Electric Two-Wheeler Market – 2019 Global Industry Analysis By Size, Share, Key Countries, Growth Factors, Competitive, And Regional Forecast To 2023

Electric Two-Wheeler Market Analysis From 2019 To 2023 Report, Global Electric Two-Wheeler Market To Grow At moderate Growth Rate By 2023.

Pune, India - February 8, 2019 /MarketersMedia/ —

The factors that are responsible for the growth of Electric Two-Wheeler Market are The dire need for curbing carbon emissions has fueled the market expansion for electric two wheelers. The initiatives undertaken by the governments to reduce carbon footprint across the globe is the key driver of market growth. Electric Two-Wheeler Industry is segmented By Type (Electric Motorcycles and Electric Scooters), Battery Type (Sealed lead Acid, Li-ion, and Others), Voltage (36V, 24V, 48V, More than 48V) and Region.

The global electric two-wheeler market is dominated by major players such as Vmoto Limited (Australia), Hero Electric (India), Jiangsu Xinri E-Vehicle Co.,Ltd. (China), and Ampere Vehicles Private Ltd. (India). YO bykes (India), Yadea Tech. Group Co., Ltd. (China), F-wheel DYU (China), Hybike (China), Robstep (China), and Zero Motorcycles Inc. (U.S.) are among others.

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Global Electric Two-Wheeler Market Overview:

Electric two-wheelers are plug-in electric vehicles powered by electricity stored on board in a rechargeable battery used for driving of one or more electric motors. Electric two-wheelers have lower operating costs compared to the conventional ICE vehicles with performance alike. Also, these vehicles also help in saving costs related to fuel, spark plug change, and oil filter replacements coupled with their minimalistic design characteristics have resulted in low maintenance costs. Other factors favoring the market expansion are low maintenance cost, cost saving related to fuel, etc. The governments in many countries are promoting the embracement of electric two wheelers by imposing a tax on fuel vehicles, framing strict emission laws, subsidizing electric two wheelers, etc. which has catapulted the revenue generation of the market.  The innovations in battery industry are estimated to accelerate electronic two wheeler market over the next couple of years.

The advent of increased greenhouse and carbon emissions is expected to contribute to the adoption of electric scooters over the next years. E-transportation has become an eco-friendly alternative with growing pressure to reduce the carbon footprint across the globe. Factors such as an increase in fuel costs and maintenance of fuel-powered vehicles are expected to have positive impact on the industry growth. Over the past years, there has been an upsurge in the awareness of air quality and environmental concerns. Among the major growth strategies adopted by the various players, product development and new product launch account for the largest share. With the declining battery costs, new government targets for the introduction of e-mobility, and decent growth in renewable sector, manufacturers are focusing on product development with technological advancements in place. Owing to high purchasing power of consumers, sales of conventional two-wheelers running on fossil fuel powered engines has grown manifold. However, the governments of many countries are trying to bring down the pollution level by enforcing stricter emission norms, levying extra tax on the purchase of automobiles and providing special concession or subsidies for the purchase of electric two-wheelers. Thus, the governments are helping the growth of electric two-wheelers by offering special incentives to the manufacturers. For instance, in a country like China, the government offers a subsidy of close to US$ 600 to US$ 1,000 to every customer who purchases an electric two-wheeler. This incentive provided depends upon the size of the battery capacity, which powers the electric two-wheeler purchased.

Advancement in battery technologies is one of the key trends that will gain traction in the electric two-wheelers market over the coming years. For instance, improvements in Li-ion batteries have made electric two-wheelers, light in weight and increased their lifespan as compared to lead-acid and valve-regulated lead-acid (VRLA) batteries. Thus, growing concerns regarding the development of newer battery technologies with longer shelf life, among manufacturers of electric two-wheelers is anticipated to result in continuous research & development, which in turn is expected to boost the electric two-wheeler market.

Segments Analysis:

By type, the global electric two wheeler market has been segmented into electric scooters and electric motorcycles. The electric scooter segment held the most significant market share in 2016 due to its high demand in developing economies such as India, China, etc.

By battery type, the global market for electric two wheeler is segmented into sealed lead acid, Lithium-ion (Li-ion), and, others. Although sealed lead acid segment exhibited robust growth in the past due to low cost, but, overheating and bulkiness have led to a shift towards the adoption of Li-ion batteries. The Li-ion segment holds immense potential for growth over the next few years.

By voltage, the market is segment into 36V, 24V, 48V, and, more than 48V. The 48V and more than 48V segments are expected to garner more market share over the forecast period as high voltage levels of batteries open avenues for cost-effective hybridization of vehicles.

Regional Insights:

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific accounted for the largest share in 2017, owing to the regional growth in vehicle charging infrastructure in emerging countries such as China and Taiwan,. On the other hand, the electric vehicles industry in India is still at a nascent stage. Electric vehicles account for less than 1% of the total vehicle sales. However, they have a potential to grow to more than 5% in few years. At present, there are more than 400,000 electric two-wheelers on Indian roads, among which, more than 95% of electric vehicles are low-speed electric scooters, with a speed of less than 25km/hr. 

However, North America is expected to emerge as a prominent region over the forecast period, U.S. having a large number of early adopters of these vehicles due to various major manufacturers, such as Mahindra GenZe entering the market.

Table Of Contents

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter’s Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

Continued…

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