ID: MRFR/AM/4010-CR | January 2020 | Region: Global | 116 pages
Global Electric Two-Wheeler Market in terms of value is estimated to register 13.39% CAGR during the forecast period.
The Global Market for Electric Two-Wheeler is expected to witness rapid growth during the forecast period. Asia-Pacific is expected to dominate in the electric two-wheeler market owing to the presence of China, India, and Japan. The developing countries in the region are recognized as the leading countries for electric two-wheelers and electric two-wheeler parts in the global market. Moreover, demand for electric two-wheelers among tourists drives the market during the forecast period. China is one of the significant producers of electric two-wheeler in Asia-Pacific. In 2018, China’s Development and Reform Commission announced a new USD 47 billion fund, which supports the development of electric vehicles (EV) technologies. The companies in the country aim to reduce the costs of the electric two-wheeler to meet the demand from both domestically and internationally.
In 2018, Europe held the second largest market share in the global electric two-wheeler market. The constant efforts by the government to reduce the gas emission are expected to fuel the demand for electric two-wheelers in the region during the forecast period. Efforts taken by the domestic manufacturers to design lighter and more energy efficient two-wheeler solutions for the consumers. In addition, the growing concern for increasing carbon emissions, low maintenance cost of electric two-wheelers, and favourable regulatory environment are expected to drive the adoption of green mobility vehicles and is expected to create lucrative opportunities for the major players in electric two-wheelers.
The Global Electric Two-Wheeler Market is segmented based on Type, Battery Type, and Voltage. On the basis of type the electric two-wheeler market is segmented into electric motorcycle and electric scooter. The electric scooter segment held the largest market share in 2018 as electric scooter is widely used.
By Battery Type, the global electric two-wheeler market is segmented as sealed lead acid, lithium-ion, and other. The sealed lead acid segment accounted for the largest market share in 2018. Moreover, these batteries are cost-effective than the other types of and known as “maintenance free” batteries, are low maintenance and rechargeable sealed lead acid batteries. The sealed lead acid batteries are available in all shapes, voltages, amperages and sizes. 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 electric two-wheeler market is segmented into 24V, 36V, 48V, and More than 48V. The 48V segment held the largest market share in terms of value in 2018. 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 48V segment in the global electric two-wheeler market.
By region, the Global Electric Two-Wheeler Market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Electric Two-Wheeler Market, by Region, 2018
Source: MRFR Analysis
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. Moreover, the presence of various established as well as emerging electric two-wheeler manufacturers, such as BOXX Corp., ZEV, and Unagi Scooters, in the region is estimated to increase the production and export capabilities in the region during the forecast period.
The Global Electric Two-Wheeler Market has been segmented on the basis of Type, Battery Type, Voltage, and Region. On the basis type, the global electric two-wheeler market is segmented into an electric motorcycle and electric scooter. The electric scooter segment is expected to dominate the market, due to these vehicles helps to save costs related to fuel, spark plug change, and oil filter replacements coupled with their minimalistic design characteristics, which reduces their maintenance costs.
The Key Players of the Global Electric Two-Wheeler Market are Wuxi YADEA Export-Import Co., Ltd (China), Jiangsu Xinri E-Vehicle Co., Ltd (China), Vmoto Limited (Australia), GOVECS AG (Germany), Energica Motor Company S.p.A (Italy), China Zhongneng Vehicle Group Co., Ltd (China), Hero Electric (India), Niu International (China), Ampere Vehicles (India), and Zero Motorcycles, Inc. (US)
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The market can grow at a rate of 13.39% during the appraisal period.
As the market is abuzz with exciting trends and lucrative opportunities, it can rise to greater heights in the near future.
The top vendors in the worldwide market are Jiangsu Xinri E-Vehicle Co., Ltd(China), Ltd, 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),and more.
Europe was the second most profitable market in the year 2018
Mounting concerns with regard to rising carbon emissions, affordability of electric two-wheelers, and strict regulatory environment are boosting the adoption of green mobility vehicles, which can offer lucrative opportunities to the market players.
Electric motorcycle and electric scooter are the primary types analyzed in the report.