Electric Transporters Market Size

Global Electric Transporters Market size was valued at USD 44.3 billion in 2023 and is poised to grow from USD 48.51 billion in 2024 to USD 100.26 billion by 2032, growing at a CAGR of 9.5% during the forecast period (2025-2032).

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.

• For instance, in October 2024, Uber debuted an AI chatbot for drivers interested in EVs. Uber is also adding new features to its platform that are more sustainability-oriented, such as an "EV preference" that will enable customers to choose fully electric vehicles by default whenever they are looking for a ride.

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.

• Leapmotor (2015): One of the newly established electric vehicle organizations in China, Leapmotor, is dedicated to manufacturing high-performance but affordable EVs in large volumes. Its portfolio consists of vehicles such as the C10 for long-distance use and the T03, a small urban car. Leapmotor develops better performance and affordability through intelligent connection, AI features, and battery economy. Leapmotor plans to boost EV adoption in China and support the nation's transport sustainability efforts by focusing on domestic production and new battery technology.

• Ola Electric (2017): Formerly a ride-hailing company, Ola Electric has evolved to become one of India's leading manufacturers of electric scooters, spearheading the nation's shift towards sustainable transportation. The Ola S1 series from the company features premium electric scooters with quick charging and intelligent connection. Ola is making huge investments in EV charging infrastructure, including an India-wide chain of hyperchargers. Ola wants to enable clean urban transportation and replace gasoline-driven two-wheelers with its "Mission Electric" initiative. Electric transportation is becoming affordable and ubiquitous due to Ola Electric's implementation of cutting-edge battery technology and high-volume production.

• Simple Energy (2019): With its Simple One model, Simple Energy is transforming the Indian electric two-wheeler industry. The scooter is a trailblazer in urban transportation because of its AI-powered functions, quick charging, and best-in-class range. The company advocates for high-performance, eco-friendly electric vehicles because it believes fossil fuel use must be minimized. To enhance energy efficiency, Simple Energy is also investing in cutting-edge R&D and local battery manufacturing. The company aims to promote the uptake of electric transport in India by giving heavy importance to innovation and sustainability.