Market Research Report
Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: August 2, 2021
IMARC Services Private Limited
Content info: 148 Pages
Delivery time: 2-3 business days
The global electric two-wheeler market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 10% during 2021-2026. Electric two-wheelers, primarily comprising of scooters/mopeds and motorcycles, operate with the help of battery-based electric motors. These vehicles have gained popularity as an eco-friendly alternative to gasoline-powered vehicles owing to their zero carbon emissions. The global electric two-wheeler market is majorly driven by the growing environmental concerns towards increasing pollution levels from fuel-based automobiles. In addition to this, the high depletion rate of fossil fuels, such as diesel, petrol, etc., coupled with the rising fuel rates have also augmented the demand for electric vehicles. The growing consumer awareness towards several economic and ecological benefits of electric vehicles have also catalyzed the market growth.
The introduction of various government initiatives and awareness programs for curbing the rising CO2 emission levels has provided strong growth opportunities to the market. Moreover, electric two-wheeler fleets are increasingly being used by courier and e commerce delivery companies, for providing postal and delivery services, thereby increasing the market penetration. Furthermore, increasing installation of electric vehicle charging stations in several commercial places, such as shopping malls, educational institutes, etc., has also catalyzed the market growth. Some of the other key factors driving the market include technological advancements, increasing affordability, improving supply chains, etc.