Electric Two-Wheeler Market Latest Trends [2024-2032] | Global Demand and Forecast Report by IMARC Group

According to the latest report by IMARC Group, The global electric two-wheeler market size reached US$ 39.9 Billion in 2023.

SHERIDAN, WYOMING, UNITED STATES, January 31, 2024 /EINPresswire.com/ -- 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.

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/electric-two-wheeler-market/requestsample

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

𝐑𝐢𝐬𝐢𝐧𝐠 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬:

The growing demand for electric two-wheelers on account of rising environmental concerns is offering a positive market outlook. In line with this, people are increasingly becoming concerned about air quality, climate change, and pollution. They are seeking transportation options that assist in reducing the impact on the environment. Furthermore, electric two-wheelers produce zero tailpipe emissions. In addition, the increasing focus on reducing carbon footprints and combating air pollution in urban areas is impelling the market growth. Moreover, the rising adoption of sustainable transportation solutions to maintain a greener future is bolstering the market growth.

𝐅𝐚𝐯𝐨𝐫𝐚𝐛𝐥𝐞 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬:

Governing agencies of several countries are encouraging the adoption of electric two-wheelers by implementing stringent regulations for carbon emissions. They are also offering several incentives and subsidies on the purchase of electric two-wheelers, which is bolstering the market growth. Besides this, these initiatives benefit in reducing the upfront costs associated with purchasing electric two-wheelers and attracting a larger consumer base. Furthermore, the rising focus on reducing the dependence on fossil fuels is impelling the market growth. In addition, the increasing demand for sustainable mobility solutions among individuals is propelling the market growth.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬:

Technological advancements in electric two-wheelers, such as improved battery technology, with higher energy density and faster charging capabilities, benefit in extending the range and reducing charging times. Apart from this, advanced motor and powertrain technology assist in improving performance, providing riders with smoother acceleration and enhanced efficiency. Furthermore, connectivity features, such as smartphone integration and global positioning system (GPS) navigation, enhance the riding experience. Additionally, innovations in regenerative braking and energy management systems maximize efficiency and range, which is strengthening the market growth.

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.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=2215&flag=C

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:

The escalating demand for electric two-wheelers due to the increasing fuel prices is propelling the market growth. In addition, the rising adoption of electric two-wheelers, as they offer a cost-effective alternative and rely on electricity, is supporting the market growth. Besides this, people are increasingly preferring electric two-wheelers due to their lower operational costs. The increasing development of advanced charging infrastructure for electric vehicles is contributing to the market growth. Furthermore, the widespread availability of charging stations benefits in enhancing convenience for individuals.

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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