Global Electric Two-Wheeler Market Accelerates Toward Bright Future 2030

The global electric two-wheeler market is gearing up for an electrifying journey, poised to surge at an impressive 12% Compound Annual Growth Rate (CAGR) between 2023 and 2030. By the close of this decade, it is projected to reach a staggering market value exceeding US$80 billion.

Read More: https://www.fairfieldmarketresearch.com/report/electric-two-wheeler-market

Market Insights

Electric two-wheelers, encompassing electric scooters and motorcycles, have emerged as a gamechanger in urban transportation. Their appeal lies in their eco-friendliness, cost-efficiency, and noise reduction, making them a sought-after choice. A myriad of factors, including advancements in battery technology, government incentives, and the volatile nature of petrol prices, are fueling the demand for these electric marvels.

Key Report Highlights

1. Remarkable Expansion: The electric two-wheeler market is set to witness significant growth from 2023 to 2030.

2. Scooter Surge: Electric scooters are driving the market's growth.

3. Hub Motors Lead: Hub motors continue to be the preferred choice in this burgeoning market.

4. Dominant Segments: In 2022, the 48V category and lithium-ion batteries dominated the market in terms of revenue.

5. Regional Dynamics: Asia Pacific maintains its lead, while North America experiences the most robust growth until 2030.

Driving Forces

Battery Swapping Technology: The advent of battery swapping technology is reshaping the landscape of electric vehicles, alleviating range anxiety and enhancing convenience for drivers. Government policies and investments are catalyzing this transformation.

Surging Sales of Electric Motorbikes and E-bikes: Escalating traffic congestion and the need for efficient urban commuting are propelling the demand for lightweight electric vehicles, including electric motorbikes and bicycles. Initiatives like favorable tax policies are boosting their adoption.

Challenges

Performance, Range, and Design: Electric motorcycles and scooters are evolving, but they have yet to match the power and efficiency of their conventional counterparts. Range limitations remain a hurdle for consumers with longer commutes.

Key Segments

E-scooter Dominance: E-scooters and mopeds are expected to dominate the electric scooter and motorcycle market due to their affordability and suitability for everyday commuting.

Lithium-ion Battery Supremacy: Lithium-ion batteries are set to maintain their dominance, offering higher energy density, longer lifespans, and improved performance.

Regional Opportunities

Asia Pacific's Green Revolution: The Asia Pacific region is at the forefront of adopting electric twowheelers due to environmental concerns and government incentives, making these eco-friendly options more accessible.

North America's Ascension: North America is poised for substantial growth, driven by falling battery prices, investments in shared mobility, and major manufacturers' efforts to introduce electric twowheelers.

Competitive Landscape

Leading players in the electric two-wheeler market include Yadea Group Holdings Ltd., Silence Urban Ecomobility, Niu Technologies, Segway Inc., Hero Electric Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ather Energy Pvt. Ltd., AIMA Technology Co., Ltd., Ola Electric Mobility Pvt Ltd., Pure Electric, Piaggio & C. SpA, and BMW North America, LLC.

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