Electric Two-Wheeler Market to Worth US$ 72.5 Billion by 2028 | Industry CAGR of 13.18%
IMARC Group has recently released a new research study 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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Electric two-wheelers represent lightweight and self-operating automobiles that are generally powered by a rechargeable battery or an integrated electric motor. They include mopeds, scooters, motorcycles, etc. Electric two-wheelers are portable, versatile, cost-effective, durable, fuel-efficient, and an eco-friendly alternative to other transportation modes. They aid in maneuvering through congested roads. Consequently, electric two-wheelers enable users to avoid traffic jams and commute short distances at a higher speed.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Electric Two-Wheeler Market Trends and Drivers:
The escalating demand for cost-effective commute options and the increasing consumer environmental concerns towards the rising pollution levels, owing to the widespread adoption of fuel-based automobiles, are primarily augmenting the electric two-wheeler market. Furthermore, the inflating popularity of eco-friendly personal vehicles is positively influencing the global market. Apart from this, the launch of favorable policies by government bodies across numerous countries to promote the use of electric vehicles (EVs) through subsidies and tax rebates and the growing number of EV charging stations at commercial places, such as shopping malls and educational institutes, are acting as significant growth-inducing factors.
Moreover, electric two-wheelers are gaining extensive traction among logistics companies for providing postal and delivery services in a quick and convenient manner, which is also catalyzing market growth. Besides this, the high depletion rates of petrol and diesel and the expanding e-commerce industry are further stimulating the global market. Additionally, the introduction of compact product variants that offer enhanced fuel efficiency, a wide array of operational benefits, low maintenance costs, etc., is anticipated to fuel the electric two-wheeler market over the forecasted period.
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Electric Two-Wheeler Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
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
Report Segmentation:
The report has segmented the market into the following categories:
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
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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