Asia-Pacific Electric Two-Wheeler Market to Grow On Account of Low Cost of Ownership
The demand for electric
two-wheelers is expected to rise as the adoption of these vehicles in quick
delivery services increases. At the same time, the increase in the fleet of
electric vehicles is also due to government subsidies and incentives.
According
to TechSci Research report, “Asia-Pacific
Electric Two-wheeler Market- Competition Forecast
and Opportunities, 2018-2030F”. Asia-Pacific electric two-wheeler market is expected
to grow because the governments of different Asian nations intend to stop the manufacturing
and marketing of gasoline and diesel vehicles in the upcoming years. This
action is anticipated to boost the market for electric vehicles in the area,
helping the market to grow over the course of the forecast period. For example,
the Government of India and National Institution for Transforming India (NITI
Aayog), said that EVs would account for 80% of two and three-wheeler sales by 2028.
More operators are entering the market in the region,
due to which charging solutions like battery swap, semi-public and public
charging, and home-based charging are evolving. The electric
two-wheeler OEMs and
startups, shared mobility services, charging solution providers, and fintech
companies with complete the electric vehicle ecosystem are all supported by
governments of different nations, in the region. There are multiple innovative
business models and cost-effective financial options available to customer
which is leading to the increase in the electric two wheeler adoption. The
availability of a wider range of vehicle models is also anticipated to increase
the adoption of electric two-wheeler in the nation. Last-mile delivery and new startups are anticipated to
increase the demand-supply for electric two-wheeler services, which will be
critical to the industry's expansion. Electric mobility solutions are anticipated to have a
significant impact on the market, increasing the growth opportunities for
different ecosystem segments.
To make electric two wheeler’s more appealing and
affordable for buyers and profitable for sellers, industry participants are
starting to promote new business models like, as-a-service, subscription,
leasing, and flexible ownership plans. Over the forecast period, these models
are expected to change in step with market expansion. The cloud and other
disruptive technologies, such as artificial intelligence (AI), are crucial for the
brand's growth and ability to stay competitive. Technology has the power to
make or break a product, especially the battery swapping technology, which is
anticipated to lower customer’s range anxiety.
Browse more than XX market data Figures spread through XX Pages and an in-depth TOC on " Asia-pacific Electric Two-Wheeler Market "
Asia-Pacific Electric Two-Wheeler Market can be
segmented based on Vehicle Type, Battery Capacity, Battery Type, and Country. Based on Vehicle type, the
market is further segmented into Scooter/Moped & Motorcycle, the scooter
/moped captures higher market share because of the greater number of models
available in this segment in the region. Based on Battery Capacity, the market
is segmented into <25Ah and >25Ah. Based on Battery Type the market is
segmented into Lead Acid &
Li-ion, the Li-ion category dominates in this segment because of better
efficient figures and better integration capabilities. Based on country the
market is segmented into China, India, Japan, Malaysia, Indonesia, Thailand,
Vietnam, Singapore, South Korea, Taiwan. The major development is in the
countries like China, India, Japan and South Korea as these countries are
working on developing efficient ecosystem.
Some of the major companies operating in the Asia-pacific
Electric Two-Wheeler Market include:
- Zhejiang Luyuan Electric Vehicle.
- Dongguan Tailing Electric Vehicle Co. Ltd.
- Shandong Incalcu Electric Vehicle Co. Ltd.
- Hero Electric Vehicles Pvt. Ltd.
- Okinawa Autotech Pvt. Ltd.
- Gogoro Inc.
- Zero Motorcycles, Inc.
- Yadea group holdings ltd.
- Revolt motors
- Ather Energy Pvt. Ltd.
These are the key players
developing advanced technologies and launching electric two wheelers across the
region to stay competitive in the market. Other competitive strategies include
mergers with the research and development firms, new product developments, and
marketing activities to increase customer outreach. These companies are also
focusing on meeting the regulations of different regional governments and are
also partnering with different research bodies to stay competitive in the
market.
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“The
demand for electric vehicles is expected to rise because of the less ownership
cost of the electric vehicles. The market is expected to generate new
opportunity as new players are entering into the race, which will bring more
competitive products in the market. In addition, government emission norms are
also influencing the demand of the electric two wheelers in Asia Pacific” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Asia-Pacific Electric Two-Wheeler Market - By Vehicle
Type (Scooter/Moped & Motorcycle), By Battery Capacity (<25Ah &
>25Ah), By Battery Type (Lead Acid & Li-ion), By Country, Competition
Forecast and Opportunities, 2030” has evaluated the future growth
potential of Asia-pacific Electric Two-Wheeler Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global Asia-Pacific Electric Two-Wheeler Market.
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