NEW YORK, June 30, 2023 /PRNewswire/ — The electric two-wheeler market size is estimated to grow by USD 36,605.79 million from 2022 to 2027. The market is estimated to progress at a CAGR of 15.72% according to Technavio. Download a Sample Report Now!
Electric two-wheeler market Insights –
Technavio has announced its latest market research report titled Global Electric Two-Wheeler Market 2023-2027
Vendors: 15+, Including Aima Technology Group Co. Ltd., ANI Technologies Pvt. Ltd., Ather Energy Pvt. Ltd., Bayerische Motoren Werke AG, Bounce Infinity, Cake 0 Emission AB, Damon Motors Inc., Energica Motor Company Spa, Gogoro Inc., GOVECS AG, Hero Electric Vehicles Pvt. Ltd, Jiangsu Xinri E Vehicle Co. Ltd., Mahindra and Mahindra Ltd., Piaggio and C. Spa, Terra Motors Corp., VinFast LLC, Vmoto Ltd., Yadea Group Holdings Ltd, Zero Motorcycles Inc., Harley Davidson Inc., Hero MotoCorp Ltd., Honda Motor Co. Ltd., Okinawa Autotech Internationall Pvt. Ltd., and Yulu Bikes Pvt. Ltd., among others
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: Battery Type (Lithium- ion battery, Sealed-lead acid battery, and Others), Vehicle Type (E-scooter and E-bike), and Geography (APAC, Europe, North America, South America, and Middle East and Africa)
To understand more about the Electric two-wheeler market, request a sample report
Electric two-wheeler market – Vendor Insights
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including Aima Technology Group Co. Ltd., ANI Technologies Pvt. Ltd., Ather Energy Pvt. Ltd., Bayerische Motoren Werke AG, Bounce Infinity, Cake 0 Emission AB, Damon Motors Inc., Energica Motor Company Spa, Gogoro Inc., GOVECS AG, Hero Electric Vehicles Pvt. Ltd, Jiangsu Xinri E Vehicle Co. Ltd., Mahindra and Mahindra Ltd., Piaggio and C. Spa, Terra Motors Corp., VinFast LLC, Vmoto Ltd., Yadea Group Holdings Ltd, Zero Motorcycles Inc., Harley Davidson Inc., Hero MotoCorp Ltd., Honda Motor Co. Ltd., Okinawa Autotech Internationall Pvt. Ltd., and Yulu Bikes Pvt. Ltd.
Electric two-wheeler market – Market Dynamics
Major Drivers –
An increase in demand for electric two-wheelers drives the growth of the market during the forecast period. These days, people are more aware of the environmental condition and the impact of their actions on it. As a result of this realization, they are switching to eco-friendly alternatives such as electric two-wheelers.
Their low running costs, in contrast to gasoline vehicles, drive the demand for electric motorcycles. This is because they do not need to buy fuel, which can be expensive in the long run. Instead of fuel, they are powered by a battery that can be recharged with electricity from a socket. As a result, the operating costs of electric motorcycles are significantly lower than those of gasoline motorcycles. Hence, such factors drive the demand for the electric two-wheeler market during the forecast period.
Significant Trends –
The use of the Internet of Things and smart infrastructure in electric two-wheeler charging stations for load management is an emerging market trend. Load management is important since many e-bikes charge their batteries at the same time, which increases the load on the charging station infrastructure. Using advanced technologies like IoT and intelligent infrastructure, these stations can effectively handle load management. Thus, these can be deployed to address these and many other challenges.
For instance, some cities such as Amsterdam and Barcelona already have smart charging systems in which charging stations are connected to a central control system. These systems can be monitored and managed remotely, which allows stations to operate more efficiently, provide real-time data on energy consumption, and enable peak load management. Hence, such trends are expected to boost the growth of the market during the forecast period.
Key challenges –
The high cost of electric two-wheelers challenges the growth of the market during the forecast period. Electric two-wheelers are the future of personal mobility. This is because they reduce pollution and have the potential to reduce our dependence on fossil fuels. But their high cost limits their accessibility for most people.
The initial cost of ownership of an electric scooter may seem low. However, it is important to note that the replacement cost of the lithium-ion battery, which makes up the majority of the cost of an electric scooter. The replacement ranges from USD 275 to USD 345. On the other hand, gas-powered scooters like the Honda Activa 6G made by Honda Motor Co., Ltd. (Honda) are made for around USD 920. Also, the cost of a petrol scooter engine is negligible. Hence, such factors impede market growth during the forecast period.
The electric two-wheeler market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this electric two-wheeler market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the electric two-wheeler market between 2023 and 2027
Precise estimation of the size of the electric two-wheeler market and its contribution to the market with a focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the electric two-wheeler market across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of electric two-wheeler market vendors
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Electric Two-Wheeler Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.72% |
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Market growth 2023-2027 |
USD 36,605.79 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
13.24 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 70% |
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Key countries |
US, China, India, Japan, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aima Technology Group Co. Ltd., ANI Technologies Pvt. Ltd., Ather Energy Pvt. Ltd., Bayerische Motoren Werke AG, Bounce Infinity, Cake 0 Emission AB, Damon Motors Inc., Energica Motor Company Spa, Gogoro Inc., GOVECS AG, Hero Electric Vehicles Pvt. Ltd, Jiangsu Xinri E Vehicle Co. Ltd., Mahindra and Mahindra Ltd., Piaggio and C. Spa, Terra Motors Corp., VinFast LLC, Vmoto Ltd., Yadea Group Holdings Ltd, Zero Motorcycles Inc., Harley Davidson Inc., Hero MotoCorp Ltd., Honda Motor Co. Ltd., Okinawa Autotech Internationall Pvt. Ltd., and Yulu Bikes Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Battery Type
Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global electric two-wheeler market 2017 – 2021
Exhibit 18: Historic Market Size – Data Table on global electric two-wheeler market 2017 – 2021 ($ million)
4.2 Battery Type Segment Analysis 2017 – 2021
Exhibit 19: Historic Market Size – Battery Type Segment 2017 – 2021 ($ million)
4.3 Vehicle Type Segment Analysis 2017 – 2021
Exhibit 20: Historic Market Size – Vehicle Type Segment 2017 – 2021 ($ million)
4.4 Geography Segment Analysis 2017 – 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
4.5 Country Segment Analysis 2017 – 2021
Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Battery Type
6.1 Market segments
Exhibit 30: Chart on Battery Type – Market share 2022-2027 (%)
Exhibit 31: Data Table on Battery Type – Market share 2022-2027 (%)
6.2 Comparison by Battery Type
Exhibit 32: Chart on Comparison by Battery Type
Exhibit 33: Data Table on Comparison by Battery Type
6.3 Lithium- ion battery – Market size and forecast 2022-2027
Exhibit 34: Chart on Lithium- ion battery – Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Lithium- ion battery – Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Lithium- ion battery – Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Lithium- ion battery – Year-over-year growth 2022-2027 (%)
6.4 Sealed-lead acid battery – Market size and forecast 2022-2027
Exhibit 38: Chart on Sealed-lead acid battery – Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Sealed-lead acid battery – Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Sealed-lead acid battery – Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Sealed-lead acid battery – Year-over-year growth 2022-2027 (%)
6.5 Others – Market size and forecast 2022-2027
Exhibit 42: Chart on Others – Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Others – Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Others – Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Others – Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by Battery Type
Exhibit 46: Market opportunity by Battery Type ($ million)
Exhibit 47: Data Table on Market opportunity by Battery Type ($ million)
7 Market Segmentation by Vehicle Type
7.1 Market segments
Exhibit 48: Chart on Vehicle Type – Market share 2022-2027 (%)
Exhibit 49: Data Table on Vehicle Type – Market share 2022-2027 (%)
7.2 Comparison by Vehicle Type
Exhibit 50: Chart on Comparison by Vehicle Type
Exhibit 51: Data Table on Comparison by Vehicle Type
7.3 E-scooter – Market size and forecast 2022-2027
Exhibit 52: Chart on E-scooter – Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on E-scooter – Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on E-scooter – Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on E-scooter – Year-over-year growth 2022-2027 (%)
7.4 E-bike – Market size and forecast 2022-2027
Exhibit 56: Chart on E-bike – Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on E-bike – Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on E-bike – Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on E-bike – Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Vehicle Type
Exhibit 60: Market opportunity by Vehicle Type ($ million)
Exhibit 61: Data Table on Market opportunity by Vehicle Type ($ million)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 63: Chart on Market share by geography 2022-2027 (%)
Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison
Exhibit 66: Data Table on Geographic comparison
9.3 APAC – Market size and forecast 2022-2027
Exhibit 67: Chart on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 68: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
Exhibit 69: Chart on APAC – Year-over-year growth 2022-2027 (%)
Exhibit 70: Data Table on APAC – Year-over-year growth 2022-2027 (%)
9.4 Europe – Market size and forecast 2022-2027
Exhibit 71: Chart on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on Europe – Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on Europe – Year-over-year growth 2022-2027 (%)
9.5 North America – Market size and forecast 2022-2027
Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)
9.6 South America – Market size and forecast 2022-2027
Exhibit 79: Chart on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on South America – Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on South America – Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on South America – Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa – Market size and forecast 2022-2027
Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
9.8 China – Market size and forecast 2022-2027
Exhibit 87: Chart on China – Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on China – Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on China – Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on China – Year-over-year growth 2022-2027 (%)
9.9 India – Market size and forecast 2022-2027
Exhibit 91: Chart on India – Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on India – Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on India – Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on India – Year-over-year growth 2022-2027 (%)
9.10 Japan – Market size and forecast 2022-2027
Exhibit 95: Chart on Japan – Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on Japan – Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on Japan – Year-over-year growth 2022-2027 (%)
9.11 US – Market size and forecast 2022-2027
Exhibit 99: Chart on US – Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on US – Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on US – Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on US – Year-over-year growth 2022-2027 (%)
9.12 UK – Market size and forecast 2022-2027
Exhibit 103: Chart on UK – Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 107: Market opportunity by geography ($ million)
Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 111: Overview on factors of disruption
11.4 Industry risks
Exhibit 112: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 Aima Technology Group Co. Ltd.
Exhibit 115: Aima Technology Group Co. Ltd. – Overview
Exhibit 116: Aima Technology Group Co. Ltd. – Product / Service
Exhibit 117: Aima Technology Group Co. Ltd. – Key offerings
12.4 ANI Technologies Pvt. Ltd.
Exhibit 118: ANI Technologies Pvt. Ltd. – Overview
Exhibit 119: ANI Technologies Pvt. Ltd. – Product / Service
Exhibit 120: ANI Technologies Pvt. Ltd. – Key offerings
12.5 Ather Energy Pvt. Ltd.
Exhibit 121: Ather Energy Pvt. Ltd. – Overview
Exhibit 122: Ather Energy Pvt. Ltd. – Product / Service
Exhibit 123: Ather Energy Pvt. Ltd. – Key offerings
12.6 Bayerische Motoren Werke AG
Exhibit 124: Bayerische Motoren Werke AG – Overview
Exhibit 125: Bayerische Motoren Werke AG – Business segments
Exhibit 126: Bayerische Motoren Werke AG – Key news
Exhibit 127: Bayerische Motoren Werke AG – Key offerings
Exhibit 128: Bayerische Motoren Werke AG – Segment focus
12.7 Energica Motor Company Spa
Exhibit 129: Energica Motor Company Spa – Overview
Exhibit 130: Energica Motor Company Spa – Product / Service
Exhibit 131: Energica Motor Company Spa – Key news
Exhibit 132: Energica Motor Company Spa – Key offerings
12.8 Gogoro Inc.
Exhibit 133: Gogoro Inc. – Overview
Exhibit 134: Gogoro Inc. – Product / Service
Exhibit 135: Gogoro Inc. – Key offerings
12.9 GOVECS AG
Exhibit 136: GOVECS AG – Overview
Exhibit 137: GOVECS AG – Product / Service
Exhibit 138: GOVECS AG – Key offerings
12.10 Hero Electric Vehicles Pvt. Ltd
Exhibit 139: Hero Electric Vehicles Pvt. Ltd – Overview
Exhibit 140: Hero Electric Vehicles Pvt. Ltd – Business segments
Exhibit 141: Hero Electric Vehicles Pvt. Ltd – Key offerings
Exhibit 142: Hero Electric Vehicles Pvt. Ltd – Segment focus
12.11 Jiangsu Xinri E Vehicle Co. Ltd.
Exhibit 143: Jiangsu Xinri E Vehicle Co. Ltd. – Overview
Exhibit 144: Jiangsu Xinri E Vehicle Co. Ltd. – Product / Service
Exhibit 145: Jiangsu Xinri E Vehicle Co. Ltd. – Key offerings
12.12 Mahindra and Mahindra Ltd.
Exhibit 146: Mahindra and Mahindra Ltd. – Overview
Exhibit 147: Mahindra and Mahindra Ltd. – Business segments
Exhibit 148: Mahindra and Mahindra Ltd. – Key news
Exhibit 149: Mahindra and Mahindra Ltd. – Key offerings
Exhibit 150: Mahindra and Mahindra Ltd. – Segment focus
12.13 Piaggio and C. Spa
Exhibit 151: Piaggio and C. Spa – Overview
Exhibit 152: Piaggio and C. Spa – Business segments
Exhibit 153: Piaggio and C. Spa – Key offerings
Exhibit 154: Piaggio and C. Spa – Segment focus
12.14 Terra Motors Corp.
Exhibit 155: Terra Motors Corp. – Overview
Exhibit 156: Terra Motors Corp. – Product / Service
Exhibit 157: Terra Motors Corp. – Key offerings
12.15 Vmoto Ltd.
Exhibit 158: Vmoto Ltd. – Overview
Exhibit 159: Vmoto Ltd. – Business segments
Exhibit 160: Vmoto Ltd. – Key offerings
Exhibit 161: Vmoto Ltd. – Segment focus
12.16 Yadea Group Holdings Ltd
Exhibit 162: Yadea Group Holdings Ltd – Overview
Exhibit 163: Yadea Group Holdings Ltd – Product / Service
Exhibit 164: Yadea Group Holdings Ltd – Key offerings
12.17 Zero Motorcycles Inc.
Exhibit 165: Zero Motorcycles Inc. – Overview
Exhibit 166: Zero Motorcycles Inc. – Product / Service
Exhibit 167: Zero Motorcycles Inc. – Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 168: Inclusions checklist
Exhibit 169: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 170: Currency conversion rates for US$
13.4 Research methodology
Exhibit 171: Research methodology
Exhibit 172: Validation techniques employed for market sizing
Exhibit 173: Information sources
13.5 List of abbreviations
Exhibit 174: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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