Electric Two-Wheeler Market To Reach US$ 72.5 Billion By 2028 Report By IMARC Group

IMARC Group, a leading market research company, has released a report titled "Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The global electric two-wheeler market size reached US$ 35.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028.

An electric two-wheeler, an electric scooter, or an electric motorcycle is a vehicle powered by electricity. These eco-friendly vehicles have gained significant popularity in recent years due to their environmental benefits and cost-effectiveness. They are available in various forms, including electric bicycles, electric scooters, and electric motorcycles. They are equipped with electric motors and batteries that store and provide energy to propel the vehicle. The absence of gasoline or diesel engines in these vehicles means they produce zero tailpipe emissions, making them a cleaner and more sustainable mode of transportation, which aligns with the growing concern for reducing air pollution and greenhouse gas (GHG) emissions. Additionally, electric two-wheelers are quieter in operation and require less maintenance, as they have fewer moving parts compared to internal combustion engines, which results in lower operating costs for users.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/electric-two-wheeler-market/requestsample

Electric Two-Wheeler Market Trends and Drivers:

The electric two-wheeler market is primarily driven by the growing environmental concerns. As global awareness of climate change and air pollution increases, more individuals are seeking eco-friendly transportation options, resulting in the adoption of electric two-wheelers. It is emission-free and energy-efficient, offering a sustainable alternative to traditional gasoline-powered vehicles, which aligns with the increasing emphasis on reducing carbon footprints and transitioning toward cleaner modes of transportation. Moreover, several government incentives and policies are promoting electric mobility and introducing subsidies, tax breaks, and other financial incentives to encourage the purchase of electric vehicles, including electric two-wheelers, representing another major growth-inducing factor. These incentives make electric two-wheelers more affordable and incentivize manufacturers to invest in research and development (R&D), leading to improved technology and performance. Along with this, several advancements in lithium-ion battery technology have made it more affordable and capable of providing longer ranges on a single charge, which is addressing one of the main concerns of potential buyers, thus propelling market growth. Furthermore, the increasing investment and innovation from established automotive manufacturers and startups resulted in numerous electric models with varying designs, features, and price points, catering to a broader consumer base, thus creating a positive market outlook.

Electric Two-Wheeler Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

AIMA Technology Co. Ltd.
Ampere Vehicles Pvt. Ltd.
BMW AG
Energica Motor Company S.p.A.
GOVECS AG
Hero Electric Vehicles Pvt. Ltd.
Mahindra GenZe
Terra Motors Corporation
Vmoto Limited
Yadea Technology Group Co. Ltd.
and Zero Motorcycles

The report has segmented the market into the following categories:

Breakup by Vehicle Type:

Electric Scooter/Moped
Electric Motorcycle

Breakup by Battery Type:

Lithium-Ion
Sealed Lead Acid (SLA)

Breakup by Voltage Type:

96V

Breakup by Peak Power:

10 kW

Breakup by Battery Technology:

Removable
Non-Removable

Breakup by Motor Placement:

Hub Type
Chassis Mounted

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/electric-two-wheeler-market

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.