New York, US, May 03, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Electric two-wheelers Market Research Report Information by Type, Region, Battery Type, and Voltage - Forecast Till 2030, the global Electric two-wheelers market is predicted to bolter substantially during the assessment timeframe from 2022 to 2030 a healthy growth rate of approximately 34.57%. The reports further project the market to attain a valuation of around USD 100215.04 Million by the end of 2030.
Electric two-wheelers Market Overview:
The global market for Electric two-wheelers has recently displayed massive development. The main aspect causing a surge in the performance of the market is the enhanced adoption of the electric two-wheeler. Furthermore, government-led electrification programs are also anticipated to enhance market performance over the coming years.
Competitive Analysis
The listing of the prominent leaders across the global electric two-wheelers market includes players such as:
- Jiangsu Xinri E-Vehicle Co. Ltd (China)
- Energica Motor Company S.p.A. ( Italy)
- Ampere Vehicles (India)
- Niu International (China)
- Vmoto Limited (Australia)
- China Zhongneng Vehicle Group Co. (China)
- Hero Electric(India)
- Zero Motorcycles Inc (US)
- GOVECS AG (Germany)
- Wuxi YADEA Export-Import Co. Ltd (China)
- Among others.
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Electric two-wheelers Market COVID-19 Impact
Global industrial activities and business operations experienced a major setback given to the rise of the global health crisis in the form of COVID-19. The pandemic affected public health across nearly 225 countries, along with all industrial operations. All these situations led to the imposition of full or partial lockdowns across most regions worldwide. Subsequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for construction activities during the pandemic and the halt of most industrial operations, the Electric two-wheelers market experienced many sudden & unexpected issues throughout the pandemic. On the contrary, now that the majority of the globe is being rapidly vaccinated and industrial operations are returning to normal, the Electric two-wheelers Market is predicted to witness a considerable expansion and recovery in revenue generation over the assessment period.
Electric two-wheelers Market Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 100215.04 Million |
| CAGR during 2022-2030 | 34.57% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Battery Type, Voltage and Region |
| Key Market Opportunities | Rising environmental consciousness to boost market |
| Key Market Dynamics | Increased adoption of electric two-wheeler Rising government led electrification programmes |
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Electric two-wheelers Market USP Covered
Market Drivers
The global market for Electric two-wheelers has recently presented massive expansion. The principal aspect causing a surge in the performance of the market is the enhanced adoption of the electric two-wheeler. Furthermore, government-led electrification programs are also anticipated to enhance market performance over the coming years.
Market Restraints
On the other hand, some parameters may impede the market's growth. The primary parameter restricting the market's growth is the high initial cost.
Electric two-wheelers Market Segment Analysis
Among all the types, the electric scooter segment secured the top position across the global market for electric two-wheelers in the year 2021. The main aspect causing a rise in the segment's performance is the increasing availability of several electric scooter models. Furthermore, their earlier debut and lower rates in significant geographic regions across the globe are also anticipated to boost-up the demand for these scooters over the coming years.
Among all the battery types, the lithium-ion segment ensured the top spot across the global electric two-wheeler market in 2021. The main aspect causing a rise in the segment's performance is that it is less expensive and more compatible. Furthermore, the original equipment manufacturers (OEMs) are growingly choosing environmentally friendly Li-ion batteries as they offer several advantages.
Among all the voltage types, the 48V segment secured the top spot across the global electric two-wheeler market in 2021. The main aspect causing a rise in the segment's performance is the superior benefit-to-cost ratio, sturdy bodies & improved aesthetics.
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Electric two-wheelers Market Regional Analysis
The Global Electric two-wheelers market is analyzed across five major geographies: South America, the APAC region, the Middle East & Africa, the European nations, and North America.
The research reports by MRFR suggest that the Asia Pacific region secured the top position across the global Electric two-wheelers market in 2021 with the largest revenue contribution. The regional market is predicted to grow substantially during the assessment timeframe, with a healthy growth rate of around 42.6%. The main parameter supporting the development of the regional market is the rising urbanization across the emerging nations in the region. Furthermore, the increasing per capita income is also believed to be one of the crucial parameters supporting the expansion of the regional market. Moreover, the supportive government regulations for electric cars are also causing a significant rise in the adoption of electric two-wheeler and the development of the regional market.
The European regional market for electric two-wheelers is anticipated to exhibit a considerable CAGR over the assessment period. The main parameter supporting the regional market's development is the area's rapid urbanization. The regional governments are operating to adopt effective and sustainable mobility solutions, such as electric two-wheeler, to deal with these issues and satisfy the expectations of a developing number of daily commuters. Furthermore, the region has Germany as the leading market for electric two-wheelers. At the same time, the UK is anticipated to showcase the highest growth rate over the coming years.
The North American electric two-wheeler market is anticipated to expand considerably over the assessment era. The rapid development in electric two-wheeler sales in the US during the pandemic, coupled with the enhanced investments by shared mobility players in electric two-wheeler companies, is considered the primary parameter supporting the market development across the region.
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Furthermore, the falling battery prices in the US and the rising efforts by major two-wheeler companies in the US to launch advanced two-wheelers are also projected to catalyze market growth over the review timeframe.
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