Electric Two-Wheeler Market Size & Share Analysis by 2024-2032

IMARC Group’s report titled “Electric Two-Wheeler Market Report by Vehicle Type (Electric Scooter/Moped, Electric Motorcycle), Battery Type (Lithium-Ion, Sealed Lead Acid (SLA)), Voltage Type (<48V, 48-60V, 61-72V, 73-96V, >96V), Peak Power (<3 kW, 3-6 kW, 7-10 kW, >10 kW), Battery Technology (Removable, Non-Removable), Motor Placement (Hub Type, Chassis Mounted), and Region 2024-2032“. The global electric two-wheeler market size reached US$ 39.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 109.5 Billion by 2032, exhibiting a growth rate (CAGR) of 11.5% during 2024-2032.

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Factors Affecting the Growth of the Electric Two-Wheeler Industry:

  • Environmental Concerns:

Electric two-wheelers produce zero tailpipe emissions, unlike their gasoline-powered counterparts, which emit pollutants, such as carbon dioxide (CO2), nitrogen oxides (NOx), and particulate matter (PM). As a result, electric two-wheelers help to improve air quality and reduce pollution levels in urban areas, contributing to public health and mitigating the impact of transportation on the environment. By switching to electric two-wheelers, which are powered by electricity generated from renewable sources, people can reduce their carbon footprint and contribute to global efforts to combat climate change.

  • Technological Advancements:

Advances in battery technology, particularly in lithium-ion batteries, are leading to improvements in energy density, charging speed, and overall battery performance. These advancements are resulting in electric two-wheelers with longer range capabilities, faster charging times, and improved durability, making them more practical and appealing to consumers. Continuous improvements in electric motor design and efficiency are contributing to increased performance and range for electric two-wheelers.

  • Urbanization and Traffic Congestion:

With urbanization comes increased traffic congestion, which leads to longer commute times, higher fuel consumption, and increased air pollution. Electric two-wheelers provide a compact and agile alternative to cars and trucks, allowing riders to bypass traffic jams and reach their destinations more quickly. This makes electric two-wheelers particularly appealing for urban commuters looking to save time and reduce the stress of commuting in heavy traffic.

Leading Companies Operating in the Global Electric Two-Wheeler Industry:

  • AIMA Technology Co. Ltd.
  • Ampere Vehicles Pvt. Ltd.
  • BMW AG
  • Energica Motor Company S.p.A.
  • Hero Electric Vehicles Pvt. Ltd.
  • Mahindra GenZe
  • Terra Motors Corporation
  • Vmoto Limited
  • Yadea Technology Group Co. Ltd.
  • Zero Motorcycles, Inc.

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Electric Two-Wheeler Market Report Segmentation:

By Vehicle Type:

  • Electric Scooter/Moped
  • Electric Motorcycle

On the basis of the vehicle type, the market has been bifurcated into electric scooter/moped and electric motorcycle.

By Battery Type:

  • Lithium-Ion
  • Sealed Lead Acid (SLA)

Based on the battery type, the market has been divided into lithium-ion and sealed lead acid (SLA).

By Voltage Type:

  • <48V
  • 48-60V
  • 61-72V
  • 73-96V
  • >96V

On the basis of the voltage type, the market has been classified into <48V, 48-60V, 61-72V, 73-96V, and >96V.

By Peak Power:

  • <3 kW
  • 3-6 kW
  • 7-10 kW
  • >10 kW

Based on the peak power, the market has been segregated into <3 kW, 3-6 kW, 7-10 kW, and >10 kW.

By Battery Technology:

  • Removable
  • Non-Removable

On the basis of battery technology, the market has been segmented into removable and non-removable.

By Motor Placement:

  • Hub Type
  • Chassis Mounted

Based on the motor placement, the market has been bifurcated into hub type and chassis mounted.

Regional Insights:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Region-wise, the electric two-wheeler market is divided into Asia Pacific (China, Japan, India, South Korea, Australia, and others), Europe (Germany, France, United Kingdom, Italy, Netherlands, Norway, and others), North America (United States and Canada), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, Saudi Arabia, Egypt, and others).

Global Electric Two-Wheeler Market Trends:

Manufacturers are expanding their product portfolios to include a wide range of electric bicycles, scooters, and motorcycles, catering to various consumer preferences and market segments. Many governments are implementing policies and providing incentives to promote the adoption of electric vehicles (EVs), including electric two-wheelers, as part of their efforts to reduce air pollution and combat climate change.

The expansion of charging infrastructure, including public charging stations and battery swapping facilities, is offering lucrative growth opportunities to industry investors. In addition, the rise of shared mobility services, such as electric scooter-sharing and bike-sharing programs, is increasing the visibility and accessibility of electric two-wheelers, particularly in urban areas.

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