Electric Two-Wheelers Market Overview
The Electric Two-Wheeler Market is expected to be valued at USD 33,419.8 Million by 2025, with a CAGR of 13.39% during the forecast period (2019–2025).
The report covers segmentation and drivers for a better glimpse of the market in the coming years. Electric two-wheelers operate through rechargeable batteries and electric motors. Electric two-wheelers include electric scooters and electric motorcycles. The functioning of the electric two-wheelers is based on the power storage in a rechargeable battery, which drive the electric motors. These two-wheelers are used for both, commercial and recreational purposes.
Electric Two-Wheelers market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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Globally Major key Players accelerates the Electric Two-Wheelers Market are, Jiangsu Xinri E-Vehicle Co., Ltd(China), Ampere Vehicles(India), Vmoto Limited(Australia), Hero Electric(India), GOVECS AG(Germany), Energica Motor Company S.p.A.( Italy), Niu International (China), China Zhongneng Vehicle Group Co.(China), Zero Motorcycles Inc(US), Wuxi YADEA Export-Import Co., Ltd(China)
- The addition or loss of liquid
- The demand from both domestically and internationally
Most important Segments of Electric Two-Wheelers market covered in this report are,
The Global Electric Two-Wheeler Market is segmented based on Type, Battery Type, Voltage, and Region. On the basis of type, the electric scooter segment is expected to dominate the global market, because of lower operating costs compared to the conventional ICE vehicles and similar performance. Also, these vehicles help save costs related to fuel, spark plug change, and oil filter replacements coupled with their minimalistic design characteristics, which reduces their maintenance costs.
On the basis of the battery type, the sealed lead acid segment is expected to dominate the market. Sealed lead-acid batteries are cost-effective than the other types and are also known as “maintenance free” batteries, which are low maintenance and rechargeable sealed lead-acid batteries. Sealed lead-acid batteries are called “sealed” because they normally do not allow for the addition or loss of liquid. Such factors are expected to drive the growth of the sealed lead acid segment during the forecast period.
On the basis of voltage, the 48V segment is expected to dominate the market. The 48V battery is used in retro and self-balancing electric two-wheelers. The demand for high-speed electric two-wheelers is increasing owing to the growing battery capacity and reduced weight of the batteries, which expected to fuel the growth of the global electric two-wheeler market.
Electric Two-Wheelers Industry Influence of the global market report:
- Comprehensive assessment of all opportunities and risks in the Electric Two-Wheelers Market.
- Electric Two-Wheelers Market recent innovations and major events.
- A detailed study of business strategies for the growth of the Electric Two-Wheelers Market market-leading players.
- Conclusive study about the growth plot of Electric Two-Wheelers Market for forthcoming years.
- In-depth understanding of Electric Two-Wheelers Market, market-particular drivers, constraints, and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Electric Two-Wheelers Market.
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The global Electric Two-Wheelers market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.
Geographic analysis of the global electric two-wheeler market spans across North America, Europe, Asia-Pacific (APAC), and rest of the world.
Asia-Pacific was the leading market with a market value of USD 9,699.2 million. The market value of Asia-Pacific is expected to reach USD 24,385.4 Million by 2025 with an impressive 14.18% CAGR during the forecast period.
Asia-Pacific is one of the prominent markets in the global electric two-wheeler market owing to the presence of China, India, and Japan. The major players in the region are heavily investing in electric two-wheelers by developing the advanced electric two-wheelers to increase the adoption of such vehicles. Moreover, the global established players and start-ups are taking advantage of the region by introducing newer models or services of electric two-wheelers. Asia-Pacific is expected to grow with the highest CAGR rate during the forecast period.
Europe held the second-largest market share in the electric two-wheeler market. The growth of the electric two-wheeler market in Europe is estimated to witness a tremendous pace, owing to the new emission standards introduced by the European Union and the respective governments. Additionally, the EU is taking collective efforts towards controlling rising air pollution levels and is providing support in the form of incentives, subsidies, and schemes to encourage the manufacturing and sale of electric two-wheelers. Increasing expenditure on research & development by European players is expected to play a key role in the growth of the market in this region. Presence of major electric two-wheeler manufacturing companies such as Energica Motor Company S.p.A and GOVECS AG, is focusing on research and development of electric two-wheeler to improve the efficiency of the electric two-wheeler. the regional market was valued at USD 2,309.6 million, which is expected to reach USD 5,078.9 Million by 2025 with a 12.02% CAGR during the forecast period.
North America is among the leading regions in the electric two-wheeler market, especially due to the government initiatives for adopting electric vehicles. The increasing focus of leading electric two-wheeler manufacturers towards developing technologically advanced products with better performance and price competitiveness is expected to drive the demand for electric two-wheelers during the forecast period. The regional electric two-wheeler market is expected to be valued at USD 2,998.0 million by 2025 at a CAGR of 11.14% during the forecast period.
The following report comprises of –
- Market overview
- Covid 19 Analysis
- Market Dynamic
- Cumulative Growth Analysis
- Value Chain Analysis
The Electric Two-Wheelers market is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.
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