Electric Two-Wheeler Market: 2018 Global Trends, Sales, Competitive Analysis, Share, Size, And Regional Forecast To 2023

“\”Electric two-wheeler Market\””
Market Research Future published research report on “Global Electric two-wheeler Market 2018 – Forecast to 2023 ” provides detailed Electric two-wheeler Market Analysis, Scope, Stake, Progress, Trends and Size, Share, Opportunity, and Regional Forecast. Electric two-wheeler market sales is to expand at the highest growth rate by 2023.

Electric two-wheeler Market Highlights:

Electric two-wheelers are plug-in electric vehicles powered by electricity stored on board in a rechargeable battery used for driving of one or more electric motors. Electric two-wheelers have lower operating costs compared to the conventional ICE vehicles with performance alike. Also, these vehicles also help in saving costs related to fuel, spark plug change, and oil filter replacements coupled with their minimalistic design characteristics have resulted in low maintenance costs.

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Electric two-wheeler Market Key Players Analyzed are:

Aptiv (U.K), Continental AG (Germany), Tobii Technology (Sweden), Visteon Corporation (U.S.), Aisin Seiki Corporation Limited (Japan), and Denso Corporation (Japan). Ficosa International SA (Portugal), Harman International Industries Inc. (U.S.), Caterpillar Inc. (U.S.), Takata Corporation (Japan), Robert Bosch (Germany), Valeo (France), Seeing MACHINE (Australia), Edge3 (U.S.), and Xilinx (U.S.) are among others.

The advent of increased greenhouse and carbon emissions is expected to contribute to the adoption of electric scooters over the next years. E-transportation has become an eco-friendly alternative with growing pressure to reduce the carbon footprint across the globe. Factors such as an increase in fuel costs and maintenance of fuel-powered vehicles are expected to have positive impact on the industry growth. Over the past years, there has been an upsurge in the awareness of air quality and environmental concerns. Among the major growth strategies adopted by the various players, product development and new product launch account for the largest share. With the declining battery costs, new government targets for the introduction of e-mobility, and decent growth in renewable sector, manufacturers are focusing on product development with technological advancements in place.

Owing to high purchasing power of consumers, sales of conventional two-wheelers running on fossil fuel powered engines has grown manifold. However, the governments of many countries are trying to bring down the pollution level by enforcing stricter emission norms, levying extra tax on the purchase of automobiles and providing special concession or subsidies for the purchase of electric two-wheelers. Thus, the governments are helping the growth of electric two-wheelers by offering special incentives to the manufacturers. For instance, in a country like China, the government offers a subsidy of close to US$ 600 to US$ 1,000 to every customer who purchases an electric two-wheeler. This incentive provided depends upon the size of the battery capacity, which powers the electric two-wheeler purchased.

Advancement in battery technologies is one of the key trends that will gain traction in the electric two-wheelers market over the coming years. For instance, improvements in Li-ion batteries have made electric two-wheelers, light in weight and increased their lifespan as compared to lead-acid and valve-regulated lead-acid (VRLA) batteries. Thus, growing concerns regarding the development of newer battery technologies with longer shelf life, among manufacturers of electric two-wheelers is anticipated to result in continuous research & development, which in turn is expected to boost the electric two-wheeler market.

Electric Two Wheeler Market by Segmentation:

Based on type, the market is segmented as electric scooters and electric motorcycles. During 2016, the electric scooters market segment accounted for the largest market share, owing to factors such as the increased sales of scooters in developing countries such as India and China. Also, growth in technological innovations coupled with stringent environmental regulations across the globe is anticipated to contribute in the growth of the electric two-wheeler market in the forecast period.

On the basis of battery type, the market segments are sealed lead acid, Li-ion and others. Until the past few years, sealed lead acid batteries were used due to their benefits such as robustness and low costs. However, overheating and bulkiness of these batteries due to charging are some of the disadvantages, which make them discharge quickly even without handling heavy loads. On the other hand, with improved efficiency and advantages of lithium-ion battery packs, electric two-wheeler manufacturers are gradually switching to them. Due to this, li-ion is estimated to account for a larger share in the years to come.

Based on voltage, the market is segment as 36V, 24V, 48V, more than 48V. Among these, 48V and more than 48V segment, accounted a major revenue share in 2017 and is estimated to witness significant growth over the forecast period. The high voltage levels of batteries offer cost-effective opportunities for hybridization of vehicles.

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific accounted for the largest share in 2017, owing to the regional growth in vehicle charging infrastructure in emerging countries such as China and Taiwan,. On the other hand, the electric vehicles industry in India is still at a nascent stage. Electric vehicles account for less than 1% of the total vehicle sales. However, they have a potential to grow to more than 5% in few years. At present, there are more than 400,000 electric two-wheelers on Indian roads, among which, more than 95% of electric vehicles are low-speed electric scooters, with a speed of less than 25km/hr. However, North America is expected to emerge as a prominent region over the forecast period, U.S. having a large number of early adopters of these vehicles due to various major manufacturers, such as Mahindra GenZe entering the market.

The report for Global Electric Two Wheeler Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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