Electric Transporters Market
Report ID: SQMIG20V2014
Report ID: SQMIG20V2014
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Report ID:
SQMIG20V2014 |
Region:
Global |
Published Date: June, 2025
Pages:
184
|Tables:
91
|Figures:
70
Global Electric Transporters Market size was valued at USD 48.51 Billion in 2024 and is poised to grow from USD 53.12 Billion in 2025 to USD 109.79 Billion by 2033, growing at a CAGR of 9.5% during the forecast period (2026–2033).
Key drivers of the global electric transporters market growth include advancements in battery technology, declining costs, and government policy support. The cost of producing electric transporters has dropped due to reduced lithium-ion battery production costs, one of the key raw materials in their production. Increasing fuel prices are also a key driver of demand for electric transport.
Economically, electric transporters are a cheap mode of transport relative to conventional means of movement. Owing to the rising fuel price and the high maintenance requirement of internal combustion engines, electric scooters, bicycles, and skateboards can be feasible daily means and short-distance conveyances. The lower running costs of electric vehicles, due to their low maintenance and the declining cost of electricity relative to gasoline, are some of the factors for their growing popularity. For instance, In October 2024, BMW CE 02 electric scooter was introduced at Rs 4.5 lakh. The BMW CE 02 comes with an air-cooled synchronous motor. It is equipped with a 3.9kWh battery, offering a range of 108km (ICAT approved).
In addition, the initial cost of electric transporters has been reduced with advances in battery technology and large-scale economies of production, rendering them accessible to even more customers. Advances in battery technology have enhanced performance, increased ranges, and decreased charging times, reducing some of the primary issues once associated with electric vehicles. Technological advancements in design and engineering have also resulted in easier and more reliable products, which are now suitable for various uses, from city transport to leisure activities. Moreover, the addition of smart features, e.g., mobility with mobile applications for instantaneous monitoring and diagnosing, enhances the experience as well as the popularity of electric transporters.
How AI is Enhancing Efficiency and Performance in Electric Vehicles?
The integration of AI with electric transporters' market is constructing an intelligent transport environment which controls charging schedules, assists in battery production, and even customizes the overall driving experience. This integration enhances efficiency and boosts driving range. Moreover, rising demand for self-driving cars and the application of AI in traffic management enhanced automotive solutions. Governmental support is also driving global automotive AI solutions.
How Startups Are Transforming the Global EV Landscape?
Many companies have entered the global electric transporters industry, concentrating on battery technology, charging networks, and EV innovation. Startups such as Leapmotor, Ola Electric, and Simple Energy are leading the transition to sustainable urban mobility. To optimize EV performance, the companies combine AI, smart connection, and rapid-charging technology. Companies are leading the global transition to electric vehicles with greater government support, more funding, and improved battery efficiency.
Market snapshot - 2026-2033
Global Market Size
USD 44.3 billion
Largest Segment
Li-Ion
Fastest Growth
NiMH
Growth Rate
9.5% CAGR
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Global Electric Transporters Market is segmented by Vehicle Type, Voltage, Battery, End Use and region. Based on Vehicle Type, the market is segmented into Two-wheelers and Personal transporters. Based on Voltage, the market is segmented into 24V, 36V, 48V and Above 48V. Based on Battery, the market is segmented into Lithium-ion, Lead-acid, Nickel-metal hydride and Solid state. Based on End Use, the market is segmented into Personal and Commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
As per the 2024 global electric transporters market analysis, the li-Ion segment captured the highest market share. The dominance of the segment is driven by increased focus on environmental transport channels, and demand for reliable and effective battery technologies continues to increase. Lithium-ion batteries are legendary for their high durability and energy density and thus are essential for most electric transport vehicles. Moreover, increased concern for curbing carbon emissions has led to several incentives from the government for the implementation of EVs, which in turn have increased the demand for Li-Ion batteries.
For instance, 24M Technologies (24M), a Massachusetts-based company specializing in battery technology, launched 'Liforever,' a direct material recycling process for semi-solid lithium-ion vehicle EV batteries and energy storage system batteries, in March 2024.
The NiMH segment is projected to grow at the fastest pace in the electric transporters market over the forecast period. The growth of the segment is due to technological advancement in NiMH, which has led to an increase in charging time and energy storage capacity. The demand for NiMH batteries is also being spurred by concerns over the environment and regulations due to their being less toxic and more environmentally friendly than other batteries.
Based on the global electric transporters market forecast, the electric scooters category topped the market in 2024. The popularity stems from the comfort and ease that electric scooters provide for travel across small distances within the city segment. Electric scooters feature rechargeable batteries and control and speed settings on handlebars. Further, electric scooters are easy to steer along cluttered lanes and populated subways and, as a result, form an efficient mode of commuting.
The electric skateboard segment is also expected to witness the highest growth rate in electric transporters space over the forecast period. This segment growth can be credited to enhancement in motor efficiency and battery technologies, which have tremendously enhanced the overall range and capabilities of these boards. Also, growing popularity as a lifestyle part of sustainable living is also increasing their demand. Moreover, the role played by social media and a tendency for more advanced gadgets has fueled their appeal and presence among youth.
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The Asia Pacific electric transporters market value is anticipated to be USD 10.24 billion in 2024, fueled by the fast pace of urbanization, favorable government initiatives, and increased demand for green mobility solutions. China, India, and Japan are spearheading the transition in the region's EV with heavy investments in charging infrastructure, battery technologies, and environmentally friendly transport policies. The growth in electric two-wheelers, buses, and commercial vehicles has been one of the major drivers of the market. Incentives such as subsidies and tax rebates also encourage EV adoption, with research and development efforts ongoing to enhance vehicle performance, affordability, and accessibility across the region.
China is the global leader in the electric transporters market, with strong government support, sophisticated EV infrastructure, and a large domestic automotive industry. In September 2024, Chinese automotive giant BYD unveiled two new electric commercial vehicles for Europe at the IAA Transportation show in Hannover, Germany. The BYD E-VALI, an all-electric light commercial vehicle (LCV), and the BYD EYT 2.0, an electric yard tractor, were launched to strengthen BYD's global presence. China's dominance in battery technology and production expertise further secures its spot in the worldwide EV market with the likes of NIO, Xpeng, and Geely at the helm.
Driven by increasing gasoline prices, rising concerns for the environment, and government support, India is becoming a key player in the electric transporters market. With state-level incentives and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) initiative behind it, India's EV industry is expected to grow rapidly. To address the needs of urban mobility, the industry is witnessing growth in electric two-wheelers, three-wheelers, and commercial vehicles. The leader in EV technology innovations is Tata Motors, Ather Energy, and Ola Electric. The adoption of EV in the country is also being driven by the growth in battery-swapping technology and charging points.
The electric transporters market also is expected to experience high growth in North America due to its established EV market and growing customer consciousness towards going green. The region is experiencing growing investment in EV infrastructure, such as charging networks and battery technology. In February 2024, Tesla announced its latest supercharger stations in California with solar-powered fast charging and built-in battery storage. Large automakers such as Ford and General Motors also are adding electric vehicle models as the need for clean transportation grows. Moreover, policy initiatives like the Inflation Reduction Act are offering encouragement for EV uptake in the market.
The U.S. led the North American electric transporters market in 2024, as customers increasingly turn towards green mobility solutions. Federal tax credits and state rebates have lowered the cost of EVs. Automakers like Rivian and Lucid Motors are innovating electric vehicles to new limits. In June 2024, Rivian introduced a new battery technology that provides a 600-mile range on a single charge, putting an end to range anxiety for customers. With the advancements in infrastructure and continued investments in public charging stations, the United States is setting itself up to be a global leader in electric transportation.
Canada is quickly growing its electric transporters market with its focus on sustainability and clean energy solutions. The Canadian federal government provides EV purchase rebates and tax credits and is, to a large degree, also investing in charging infrastructure. Hydro-Québec introduced a new program in April 2024 to install 4,500 fast chargers in Canada by 2030. Furthermore, local businesses such as Lion Electric are building additional electric bus and truck factory capacity, which will result in electrification of public and commercial transit. As the government and private investment rise, Canada will be among the front-runners in the market.
The electric transporters market in Europe is booming with tighter emission control, government incentives, and growing consumer awareness. The region is experiencing mounting demand for high-voltage batteries that boost performance and range for electric skateboards, scooters, and bicycles. In March 2024, Volkswagen initiated the launch of its new ID.2 electric hatchback, a nimble yet powerful EV that is designed to reduce the cost of electric driving for European drivers. Urban traffic congestion and pressure on the environment are also pushing consumers towards electric options, rendering electric transport solutions a lucrative business for Europe.
The UK electric transporter market is expected to develop aggressively with huge government spending on EV infrastructure. The government has invested Euro 1.6 billion in building charging networks, including the fitment of thousands of rapid-charging points throughout the nation. Shell Recharge launched an agreement with the government of the UK in September 2024 for the installation of 5,000 ultra-fast charging points in 2026. As the climate crisis increasingly becomes a fact and emission objectives become more rigorous, UK drivers are turning toward electric vehicles, which is driving the market potential growth.
Germany is among the leading players of the European electric transporters market and houses the most renowned motor vehicle manufacturers in the world, such as BMW, Volkswagen, and Mercedes-Benz. Germany also anticipates massive EV integration targets, focusing on having 15 million electric vehicles on roads by 2030. BMW launched its latest next-generation solid-state battery tech in July 2024, with promises of improved charge times and the long-lasting battery. Due to vast government stimulus, green infrastructure spending, and successive innovations from German carmakers, the country remains at the international forefront of shaping the electric transporters market.
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Urban Population Growth
In February 2024, Suzuki and Maruti Suzuki came together to launch electric air copters that are going to change the face of transportation. The electric copters named SkyDrive electric air copters will be able to transport 3 people, including the pilot, and will be big enough to be larger than drones but smaller than regular helicopters.
Smart City Projects
Low Adoption Rate
Limited Charging Infrastructure
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The industry leaders in the competitive electric transporters market are emphasizing innovation, strategic alliances, and expansion. While Rivian and Lucid Motors concentrate on high-end EV products, Tesla and BYD invest in battery technology to enhance the efficiency of their vehicles. To boost adoption, Ola Electric and NIO are developing charging infrastructure. Moreover, car manufacturers such as Volkswagen and Ford are boosting EV production to bolster their market position with government support and sustainability objectives.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global electric transporters market is expected to witness remarkable growth, fueled by technology innovation, government support, and increasing consumer recognition of sustainability. Adoption of EVs is expected to speed up as leaders in the auto industry invest in autonomous driving, charging equipment, and battery technology. Yet challenges such as high upfront prices, low availability of charging infrastructure remain. Industry holds the potential to revolutionize city mobility and lower carbon emissions with continuous innovation, increasing manufacturing capacity, and enabling regulations. Automakers, governments, and IT companies will need to work together to create the future of the electric transporters industry as demand increases worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 48.51 Billion |
| Market size value in 2033 | USD 109.79 Billion |
| Growth Rate | 9.5% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electric Transporters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Transporters Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Transporters Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Transporters Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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