About Electric Two Wheeler
Electric Two Wheelers are plug-in electric vehicles with two or three wheels. The electricity is stored on board in a rechargeable battery, which drives one or more electric motors. Electric two wheelers with an integrated electric motor drive mechanism and battery, which produces power for causing or assisting propulsion. Electric two wheelers are a flexible, versatile, eco-friendly, and trendy mode of transport. These two wheelers help tackle traffic congestion, owing to the smaller size of e-bikes, attain higher speed with lesser effort, and health benefits attained with peddling. These factors lead to rise in popularity of electric two wheelers across the globe. The Asia Pacific electric two wheeler market is the fastest growing market due to the government initiatives and growing high-performance E-Motorcycle segment.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Electric Two Wheeler is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes Honda Motor Company, KTM, Suzuki, Bayerische Motoren Werke AG and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders such as Honda Motor Company, KTM, Suzuki, Bayerische Motoren Werke AG demonstrate a market-defining vision of how electric two wheeler can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings. Analyst at AMA Research estimates that Japan Vendors will contribute the maximum growth to Global Electric Two Wheeler market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honda Motor Company (Japan), KTM (Austria), Suzuki (Japan), Bayerische Motoren Werke AG (Germany), Energica Motor Company (Italy), Yamaha Motors (Japan), Harley-Davidson, Inc. (United States), Govecs Group (Germany), Askoll (Italy), Vmoto Limited (Australia), Piaggio Group (Italy), Terra Motors Corp (Japan) and Okinawa Electric Power (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ather Energy (India), PureEV (India) and Ampere Vehicles (Greaves Electric Mobility Pvt Ltd.) (India).
Segmentation Overview
AMA Research has segmented the market of Global Electric Two Wheeler market by Type (Scooter and Motorcycle), Application (Individual User, Racing, Long Commute, E-Commerce Delivery, Last Mile Connectivity, Hyperlocal Delivery Model, Ride-Hailing and Others) and Region.
On the basis of geography, the market of Electric Two Wheeler has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Power Source, the sub-segment i.e. Fuel Cell will boost the Electric Two Wheeler market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Range (Km), the sub-segment i.e. 30-40 Km will boost the Electric Two Wheeler market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Battery Type, the sub-segment i.e. SLA will boost the Electric Two Wheeler market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in Popularity of Ride-sharing System and Emergence of Hybrid Electric Two Wheeler
Market Growth Drivers:
Increasing Prices of Petroleum Products is Driving the Electric Two Wheeler Market and Low Operating and Maintenance Costs of Electric Scooters and Motorcycles is Driving the Market Forward
Challenges:
Lack of Availability of Electric Charging Stations in Developing Nations and Stringent Regulatory Standards on the use of Electric Two Wheeler
Restraints:
High Cost and Limited Life Cycle of Electric Battery
Opportunities:
Growing Support from Government Bodies of Different Countries is Expected to Create Opportunities for the Market
Market Leaders and their expansionary development strategies
In April 2020 GOVECS Group had announced the acquisition of LiveCycle. The acquisition not only provides a nationwide service network and enhanced expertise, but it also helps to sustainably support the e-scooter market's significant growth in the private customer segment. The growing demand in conurbations such as Hamburg, Frankfurt, and Cologne can now be addressed, in addition to Munich, Berlin, and Stuttgart.
In January 2022 Hero Electric and Mahindra & Mahindra had announced their strategic partnership to cater the growing demand of EVs in India. As part of the Collaboration Mahindra Group will produce Hero Electric's most popular electric bikes, the Optima and NYX, at their Pitampur plant to cater market demand. The collaborative development efforts will also play a vital role in the development of the platform strategy to assist electrify Peugeot Motorcycles range. In this dynamic, fast-growing global EV market, this is expected to provide significant value to both parties by optimising costs, deadlines, and shared expertise.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Electric Two Wheeler Suppliers and Distributors, Auto Component Manufacturers, Auto Component Raw material suppliers and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.