Electric Two Wheeler Market to Surpass $14 Billion by 2023
Growing concerns regarding
rising air pollution levels coupled with increasing affordability of electric
two-wheelers to boost global electric two-wheeler market through 2023
According to TechSci Research report, “Global
Electric Two-Wheeler Market By Vehicle Type, By Battery Capacity, By
Battery Type, By Region, Competition Forecast & Opportunities, 2013-2023”, the global
electric two-wheeler market is projected to cross $ 14 billion by 2023. Anticipated
growth in the global electric two-wheeler market is led by growing demand for
electric two-wheelers coupled with rising government support and initiatives to
promote use of electric two-wheelers across the globe. In addition, rising disposable
income in emerging economies like India and China is further encouraging people
to buy electric two-wheelers.
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In 2017, scooter/moped segment dominated the global electric
two-wheeler market with more than 85% volume share. The dominance of electric
scooters/mopeds is backed by growing number of female drivers. Electric two-wheeler
market is largely concentrated in the Asia-Pacific region owing to the region’s
massive two-wheeler sales. Two-wheelers
are widely preferred in Asia-Pacific mainly due to their low cost. Moreover, high population density in the region
and rising urbanization in emerging economies is further contributing to the
growing demand for two-wheelers. Asia-Pacific region is followed by Europe,
which accounted for the second largest share in the global electric two-wheeler
market in 2017.
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Yadea is the leading player in the global electric two-wheeler market
owing to its strong dealership and distribution network. Other major payers
include Aima, Luyuan, and Sunra. “Growth in demand for electric two-wheelers has
been witnessed across the globe over the few of years, predominantly owing to
several 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.
“Global
Electric Two-Wheeler Market By Vehicle Type, By Battery Capacity, By Battery
Type, By Region, Competition Forecast & Opportunities, 2013-2023” has analyzed the potential
of electric two-wheeler market
across the world, and provides statistics and information on market sizes,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by global electric
two-wheeler market.
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