Electric Power Sports Market size was estimated at USD 2.7 billion in 2024 and is projected to attain USD 9.5 billion in 2037, surging at a CAGR of 11.1% during the forecast period i.e. 2025 to 2037. In 2025, the industry size of electric power sports is assessed at USD 3 billion.
The electric power sports industry is experiencing profitable growth due to the growing demand for electric propulsion systems. Electric sports vehicles are becoming increasingly popular with consumers due to their improved performance, reduced operating costs, and environmental friendliness. For instance, in February 2023, Lynx and Ski-Doo introduced their newest electric snowmobiles, the Adventure Electric and Grand Touring Electric models. These models offer a unique riding experience making them ideal for beginners keen to learn more about the sport of snowmobiling.
The electric power sports market is being driven by the incorporation of system-on-modules for GPS navigation, a digital dashboard, and wireless connectivity via Bluetooth, Wi-Fi, and LTE cellular networks. These cutting-edge technologies improve the user experience by offering seamless connectivity, real-time data, and navigation support. For instance, in January 2024, Altmin made a major milestone in the value chain of the EV market by investing USD 100 million in the development of lithium-ion batteries in India, along with a 3 GWh plant. The use of such integrated systems in electric power sports vehicles is increasing market growth and competitiveness as consumers seek convenience and connectivity more and more in their outdoor recreational activities.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
11.1% |
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Base Year Market Size (2024) |
USD 2.7 billion |
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Forecast Year Market Size (2037) |
USD 9.5 billion |
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Regional Scope |
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Application (Recreational Riding, Racing, Utility Work, Adventure Sports, Touring)
In electric power sports market, recreational riding segment is projected to account for revenue share of around 34.7% by 2037. As more people tend to seek interest in outdoor adventures, recreational activities such as electric dirt biking, off-road riding, and electric snowmobiling have garnered considerable interest. In addition, electric power sports offer great solutions for consumers inclined towards sustainable alternatives over traditional recreational vehicles. For instance, in December 2023, Toyota announced the sale of its brand-new Crown Sport Plug-in Hybrid Electric Vehicle (PHEV) model. This model in the Crown lineup is intended to improve the fun, sporty driving experience. Thus, the alignment of consumer preference with sustainable innovations assists in the expansion of recreational riding in the market.
Vehicle Type (Electric Motorcycles, Electric ATVs, Electric Snowmobiles, Electric Bicycles, Electric Scooters)
The electric motorcycle segment is projected to garner significant growth traction in the electric power sports market during the forecasted timeline. Electric motorcycles have gained much attention due to their ability to deliver impressive performance characteristics, such as rapid acceleration and enhanced torque, similar to traditional gasoline-powered models. Furthermore, the growing sense of sustainability coupled with reduced carbon emissions is further promoting interest in electric motorcycles. For instance, in February 2024, Revolt introduced the 150-kilometer-range RV400 BRZ electric motorcycle. Its long-range capability makes it more useful and appealing to users looking for sustainable and effective urban commuting options. Thus, the motorcycle segment will continue to evolve and render choices to consumers seeking performance, sustainability, and convenience.
Our in-depth analysis of the global market includes the following segments:
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Application |
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Vehicle Type |
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Power Source |
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End use |
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North America Market Analysis
By the end of 2037, North America electric power sports market is set to hold over 44.2% revenue share, driven by increasing consumer demand for more environmentally friendly recreational options and improved electric vehicle technology. Growing environmental awareness and supportive government policies, such as tax incentives and funding for charging infrastructure, have contributed to increased adoption. At the same time, post-pandemic, interest in outdoor recreation has surged, driving greater demand for electric power sports, thus making North America a significant market for worldwide electric mobility transition.
The U.S. electric power sports market is witnessing a surge in strategic collaborations between industry leaders to foster knowledge, experience, and enhance market penetration. For instance, in March 2021, according to Polaris' new electrification strategy, it collaborated with Zero Motorcycles to Co-Develop Electric Vehicles as a foundation for rEV'd up. Furthermore, a 10-year exclusive partnership agreement in off-road vehicles and snowmobiles has been signed between Polaris and Zero Motorcycles to combine Zero's proven electric powertrain technology and Polaris' industry leadership.
The market in Canada is evolving at a steady pace as it embraces the support from well-established key players in the market to flourish. For instance, in April 2024, Honda Motor Co., Ltd. announced that it intends to construct a comprehensive EV value chain in Canada with an estimated investment of USD 10.8 million, including investment from joint venture partners. In Alliston, Ontario, Honda has started assessing the conditions necessary to construct a cutting-edge and ecologically conscious Honda EV plant as well as a standalone Honda EV battery plant.
Asia Pacific Market Statistics
Asia Pacific is expected to witness substantial growth in the electric power sports market during the forecast timeline from 2025 to 2037. The growth is stimulated by the rapid pace of urbanization, increasing disposable incomes, and environmental awareness. The growth drivers are being pushed by government initiatives on electric mobility through various subsidies and charging infrastructure developments. Furthermore, well-established manufacturers complemented by a growing innovation ecosystem of startups, make Asia-Pacific critically important to the global future of market.
Consumers in India favor electric two-wheelers owing to their availability of varied product options, dependable technological features, changing purchasing patterns, and adaptable ownership arrangements. For instance, in September 2023, it was published in McKinsey & Company that by 2030, the sales of electric two-wheeler vehicles are expected to surge to 60-70%. The increased use of electric two-wheelers will support India’s alignment with global climate policies, such as faster adoption and manufacturing of electric vehicles, aimed at reducing air pollution and improving traffic conditions.
China focuses on moving strategically with the growth of the market to expand its reach and widen its consumer base through collaborations. For instance, in May 2024, Leapmotor, a Chinese EV manufacturer, planned to join forces with Stellantis to enter India. Two electric vehicles (EVs) will be introduced by the company to its international markets, the D-segment sports utility vehicle (SUV) C10 and a small electric city car known as the T03. Leapmotor will utilize Stellantis’s manufacturing networks and facilities for the regions that will face high tariffs.
The competitive landscape is driven by a growing focus on innovation in performance enhancement, widened range availability, and concerns over sustainability. For instance, in November 2023, at the EICMA 2023 show in Milan, Bosch demonstrated its dedication to influencing the direction of the motorcycle industry. It is revolutionizing the two-wheeler industry with its cutting-edge powertrain systems, a creative software solution with an inclination towards electrification. Moreover, manufacturer cooperation with technology companies to bring together sophisticated features, including connectivity and autonomous features, would make electric power sports more futuristic.
Here’s the list of some key players:
Author Credits: Saima Khursheed
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