According to a report by TechSci Research, the global electric two-wheeler market was valued at USD 10,629.17 million in 2020 and is expected to reach USD 26,476.81 million by 2026, growing steadily at a CAGR of 14.08% during the forecast period. This growth can be attributed to the rising demand for emission-free two-wheelers and increasing environmental concerns. Electric two-wheelers, which are divided into motorcycles and scooters, are plug-in electric vehicles that have no more than two wheels and are powered solely by a zero-emissions electricity source.
The market growth over the next five years will also be driven by a growing number of participants, ongoing research and development to create more efficient electric two-wheelers with shorter charging times and longer ranges, as well as increased environmental and health concerns, growing manufacturing, rising demand for emission-free two-wheelers, lower running and maintenance costs, and greater government support for electric vehicles worldwide. However, the market faces some primary challenges that limit its growth, including high battery replacement costs, a shortage of skilled mechanics, limited range, inadequate electric two-wheeler charging infrastructure, and a lack of awareness.
Browse over 182 market data Figures and spread through 110 Pages and an in-depth TOC on “Global Electric Two-Wheeler Market“
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According to the TechSci Research report, the global electric two-wheeler market is divided based on vehicle type, range, battery capacity, battery type, region, and competitive landscape. Scooter/Mopeds accounted for the dominating market share of 89.66% in 2020. This is due to their lightweight, good maneuverability, lower prices, and less charging time. In the next few years, the motorcycle segment is expected to be the fastest-growing segment due to the increasing research and development in electric motorcycles.
In terms of range, the market is fragmented into Less than 50Km, 50-100Km, 101-150Km, and Above 150Km. The majority of electric two-wheelers sold in 2020 had a range of 50-100Km, followed by 101-500Km. The segment of electric two-wheelers with a range above 150Km is expected to be the fastest-growing segment in the next five years.
Based on battery capacity, the market is bifurcated into >25Ah and <25Ah, with <25Ah holding the commanding share of 83.83% in 2020. This is because most electric two-wheeler manufacturers produce electric motorcycles with a battery capacity of <25Ah.
The market is further divided based on battery type into Lead Acid and Li-ion. Lead Acid accounted for the dominating market share of 84.87% in 2020 due to its low cost and long-standing history.
Region-wise, the market is fragmented into APAC, Europe, Americas, and Rest of the World, with the APAC region dominating the market. China accounted for the highest sales of electric two-wheelers in the world in 2020, with a market share of over 95%. This trend is expected to continue in the forthcoming years due to the region’s population density, industries, universities, airports, ports, and preference for traveling by two-wheelers.
Key market players in the electric two-wheeler market include :
- Niu International
- Yadea Technology Group Co.,Ltd.
- Jiangsu Xinri E-Vehicle Co.,Ltd.
- Viar Motor Indonesia
- Zero Motorcycles, Inc.
- Honda Motor Company Ltd.
- Deco Green Energy CO. LTD
- Hero Electric Vehicles Pvt. Ltd.
- Okinawa Autotech Pvt. Ltd.
- Ampere Vehicles Private Limited
Global electric two-wheeler market is fragmented with a lot of well-established players having presence in several countries. Niu International, Yadea Technology Group Co.,Ltd., Jiangsu Xinri E-Vehicle Co.,Ltd, Viar Motor Indonesia, Zero Motorcycles, Inc., Honda Motor Company, Ltd, Deco Green Energy CO., LTD., Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ampere Vehicles Private Limited have dominating presence in global electric two-wheeler market.
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“APAC holds the largest revenue shares of 97.52% in the market and is anticipated to be leading region in the upcoming market on the account of availability of well-established electric two-wheeler industry. Furthermore, the market’s growth is being aided by the quick increase in research and development in the field, as well as the increasing environment concerns. New market players are advised to invest and focus on the research and development of the electric two-wheelers and services for the brand establishment. Collaborations and regulated deals with the established market players would help the prospects of the new market player,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Electric Two-Wheeler Market – Global Industry Size, Share, Trends, Segmented By Vehicle Type (Scooter/Mopeds, Motorcycle), By Range (Less than 50Km, 50-100Km, 101-150Km, Above 150Km), By Battery Capacity (<25Ah, >25Ah), By Battery Type (Lead Acid, Li-ion), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global electric two-wheeler market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global electric two-wheeler market.
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