Malaysia Electric Two-Wheeler Market Sales, Share & Trends Analysis Report By Application, By Region, And Segment Forecasts Till- 2026: Ken Research

Consumer preferences and buying decision behavior

The electric two-wheeler vehicle market is at a very nascent stage. Public awareness needs to be strengthened to encourage more users to switch to EVs. This includes continuously raising awareness on the benefits of EVs - particularly about its range and reliability, ensuring the readiness of infrastructure, and promote benefits including the current incentives offered for electric scooters & electric motorcycles. Consumers started preferring and realized the need for an electric vehicle, especially 2W, when the mechanical shops were closed during COVID-19 lockdown in 2020. Consumers are thinking to shift to electric vehicles also because, during Budget 2022, the government proposed that EVs be completely exempt from import duty, excise duty and sales tax. EVs will also benefit from a road tax exemption of up to 100% under the proposal, while an income tax relief of up to RM2,500 will be provided on the cost of purchasing and installing, renting or taking up hire purchase facilities, as well as subscription payments of EV charging facilities. As fuel prices climb, consumers prefer to switch to battery-powered electric bikes and scooters. Alternative fuel awareness among consumers is growing, battery technology and R&D efforts are advancing, and manufacturers are concentrating on producing electric two-wheelers.

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Competitive Landscape in Malaysia's Electric Two Wheeler Vehicle Industry

Malaysia's Electric two-wheeler Vehicle Industry is consolidated with presence of limited players for 2-wheelers. These players compete with each other on the basis of products offered, product quality, value added services, product pricing, its features, battery technology type, battery capacity, battery type, voltage type etc. Companies like Eclimo has adopted a B2B model, where they rent/sell their electric 2-wheelers to corporates such as KFC. Companies like Eclimo and KuroEV provide electric two wheelers rental services for a monthly or yearly subscription in Malaysia.

Technological advancements in battery technology

Technological advancements in electric vehicle industry have made electric two-wheelers affordable and increased their performance and efficiency. The major reason for the affordable prices of electric scooters and bikes is the advancement in battery technology. OEMs are investing capital in research and development to further increase the efficiency of the electric battery along with the reducing their cost. Most of the light electric vehicles run on lithium-ion batteries, for which manufacturers are researching to increase its charging capacity. Solid-state batteries are to be the next-generation battery technology that can resolve a lot of the current problems.

Impact of COVID-19 on Electric Vehicles Industry

The COVID-19 pandemic had a negative impact on the market as manufacturing activities were on halt for several months in the first half of the year 2020. Also, the disrupted supply chain and the shortage of raw materials in the year 2021 had a negative impact on the growth of the market. Malaysia is along major sea trade routes and due to the lockdown and shutdown of countries, the sea trade has also come to a halt, stopping transport of vehicles across the world. However, the gradual opening of the market in the later stages of 2020 and 2021 has paved way for economic revival of the market.

The Covid-19 pandemic also had a significant impact on household income according to a study conducted by the Department of Statistics. The Covid-19 impact study on household income in Malaysia for 2020 revealed that the number of poor households increased to 639,800 in 2020, up from 405,400 in 2019. This largely affected the sale of electric vehicles in Malaysia.

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The publication titled "Malaysia Electric Two-Wheeler Market Outlook to 2026: Driven by increase in awareness about alternative fuel, advancements in battery technology, and growing demand of two-wheelers in B2B Services" provides a comprehensive analysis of the electric two-wheeler vehicle industry by analyzing historical statistics and corresponding developments in the electric vehicles market. The market growth declined during COVID as manufacturing activities were on halt and the supply chain got disrupted. Given the consolidated structure in the electric vehicle industry, analysts have elaborated on competitive landscape of major electric 2-wheelers players on the basis of models launched, product prices, technology type and other operational parameters. The report also covers a snapshot on player's business model, value chain analysis, growth drivers, Porters 5 forces analysis, impact of COVID-19 and factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the electric two-wheelers industry. The report focuses on Electric two-wheeler Vehicle Market segmentation by Type of Electric two-wheeler Vehicle, Type of Battery Capacity, Type of Battery Technology, Type of Voltage used, and Type of Battery used. The report highlights the pain points of the electric vehicles industry along with detailed company profiles of major electric 2-wheeler brands. The report concludes with projections for future industry market size, market segmentations and analyst take on future market scenario.

Key Segments Covered in Malaysia Electric Two Wheeler Vehicles Industry

By Type of Electric 2-wheelers
Electric scooter
Electric motorcycle
By Type of Battery Capacity for electric 2 wheelers
25Ah
By Battery Technology Type for electric 2 wheelers
Removable batteries
Non-removable batteries

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By Voltage Type for electric 2 wheelers
24V
36V
48V
60V
72V
By Battery Type for electric 2 wheelers
Lithium-Ion
Sealed Lead Acid

Time Period Captured in the Report:
Historical Period: 2016-2021
Forecast Period: 2022F-2026F

Malaysia Electric Two-Wheeler Vehicles Industry Players
Electric 2 wheelers
Eclimo
Treeletrik
NIU

Key Topics Covered in the Report

Ecosystem of Electric two-wheeler Vehicles Industry
Value Chain Analysis of Electric two-wheeler Vehicles Industry
Business Models of Major Entities in the Electric two-wheeler Vehicles Industry
Customer Preferences and Buying Decision Behavior in Electric two-wheeler Vehicles Industry
Market Size of Electric two-wheeler Vehicles Industry by Transaction Value and Sales Volume
Market Potential of Malaysia Electric two-wheeler Vehicles Market
Market Segmentation of Electric two-wheeler Industry by type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, and by battery type
Competitive Scenario of the Electric two-wheeler Vehicles Industry
Issues and Challenges in Electric two-wheeler Vehicles Market
Trends and Developments in the Electric two-wheeler Vehicles Industry
Porter's Five Forces analysis of the Electric two-wheeler Vehicles Industry
Growth Drivers of Electric two-wheeler Vehicles Industry
Challenges and Restraints in the Electric two-wheeler Vehicles Industry
Government Rules and Regulations in the Electric Vehicles two-wheeler Industry
Impact of Covid-19 and Government Regulations on Electric two-wheeler Vehicles Industry
Future Market Size of Electric two-wheeler Vehicles Industry by Transaction Value and Sales Volume
Future Market Segmentation of Electric two-wheeler Vehicles Industry by type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, by battery type
Industry Speaks
Analyst Recommendations
Research Methodology

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