Electric Two-Wheeler Market Size, Share, Trends, Growth 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:

• Integration with Public Transport Systems:

The rising incorporation of electric two-wheelers (E2Ws) into the public transport systems is impelling the growth of the market. E2Ws are an ideal solution for the last-mile problem, providing a convenient and efficient way for individuals to reach their final destination from a public transport hub. E2Ws offer a flexible and eco-friendly alternative, complementing public transport by filling in the gaps in urban mobility. Initiatives, such as dedicated parking spots for E2Ws at transit stations and the integration of E2Ws sharing schemes into public transport apps, are facilitating the incorporation of E2Ws.

• Technological Advancements:

Rising advancements in battery and electric motor technologies are bolstering the market growth. Improvements in lithium-ion (Li-on) battery technology are resulting in longer ranges, shorter charging times, and more durable battery life for E2Ws. Innovations like solid-state batteries and fast-charging infrastructure are further enhancing these aspects. Moreover, advancements in electric motor efficiencies are improving the power and performance of E2Ws, making them better than their gasoline alternatives in terms of acceleration and top speed. These technological strides not only improve the user experience but also address some of the key concerns of potential buyers, such as range anxiety and long charging times.

• Government Policies and Incentives:

Governing agencies in many countries are implementing numerous measures to promote the adoption of E2Ws. These measures include financial incentives, such as subsidies on the purchase of E2Ws, tax rebates, and exemption from road taxes and toll fees. In addition, regulatory policies like low-emission zones in urban centers and restrictions on the use of gasoline-powered vehicles in certain areas are making E2Ws more appealing. Infrastructure development, such as the expansion of public charging stations, further supports this transition. These governmental efforts are designed to offset the initial higher purchase cost of E2Ws and address infrastructure challenges, significantly influencing user choice and accelerating the shift toward electric mobility.

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.

• GOVECS AG

• Hero Electric Vehicles Pvt. Ltd.

• Mahindra GenZe

• Terra Motors Corporation

• Vmoto Limited

• Yadea Technology Group Co. Ltd.

• Zero Motorcycles, Inc.

Electric Two-Wheeler Market Report Segmentation:

By Vehicle Type:

• Electric Scooter/Moped

• Electric Motorcycle

Based on the vehicle type, the market has been bifurcated into electric scooter/moped and electric motorcycle.

By Battery Type:

• Lithium-Ion

• Sealed Lead Acid (SLA)

On the basis of the battery type, the market has been classified into lithium-ion and sealed lead acid (SLA).

By Voltage Type:

• <48V

• 48-60V

• 61-72V

• 73-96V

• >96V

Based on the voltage type, the market has been divided into <48V, 48-60V, 61-72V, 73-96V, >96V.

By Peak Power:

• <3 kW

• 3-6 kW

• 7-10 kW

• >10 kW

On the basis of the peak power, the market has been categorized into <3 kW, 3-6 kW, 7-10 kW, and >10 kW.

By Battery Technology:

• Removable

• Non-Removable

Based on the battery technology, the market has been bifurcated into removable and non-removable.

By Motor Placement:

• Hub Type

• Chassis Mounted

On the basis of the motor placement, the market has been segregated 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 market has been segmented into Asia Pacific (China, Japan, India, South Korea, Australia, and Others); Europe (Germany, France, United Kingdom, Italy, Netherlands, Norway, and Others); North America (the United States and Canada); Latin America (Brazil, Mexico, and Others); the Middle East and Africa (Turkey, Saudi Arabia, Egypt, and Others).

Global Electric Two-Wheeler Market Trends:

The growing inclusion of smart technologies into E2Ws for enhancing user experience and safety is offering a favorable market outlook. Features like global positioning system (GPS) navigation, real-time vehicle diagnostics, Bluetooth connectivity, and smartphone integration for monitoring battery status and range are becoming standard. These smart features not only make E2Ws more appealing to tech-savvy individuals but also improve the functionality and convenience of using these vehicles for daily commutes. Moreover, advanced safety features like anti-lock braking systems (ABS) and traction control are being integrated, increasing the attractiveness of E2Ws to a broader audience.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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