IMARC Group, a leading market research company, has released a report titled “Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global electric two-wheeler market size reached US$ 35.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028.
An electric two-wheeler, often referred to as an electric scooter or e-scooter, is a type of personal transportation vehicle that operates on electric power rather than traditional internal combustion engines. These vehicles are designed for urban mobility, providing a clean, eco-friendly, and efficient mode of transportation. They typically include electric scooters, electric motorcycles, and electric bicycles. Electric scooters are compact and lightweight, making them suitable for short-distance commutes and urban travel. They are powered by electric motors and are often equipped with rechargeable lithium-ion batteries. Riders control speed and acceleration using handlebar-mounted controls. Electric motorcycles, on the other hand, are larger and more powerful than electric scooters, resembling traditional motorcycles but with electric propulsion systems. They offer longer ranges and higher speeds, making them suitable for both urban and highway use. At present, electric two-wheelers are gaining immense traction across the globe due to their enhanced convenience, cost-effectiveness, and eco-conscious appeal.
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Electric Two-Wheeler Market Trends and Drivers:
The global electric two-wheeler market is primarily driven by the rising product adoption as a cleaner and more sustainable mode of transportation owing to the heightening awareness of environmental concerns and the heightened need to reduce carbon emissions. Moreover, the increasing urbanization and traffic congestion in many cities has augmented the demand for compact and agile electric scooters and motorcycles, which offer a convenient and efficient solution for short-distance commutes. Apart from this, various government incentives and subsidies to promote electric vehicles and implementation of stricter emission regulations that push consumers and manufacturers to invest in electric two-wheelers are other major growth-inducing factors. Additionally, ongoing advancements in battery technology, resulting in longer ranges and shorter charging times that enhance the appeal and feasibility of electric two-wheelers, are propelling market growth. Besides this, inflating fuel prices and operational cost savings associated with electric two-wheelers that make them an attractive option for cost-conscious consumers has catalyzed market growth. Furthermore, the rapid expansion of ridesharing and delivery services and the shift toward contactless and sustainable mobility solutions are contributing to market growth.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
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.
and Zero Motorcycles
Explore full report with table of contents: https://www.imarcgroup.com/electric-two-wheeler-market
The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Vehicle Type:
Electric Scooter/Moped
Electric Motorcycle
Breakup by Battery Type:
Lithium-Ion
Sealed Lead Acid (SLA)
Breakup by Voltage Type:
<48V
48-60V
61-72V
73-96V
>96V
Breakup by Peak Power:
<3 kW
3-6 kW
7-10 kW
>10 kW
Breakup by Battery Technology:
Removable
Non-Removable
Breakup by Motor Placement:
Hub Type
Chassis Mounted
Market Breakup by Region:
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
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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