Electric Two-Wheeler Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Motorcycle, Electric Scooter, Electric Kick Scooter, Others), By Motor Placement, By Motor Power, By Battery Type, By Region, Segments & Forecast, 2023 –

Electric Two-Wheeler Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Motorcycle, Electric Scooter, Electric Kick Scooter, Others), By Motor Placement, By Motor Power, By Battery Type, By Region, Segments & Forecast, 2023 – 2032

The global electric two-wheeler market size is expected treach USD 45,877.71 Million by 2032, according ta new study by Polaris Market Research. The report “Electric Two-Wheeler Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Electric Motorcycle, Electric Scooter, Electric Kick Scooter, Others), By Motor Placement, By Motor Power, By Battery Type, By Region, Segments & Forecast, 2019 – 2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

The growth of electric two-wheelers is driven by various supportive reasons, such as rising concerns for emission-free vehicles, increasing fuel prices, and lower maintenance costs over traditional petroleum-based vehicles. Favorable government regulations, incentives, and other technological advancements in the EV ecosystem have remained other driving forces for the market in the forecast period.

Electric two-wheelers are vehicles powered by electric motors and batteries rather than gasoline or diesel engines. They are a popular form of transportation in many parts of the world and are seen as a cleaner and more sustainable alternative ttraditional vehicles.

Electric two-wheelers offer several benefits over gasoline-based transportation, including being environmentally friendly, cost-effective, and convenient. They are quieter, more energy-efficient, and perform better than traditional gasoline or petroleum-based vehicles. Electric two-wheelers produce zeremissions, which is great for the environment. Further, EV two-wheelers are cheaper trun and maintain than gasoline-based vehicles. They have lower operating costs as they require less maintenance, and electricity is generally more affordable than gasoline.

Higher initial costs, limited range, lack of charging infrastructure, inefficient battery technology, safety concerns, and limited model options are the key restraining factors for the market growth in the forecast period.

In the short run, the pandemic has hampered the EV two-wheelers market. Supply chain disruptions, reduction in consumer demand, and halt of vehicle production are some areas that were affected due tmeasures taken tcurb the pandemic virus. In contrast, the post-pandemic period has caused a steep recovery of the EV two-wheelers market owing tfactors including increased awareness of the need treduce the carbon footprint caused by vehicles, more focus from government authorities toward the sustainable mobility sector, and improved battery management technology.

Report Highlights

The Electric Motorcycle segment is accounted twitness a considerable CAGR in the forecast period. Major benefits accounted for the segment's growth, such as higher speed and range, more comfortable riding positions, greater power and performance, and better customizable designs.

The Hub motor segment is projected tgrow the fastest in the forecast period. The growth of the hub motor segment in the electric 2-wheeler market is driven by a combination of factors, including improved technology, greater efficiency, and a simplified design.

The Lithium-Ion battery segment accounted for the highest market share in 2022. The segment's growth can be attributed tits various benefits, such as a greater range of battery backup, fast charging, lower costs, and other environmental benefits.

The Asia Pacific region is projected taccount for a major market share in the forecast period. The segment is expected tgrow in the coming years, driven by better-charging infrastructures, rising prices of petroleum and gasoline products, and supportive government schemes for manufacturers and end-consumers.

Polaris Market Research has segmented the electric two-wheeler market report based on vehicle type, motor placement, motor power, battery type and region:

Electric Two-Wheeler Market, Vehicle Type Outlook (Volume – Thousand Units, Revenue - USD Million, 2019 - 2032)

Electric Motorcycle

Electric Scooter

Electric Kick Scooter

Others

Electric Two-Wheeler Market, Motor Placement Outlook (Volume – Thousand Units, Revenue - USD Million, 2019 - 2032)

Hub Motor

Frame-mounted Motor

Electric Two-Wheeler Market, Motor Power Outlook (Volume – Thousand Units, Revenue - USD Million, 2019 - 2032)

48V

60V

72V

Others

Electric Two-Wheeler Market, Battery Type Outlook (Volume – Thousand Units, Revenue - USD Million, 2019 - 2032)

Lithium-Ion

Lead-acid

Lithium iron phosphate

Others

Electric Two-Wheeler Market, Regional Outlook (Volume – Thousand Units, Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa