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Electric Two-wheeler Market Trends

Report ID: GMI5304
Published Date: Sep 2023
Report Format: PDF

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Electric Two-wheeler Market Trends

Urban mobility solutions are gaining traction in the electric two-wheeler industry as a response to the challenges of urban congestion and the need for sustainable transportation. Electric scooters and bikes offer a convenient, eco-friendly & cost-effective way for people to navigate crowded cities and cover short distances. Shared mobility services including scooter and bike-sharing platforms have gained popularity, allowing users to access electric two-wheelers on-demand through smartphone apps. This trend is driven by the desire for convenient & flexible transportation options that reduce traffic congestion and contribute to cleaner, more liveable urban environments.

The trend of customization and personalization in the electric two-wheeler market reflects a growing consumer demand for vehicles that align with their unique preferences and needs. These customization options allow buyers to select from various colors, designs, features, and accessories. This level of personalization enhances the overall ownership experience and creates a sense of individuality among riders. Electric two-wheeler brands recognize that catering to these personalized preferences can lead to greater customer satisfaction and brand loyalty.

For instance, in July 2023, Ryvid launched a first-of-its-kind customizable EV motorcycle named Anthem. The electric motorcycle offers exceptional customizability with features such as an adjustable seat, lightweight chassis, modular design, and a removable 4.3 kWh battery pack for convenient charging.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of Electric two-wheeler reached USD 70.1 billion in 2022 and is set to register over 6% CAGR from 2023 to 2032, due to the increasing fuel prices and growing focus of consumers on seeking more cost-effective & eco-friendly transportation options worldwide.

The Li-Ion battery segment held 87% of the market share in 2022, on account of its higher energy density for providing electric bikes & scooters with longer range and improved performance.

Asia Pacific market is expected to reach USD 54.9 billion by 2032, owing to the higher demand for sustainable & cost-effective transportation options in the region.

Yamaha Motor Co., Ltd., Hero Electric, Zero Motorcycles, Vmoto Limited, Emco Electroroller GmbH, and Pedego Electric Bikes are some of the major electric two-wheeler companies worldwide.