The Global Electric Two Wheeler Market is estimated to be USD 3.69 Bn in 2023 and is expected to reach USD 5.66 Bn by 2028 growing at a CAGR of 8.91%.Growing concerns over greenhouse gas and carbon emissions
The Electric Two-Wheeler Market is currently experiencing a significant surge in demand, primarily attributed to the global shift towards sustainability, urban mobility solutions, and environmentally friendly transportation alternatives. This market is influenced by a complex interplay of factors, including rapid technological advancements, government incentives, growing environmental awareness, and shifting consumer preferences. Electric two-wheelers encompass a diverse range of vehicles, including electric bicycles (e-bikes), scooters, and motorcycles, all of which share the common characteristic of being powered by electric motors and batteries.
A pivotal driver of the Electric Two-Wheeler Market is the increasing global consciousness regarding environmental issues and the pressing need for cleaner and more sustainable modes of transportation. Electric two-wheelers offer a compelling solution, emitting zero tailpipe emissions and contributing significantly to reducing air pollution in densely populated urban areas. Governments worldwide are actively promoting the adoption of electric two-wheelers through various means such as subsidies, tax incentives, and favorable regulatory policies, thereby stimulating market growth. Additionally, the potential for substantial cost savings associated with electric two-wheelers, including reduced fuel and maintenance expenses, makes them particularly appealing to budget-conscious consumers.
Technological advancements, especially in battery technology and electric propulsion systems, constitute another pivotal driver of market expansion. Lithium-ion batteries, characterized by their high energy density and increasingly cost-effective production, are enabling electric two-wheelers to achieve longer riding ranges and faster charging times. Furthermore, the incorporation of smart features such as connectivity, smartphone integration, and advanced safety systems is enhancing the appeal of electric two-wheelers, making them more competitive with conventional gasoline-powered counterparts.
Despite its rapid growth, the Electric Two-Wheeler Market encounters specific challenges. Notably, the limited range of electric two-wheelers in comparison to traditional gasoline-powered vehicles remains a concern, particularly for long-distance commuters. While progress is being made, the development of charging infrastructure still lags behind the increasing adoption of electric two-wheelers in certain regions, posing a logistical challenge. Additionally, addressing battery degradation over time, which can impact overall performance and range, requires continuous innovation in battery chemistry and management systems. Lastly, concerns related to the environmental impact of battery production and disposal necessitate comprehensive solutions to ensure the market's long-term sustainability.
- The Electric Two-Wheeler Market can be categorized based on vehicle type, battery type, propulsion type, and geographical region. Vehicle types encompass e-bikes, e-scooters, and e-motorcycles, each catering to distinct consumer needs and preferences. Battery types include lithium-ion, lead-acid, and other variants, with lithium-ion batteries prevailing due to their superior performance characteristics. Propulsion types encompass hub motor and mid-drive motor configurations, offering diverse riding experiences. Geographically, market dynamics differ, with regions like Asia-Pacific experiencing substantial growth due to high population densities and rapid urbanization, while North America and Europe are also witnessing a steady increase in adoption.
- In conclusion, the Electric Two-Wheeler Market represents a dynamic and rapidly evolving sector driven by environmental awareness, technological breakthroughs, and government support. As the world increasingly prioritizes sustainable and efficient transportation solutions, electric two-wheelers are poised to play an increasingly central role in urban mobility. While persistent challenges related to range, infrastructure development, and environmental considerations exist, ongoing innovations and collaborative efforts within the industry are expected to propel the market forward. The future of transportation is unmistakably electric, with electric two-wheelers leading the way towards cleaner and more sustainable mobility solutions.
Market Segmentations
- The Global Electric Two Wheeler Market (2023-2028) by Battery Type, Range, Technology Type, Usage, and Geography.
- By Battery Type, In the Electric Two-Wheeler Market, which is categorized based on battery type, a wide range of electric mobility solutions is encompassed. Lithium-ion batteries are the dominant choice in this market segment due to their superior energy density, longer riding ranges, and faster charging capabilities, making them the preferred option for electric bicycles, scooters, and motorcycles. Although less common, lead-acid batteries are still used, particularly in applications where cost considerations are paramount. Moreover, this segment is continuously evolving with emerging battery technologies and advancements aimed at enhancing battery efficiency, extending its lifespan, and minimizing environmental impact. As lithium-ion batteries become more cost-effective and accessible, they are expected to play a pivotal role in driving the growth of the Electric Two-Wheeler Market, delivering improved performance and range to consumers worldwide.
- By Usage, when categorized by usage, the Electric Two-Wheeler Market encompasses a diverse array of electric mobility solutions designed to cater to a wide range of consumer preferences and transportation needs. This category includes electric bicycles (e-bikes), which are engineered for pedal-assist or throttle-based riding, providing an environmentally friendly and efficient mode of transportation in urban settings. Additionally, electric scooters are tailored for short-distance commuting and addressing last-mile connectivity challenges, frequently deployed within shared mobility services. For those seeking a robust and emission-free alternative to conventional gasoline-powered motorcycles, electric motorcycles offer a potent and versatile option suitable for urban commuting as well as off-road adventures. This segmentation approach ensures that consumers have access to electric two-wheelers that precisely match their individual mobility requirements, thereby contributing to the overall expansion and adoption of sustainable transportation solutions.
Recent Development
- The iQube electric scooter was introduced by TVS Motor, one of India's largest two-wheeler producers. The iQube, an electric two-wheeler with a 4.4 kW motor, a top speed of 78 km/h, and a range of up to 100 km on a single charge, helped usher in a new era of dependable technology and features. - January 2020
- One Electric has started production of its motorcycles in kenya as part of its overseas expansion plan
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are AIMA Technology, Ather Energy, Hero Electric, One Electric, Yadea Group, etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Electric Two Wheeler Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Electric Two Wheeler Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Electric Two Wheeler Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics- Electric Two-Wheeler Market
4.2 Restraints
5 Market Analysis
6 Global Electric Two-Wheeler Market, By Battery Type
7 Global Electric Two-Wheeler Market, By Range
8 Global Electric Two-Wheeler Market, By Technology Type
9 Global Electric Two-Wheeler Market, By Usage
10 Americas' Electric Two-Wheeler Market
11 Europe's Electric Two-Wheeler Market
12 Middle East and Africa's Electric Two-Wheeler Market
13 APAC's Electric Two-Wheeler Market
14 Competitive Landscape
15 Company Profiles
16 Appendix
Companies Mentioned
- AIMA Technology
- Askoll Eva S.PA
- Ather Energy Pvt. Ltd
- Energica Motor Company
- GOGORO
- Govecs
- Hero Electric
- NIU International
- Okinawa Autotech international
- One Electric
- Silence urban Eco mobility
- VMOTO limited
- YADEA Technology Group
- Zero motorcycles
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 180 |
Published | February 2024 |
Forecast Period | 2023 - 2028 |
Estimated Market Value ( USD | $ 3.69 Billion |
Forecasted Market Value ( USD | $ 5.66 Billion |
Compound Annual Growth Rate | 8.9% |
Regions Covered | Global |
No. of Companies Mentioned | 14 |