equipped with an electric motor and a rechargeable battery instead of a gasoline engine. Users typically stand on a platform with one foot, push off with the other, and use handlebars for steering. Electric scooters have gained popularity as a convenient and eco-friendly mode of urban transportation, particularly for short trips and last-mile connectivity.
SEA Electric Scooters And Motorcycles Market, By Motor Speed
- 3.5KW-6.5KW
- Below 3.5KW
- Above 6.5 KW
Based on Motor Speed, the market is segmented into 3.5KW-6.5KW, Below 3.5KW, and Above 6.5 KW. 3.5KW-6.5KW accounted for the largest market share of 58.92% in 2022 and is projected to grow at the highest CAGR during the forecast period. Below 3.5KW was the second-largest market in 2022. Low-power electric scooters in this category are typically designed for short-distance urban commuting and serve as entry-level options. They are ideal for riders with basic mobility needs and those looking for cost-effective and eco-friendly transportation. Due to their lower power output, these scooters are best suited for city environments with lower speed limits and shorter commuting distances.
SEA Electric Scooters And Motorcycles Market, By Battery Type
- Sealed Lead-acid
- Lithium-ion
Based on Battery Type, the market is segmented into Sealed Lead-acid and Lithium-ion. Sealed Lead-acid accounted for the largest market share of 80.24% in 2022 and is projected to grow at the highest CAGR during the forecast period. Lithium-ion was the second-largest market in 2022. SLA batteries are known for their durability and ability to withstand harsh environmental conditions. This makes them suitable for rugged and varied terrains, which is common in some parts of the SEA region.
SEA Electric Scooters And Motorcycles Market, By Voltage
- 36 V
- 48 V
- 60 V
- 72 V
Based on Voltage, the market is segmented into 36 V,48 V, 60 V, and 72 V. 48 V accounted for the largest market share of 63.47% in 2022 and is projected to grow at the highest CAGR during the forecast period. 60 V was the second-largest market in 2022. 48V batteries are commonly used in the electric scooter and motorcycle market, offering a higher voltage compared to 36V batteries. This higher voltage provides increased power and performance, expanding the range of applications and use cases.
SEA Electric Scooters And Motorcycles Market, By Geography
- Vietnam
- Indonesia
- Philippines
- Thailand
- Malaysia
- Singapore
- Rest of SEA
Based on Geography, the SEA Electric Scooters And Motorcycles Market is segmented into Vietnam, Indonesia, Philippines, Thailand, Malaysia, Singapore, and the Rest of SEA. Vietnam accounted for the largest market share of 80.25% in 2022 and is projected to grow at a CAGR during the forecast period. Indonesia was the second-largest market in 2022. However, the Philippines is projected to grow at the highest CAGR.
Key Players
The “SEA Electric Scooters And Motorcycles Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Hyundai Motors, Gojek, Dat Bike, Vespa Electric, Energica Motor Company, Evolet, Treeletrik, Neuron Mobility, VinFast, and Inokim. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Company Market Ranking Analysis
The company ranking analysis provides a deeper understanding of the top 3 players operating Electric Scooter & Motorcycles Market. VMR takes into consideration several factors before providing a company ranking. The top three players for the Hyundai Motors, Gojek, Dat Bike. The factors considered for evaluating these players include company’s brand value, product portfolio (including product variations, specifications, features and price), company presence across major regions, product related sales obtained by the company in recent years and its share in the total revenue. VMR further study the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance their market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various Electric Scooters & Motorcycles Markets.
Company Industry Footprint
The company industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. For instance, Hyundai Motors has its presence in all the above industries. All the companies considered for profiling are reviewed similarly under this section. These sections help us to understand the overall Electric Scooter & Motorcycles Market presence on a SEA and country level.
Ace Matrix
This section of the report provides an overview of the company evaluation scenario in the Electric Scooter & Motorcycles Market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as the product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2019-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Period | 2019-2021 |
| Unit | Value (USD Million) |
| Key Companies Profiled | Hyundai Motors, Gojek, Dat Bike, Vespa Electric, Energica Motor Company, Evolet, Treeletrik, Neuron Mobility, VinFast, and Inokim. |
| Segments Covered | By Vehicle Type, By Motor Speed, By Battery Type, By Voltage, and By Geography. |
| Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Econometrics and data visualization model
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Primary validation
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The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
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The aims of doing primary research are:
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Industry Analysis Matrix
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