Light Electric Vehicles Market Report 2026

The light electric vehicles market size has grown strongly in recent years. It will grow from $91.18 billion in 2025 to $99.91 billion in 2026 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to urban congestion challenges, early adoption of e-bikes, rising fuel prices, government incentives for electric mobility, growth of last mile delivery.

The light electric vehicles market size is expected to see strong growth in the next few years. It will grow to $144.68 billion in 2030 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to expansion of micro mobility infrastructure, battery cost reduction, growth of shared mobility platforms, emission reduction targets, increasing urban population density. Major trends in the forecast period include rising adoption of e-bikes for urban mobility, growing demand for lightweight electric platforms, expansion of shared micro mobility services, increasing focus on compact battery systems, higher use of levs in commercial applications.

The rising demand for e-motorcycles is expected to boost the growth of the light electric vehicle (LEV) market. E-motorcycles, or electric motorcycles, are powered by electric motors rather than gasoline engines. As a type of light electric vehicle, they are environmentally friendly, produce zero emissions, and consume less energy than traditional motorcycles. This rising popularity drives overall demand for light electric vehicles. For instance, in July 2024, according to KAMAX Motorcycle Factory, a China-based manufacturer, the market for all-electric two-wheelers, including scooters and motorcycles, reached approximately 9.9 million units sold in 2023. Therefore, the increasing demand for e-motorcycles is driving growth in the light electric vehicle market.

Major companies in the light electric vehicle market are focusing on innovative products such as smart electric scooters to enhance user experience, improve performance, and offer advanced connectivity features. Smart electric scooters are equipped with digital dashboards, mobile app integration, and programmable settings to monitor performance, optimize battery life, and customize riding experience for convenience and safety. For example, in September 2024, Niu Technologies, a China-based electric scooter manufacturer, launched the KQi 100 series, including the KQi 100P and KQi 100F, featuring LCD dashboards and app-based controls for glide speed, charging limits, and riding modes.

In November 2023, LEV Manufacturing Inc., a US-based manufacturer, acquired Serial 1 Cycle Company, LLC, for an undisclosed amount. This acquisition allows LEV Manufacturing to bring Serial 1’s e-bike assembly, service, and support operations to the U.S., reduce production costs, and expand market reach through in-house manufacturing and broader distribution. Serial 1 Cycle Company LLC is a US-based company specializing in premium pedal-assist electric bicycles with intelligent, human-centred designs and advanced bicycle technologies.

Major companies operating in the light electric vehicles market report include Yamaha Motor Co Ltd, Giant Manufacturing Co Ltd, Merida Industry Co Ltd, Accell Group NV, Yadea Technology Group Co Ltd, Jiangsu Xinri E Vehicle Co Ltd, Gogoro Inc, Vmoto Limited, Hero Electric Vehicles Pvt Ltd, Govecs AG, NIU Technologies, Ather Energy, Ola Electric, TVS Motor Company, Bajaj Auto, Zero Motorcycles, Energica Motor Company, Super Soco, Segway Ninebot, Rad Power Bikes, Trek Bicycle Corporation.

Asia-Pacific was the largest region in the light electric vehicles market in 2025. North America is expected to be the fastest-growing region in the global light electric vehicles market during the forecast period. The regions covered in the light electric vehicles market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the light electric vehicles market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The light electric vehicles market consists of sales of micro electric vehicles, e-moped, e-rickshaw, and electric quadricycles that are used for personal commute, shared public transport and to carry goods. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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