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Report provides Electric Two Wheeler Global Market Historic, Forecast data, business development strategies, SWOT analysis, And Key Company Insights with forecast to 2023. Asia Pacific is poised to lead the Global Electric Two Wheeler Market over the Forecast Period 2018 to 2023. The market for electric two wheelers in India is at a nascent stage. Presently, there are more than 400,000 electric two-wheelers on Indian roads, 95% of which are low-speed electric scooters having a speed limit of less than 25km/hr.The key players profiled by MRFR in its report for a deeper understanding of the market include Vmoto Limited (Australia), Jiangsu Xinri E-Vehicle Co., Ltd. (China), YO bykes (India), F-wheel DYU (ChinaRobstep (China), Zero Motorcycles Inc. (U.S.), Hero Electric (India), Ampere Vehicles Private Ltd. (India), Yadea Tech. Group Co., Ltd. (China), and, ), Hybike (China), among others. The strategies developed and employed by the prominent players for strengthening their footholds in the market are product development, technological advancements, competitive pricing, mergers & acquisitions, etc.
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Market Highlights:
The report for Global Electric Two Wheeler Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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. 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.
Market Segments Analysis:
Based on type, the market is segmented as electric scooters and electric motorcycles. During 2016, the electric scooters market segment accounted for the largest market share, owing to factors such as the increased sales of scooters in developing countries such as India and China. Also, growth in technological innovations coupled with stringent environmental regulations across the globe is anticipated to contribute in the growth of the electric two-wheeler market in the forecast period.
On the basis of battery type, the market segments are sealed lead acid, Li-ion and others. Until the past few years, sealed lead acid batteries were used due to their benefits such as robustness and low costs. However, overheating and bulkiness of these batteries due to charging are some of the disadvantages, which make them discharge quickly even without handling heavy loads. On the other hand, with improved efficiency and advantages of lithium-ion battery packs, electric two-wheeler manufacturers are gradually switching to them. Due to this, li-ion is estimated to account for a larger share in the years to come.
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 Analysis:
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.
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List of Tables:
TABLE 1 GLOBAL ELECTRIC TWO WHEELER MARKET, BY VEHICLE TYPE, 2014-2023 (USD MILLION)
TABLE 2 GLOBAL ELECTRIC TWO WHEELER MARKET, BY COMPONENTS, 2014-2023 (USD MILLION)
TABLE 3 GLOBAL ELECTRIC TWO WHEELER MARKET, BY REGION, 2014-2023 (USD MILLION)
TABLE 4 NORTH AMERICA: ELECTRIC TWO WHEELER MARKET, BY COUNTRY, 2014-2023 (USD MILLION)
TABLE 5 NORTH AMERICA: ELECTRIC TWO WHEELER MARKET, BY VEHICLE TYPE, 2014-2023 (USD MILLION)
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