Market Insights
As per recent research by MarkNtel Advisors, The Global Electric Two Wheeler Market is projected to grow at a CAGR of around 14% during the forecast period, i.e., 2023-28.
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Global Electric Two Wheeler Market Key Driver:
Expansion of E-scooter & E-motorcycle Rentals to Serve Tourists Drives the Market – Tourism is one of the major factors boosting the sales globally, as rental electric two-wheelers are the most preferred choice for tourists to visit the city hassle free on their own. Globally, the demand for these vehicles is being driven by urbanization, digitalization, micro-mobility, traffic congestion, and the cost of owning & maintaining bikes.
The tourist cities like Bali, Kuala Lumpur, Madrid, Delhi, etc., across the world, are facing traffic congestion & pollution caused by rapid urbanization that puts a lot of pressure on the public transport system. Therefore, the consumer prefers the rental electric two-wheeler as it offers hassle-free movement at a competent cost than renting a four-wheeler for the same purpose. As a result of the growing demand, various start-ups, such as Revel, City Scoot, Cooltra, VOGO, etc., that provide QR-based dockless services are increasingly expanding worldwide to gain significant revenues.
Thus, the expansion of e-scooter & motorcycle renting companies are notably driving the sales and is anticipated to continue to support the revenue expansion of the market in the upcoming years as well.
Market Segmentation and Consumer Behavior:
By VehicleType
- Scooter/Moped
- Motorcycle
By Application
- Personal Use
- Commercial Use
By Drive Type
- Off road
- Urban
By Travel Range
- Up to 100 Km
- 101 to 150 Km
- More than 150
By Battery Type
- Lead Acid
- Lithium Ion
By Battery Capacity
- < 2 kWh
- 2-2.5 kWh
- 5 kWh
By Tire Size
- 50 x 17
- 90/90-12
- 5 x 17
- 120/70 ZR17
- 100/70-17
- 90/90-14
- 00-10
- 110/70-12
- 90/90-10
- 110/80-14
- 50-10
- 120/70-12
- Others
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Electric Two Wheeler Market Geographical Analysis:
By Region:
- North America
- Latin America
- Europe
- The Middle East & Africa
- Asia Pacific
- South East Asia
Key Players and Competitive Strategies in the Electric Two Wheeler Market
Several prominent players dominate the Electric Two Wheeler Market, including:
- Hero Electric Vehicles Private Limited
- Okinawa Autotech International Private Limited
- Energica Motor Company S.P.A.
- AIMA Technology Group Co. Ltd.
- Yadea Technology Group Co., Ltd
- Terra Motors Corporation
- Zero Motorcycles Inc.
- Honda Motor Co., Ltd.
- Dongguan Tailing Electric Vehicle Co., Ltd.
- Silence Urban Ecomobility
- emcoelectroroller GmbH
- Vmoto Limited
- Jiangsu Xinri E-Vehicle Co.,Ltd
- GOVECS AG
- Others
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Questions Addressed in this Study
1.What factors are driving the Electric Two Wheeler Market growth?
2.How is the Electric Two Wheeler Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Electric Two Wheeler Market?
4.What is the current size of the Electric Two Wheeler Market, and how is it projected to change in the future?
5.What is the future outlook for the Electric Two Wheeler Market in terms of technological advancements and market expansion?
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