Press release
Electric Two Wheelers Market to Reach a Revenue of US$ 58.66 Bn by the end of 2032
Electric Two Wheelers Market 2022
The global electric two wheelers market size is currently valued at close to US$ 19.66 Bn. Electric two wheeler sales are set to surge at a CAGR of around 11.6% from 2022 to 2032.
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With increasing investments toward the development of infrastructure and population across several countries, electric two wheelers are also anticipated to witness a demand boom over 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 market for electric two wheelers over the coming years.
The need for carbon footprint reduction in the environment along with fuel-efficient bikes and enhanced user experience, is compelling manufacturers to increase their investments in production, which will bode well for market expansion going forward.
Key Takeaways from Market Study
Demand for electric bicycles is projected to increase at a CAGR of 11.5% from 2022 to 2032.
Electric scooters are expected to hold the highest market share of 12.4% in terms of volume.
By battery type, lithium-ion batteries are projected to enjoy a market share of more than 26.5% by 2032.
By category, battery two wheelers are projected to be the leader with a market share of more than 83%.
By region, East Asia is projected to hold the highest share in the global market accounting for more than 64.5%.
The U.S. is projected to register the highest absolute $ opportunity of US$ 783.3 Mn from 2022 to 2032.
"Cost-effectiveness, low maintenance, and reduction in carbon footprint to remain main driving factors for sales of electric two wheelers," says a Persistence Market Research analyst.
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Market Landscape Identified to Be Fairly Competitive
On a regional, national, and global basis, the worldwide electric two wheelers market is highly competitive and fragmented.
Key electric two wheeler manufacturers 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.
ECCITY Motorcycles
Conclusion
Increasing monetary and non-monetary incentives are aiding the adoption of battery-powered two wheelers. Furthermore, the desire for sustainable urban mobility and modern transportation is driving the move from traditional to electric forms of transportation. Electric two wheelers are projected to increase energy security and enhance air quality.
The electric two wheelers market is likely to be fueled by technological advancements, partnerships, and mergers & acquisitions by leading industry competitors.
Key Stakeholders
Electric Two Wheelers Market Manufacturers
Electric Two Wheelers Market Distributors/Traders/Wholesalers
Electric Two Wheelers Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
Related Reports-
Motorcycle Market - https://www.persistencemarketresearch.com/market-research/motorcycle-market.asp
Automotive Aluminum Extruded Parts Market - https://www.persistencemarketresearch.com/market-research/automotive-aluminum-extruded-parts-market.asp
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