NEW YORK, April 07, 2022 (GLOBE NEWSWIRE) — The global electric two-wheeler market is expected to grow at a value CAGR of 11.6% over the forecast period 2022-2032 to reach a valuation of US$58.66 billion by the end of 2032.
With growing investments in infrastructure and population development in several countries, electric two-wheelers are also expected to see a boom in demand in the coming years. Long-range and high-performance electric scooters, motorcycles and bicycles are being introduced in many countries, which is ultimately expected to benefit the electric two-wheeler market over the next few years.
The need to reduce the carbon footprint in the environment, along with fuel-efficient bicycles and improved user experience, is forcing manufacturers to increase their investment in production, which bodes well for the expansion of the market to the future.
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Key insights from market research
- Demand for e-bikes should increase to a CAGR of 11.5% from 2022 to 2032.
- Electric scooters should hold the highest market share of 12.4% in terms of volume.
- By battery typelithium-ion batteries should benefit from a market share of more than 26.5% by 2032.
- By category, two wheel battery should be the leader with a market share of more than 83%.
- By region, East Asia is expected to hold the highest share of the global market, representing more than 64.5%.
- the The United States should register the highest absolute $ opportunity of US$783.3 million from 2022 to 2032.
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“Cost-efficiency, low maintenance and reduced carbon footprint remain the main drivers of electric two-wheeler sales,” says an analyst at Persistence Market Research.
Market landscape identified as quite competitive
On a regional, national and global basis, the global electric two-wheeler market is highly competitive and fragmented.
Major manufacturers of Electric Two-Wheelers included in the report are GOVECS AG, Vmoto Limited, Honda Motor Co. Ltd., Terra Motors Corp., Bayerische Motoren Werke AG (BMW), Jiangsu Xinri E-Vehicle Co. Ltd., Piaggio & C. SpA, Giant Manufacturing Co. Ltd., Accell Group, Derby Cycle Holding GmbH, Pedego Electric, VOLT E BYK, Energica Motor Co SpA, Zero Motorcycles Inc. and ECCITY Motorcycles.
The increase in monetary and non-monetary incentives promotes the adoption of battery-powered two-wheelers. Additionally, the desire for sustainable urban mobility and modern transport is driving the shift from traditional modes of transport to electric modes of transport. Electric two-wheelers should increase energy security and improve air quality
The electric two-wheeler market is likely to be driven by technological advancements, partnerships, and mergers and acquisitions by major competitors in the industry.
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Want to know more
Persistence Market Research, a research and advisory firm, has published an revised market research report on the Electric Two-Wheelers Market which contains a global industry analysis from 2017-2021 and an opportunity assessment for 2022 -2032.
The report provides an in-depth analysis of the market across different segments i.e. product type, battery type, category and region.
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