Electric Two-wheeler Market is Anticipated to Record a Massive CAGR of 25.57% in the Coming Years (2023-28)

In their recently published research report, MarkNtel Advisors stated that the Global Electric Two-wheeler Market will likely record a massive CAGR of around 25.57% during the forecast period, i.e., 2023-28. The initiatives by the government and their active participation in endorsing the adoption of electric vehicles in a bid to curtail carbon emissions have resulted in considerable sales of electric two-wheelers.

The increasing environmental complications around the world have propelled the governments of major countries to promote the adoption of electric two-wheelers as an alternative to traditional fuel-based vehicles as a sustainable and eco-friendly step towards the environment. Moreover, the cost-efficiency offered by the electric two-wheeler vehicles makes them suitable for people having average income, thus leading to a proliferated consumer base & boost in the Global Electric Two-wheeler Market.

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The report published by MarkNtel Advisors further states that the wide adoption of these electric two-wheelers by the delivery partners of several e-commerce giants led to a colossal boost in the Global Electric Two-wheeler Market. The trend of electric two-wheelers is rising all across the world particularly in Southeast Asia and the trend is likely to continue in the forecast period.

Probing the Segmentation of the Global Electric Two-wheeler Market

• By Vehicle Type (Scooter/Moped and Motorcycle)
• By Application (Personal Use and Commercial Use
• By Drive Type (Off-road and Urban)
• By Travel Range (Up to 100 Km, 101 to 150 Km, and More than 150)
• By Battery Type (Lead Acid and Lithium Ion)
• By Battery Capacity (< 2 kWh, 2-2.5 kWh, and > 2.5 kWh)
• By Tire Size (3.50 x 17, 90/90-12, 5.5 x 17, 120/70 ZR17, 100/70-17, 90/90-14, 3.00-10, 110/70-12, 90/90-10, 110/80-14, 3.50-10, 120/70-12, and Others)
• By Region (North America, Latin America, Europe, The Middle East & Africa, Asia-Pacific, and Southeast Asia)

Electric scooters/Mopeds ruled the Global Electric Two-wheeler Market in the vehicle segment. The electric scooters/mopeds are generously cost-efficient and are effortless to maintain as compared to conventional motorbikes. Moreover, the rising manufacturing and production of e-scooters & mopeds by transit companies & ride-hailing service providers such as OLA and Uber to fulfill the surging mobility requirements, and save time & cost are further anticipated to boost the sales of electric scooters enormously, thus causing overall growth in the Global Electric Two-wheeler Market.

Growing E-scooter & E-motorcycle Rentals Catering to Tourist Needs to Drive the Market Growth

Tourists, especially on beaches, islands, and tourist cities such as Bali, Kuala Lumpur, Madrid, Delhi, etc., prefer renting e-scooters & e-motorcycles extensively as it saves them from the hustle & bustle of the traffic and proves to be a cost-efficient alternative as compared to taxis and cabs on a holiday destination. These e-scooters and e-motorcycles allow the tourist to enjoy their own time and roam around the destination as per their choice at minimum costs.

Moreover, the demand for Global Electric Two-wheelers in the tourism segment is spiking due to several factors such as urbanization, digitalization, micro-mobility, traffic congestion, and the cost of owning & maintaining bikes. Additionally, the biggest advantage that is offered by renting e-scooters & e-motorcycles includes ease of accessibility & protection from pollution. Several companies such as Revel, City Scoot, Cooltra, VOGO offer e-scooters & e-motorbikes rentals and contribute to the growth of the Global Electric Two-Wheeler Market.

Companies Having a Strong Hold in the Competitive Landscape of the Global Electric Two-Wheeler Market

Significant companies such as 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, emco electroroller GmbH, Vmoto Limited, Jiangsu Xinri E-Vehicle Co., Ltd, GOVECS AG, and Others, have a robust stance in the market. The above-mentioned companies are constantly looking forward to strengthening their market share and leading the market worldwide.

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