The global electric two-wheeler market size reached US$ 35.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028.
Electric two-wheelers are lightweight and self-operating automobiles, which are powered by an integrated electric motor or a rechargeable battery. They are portable, versatile, durable, cost-effective, fuel-efficient, and an eco-friendly alternative to other modes of transportation. Nowadays, compact versions of electric two-wheelers are gaining immense traction worldwide as they enable users to avoid traffic jams and commute short distances at higher speeds.
Electric Two-Wheeler Market Trends:
- The escalating demand for fuel-efficient and cost-effective commute options, coupled with the growing environmental concerns about increasing pollution levels, represents one of the key factors positively influencing the sales of electric two-wheelers around the world. In line with this, rising awareness among individuals about the harmful greenhouse gas (GHG) emissions from gas and fuel-operated automobiles, in confluence with the surging rates of petrol and diesel, are contributing to the market growth. Apart from this, as electric two-wheelers can be powered via unconventional power sources, such as solar panels, various initiatives undertaken by governments of several countries to promote the use of electric vehicles (EVs) through tax rebates and subsidies are bolstering the market growth. This can also be attributed to the increasing installation of EV charging stations at several commercial places, such as shopping malls and educational institutes. Besides this, the rising adoption of electric two-wheelers by logistics companies to provide quick and convenient postal and delivery services, along with the thriving e-commerce industry, is anticipated to offer lucrative growth opportunities to key industry players.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global electric two-wheeler market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on vehicle type, battery type, voltage type, peak power, battery technology and motor placement.
Breakup by Vehicle Type:
- Electric Scooter/Moped
- Electric Motorcycle
Breakup by Battery Type:
- Sealed Lead Acid (SLA)
Breakup by Voltage Type:
Breakup by Peak Power:
- <3 kW
- 3-6 kW
- 7-10 kW
- >10 kW
Breakup by Battery Technology:
Breakup by Motor Placement:
Breakup by Region:
- Asia Pacific
- South Korea
- United Kingdom
- North America
- United States
- Latin America
- Middle East and Africa
- Saudi Arabia
- The competitive landscape of the industry has also been examined with some of the key players being AIMA Technology Co. Ltd., Ampere Vehicles Pvt. Ltd., BMW AG, Energica Motor Company S.p.A., GOVECS AG, Hero Electric Vehicles Pvt. Ltd., Mahindra GenZe, Terra Motors Corporation, Vmoto Limited, Yadea Technology Group Co. Ltd., and Zero Motorcycles, Inc.
- Key Questions Answered in This Report
- 1. What was the size of the global electric two-wheeler market in 2022?
- 2. What are the key factors driving the global electric two-wheeler market?
- 3. What has been the impact of COVID-19 on the global electric two-wheeler market?
- 4. What is the breakup of the global electric two-wheeler market based on the vehicle type?
- 5. What is the breakup of the global electric two-wheeler market based on the battery technology?
- 6. What are the key regions in the global electric two-wheeler market?
- 7. Who are the key players/companies in the global electric two-wheeler market?