Electric Two-Wheeler Market Research Report - Global Forecast till 2030

Electric Two-Wheeler Market Research Report: Information by Type (Electric Motorcycle and Electric Scooter), Battery Type (Sealed Lead Acid, Lithium-Ion and others), Voltage (24V, 36V, 48V and More than 48V) and Region - Forecast till 2030

ID: MRFR/AM/4010-CR | January 2020 | Region: Global | 188 pages

Electric Two-Wheeler Market

Electric Two-Wheeler Market size is expected to expand from 1 million units in 2021 to 1.55 billion units by the end of the year 2030, at a compound annual growth rate of a CAGR of 34.57% between 2022 - 2030

Segmentation

By Type Electric Motorcycle Electric Scooter
By Battery Type Sealed Lead Acid Lithium-Ion others
By Voltage 24V 36V 48V More than 48V

Key Players

  • 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)

Drivers

  • The demand from both domestically and internationally
  • The addition or loss of liquid
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Electric Two-Wheeler Market Overview


The global electric two-wheelers market size is expected to expand from 1 million units in 2021 to 1.55 billion units by the end of the year 2030, at a compound annual growth rate of a CAGR of 34.57% between 2022 - 2030.


As governments worldwide spend on charging stations and give benefits to customers, OEMs have the opportunity to extend their business and regional reach. China and other Asian countries are expected to expand their markets steadily for fuel-efficient and pollution-free electric scooters. However, North America's industry for electric scooters is forecast to expand at the quickest rate due to federal efforts and a burgeoning excellent performance E-Motorcycle sector in North America. But the absence of charging points, heavy investment prices, and performance limitations might impede the global electric two-wheeler market shortly.


This report contains all the information on the global electric two-wheelers market analysis and research and the market strengths. The report also contains dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global electric two-wheelers market forecast to 2030 is also included in the report.


Covid 19 Analysis


Electric vehicles are a kind of plug-in vehicle with two or three wheels, such as a motorbike or a scooter. Because they are small and light, such cars can drive through packed streets fast. Swappable or detachable batteries allow them to be recharged inside and are readily interchangeable. Electric two-wheelers are made in large quantities in China. To accommodate the increased demand for electric two-wheelers, manufacturers are lowering their pricing.


As a consequence of this, lockdowns have been established throughout the world to limit the transmission of COVID-19. As a result of these shutdowns, factories and other enterprises have been forced to close temporarily, which has hurt the profits of electric two-wheelers throughout the world. Future product introductions have been hampered due to production holdups, limiting the market's development.


Market Dynamic



  • Drivers


The rising costs of petroleum goods are driving electric scooters and motorcycles. The rising cost of gasoline has already impacted consumers in developing nations. The running costs of two-wheeled electric cars will be significantly reduced. Such two-wheelers outperform more traditional models in terms of efficiency. Shortly, companies are likely to produce electric scooters and motorbikes with longer ranges than those available now. Servicing is also not an issue since there are minimal moving components than an average two-wheeler. The battery has to be changed the most often, yet that is the most expensive part of maintenance.



  • Opportunities


Government measures and public awareness campaigns aimed at slowing the rise of CO2 emissions have opened up new business prospects. Furthermore, couriers and e-commerce transport businesses are rapidly using electric two-wheeler fleets to provide postal and logistics services, expanding electric two-wheelers market growth. In addition, an increase in the number of supercharger stations for electric vehicles has been installed in various commercial locations, such as shopping centers and educational institutions. The most critical factors contributing to the growth are technological progress, rising affordability, and better supply chains.



  • Restraints


The absence of charging infrastructure will be the most significant obstacle to expanding the electric scooter and motorbike sector. The ease with which an electric two-wheeler may be recharged at any moment and in any location is the most crucial consideration for every prospective buyer before making a purchase.



  • Challenges


Even though electric two-wheelers use less energy than traditional two-wheelers, these vehicles' implementation and quality criteria have not been met. Unattractive design and subpar functionality are two of the main obstacles to this market's path to success.



  • Cumulative Growth Analysis


It's no surprise that the electric two-wheeler market value in North America is one of the fastest-growing worlds. Production of electric two-wheelers is likely to grow throughout the forecast timeframe as top electric producers concentrate on producing technically sophisticated models with increased effectiveness and affordability. As a result, electric two-wheeler producers, including ZEV, BOXX Corp., and Unagi Scooters, are expected to positively impact the region's manufacturing and trade capacity throughout the projection period.



  • Value Chain Analysis


This report categorizes the worldwide electric two-wheeler market according to the kind of two-wheeler sold, the battery type used, and the voltage used. The electric two-wheeler industry is divided into two types: motorcycles and scooters. Due to their widespread usage, electric scooters commanded the most significant market share in 2018.


The worldwide electric two-wheeler industry is split into lithium-ion, sealed lead acid, and other battery types. For the first time in 2018, the sealed lead acid sector accounts for the highest proportion of the overall market. There are various forms, voltages, amps, and sizes for sealed lead-acid batteries. Liquid cannot be added or removed from sealed lead-acid batteries. Thus the name sealed. The sealed lead acid sector is predicted to develop throughout the forecast timeframe due to these reasons.


The electric two-wheeler market outlook is divided into four categories based on voltage: 24V, 36V, 48V, and more than 48V. In 2018, the 48V sector accounted for the most revenue. The 48V category is predicted to increase rapidly due to rising consumer demand for fast, high-capacity, and light-weight two-wheelers in the worldwide market for electric two-wheelers.


Segmentation Overview


The market is segmented based on the kind of two-wheeler sold, the battery type, the voltage used, and the regions. The global electric two-wheeler market trend is expected to witness decent growth during the forecast period.


By Application


The market is segmented into lithium-ion, sealed lead acid, and other battery types based on the application.


By end-users


The market is segmented into motorcycles and scooters based on the propulsion types.


Regional Analysis


Electric two-wheelers are likely to increase at a high pace in the following years. The electric two-wheeler industry is forecasted to dominate China, India, and Japan in the Asia-Pacific region. Electric two-wheelers and electric two-wheeler components are the most popular products in the worldwide market from the emerging nations in the area. The electric two-wheeler market is also expected to be driven by visitor numbers over the projected period. In the Asia-Pacific region, China is a major manufacturer of electric two-wheelers. With a newly USD 47 billion budget established by China's Reform and Development Commission in 2018, EV innovations will be supported. To fulfill the growing demand for electric two-wheelers both locally and globally, the government's firms are working on cutting the price of these vehicles.


Europe had the 2nd most significant proportion of the worldwide electric two-wheeler market in 2018. Production of electric two-wheelers will rise due to government initiatives to minimize gas emissions in the area during the next several years. Local manufacturers' efforts to produce lighter, more energy-efficient two-wheeler alternatives for customers. Electric two-wheeler' minimal maintenance and supportive regulatory environments and the increasing fear over rising carbon emissions are likely to boost the use of sustainable mobility vehicles and generate profitable prospects for the industry's key players.


Competitive landscape


Initiatives in long-term R&D are likely to deliver strong growth over the predicted period. The stated goals of decarbonizing the transportation system may be achieved via the electrified of the automobile sector.


Major Key Players



  • 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)

  • Zero Motorcycles, Inc. (US).


Report Overview


The following report comprises of –



  • Market overview

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis


Segmentation Overview



  • By Application

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments


For the fiscal year ending in May 2021, Ola plans to begin selling e-scooters in overseas markets.


Electric scooter maker Gogoro has teamed up with Hero MotoCorp in India, which is the world's biggest motorbike market, to provide its battery-sharing network.


Based on the vehicle type:



  • E-Scooter/Moped

  • E-Motorcycle


Based on the battery type:



  • Sealed lead acid

  • Lithium-ion


Based on the distance covered:



  • Below 75 miles

  • 75-100 Miles

  • Above 100 Miles


Based on the technology:



  • Plug-in

  • Battery


Based on the voltage:



  • 36V

  • 48V

  • 60V

  • 72V


Based on the vehicle class:



  • Economy

  • Luxury


Based on the region:



  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Taiwan



  • North America

    • US

    • Canada

    • Europe

    • France

    • Germany

    • Italy

    • Spain



  • United Kingdom

    • Austria

    • Belgium

    • Netherlands

    • Poland

    • Denmark





Report Scope:
Report Attribute/Metric Details
  Market Size   2030: 1.55 Billion units
  CAGR   34.57% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Battery Type and Voltage
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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)
  Key Market Opportunities   The demand from both domestically and internationally
  Key Market Drivers   The addition or loss of liquid


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Frequently Asked Questions (FAQ) :

The market can grow at a rate of 34.57% 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.