Argentina Electric Two-Wheeler Market Overview, 2029

Argentina Electric Two-Wheeler Market Overview, 2029

The Colombian two-wheeler market is undergoing significant development, with electric two-wheelers (e-bikes) emerging as a viable alternative to traditional gasoline-powered motorcycles and scooters. Among the several variables driving this trend, electric scooters have received a lot of attention for their practicality and ease of use, especially among female riders, who are a growing segment of the market. Manufacturers have responded to this need by focusing on scooters, producing models with improved performance metrics such as increased range and speed, as well as features like regenerative braking, which extends battery life. A shift in cultural views is also fueling the growth of e-bikes in Colombia. With increasing worries about air pollution, more Colombians are turning to electric vehicles as a cleaner mode of transportation. This increased environmental consciousness coincides with government measures to promote electric mobility. The Electric Mobility Law of 2018 and the National Strategy for Electric Mobility, developed in 2019, give incentives for the adoption of e-vehicles, such as tax rebates and the development of charging infrastructure. Colombia presents difficulty in obtaining raw materials for e-bike batteries, particularly lithium deposits. However, the government is aggressively tackling this issue by exploring partnerships and collaborations to ensure a long-term supply chain for battery materials. Colombia hopes to reduce its dependency on limited domestic resources by investing in strategic relationships and efforts that will assure the continuous manufacture and market availability of e-bikes.

According to the research report “Colombia Electric Two Wheeler Market Overview, 2029,"" published by Bonafide Research, the Colombia Electric Two Wheeler Market is forecasted to value at more than USD 400 Million by 2029. Despite the enthusiasm behind e-bikes, there are still significant barriers to wider adoption. One key barrier is the scarcity of charging infrastructure, particularly outside of major urban areas. This constraint reduces the ease and accessibility of e-bikes to potential customers across the country. Furthermore, the greater initial cost of e-bikes compared to traditional gasoline-powered alternatives is a barrier to entry for certain consumers, while possible savings on maintenance expenses over time offset this disadvantage. Nonetheless, favourable rules and regulations are easing the integration of e-bikes into Colombia's transportation infrastructure. Government initiatives, such as tax breaks and simplified registration procedures, encourage people to prefer e-bikes over traditional cars. Furthermore, the Ministry of Transport has implemented technical rules to ensure the safety and quality of e-bikes marketed on the market, boosting customer confidence in this developing means of transportation.

The electric two-wheeler market encompasses various segments based on different criteria such as vehicle type, battery type, motor power, and usage. Firstly, the market is divided by vehicle type, with electric motorcycles and electric scooters being the primary categories. Electric motorcycles, powered by electric motors and batteries, offer zero-emission transportation with lower operating costs and improved performance thanks to advancements in battery technology. Electric scooters, similarly powered by electric motors and rechargeable batteries, cater to short-distance commuting and urban transportation needs, offering convenience and eco-friendliness. Secondly, segmentation by battery type distinguishes between sealed lead-acid (SLA) and lithium-ion batteries. SLA batteries, known for their maintenance-free operation and suitability in environments with limited ventilation, find applications across various electric vehicles, including two-wheelers. On the other hand, lithium-ion batteries, characterised by their high energy density, are favoured for their lighter weight and enhanced storage capacity, making them ideal for electric motorcycles and scooters seeking improved performance and range.

Further segmentation based on motor power includes 48V, 60V, and 72V systems, each offering distinct performance characteristics. The 48V segment typically caters to lower power ranges, balancing performance with cost-effectiveness. Meanwhile, the 60V segment strikes a balance between power output and battery capacity, suitable for various electric motorcycles and scooters. The 72V segment targets higher performance and longer range, appealing to consumers seeking enhanced capabilities for their electric two-wheelers. Additionally, there exists an ""Others Motor Powers"" segment encompassing electric vehicles with motor powers outside the specified categories, providing further diversity in the market. Lastly, segmentation by usage separates electric two-wheelers into commercial and private categories. Commercial electric vehicles are optimised for business-related activities such as delivery services and last-mile transportation, prioritising factors like range, durability, and carrying capacity to meet the demands of commercial users. In contrast, private electric two-wheelers target individual consumers for personal commuting, recreation, or general transportation purposes, offering flexibility and convenience for private use.

The booming delivery and taxi industry is expanding at an exponential rate, fueled by the rise of delivery services and electric taxi businesses. This trend represents a significant market potential that is ready for exploration and advancement. As the global shift toward environmentally friendly transportation options gains traction, demand for electric vehicles in these areas is projected to skyrocket. As a result, organisations working in this field stand to benefit greatly from tapping into this expanding market segment. Trade fairs and exhibits provide important opportunities for industry players to meet, share ideas, and demonstrate cutting-edge technology and developments. Expotransporte is an important event for promoting e-mobility solutions and developing collaboration among stakeholders. Companies who participate in such events can not only acquire vital insights into market trends and customer preferences, but also form strategic alliances and increase their brand exposure within the industry. Trade fairs and exhibits provide important opportunities for industry players to meet, share ideas, and demonstrate cutting-edge technology and developments. Expotransporte is a major event for promoting e-mobility solutions and establishing collaborations among stakeholders.E-bike pricing varies greatly, responding to a wide range of consumer preferences and budgetary considerations. Basic versions start about $1,500 USD, making them an economical option for budget-conscious consumers looking for urban mobility solutions. On the opposite end of the scale, high-performance scooters can cost up to $5,000 USD, appealing to buyers ready to pay for premium amenities, improved performance, and increased range.

Traditional motorcycle dealerships are benefiting on the growing popularity of e-bikes by expanding their offers to include electric vehicles. This transition reflects an understanding of shifting customer tastes and the growing desire for environmentally friendly transportation solutions. Meanwhile, e-commerce platforms are becoming a popular sales channel for e-bikes, giving consumers easy access to a diverse selection of models and brands. The online sales trend is consistent with larger shifts in customer behaviour toward digital purchasing experiences. Together, these sales channels are increasing the accessibility and availability of e-bikes in the market, catering to a wide range of consumer preferences and boosting overall adoption of electric mobility solutions. In comparison to nations like Brazil, where the e-bike sector is more established, Colombia is still in its early stages of acceptance. However, Colombia's government's support for sustainable transportation measures, as well as its people's growing environmental awareness, position the country for major future growth in the e-bike market. Despite its early stage, Colombia has the potential to catch up with and even outperform its regional neighbours in terms of e-bike adoption, owing to its favourable socio-political situation and growing emphasis on environmental sustainability. The COVID-19 epidemic initially impacted Colombia's e-bike sector, causing a short drop in sales due to supply chain problems and an economic slump. However, underlying interest and demand for e-mobility solutions remained high during the crisis. As the situation stabilises and economic activity resumes, the market is expected to rebound quickly. The epidemic served as a catalyst for exposing the necessity of sustainable mobility solutions, which boosted the long-term prospects of Colombia's e-bike sector.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Electric Two-Wheeler market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Vehicle Type
• Electric Motorcycle
• Electric Scooter

By Battery
• Sealed Lead Acid (SLA)
• Lithium-Ion

By Motor Power
• 48 V
• 60 V
• 72 V
• Others

By Usage
• Commercial
• Private

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Electric Two-Wheeler industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.