Strong Growth Ahead: Electric Two Wheeler Market Projects 25.57% CAGR Increase by 2028

Overview of Electric Two Wheeler Market Size & Future Outlook

According to the latest report by MarkNtel Advisors, the Global Electric Two Wheeler Market size is estimated to grow at a CAGR of around 25.57% from 2023-2028. This report is designed to enhance user understanding and support informed decision-making by thoroughly analyzing key market shifts, identifying gaps, exploring emerging opportunities, and assessing industry trends and competitive challenges. By combining both qualitative and quantitative data, it offers a comprehensive overview, highlighting growth prospects and providing valuable insights into competitors, helping both established companies and new entrants navigate the current market landscape.

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What are the key drivers influencing the growth of the Electric Two Wheeler market?

This section provides a detailed analysis of the market drivers and factors is explored thoroughly below.

Expansion of E-scooter & E-motorcycle Rentals to Serve Tourists Drives the Market - Tourism is one of the major factors boosting the sales globally, as rental electric two-wheelers are the most preferred choice for tourists to visit the city hassle free on their own. Globally, the demand for these vehicles is being driven by urbanization, digitalization, micro-mobility, traffic congestion, and the cost of owning & maintaining bikes.

The tourist cities like Bali, Kuala Lumpur, Madrid, Delhi, etc., across the world, are facing traffic congestion & pollution caused by rapid urbanization that puts a lot of pressure on the public transport system. Therefore, the consumer prefers the rental electric two-wheeler as it offers hassle-free movement at a competent cost than renting a four-wheeler for the same purpose. As a result of the growing demand, various start-ups, such as Revel, City Scoot, Cooltra, VOGO, etc., that provide QR-based dockless services are increasingly expanding worldwide to gain significant revenues.

Thus, the expansion of e-scooter & motorcycle renting companies are notably driving the sales and is anticipated to continue to support the revenue expansion of the market in the upcoming years as well.

How is the Electric Two Wheeler market segmented and what are the key factors within each segment?

The Electric Two Wheeler market has been further segmented into distinct categories. Analyzing growth within these segments allows you to identify niche opportunities, develop targeted strategies, and understand the variations in your core application areas and target markets.

By VehicleType

Scooter/Moped
Motorcycle

By Application

Personal Use
Commercial Use

By Drive Type

Off road
Urban

By Travel Range

Up to 100 Km
101 to 150 Km
More than 150

By Battery Type

Lead Acid
Lithium Ion

By Battery Capacity

< 2 kWh
2-2.5 kWh
> 2.5 kWh

By Tire Size

50 x 17
90/90-12
5 x 17
120/70 ZR17
100/70-17
90/90-14
00-10
110/70-12
90/90-10
110/80-14
50-10
120/70-12
Others

By Region

North America
Latin America
Europe
The Middle East & Africa
Asia Pacific
South East Asia.

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Who are the Key Market Players in the Electric Two Wheeler industry?

The competitive landscape of the Electric Two Wheeler market provides a detailed look at the key players in the industry. This includes an overview of each company, their financial performance, revenue generation, and market potential. It also covers their investments in R&D, new market initiatives, production facilities, and strengths and weaknesses. Additionally, the analysis looks at recent product launches, approvals, the range of products offered, their dominance in different applications, and the product life cycle. All of this information is specifically focused on how each company is positioning itself within the market.

Several key players are actively operating in the market, including

Hero Electric Vehicles Private Limited
Okinawa Autotech International Private Limited
Energica Motor Company S.P.A.
AIMA Technology Group Co. Ltd.
Yadea Technology Group Co., Ltd
Terra Motors Corporation
Zero Motorcycles Inc.
Honda Motor Co., Ltd.
Dongguan Tailing Electric Vehicle Co., Ltd.
Silence Urban Ecomobility
emcoelectroroller GmbH
Vmoto Limited
Jiangsu Xinri E-Vehicle Co.,Ltd
GOVECS AG
Others.

Market Advancement by Leading Companies:

2023: An electric two-wheeler manufacturer, Yadea Technology Group Co., Ltd., launched a high-speed electric motorcycle in the US as part of the company's strategic layout for the US market. The company plans to open flagship stores in San Francisco & Los Angeles and over 100 Integrated brand dealer stores in the first half of 2023.

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