New York, Nov. 12, 2021 (GLOBE NEWSWIRE) -- Electric Two-Wheeler Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Electric Two-Wheeler Market Research Report, Type, Battery Type, Voltage and Region - Forecast till 2030” the market in terms of value is estimated to register 24.57% CAGR during the forecast period 2022-2030.
List of the companies profiled in the electric two-wheeler market are –
- Wuxi YADEA Export-Import Co. Ltd (China)
- Jiangsu Xinri E-Vehicle Co. Ltd (China)
- Vmoto Limited (Australia)
- GOVECS AG (Germany)
- Energica Motor Company S.p.A (Italy)
- China Zhongneng Vehicle Group Co. Ltd (China)
- Hero Electric (India)
- Niu International (China)
- Ampere Vehicles (India)
- Zero Motorcycles Inc. (US)
- Among others.
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Market Research Future’s Review on Electric Two-Wheeler Market
Low operating and maintenance costs
The rising cost of petroleum products is one of the most fundamental elements driving the electric scooter and motorcycle market. The rising cost of gas is already having an impact on consumers in developing countries. The use of electric two-wheelers will undoubtedly cut the running costs of these vehicles. These two-wheelers are more fuel-efficient than traditional models. Electric scooters and motorbikes with a greater range than the present generation of electric two-wheelers are expected to be developed by manufacturers. Maintenance will be minimal because there are fewer moving components than on conventional two-wheelers. The most expensive maintenance cost would be the cost of replacing the battery, which is not done frequently.
Browse In-depth Market Research Report (188 pages) on Electric Two-Wheeler
https://www.marketresearchfuture.com/reports/electric-two-wheeler-market-5456
The Global Market to Rebound Amid COVID-19 Pandemic
The original outbreak of COVID 19 had disturbed the whole ecosystem, halting the production and sale of new automobiles around the world. OEMs had to wait until lockdowns were lifted before they could resume manufacturing, which had an impact on their operations. As a result, vehicle manufacturers would have to adjust production volume. Additionally, component manufacturing has been halted, and tiny Tier II and Tier III manufacturers may suffer liquidity concerns. The automotive sector is highly capital-intensive and requires constant funding to stay in business. As a result, the production halt during the outbreak, combined with weaker demand, will have an extraordinary impact on electric scooter and motorcycle manufacturers.
Due to the COVID-19 outbreak, numerous countries ordered a complete lockdown lasting more than two months, affecting vehicle production. Manufacturing plants around the world have been closed, and automobile sales have plummeted. The majority of automakers, however, resumed vehicle manufacturing with limited production and essential measures.
Market Segmentation
The worldwide electric two-wheeler market has been segmented based on type, battery type, and voltage.
On the basis of type, the worldwide electric two-wheeler market has been segmented into electric motorcycles and electric scooters.
By battery type, the worldwide electric two-wheeler market has been segmented as sealed lead acid, lithium-ion, and others.
On the basis of voltage, the worldwide electric two-wheeler market has been segmented into 24V, 36V, 48V, and more than 48V.
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Regional Analysis
APAC to Lead the Global Market
Due to the presence of China, India, and Japan, Asia Pacific is likely to dominate the electric two-wheeler industry. The region's developing countries are acknowledged as the global market leaders for electric two-wheelers and electric two-wheeler parts. Furthermore, tourist demand for electric two-wheelers propels the market during the forecast period. China is a major producer of electric two-wheelers in the Asia Pacific. The Development and Reform Commission of China launched a new USD 47 billion funds in 2018 to encourage the development of electric vehicle (EV) technologies. Companies in the country hope to cut the costs of electric two-wheelers in order to meet domestic and worldwide demand.
Europe to Follow North America
In the global electric two-wheeler market, Europe had the second greatest market share. The government's ongoing efforts to minimize greenhouse gas emissions are likely to fuel demand for electric two-wheelers in the region throughout the predicted period. Domestic manufacturers' efforts to produce lighter, more energy-efficient two-wheeler alternatives for consumers. Furthermore, the growing concern about rising carbon emissions, the low maintenance cost of electric two-wheelers, and a favorable regulatory environment are projected to boost the adoption of green mobility vehicles, creating attractive prospects for the leading players in electric two-wheelers.
Segmentation of Market covered in the research:
Electric Two-Wheeler Market Research Report: Information by Type (Electric Motorcycle and Electric Scooter), Battery Type (Sealed Lead Acid, Lithium-Ion and others), Voltage (24V, 36V, 48V and more than 48V) and Region - Forecast till 2030
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
