Electric two-wheeler Market 2018
Global Electric two-wheeler Market Information Report, by Battery type (Sealed lead Acid, Li-ion, Ni-MH), By Product (Retro, Standing/ self-Balancing, Folding), By Technology (Plug-in based, Battery-based), By Type (Electric Motorcycle, Electric Bicycle, Electric Scooter) and By Region – Forecast To 2023
Electric two-wheelers are plug-in electric vehicles that can be recharged from an external source of electricity. The electricity stored on board in a rechargeable battery is capable of supplying power to one or more electric motors for attaining locomotion.
The global electric two-wheeler market is majorly driven by the increase in the prices of fuel. The prices of crude oil are increasing very rapidly, with the availability of the crude oil decreasing day by day. Due to these factors, the mindset of the population is shifting their preference towards electric two-wheelers. Also, the developing nations such as China, India, Thailand, and Indonesia, among others are becoming manufacturing hubs for global automotive players. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for electric two-wheelers such as an electric motorcycle, electric bicycle and electric scooter will also rise. The surge in demand for electric two-wheelers worldwide with the increase in the environmental awareness and the various government initiatives undertaken for promoting the electric vehicle adoption drive the growth of the electric two-wheeler market.
The global electric two-wheeler market has seen remarkable growth in the global market, and it has been observed that its demand in future is expected to grow with the CAGR of ~5%.
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Based on the Battery type, the global electric two-wheeler market has been segmented as sealed lead acid, Li-ion and Ni-MH. Amongst these, Li-ion segment is expected to dominate the growth of the market. The lithium-ion batteries possess superior energy, power density and superior cycling ability. The Li-ion battery is considered a core technology for EV applications as they are lightweight and have a high energy density, high power, long life, low self-discharging rate, and wide temperature range. However, the disadvantages of Li-ion batteries are their high cost and safety concerns. These batteries also provide a wide range of advantages such as high energy storage, good cycle life, high energy efficiency and high unit cell voltage.
Geographically, the global Electric two-wheeler market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to dominate the global electric two-wheeler market. The presence of China, Japan and South Korea, is one of the major factors driving the electric motorcycle and scooter market. China is the largest market for an electric two-wheeler. Since 2015, the sales have grown massively in China. However, it has created ample scope for the automakers to cover the region. Moreover, the major automakers have decided to initiate the electric vehicle production in India as well. This decision has been quite a profitable as the government has also taken various steps to make more investment in these countries.
The prominent players in the Electric two-wheeler Market include Accell Group (Netherlands), Vmoto Limited (Australia), NYCeWheels (U.S.), Derby Cycle AG (Germany), Easy Motion USA (California), Moustache Bikes (France), Jiangsu Xinri E-Vehicle Co (China), myStromer AG (Switzerland), Karbon Kinetics Limited (U.K.) and Pedego Electric Bikes (California) among others.
The report for Global Electric two-wheeler Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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