Global electric two wheeler market stood at USD12 billion in 2019 and is forecast to grow at a CAGR of more than 9% during 2021-2026, backed by increasing government initiatives towards controlling rising air pollution levels. Governments across the globe are providing support in the form of incentives, subsides and schemes to encourage the manufacturing and adoption of electric two-wheelers. Growing purchasing power and rising urbanization in major developing countries, in addition to increasing focus of leading vehicle manufacturers towards developing technologically advanced products with better performance and price competitiveness, is expected to positively influence global electric two-wheeler market during forecast period.

Global electric two-wheeler market is segmented by vehicle type, by battery capacity, by battery type, and by region. Based on battery type, the market is further categorized by vehicles that use lead acid or lithium ion. Growing awareness regarding the use of electric two-wheelers and promoting the use of lithium ion battery powered vehicles by the government is positively influencing the growth of the market. The lithium ion powered battery comes with advantages like high energy density and comparatively lower power loss. The dominance of Asia-Pacific can be attributed to rising awareness regarding clean environment and rapid expansion in electric two-wheeler production in the region. High population, rising per capita income, growing female rider population and increasing number of international players are some of the other factors that would drive the region’s electric two-wheeler market. 

Some of the leading players operating in global electric two-wheeler market are Yadea Group Holdings Ltd., AIMA Technology Co., Ltd, Zhejiang Luyuan Electric Vehicle, Jiangsu Xinri E-Vehicle Co.,Ltd, Dongguan Tailing Electric Vehicle Co., Ltd., Shandong Incalcu Electric Vehicle Co., Ltd, Hero Electric Vehicles Pvt Ltd, Okinawa Autotech Pvt. Ltd., Gogoro, Inc. and Zero Motorcycles, Inc.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

To analyze and forecast global electric two-wheeler market size.
To classify and forecast global electric two-wheeler market on the basis of vehicle type, battery type, battery capacity and region.
To identify drivers and challenges for global electric two-wheeler market.
To identify market trends & developments in global electric two-wheeler market.
To identify and analyze the profiles of leading players operating in global electric two-wheeler market.

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In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of electric two-wheeler manufacturers. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research was able to include system manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, regional network, and regional presence of all major electric two-wheeler companies across the world.

TechSci Research calculated global electric two-wheeler market size using a bottom-up technique, wherein the volume sales data for different vehicle type was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical data of respective companies to arrive at the overall market size. Multiple secondary sources such as directories, databases such as OICA, World Bank, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

Electric two-wheeler manufacturers, distributors and other stakeholders
Associations, organizations, forums and alliances related to electric two-wheelers
Government bodies such as regulating authorities and policymakers
Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as electric vehicle manufacturers, policymakers and other stakeholders. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.  

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In 2018, scooter/moped segment dominated global electric two-wheeler market and the segment is expected to maintain its leading market position in coming years, owing to growing number of female drivers and their maneuverability. Electric two-wheeler market is largely concentrated in the Asia-Pacific region, backed by huge two-wheeler market and growing adoption in countries such as China, Taiwan, Vietnam and India. Two-wheelers are widely preferred in Asia-Pacific mainly due to their low cost and maneuverability. Moreover, high population density in the region and rising urbanization in emerging economies is further contributing towards the growing demand for two-wheelers in the region. Europe is the second largest market for electric two-wheelers in the globe, on account of rising government support in the form of subsidies in countries such as Netherlands, France, Spain and Italy.

“Yadea is the leading player in global electric two-wheeler market, owing to its strong dealership and distribution network. Other major payers include AIMA, Zhejiang Luyuan and Jiangsu Xinri. Growth in demand for electric two-wheelers has been witnessed across the world in the past few years, primarily backed by increasing government initiatives to promote the use of electric two-wheelers.  Moreover, with continuously rising pollution levels, the need for cleaner automobiles with less emissions is bound to increase in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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