Electric Two-Wheeler Market

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.