Asia-Pacific Electric Two-Wheeler Market

Asia-Pacific Electric Two-Wheeler Market

Asia Pacific Electric Two-Wheeler Market is growing due to the increase in the demand for electric vehicles across the region, and the rise in the adoption of electric two-wheeler is also because of the less maintenance cost of these vehicles.

Recent Developments

The growing emissions standards are leading the industry to focus on sustainable products, leading to the growth of the electric two-wheeler segment. In the Asia-Pacific region, China, India, Japan, and other countries are witnessing a rise in innovations and product launches in the electric two-wheeler category. Similarly, many new startups and joint ventures in the region are taking shape. Companies like Zhejiang Minimotors Bike Co., Ltd., Ather Energy, Hero Electric Vehicles Pvt. Ltd., Gogoro Inc., Revolt Motors, etc. are involved in developing electric two-wheelers in the region, and similarly, the established players in the region are also investing in the market. Recently India based startup Ultraviolette Automotive Pvt Ltd has launched a high-end electric motorcycle named F77 with a range of around 300km. All such developments in the market will generate new opportunities in the region.

In Asia-Pacific, many nations are offering subsidies for electric vehicles, and the rise in demand for electric vehicles is also because of the lower maintenance and operational cost of these vehicles. Long-term automotive market trends are anticipated to include electrification and green technologies. In the region, the use of electric two-wheelers has advanced significantly to increase commuter effectiveness and reduce air pollution. The adoption of green vehicles and the implementation of emission standard upgrades are expanding the market for electric two-wheelers in the Asia Pacific.

The demand for first-mile, last-mile, and short-distance travel solutions is another element propelling the market expansion. Customers' daily routines tend to be more fixed, particularly for people who commute to and from work every day on electric two-wheelers. Their primary concerns are safety, comfort, cost, and cost-effectiveness, and electric vehicles are the best alternative for them. The market for electric two-wheelers is expanding due to the demand for online food delivery and package delivery. Riders prefer to use electric two-wheelers because they are faster than two-wheel bicycles and are more efficient. The market for electric two-wheelers is expanding because of technological advancements in battery charging, battery swapping, and other infrastructure expansions.

Less Operational and Maintenance Costs

An electric motor, controller, and battery pack are used instead of complex oily components like the engine, fuel lines, and tank. Compared to an Internal Combustion Engine vehicle, an electric drivetrain is much simpler because there are fewer moving parts. However, other ancillary systems like the cooling system, steering system, brakes, and suspension remain largely unchanged in EVs, which is an aspect that is decreasing the total cost of ownership vehicles. Due to increased manufacturing capacity and infrastructure improvements, which are expected to lower battery prices in the coming years, Asia-Pacific currently accounts for a large portion of the world's sales of electric two-wheelers. This will increase the demand for electric two-wheelers while also lowering their price. As two-wheelers have lower operating costs than other types of vehicles, the last-mile delivery industry is also expected to adopt electric two-wheelers. All these factors will increase the demand for the electric two-wheelers in the region.

Government Incentives and Subsidies

Many different countries in the region are promoting the use of electric vehicles by offering incentives to new electric vehicle owners and manufacturers. Additionally, many regional governments in the area are providing benefits and other subsidies to developing infrastructure and charging service providers to increase the adoption of electric vehicles. The governments of various nations in the region are putting in place an infrastructure for two-wheeler charging, such as Gogoro, which will establish battery-swapping facilities in the Philippines, and they are also introducing policies to encourage the use of electric vehicles in nations like India, China, Indonesia, Vietnam, and other nations in the Asia-Pacific. Government subsidies are promoting the use of electric vehicles in the region, and in the coming years, the adoption of electric vehicles will increase.

Lack of Adequate Charging Infrastructure

In the electric two-wheeler segment, battery swapping reduces charging time and is highly preferred in the region, but its adoption is hampered by a lack of infrastructure and battery standards in the region. The slow infrastructure development in rural areas may be the cause of its slow growth. Similarly to this, the countries' lack of defined charging standards and the use of universal batteries for all vehicles pose growth challenges. Electric vehicle charging infrastructure is being developed in nations like India, China, and Japan.

COVID-19 also had a negative effect on the sector as it hindered all manufacturing and operational activities in the sector; all setup operations for charging stations were halted as a result of lockdowns and other restrictions imposed by various regional governments. In the forecast years, the charging infrastructure will grow, and this will help the electric two-wheeler market in the region to grow.

Market Segmentation

The Asia-Pacific Electric Two-Wheeler Market is segmented by Vehicle Type, Battery Capacity, Battery Type, and by Country. Based on Vehicle Type, the market is segmented into Scooters/Moped and Motorcycle. Based on Battery Capacity, the market is segmented into <25Ah & >25Ah. Based on Battery Type, the market is segmented into Lead Acid & Li-ion. The market analysis also studies country-wise segmentation to devise the market.

Company Profiles

Zhejiang Luyuan Electric Vehicle, Dongguan Tailing Electric Vehicle Co. Ltd., Shandong Incalcu Electric Vehicle Co. Ltd, Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Gogoro Inc, Zero Motorcycles, Inc, Yadea Group Holdings ltd, Revolt motors, and Ather Energy Pvt. Ltd. are the leading companies in the Asia Pacific market, developing electric two-wheelers. There are several other start-ups that are also developing efficient electric two-wheelers in the region.

Report Scope:

In this report, Asia-Pacific Electric Two-Wheeler Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

• Asia-Pacific Electric Two-Wheeler Market, By Vehicle Type:
• Scooter/Moped
• Motorcycle
• Asia-Pacific Electric Two-Wheeler Market, By Battery Capacity:
• <25Ah
• >25Ah
• Asia-Pacific Electric Two-Wheeler Market, By Battery Type:
• Lead Acid
• Li-ion
• Asia-Pacific Electric Two-Wheeler Market, By Country:
• China
• India
• Japan
• Malaysia
• Indonesia
• Thailand
• Vietnam
• Singapore
• South Korea
• Taiwan
• Rest of Asia-Pacific

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia-Pacific Electric Two-Wheeler Market.

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights