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Electric two-wheeler Market Overview
Electric Two-Wheeler Market size is projected to grow from 1 Mn units in 2021 to 1.55 Billion units by 2030, registering a CAGR of 34.57% during the forecast period (2022 – 2030).
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The Global Market for Electric Two-Wheeler is expected to witness rapid growth during the forecast period. Asia-Pacific is expected to dominate in the electric two-wheeler market owing to the presence of China, India, and Japan. The developing countries in the region are recognized as the leading countries for electric two-wheelers and electric two-wheeler parts in the global market. Moreover, demand for electric two-wheelers among tourists drives the market during the forecast period. China is one of the significant producers of electric two-wheeler in Asia-Pacific. In 2018, China’s Development and Reform Commission announced a new USD 47 billion fund, which supports the development of electric vehicles (EV) technologies. The companies in the country aim to reduce the costs of the electric two-wheeler to meet the demand from both domestically and internationally.
In 2018, Europe held the second largest market share in the global electric two-wheeler market. The constant efforts by the government to reduce the gas emission are expected to fuel the demand for electric two-wheelers in the region during the forecast period. Efforts taken by the domestic manufacturers to design lighter and more energy efficient two-wheeler solutions for the consumers.
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Major Key Market 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)
and Zero Motorcycles
Inc. (US).
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Segmentation
The Global Electric Two-Wheeler Market is segmented based on Type, Battery Type, and Voltage. On the basis of type the electric two-wheeler market is segmented into electric motorcycle and electric scooter. The electric scooter segment held the largest market share in 2018 as electric scooter is widely used.
By Battery Type:
the global electric two-wheeler market is segmented as sealed lead acid, lithium-ion, and other. The sealed lead acid segment accounted for the largest market share in 2018. Moreover, these batteries are cost-effective than the other types of and known as “maintenance free” batteries, are low maintenance and rechargeable sealed lead acid batteries. The sealed lead acid batteries are available in all shapes, voltages, amperages and sizes. sealed lead acid batteries are called “sealed” because they normally do not allow for the addition or loss of liquid. Such factors are expected to drive the growth of the sealed lead acid segment during the forecast period.
Industry Updates:
May 2021- Ola is all set to sale e-scooter to international markets this fiscal.
May 2021- An Italian company, Benelli has launched a new electric scooter, Dong which is small and has a unique design.
April 2021- Gogoro, a Taiwanese electric scooter maket has joined hands with Hero MotoCorp in India to offer its battery-sharing infrastructure in the largest motorcycle market in the world.
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North America is among the leading regions in the electric two-wheeler market, especially due to the government initiatives for adopting electric vehicles. The increasing focus of leading electric two-wheeler manufacturers towards developing technologically advanced products with better performance and price competitiveness is expected to drive the demand for electric two-wheelers during the forecast period. Moreover, the presence of various established as well as emerging electric two-wheeler manufacturers, such as BOXX Corp., ZEV, and Unagi Scooters, in the region is estimated to increase the production and export capabilities in the region during the forecast period.
Synopsis:
The Global Electric Two-Wheeler Market has been segmented on the basis of Type, Battery Type, Voltage, and Region. On the basis type, the global electric two-wheeler market is segmented into an electric motorcycle and electric scooter. The electric scooter segment is expected to dominate the market, due to these vehicles helps to save costs related to fuel, spark plug change, and oil filter replacements coupled with their minimalistic design characteristics, which reduces their maintenance costs.
Market Introduction
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 List Of Assumptions 15
2.4 Market Structure 16
2.5 Market Attractive Analysis 16
2.6 Global Electric Two-Wheeler Market, By Type 17
2.7 Global Electric Two-Wheeler Market, By Battery Type 18
2.8 Global Electric Two-Wheeler Market, By Voltage 19
2.9 Key Buying Criteria 19
Research Methodology
4.1 Research Process 22
4.2 Primary Research 23
4.3 Secondary Research 24
4.4 Market Size Estimation 25
4.5 Forecast Model 25
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