The electric two-wheeler market is expected to register significant growth through 2030 owing to emerging micro-mobility trends across the world. Increasing consumer awareness about environmental issues is slated to further drive market growth over the forecast timespan.
Recently, major players in the industry have been investing in product innovation to improve their business standing, which is bolstering market expansion. For instance, in August 2022, Greaves Cotton, a heavy equipment manufacturer, stated that leveraging the $150 million investment from Abdul Latif Jameel, a global investor in the e-mobility division, it was exploring export opportunities for its Ampere electric two-wheelers. The firm is also working on launching high-speed electric scooters by year-end.
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The electric two-wheeler market has been segmented on the basis of battery, motor speed, motor power, vehicle type, motor placement, and region.
In terms of motor speed, the market has been divided into 3.5kW - 6.5kW, below 3.5 kW, and above 6.5kW. The above 6.5kW segment is projected to observe significant progress through 2030 as it is the preferred motor speed for large-sized vehicles as well as high-speed electric two-wheelers like motorbikes.
Based on motor power, the electric two-wheeler market has been bifurcated into 60V, 48V, 72V, and others. The others segment, which comprises 96V and 120V batteries, held a market share of more than 25% in 2021. The demand for these batteries will grow in the coming years owing to surging adoption of heavy-build and long-range electric motorcycles, which require long charging cycles and high-power output.
In the context of vehicle type, the market has been segmented into electric scooter, electric kick scooter, e-bikes, and electric motorcycle. Owing to their environmental benefits, the demand for electric kick scooters is expected to increase in the upcoming time period to reach more than $3.5 billion in revenue by 2030. Major market players are offering high-performance electric kick scooters by accommodating end-user requirements, which is foreseen to propel segmental growth.
With respect to region, the electric two-wheeler market in Latin America was valued at more than $400 million in 2021 owing to favorable government initiatives in the region. Regional government authorities are increasingly investing in measures and introducing incentives to promote EV adoption. Easy maneuverability in urban spaces and reduced carbon emissions are also set to bolster LATAM market share.
Meanwhile, in the Middle East & Africa, the electric two-wheeler industry is anticipated to reach over $300 million in revenue by 2030. Growing emphasis on transitioning into a greener economy and freeing up more crude for export is speculated to support market growth in MEA in the future.
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Major companies in the electric two-wheeler market include Niu Technologies, Yadea Group Holdings Ltd., Giant Bicycles, Segway, Inc., Zero Motorcycles, Hero Electric, SUNRA, Okinawa Autotech Pvt. Ltd., and Vmoto Limited. These leaders are focusing on implementing advanced technologies into their products to meet the growing consumer requirements.
Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Scope & definition
1.2 Methodology and forecast parameters
1.2.1 Region-wise COVID-19 impact
1.2.1.1 North America
1.2.1.2 Europe
1.2.1.3 Asia Pacific
1.2.1.4 Latin America
1.2.1.5 MEA
1.3 Data Sources
1.3.1 Secondary
1.3.2 Primary
1.4 Industry glossary
Chapter 2 Executive Summary
2.1 Electric two-wheelers industry 360° synopsis, 2016 – 2026
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Vehicle type trends
2.1.4 Motor placement trends
2.1.5 Motor power trends
2.1.6 Motor speed trends
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