Electric Two-wheeler Market Analysis

Electric Two-wheeler Market Analysis

The e-bike segment held major electric two-wheeler market share in 2022. E-bikes provide an eco-friendly & cost-effective mode of transportation, appealing to environmentally conscious consumers. They offer a convenient alternative for short commutes and last-mile connectivity, reducing reliance on traditional vehicles. Advancements in battery technology have improved the range and performance of e-bikes, making them more practical for daily use.
 

E-bikes often come with smart features and connectivity options, enhancing the overall riding experience & attracting tech-savvy riders. These factors are driving the demand for e-bikes and boosting market demand. Various startup companies are investing in e-bikes. For instance, in August 2023, Ultraviolette Automotive, a startup based in India, launched the F77 Space edition electric bike. This innovative electric two-wheeler offers advanced features and technology to cater to the evolving preferences of riders in India.

The Li-Ion segment recorded over 87% of the electric two-wheeler market share in 2022. Li-ion batteries offer higher energy density, providing electric bikes & scooters with a longer range and improved performance. These batteries are relatively lightweight, reducing the overall vehicle weight and enhancing manoeuvrability. Advancements in Li-ion battery technology have led to faster charging times, addressing the concerns of lengthy charging processes. The environmental benefits of Li-ion batteries align with the sustainability goals of eco-conscious consumers, propelling their adoption of electric two-wheelers. These factors collectively make Li-ion batteries a key contributor to the market size.
 

Asia Pacific electric two-wheeler market accounted for 78% of revenue share in 2022 and is set to reach USD 54.9 billion by 2032. The densely populated urban areas in Asia Pacific are witnessing increased demand for sustainable & cost-effective transportation options, making electric scooters and bikes an attractive choice for daily commuting. Government initiatives promoting clean energy and reduced carbon emissions are encouraging the adoption of electric vehicles, further driving electric two-wheeler market value.

Additionally, the presence of prominent electric two-wheeler manufacturers and the development of robust charging infrastructure are bolstering market expansion in the Asia Pacific region, making it a significant player in the global electric mobility landscape. For instance, in August 2023, Revolt Motors, an Indian EV manufacturer, launched the Stealth Black edition of its RV400 electric motorcycle, emphasizing style and performance. The bike features a striking blacked-out design with angular panels and gold inverted forks, blending modern aesthetics with classic motorcycle spirit. Powered by a 3.24 kWh battery, it offers a range of nearly 100 miles, showcasing the evolution of electric motorcycles in India.