Electric Two-wheelers Market By Vehicle Type (E-Scooter and E-Motorcycle), By Battery Type (Sealed Lead-acid and Lithium-ion), By Technology (Plug-in Electric Two-wheeler and Battery Electric Two-wheeler), By Battery Voltage (24V, 36V, 48V and More than 48V) - Growth, Future Prospects and Competitive Landscape, 2019 – 2027

"Carbon Footprint Regulations as well as Advanced Batteries & Motors to Amplify Electric Two-wheelers Demand"

The global electric two-wheelers market was valued at US$ 12.72 Bn in 2018 and expected to witness a notable growth, expanding at CAGR of 8.17% during the forecast period from 2019 to 2027. Technological advancements in automotive field coupled with need for carbon emission control have paved the way for electric vehicles thereby stimulating the demand for electric two-wheelers. Electric two-wheelers accounted for major share in overall electric vehicles market worldwide in 2018. Rise in use of Lithium-ion (Li-ion) batteries by electric two-wheeler manufacturers owing to their low self-discharge, low maintenance, lightweight and fast charging capability is the key factor driving the market growth. Furthermore, tax imposition on fuel two-wheelers, subsidies offered on electric two-wheelers and strict emission norms being framed by various national governments are major factors propelling regional market growth. Electric two-wheelers offer key benefits such as low fuel cost, low maintenance cost and low operating noise among others. Such advantages further accelerate market growth and revenue generation. 

Continuous innovations in battery industry to develop advanced battery systems, which are more compact, support quick charging and have more cycleability is projected to drive electric two-wheelers market during forecast period. For instance, engineers at Nanyang Technological University in Singapore announced to develop new Li-ion battery that takes 5 minutes for complete charging along with 10,000 charge cycles and can successfully last for approximately 1.5 Mn KMs of vehicle running. Similarly, organizations are aiming to develop better electric motors that efficiently work under higher loads and conserve battery power at the same time. For instance, Siemens announced a new electric motor with integrated inverter in motor housing. This arrangement converts DC output of battery to AC before supplying it to the motor for optimum usage. Currently under development stage, such innovations can turn the tables for electric two-wheelers market growth. 

Market Snapshot 

Electric Two-wheelers Market

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"E-Scooters accounted for the Largest Market Share in 2018"

As of 2018, global electric two-wheelers market was dominated by electric scooters.  Electric scooters are available at much lower cost than electric motorcycles in the market. Growing female consumer base, wide popularity among teenagers and relatively simpler maintenance are key factors contributing to e-scooters market domination. Apart from this, rapid deployment of public charging infrastructure in remote areas is expected to contribute significantly in electric scooters market growth across the forecast period. However, electric motorcycles are projected to have higher growth rate and more market penetration during forecast period owing to advancement in lithium-ion batteries and reduced cost of the same. 

Electric Two-wheelers Market

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"Asia Pacific Garnered Largest Market Share in 2018"

Based on geography, the global electric two-wheelers market was led by Asia Pacific in 2018 and is likely to continue its domination throughout the forecast period. Growth of this region is mainly accredited to the shift of emerging economies such as China, Taiwan and India towards e-vehicles. China manufactures majority of electric two-wheelers in Asia Pacific and remains the primary contributor in revenue generation of this region. Extensive government initiatives to reduce & control environmental pollution, health hazards and premature death rate caused by air pollution help propelling electric two-wheelers market in China. However, in India, the electric two-wheelers market is growing at a steady pace. In order to increase the market penetration of electric vehicles, Government of India has launched several schemes that offer subsidies & incentives on electric vehicles and development of public charging infrastructure. For instance, Faster Adoption of (Hybrid &) Electric Vehicles in India [FAME–India] scheme promotes electric mobility in India by incentivizing electric vehicle production. Such supportive schemes are expected to increase electric two-wheelers market growth across the region. 

Electric Two-wheelers Market

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Competitive Insights

Electric two-wheelers manufacturers are adopting strategies like new product development through technological advancements, competitive pricing, geographic expansion and mergers & acquisitions to cater the needs of their customers and gain competitive advantage over other players in market. Key players in the electric two-wheelers market include Zero Motorcycles, Inc., F-wheel DYU, Jiangsu Xinari E-vehicle Co., Ltd., YO bykes, Hero Electric, Hybikes, Yadea Tech. Group Co., Ampere Vehicles Private Ltd., Vmoto Ltd., Energica Motor Company, Sanyang Industry, Zhejiang Luyuan Electric Vehicle, Guangzhou Camqi Electric Vehicle and Alta Motors among others. 

Electric Two-wheelers Market

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compound Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

Electric Two-wheelers market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global electric two-wheelers market based on vehicle type, battery type, technology, battery voltage and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 Vehicle Type Segment (2017-2027; US$ Bn)
 • E-Scooter
 • E-Motorcycle

 Battery Type Segment (2017-2027; US$ Bn)
 • Sealed Lead-acid
 • Lithium-ion (Li-ion)

 Technology Segment (2017–2027; US$ Bn)
 • Plug-in Electric Two-wheeler
 • Battery Electric Two-wheeler

 Battery Voltage Segment (2017–2027; US$ Bn)
 • 24 V
 • 36 V
 • 48 V
 • More than 48 V

 Geography Segment (2017-2027; US$ Bn)
 • North America (U.S., Rest of North America)
 • Europe (U.K., Germany, France, Rest of Europe)
 • Asia Pacific (Japan, China, India, Rest of APAC)
 • Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of electric two-wheelers in 2018 and forecast up to 2027?
  • What are the key factors driving the global electric two-wheelers market?
  • What are the key market trends and high-growth opportunities observed in the electric two-wheelers market?
  • Which is the largest regional market for electric two-wheelers market?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market growth? Why?
  • Which players are leading the electric two-wheelers market?
  • What are the sustainability strategies adopted by the key players operating in the market?
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Published Date:  Jun 2019
Category:  Technology & Media
Report ID:   59737
Report Format:   PDF
Pages:   120
Rating:    4.4 (56)
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