Vertical: AutoBase Year: 2018
Market Size (2018)
$13.96B
Projected (2025)
$33.42B
CAGR (2017–2025)
13.2%
Key Players
10+
Electric two-wheelers operate through rechargeable batteries and electric motors. Electric two-wheelers include electric scooters and electric motorcycles. The functioning of the electric two-wheelers is based on the power storage in a rechargeable battery, which drive the electric motors. These two-wheelers are used for both, commercial and recreational purposes. The growth of the global electric two-wheeler market is driven by the government initiatives to encourage electric vehicle adoption, demand for electric two-wheelers among tourists, and strategic developments for growth by major players. However, the market growth can be hindered due to high prices of electric two-wheelers & batteries and underdeveloped charging infrastructure, coupled with poor aftermarket services.
The global electric two-wheeler market is expected to grow at about 13.39% CAGR during the forecast period and reach USD 33,419.8 million by 2025. In 2018, the market was led by Asia-Pacific, with a 69.47% share, followed by Europe and North America with shares of 16.54% and 10.32%, respectively.
The electric two-wheeler market has been segmented based on type, battery type, voltage and region. On the basis of type, the electric scooter segment dominated the market with a share of 67.39%, accounting for a value of USD 9,409.2 million in 2018; it is projected to grow at the CAGR of 14.07% during the forecast period. On the basis of battery type, the sealed lead acid segment dominated the market with a share of 64.85%, accounting for a value of USD 9,054.5 million in 2018; it is projected to grow at the CAGR of 12.78% during the forecast period. On the basis of voltage, more than 48V segment dominated the market with a share of 38.92%, accounting for a value of USD 5,434.8 million in 2018; it is projected to grow at the CAGR of 15.40% during the forecast period.
The Electric Two-Wheeler Market market is projected to grow at a CAGR of 13.2% from 2017 to 2025.
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View Subscription PlansElectric two-wheelers are kind of plug-in electric vehicles powered by electricity stored on board in a rechargeable battery used for driving of one or more electric motors. Electric two-wheelers have lower operating costs compared to the conventional ICE vehicles. Also, these vehicles help in saving costs related to fuel, spark plug change, and oil filter replacements coupled with their minimalistic design characteristics, which also leads to low maintenance costs. The varieties of batteries installed in electric two-wheelers are lithium-ion batteries, sealed lead-acid batteries, and others.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2017 – 2017
Forecast Period
2019 – 2025
Primary Interviews
150+
Historical data (2017–2018) and forecast period (2018–2025)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global electric two-wheeler market is characterized by the presence of many global, regional, and local vendors. The electric two-wheeler market is highly fragmented. Furthermore, rapid advancement in technology, stringent government regulations to curb CO2 emissions in developed countries and increasing demand for improved vehicle range are the key factors that confront the market growth. The vendors compete based on cost, quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-effective and high-quality products and services to survive and succeed in an intensely competitive market environment.
The growth of market players is dependent on market conditions, government support, and industry development. Thus, vendors are required to focus on partnerships and improving product services. Wuxi YADEA Export-Import Co., Ltd, Jiangsu Xinri E-Vehicle Co., Ltd, GOVECS AG, Vmoto Limited, and Energica Motor Company S.p.A are accounted for nearly 7.83% share of the global electric two-wheeler market in 2018. Moreover, Zero Motorcycles Inc, Hero Electric, Ampere Vehicles, and Niu International are the other major companies operating in the market that compete in terms of quality, price, technology, and aftermarket services.
Product development was the extensively adopted strategy by the players operating in the global market in 2018. The companies focusing on expanding presence worldwide by making partnerships with government authorities and technology providers. The improving global economic scenario and efforts to enhance the charging infrastructure in emerging countries are fueling the market growth, making it an ideal time to launch new electric two-wheeler systems and increase the global market share.
Company Name
Market Share, 2018 (%)
Wuxi YADEA Export-Import Co., Ltd
Jiangsu Xinri E-Vehicle Co., Ltd
GOVECS AG
Vmoto Limited
Energica Motor Company S.p.A
Others
Competitors
Key Region/ Country Presence
Industry Experience
Jiangsu Xinri E-Vehicle Co., Ltd
North America and Asia-Pacific
19 years
Wuxi YADEA Export-Import Co., Ltd
Asia-Pacific
17 years
Vmoto Limited
Europe and Asia-Pacific
17 years
Energica Motor Company S.p.A.
Europe
4 year
GOVECS AG
Europe
9 years
China Zhongneng Vehicle Group Co., Ltd
Asia-Pacific and Europe
31 years
Zero Motorcycles, Inc.
North America and Europe
11 years
Hero Electric
Asia-Pacific
4 years
Ampere Vehicles
Asia-Pacific
10 years
Niu International
Asia-Pacific and Europe
4 years
LIst of active players in the Global electric TWO-WHEELER market
Company Name
Collaboration/ Partnership/ Joint Venture
New Product Development
Expansions & Investments
Total
Wuxi YADEA Export-Import Co., Ltd
–
–
Vmoto Limited
–
–
Energica Motor Company S.p. A
–
–
Zero Motorcycles, Inc.
–
–
Hero Electric
–
–
Ampere Vehicles
–
Niu International
–
–
Total
Market estimates by geography (2025)
InsightAsia Pacific leads with $24.39B by 2025.
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View Subscription Plans| REGION | 2017 | 2018 | 2025 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $8.55B | $14.24B | $24.39B | 14.0% | 73% |
| Europe | $2.08B | $3.20B | $5.08B | 11.8% | 15% |
| Rest of the World | $471.70M | $662.80M | $957.40M | 9.3% | 3% |
| North America | $1.31B | $1.95B | $3.00B | 10.9% | 9% |
| Total | $12.41B | $20.06B | $33.42B | 13.2% | 100% |
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View Subscription PlansTotal Market Size
$33.42B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Electric Scooter | $23.50B | 13.9% | 70% |
| Electric Motorcycle | $9.92B | 11.7% | 30% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Electric Two-Wheeler Market covering market dynamics, competitive landscape, and strategic outlook.
The Electric Two-Wheeler Market market is projected to reach $33.42B by 2025, growing at 13.2% CAGR. The Electric Scooter segment holds the largest share.
The global electric two-wheeler market is rapidly growing due to government initiatives to encourage electric vehicle adoption, demand for electric two-wheelers among tourists, strategic developments for growth by major players. However, the growth of the market is hampered by high prices of electric two-wheelers and batteries and underdeveloped charging infrastructure and poor aftermarket services.
Governments all around the world, including China, the US, the UK, the Netherlands, Norway, and India, are taking initiatives to increase the awareness regarding the use of electric vehicles to control the adverse impact on the environment and foreign exchange reserves. In 2018, China’s Development and Reform Commission announced a new USD 47 billion fund, which supports the development of Electric Vehicles (EV) technologies.
The European Commission initiated the ‘Green eMotion’ project, which is worth USD 47.22 million (EUR 41.8 million) with an objective to achieve technological optimization and EV market development. This project was launched in partnership with forty-two partners from various industries, utilities, electric vehicle manufacturers, municipalities, universities, and technology and research institutions. This is expected to increase the adoption of electric two-wheelers. The Indian government launched the National Electric Mobility Mission Plan (NEMMP) 2020, with an aim to achieve national fuel security by promoting the use of electric vehicles in the country.
The electric two-wheeler is an ideal solution for short and medium range transportation for individuals as it offers high comfort, ease of driving, and eliminates the need for a car or a conventional bike. Electric two-wheelers provide a cost economical alternative to cars. The rising awareness regarding the unnecessary use of vehicles, particularly at a time when petrol prices are constantly rising, is expected to drive the demand for electric two-wheelers, globally, during the forecast period.
The government initiatives are at a primary stage, as most of the countries are planning to introduce several regulations and initiatives to encourage the adoption of electric vehicles in the near future. Thus, the impact of government initiatives to encourage electric two-wheeler adoption is expected to shift from low to high over the forecast period.
An electric two-wheeler lets the user travel only a limited distance on single charge. The batteries, which are used in these scooters can be improved to enhance their capacity. However, this can only be done at the expense of increasing the weight of the battery, which hampers the efficiency of the electric two-wheeler. The charging duration is also a major concern for the users of electric two-wheelers as it takes 2 to 6 hours for them to fully charge, depending on the battery specifications. Improvement in battery capacity without increasing the battery weight and reduced charging duration could create opportunities for electric two-wheeler manufacturing companies. Major electric two-wheeler manufacturers are working on maximizing the battery capacity and reducing the charging duration. For instance, in 2019, Okinawa Electric Scooters launched Praise, an electric scooter, which can run for 175–200 km on full charge. Improved battery capacity and reduced charging duration are expected to increase the demand for electric two-wheelers. Therefore, the improvement of battery capacity and reduction of charging duration are expected to create opportunities for the global electric two-wheeler market players during the forecast period.
The growth of the global electric two-wheeler market entirely depends upon their rate of adoption among the end users. The high prices of electric two-wheelers and accessories is the most important factor impacting purchase in cost-sensitive regions. The most important concerns of electric two-wheeler end buyers are their battery prices, battery range, and battery life. Although the battery prices have been declining in recent years, electric two-wheeler manufacturers are still struggling to make an affordable and dependable solutions to drive wide adoption. The need to replace the batteries within a span of one to two years also restricts the adoption of electric two-wheeler. Additionally, their long charging time, and safety and security concerns regarding the battery explosion in extreme weather and operating conditions have also been hampering the use of electric two-wheelers.
Electric two-wheeler manufacturers are constantly working on reducing the price of electric two-wheeler and their batteries by developing low-cost materials and efficient manufacturing methods. Thus, the impact of high prices of electric two-wheelers and batteries on the global electric two-wheeler market is expected to shift from high to low over the forecast period.
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Profiles of 108 companies operating in the Electric Two-Wheeler Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Company Headquarters: Germany Founded: 2009 Workforce: ~230 Company Working: GOVECS AG is one of the renowned manufacturers of electric scooters and lightweight electric vehicles in Europe. The company is primarily engaged in the development and marketing of electric mobility solutions. Its premium product portfolio includes products ranging from digitally networked e-scooters for international sharing platforms to tailor-made concepts for the rapidly growing delivery sector. In addition, it is involved in the e-scooter sharing industry, offering Cityscoot in France; eCooltra in Spain, Portugal, and Italy; emmy in Germany; and Felyx in the Netherlands. It offers repair and maintenance services for individuals, businesses, and sharing operators, primarily under the Schwalbe and GO! brands and promotes its products through Happy Scooter stores in Berlin and Stuttgart, as well as through online retailing to meet the requirements of the delivery and sharing applications.
Company Headquarters: China Founded: 1987 Workforce: ~1,000 Company Working: China Zhongneng Vehicle Group Co., Ltd is among the leading manufacturers of electric scooters. The company is engaged in the development, manufacturing, and domestic and international marketing of engines, electric vehicles, and gasoline motorcycles. It has an annual production capability of 600,000 engines, 300,000 electric motorcycles, and 50 gasoline motorcycles. The company operates and exports its products globally through its subsidiaries and owns the electric motorcycle brand Modern and the gasoline motorcycle brands ZNEN, Fosti, Motowin, and Fuxianda. Moreover, it is also the parent organization of Italy's high-end motorcycle brand Moto Morini and delivers its premium range of electric scooters in Europe. It operates and manages its business services in more than 100 countries with nearly 400 first-class dealers, globally.
Company Headquarters: Italy Founded: 2014 Workforce: NA Company Working: Energica Motor Company S.p.A designs, manufactures, and sells electric vehicles across the globe. It operates as a subsidiary of CRP Group. It offers electric bikes namely Energica EGO, Energica EVA, and Energica EVA ES. Its major business operations comprise design, research & development, manufacturing, and sale of two-wheel vehicles. Furthermore, it offers batteries and chargers, as well as other components and accessories of electric two-wheeled vehicles. It has sales offices located in the US, the UK, Germany, Spain, Austria, Poland, Norway, and Kuwait.
Company Headquarters: China Founded: 2014 Workforce: NA Company Working: Niu International designs, manufactures, and sells high-performance electric scooters. It offers electric scooters under three categories, namely N, M, and U. Furthermore, the company sells spare parts and offers after-sale services through retail dealers as well as overseas operations and independent distributors. It has sales offices located in Germany, the UK, France, Belgium, Austria, Italy, Finland, Sweden, India, Vietnam, and Malaysia.
Company Headquarters: Australia Founded: 2001 Workforce: NA Company Working: Vmoto Limited is a global scooter manufacturing and distribution group that offers high-quality electric-powered two-wheel scooters and other vehicles. The company offers high-performance and competitive products through three primary brands—Vmoto, E-Max, and Super Soco. Vmoto caters to the demand in Asia, whereas E-Max targets the international B2B markets with high-end premium products. Furthermore, the Super Soco is a third-party brand Vmoto markets in the international B2B markets. The company has registered corporate offices in West Perth, Western Australia, and manufacturing operations in Nanjing, China, and a European distribution warehouse in Amsterdam, the Netherlands. It marks presence in 29 countries, represented by more than 30 distributors in Asia-Pacific, Europe, and North America. Vmoto Europe, Nanjing Vmoto Co., Ltd., e-max ev's Germany Ltd., Vmoto E-max International Ltd, Nanjing Vmoto E-max Electric Vehicles Development Co, Ltd, and Freedomotor Company Limited are some of the subsidiaries of the company.
Company Headquarters: India Founded: 2008 Workforce: NA Company Working: Ampere Vehicles specializes in the manufacturing of electric bikes in the market. The company is also engaged in the designing and development of electric three-wheelers, battery-operated electric vehicles, and custom-built vehicles. The company has an annual production capacity of nearly 60,000 electric vehicles. It has a wide presence with over 300 service centers in India. It operates in the global market through exporters and dealers in the global market. Till December 2018, the company sold nearly 50,000 electric bikes in the market. Greaves Cotton Ltd has a majority stake in the company.
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
