As per findings from Market Research Future, the global motorcycles market is slowly but surely embracing electrification. While the motorcycles market electric segment currently represents a fraction of total sales—with electric motorbikes accounting for 8.5% in 2024, down from 10.7% in 2023—it is widely considered the fastest-growing segment with significant long-term potential .
The current state of the motorcycles market electric is complex. In 2024, global new sales of electric motorbikes decreased from 6.15 million to 5.11 million units, primarily due to a decline in the Chinese market . This reflects a cooling of the "all-out electrification" trend, as factors like subsidy reductions in Europe and Taiwan, as well as rising safety concerns about batteries in India, have created headwinds . Price sensitivity in many Asian countries remains a major challenge. However, the long-term trajectory is clear. The segment is expected to grow as technology improves and costs decline. In India, for example, electric two-wheeler sales are on track to cross 2 million units in 2026, a clear sign of accelerating adoption .
Several factors are poised to drive the motorcycles market electric forward. A key trend is the rise of software-defined vehicles (SDVs), which, despite challenges, could unlock new value in electric two-wheelers . Another crucial element is the business model of swappable batteries, which separates the vehicle from the battery business and is seen as key to proliferation, especially in commercial applications like delivery services . Major manufacturers, including Bajaj Auto, Hero MotoCorp, TVS, and Royal Enfield, are now investing heavily in dedicated electric motorcycle platforms . As battery economics continue to improve and supportive government policies remain in place, the motorcycles market electric segment is expected to experience sustained growth, potentially reshaping the industry landscape in the coming decades .
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