According to the latest report by IMARC Group “Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global electric two-wheeler market reached a value of US$ 31.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 66.1 Billion by 2027, exhibiting at a CAGR of 13.5% during 2022-2027.
Electric two-wheelers comprise motorcycles, mopeds and scooters that are operated via battery-based electric motors. They are eco-friendly alternatives to gasoline-powered vehicles as they generate zero carbon emissions. They assist in enhancing fuel efficiency and reducing the overall maintenance cost. At present, they are gaining traction across the globe on account of their economic and ecological benefits.
Market Trends:
There is currently a significant increase in the demand for eco-friendly personal vehicles due to the growing environmental concerns. This represents one of the primary factors favorably influencing the growth of the market. Besides this, governing agencies of several countries are implementing stringent regulations and offering tax rebates and subsidies to promote the adoption of electric vehicles (EVs). This, in confluence with the increasing adoption of electric two-wheelers by e-commerce companies for providing postal and delivery services, is fueling the growth of market growth. Furthermore, the rising installation of electric vehicle charging stations is projected to boost the sales of electric two-wheelers.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AIMA Technology Co. Ltd.
- Ampere Vehicles Pvt. Ltd.
- BMW AG
- Energica Motor Company S.p.A.
- GOVECS AG
- Hero Electric Vehicles Pvt. Ltd.
- Mahindra GenZe
- Terra Motors Corporation
- Vmoto Limited
- Yadea Technology Group Co. Ltd.
- and Zero Motorcycles
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Vehicle Type:
- Electric Scooter/Moped
- Electric Motorcycle
Breakup by Battery Type:
- Lithium-Ion
- Sealed Lead Acid (SLA)
Breakup by Voltage Type:
- <48V
- 48-60V
- 61-72V
- 73-96V
- >96V
Breakup by Peak Power:
- <3 kW
- 3-6 kW
- 7-10 kW
- >10 kW
Breakup by Battery Technology:
- Removable
- Non-Removable
Breakup by Motor Placement:
- Hub Type
- Chassis Mounted
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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