New York, NY, May 08, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Electric Two-Wheeler Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Motorcycle, Electric Scooter, Electric Kick Scooter, Others), By Motor Placement, By Motor Power, By Battery Type, By Region, Segments & Forecast, 2023 – 2032” in its research database.
“As per the latest research analysis, the global electric two-wheeler market size/share will be valued at roughly USD 6,505.65 Million in 2022, and its revenue is projected to reach about USD 45, 877.71 Million By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 21.74% between 2023 and 2032.”
What is the Expected Size & Share of Electric Two-Wheeler Industry? How Big is Electric Two-Wheeler Market?
- Overview
Electric two-wheelers are automated vehicles that are homogenous to gasoline-powered scooters or motorcycles, ruling out the fact that they exclusively function on battery power. The rapidly rising demand for the electric two-wheeler market can be attributed to the fact that it provides regulation procurement, and as they have nil local tailpipe discharge and are practically silent that they lessen air and noise pollution.
Technological progressions in the sphere of battery management systems are anticipated to push the demand for electric two-wheeler over the forecast period. Several tax advantages provided by the government and vendors are also another reason that is fuelling the demand for electric two-wheelers.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Yadea Group Holdings Ltd.
- Silence Urban Ecomobility
- NIU International
- Segway Inc.
- Hero Electric Pvt. Ltd.
- Okinawa Autotech Pvt. Ltd.
- Ather Energy Pvt. Ltd.
- AIMA Technology Co. Ltd.
- Ola Electric Mobility Pvt Ltd.
- Pure Electric
- Piaggio & C. SpA
- BMW North America LLC
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Key Growth Driving Factors
- Compact size: Electric bikes are flexible, adaptable, ecological, and fashionable modes of transport. Customers esteem them as a perfect reserve for smart cars, scooters, and public transportation. The electric two-wheeler market size is expanding as these bikes assist handle traffic obstruction due to the compact size of electric two-wheelers, achieve greater speed with minimal effort, and health advantages accomplished with peddling.
- Growth in fuel prices: Elements such as administration of government rules to inspire the usage of electric two-wheelers, customer propensity towards usage of e-bikes as an ecological and productive explanation for commuting, growth in fuel prices, and increase in cycling as a robustness and enjoyable venture is anticipated to drive the market growth.
- The rising cost of petrol: In several countries, the cost of petrol is extremely explosive and prone to alteration in the worldwide oil market rendering it strenuous for customers to forecast the long-term cost of operating a vehicle that is powered by petrol.
- Reducing the price of ownership: As more governments globally establish targets for lessening carbon emissions and escalating the acceptance of electric vehicles, supplementary inducements or grants may be obtainable to customers who select to buy EV two-wheelers. Electric two-wheeler market sales are soaring as these incentives can additionally lessen the price of ownership and render electric two-wheelers more appealing to customers.
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Top Report Findings
- As more governments globally establish targets for lessening carbon emissions and escalating the acceptance of electric vehicles, supplementary inducements or grants may be obtainable to customers who select to buy EV two-wheelers, thus pushing the market growth.
- The market is essentially divided into vehicle type, motor placement, motor power, battery type, and region.
- The leading region of the market in Asia Pacific
Top Trends Influencing The Market
- Low running prices: One of the prominent benefits of two-wheeler EVs is their low running prices. EVs need minimal maintenance than conventional gasoline-powered vehicles and nil fuel prices, rendering them an alluring alternative for assigned-conscious customers.
- Environmental benefits: There are notable ecological benefits. They generate nil tailpipe emissions lessening air contamination and enhancing air quality in urban regions. It can notably impact public health, particularly in regions with escalated levels of air contamination.
- Ease of use: Another benefit of EVs is their easy operation. They are generally more compact and lightweight than conventional vehicles rendering them simple to move through traffic-led city streets and park in compressed spaces. It can be particularly advantageous in urban regions where traffic and parking are prominent confrontations.
Segmental Analysis
- The electric motorcycle segment is accounted to witness a considerable CAGR
Based on vehicle type, the electric motorcycle segment is accounted to witness a considerable CAGR. Electric two-wheeler market demand is on the rise due to the increasing demand for ecological transit alternatives. As most customers are gaining consciousness, they are focusing on methods to lessen the carbon footprint, and electric motorcycles provide a fabulous option to conventional gasoline-powered bikes.
- The Hub motor segment is projected for the speediest growth rate
Based on motor placement, the hub motor segment is projected for the speediest growth rate. Electric two-wheeler market trends include enhanced technology, superior productivity, and intelligible design. Motor technology progressions have rendered hub motors more effective, dependable, and accessible. Current hub motors are frequently more compact and lightweight than their precursors and provide more power and enhanced performance.
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Electric Two-Wheeler Market: Report Scope & Coverage
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 45,877.71 Million |
| Market size value in 2023 | USD 7,812.64 Million |
| Expected CAGR Growth | 21.74% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Yadea Group Holdings Ltd., Silence Urban Ecomobility, NIU International, Segway Inc., Hero Electric Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ather Energy Pvt. Ltd., AIMA Technology Co., Ltd., Ola Electric Mobility Pvt Ltd., Pure Electric, Piaggio & C. SpA, BMW North America, LLC |
| Segments Covered | By Vehicle Type, By Motor Placement, By Motor Power, By Battery Type, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Asia Pacific: This region held the largest electric two-wheeler market share due to the promotion of charging skeleton in the previous years, along with many government strategies such as FAME II and other motivations that have escalated the production figure of vehicles. Further, the growing air contamination anxieties and enhancement in EV vehicles have attracted customers in this viable mobility alternative.
Browse the Detail Report “Electric Two-Wheeler Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Motorcycle, Electric Scooter, Electric Kick Scooter, Others), By Motor Placement, By Motor Power, By Battery Type, By Region, Segments & Forecast, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/electric-two-wheeler-market
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Recent Developments
- January 2023: Hero Electric has partnered with Maxwell Energy Systems, which will supply more than ten lakh units of battery management systems (BMS) for the next three years. The partnership will enable the company to reduce import dependency and support the Make in India mission.
- December 2022: Yadea Group Holdings Ltd. has announced its national dealership promotion plan as part of its goals for worldwide expansion and recruited regional agents and distributors in the United States.
Frequently Asked Questions
- Who are the key companies in the market?
- What is the CAGR estimated to be calculated for the market?
- What are the key segments covered?
- What are the key driving factors in the market?
- What will be the market value estimated by the end of the forecast year?
- What are the upcoming trends in the market?
- Which region is and will provide more business opportunities in the market?
Polaris Market Research has segmented the electric two-wheeler market report based on vehicle type, motor placement, motor power, battery type and region:
By Vehicle Type Outlook
- Electric Motorcycle
- Electric Scooter
- Electric Kick Scooter
- Others
By Motor Placement Outlook
- Hub Motor
- Frame-mounted Motor
By Motor Power Outlook
- 48V
- 60V
- 72V
- Others
By Battery Type Outlook
- Lithium-Ion
- Lead-acid
- Lithium iron phosphate
- Others
By Region Outlook
- North America (U.S, Canada, Mexico)
- Asia-pacific (China, Japan, India, Australia, Rest of Asia- pacific)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- LAMEA (Latin America, Middle East & Africa)
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