Electric two-wheelers are charging ahead in India, Germany, and beyond, leading the way toward a cleaner, faster, and more sustainable future of urban mobility.

In recent years, the transportation sector has witnessed a significant shift towards sustainability, driven by environmental concerns and technological advancements. One of the most promising developments in this regard is the emergence of electric two-wheelers. These vehicles offer a clean, efficient, and convenient mode of transportation, contributing to reduced carbon emissions and improved urban mobility. With growing awareness of climate change and air pollution, consumers are increasingly seeking eco-friendly alternatives to traditional gasoline-powered vehicles. Electric two-wheelers produce zero tailpipe emissions, making them a cleaner option for urban commuting. Electric two-wheelers offer significant cost savings over their gasoline counterparts in terms of fuel and maintenance expenses. According to the research report, "Global Electric Two-wheeler Market Outlook, 2029" published by Bonafide Research, the market is anticipated to cross USD 80 Billion by 2029, increasing from USD 45.84 Billion in 2023. The market is expected to grow with 10.55% CAGR by 2024-29. The electric two-wheeler market is experiencing significant growth due to rising technological advancements. Manufacturers are constantly innovating to enhance the performance, range, and features of electric scooters & motorcycles. These advancements include improvements in battery technology, motor efficiency, connectivity features, and the use of lightweight materials. As a result, electric two-wheelers are becoming more appealing to consumers, offering longer ranges, faster charging times, and smart features. This technological progress is driving the adoption of electric two-wheelers and contributing to market expansion as they address the demand for cleaner & more efficient urban transportation solutions. Increasing fuel prices are driving the market growth as consumers seek more cost-effective & eco-friendly transportation options.

Electric scooters have emerged as the frontrunners in the electric two-wheeler industry, and several factors contribute to their leading position. One of the primary reasons for their dominance is their affordability, versatility, and suitability for urban commuting. Electric scooters offer a compelling value proposition to consumers, balancing cost-effectiveness with practicality. Compared to electric bicycles and motorcycles, electric scooters typically have lower upfront costs, making them more accessible to a broader range of consumers, including students, young professionals, and urban dwellers. This affordability factor is particularly significant in markets where cost plays a crucial role in purchasing decisions, driving higher adoption rates for electric scooters. Versatility is another key strength of electric scooters. Their compact size, lightweight construction, and maneuverability make them ideal for navigating through crowded city streets, weaving through traffic, and finding parking in tight spaces. Lithium-ion (Li-ion) batteries have established themselves as the dominant power source in the electric two-wheeler industry, and several factors contribute to their leading position. Li-ion batteries boast a significantly higher energy density compared to other types of rechargeable batteries, such as lead-acid and nickel-metal hydride (NiMH) batteries. This means they can store more energy in a smaller and lighter package, making them ideal for electric two-wheelers where space and weight constraints are critical factors. The high energy density of Li-ion batteries allows electric two-wheelers to achieve longer ranges on a single charge, providing users with greater flexibility and convenience for their daily commuting needs. Moreover, Li-ion batteries offer an impressive cycle life, retaining their capacity and performance over hundreds, if not thousands, of charge-discharge cycles. This durability ensures that electric two-wheelers equipped with Li-ion batteries maintain their reliability and longevity over time, reducing the need for frequent battery replacements and lowering overall ownership costs for consumers.

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Commercial usage has emerged as a leading sector in the electric two-wheelers industry, driven by several factors that make electric two-wheelers particularly well-suited for commercial applications. One of the primary reasons for this trend is the compelling economics of operation offered by electric two-wheelers in commercial fleets. Electric two-wheelers present significant cost savings over their gasoline-powered counterparts in terms of fuel and maintenance expenses. With electricity generally being cheaper than gasoline and electric vehicles having fewer moving parts, commercial operators can enjoy lower operating costs and higher profit margins by transitioning to electric two-wheelers for their fleet operations. This cost advantage is particularly attractive for businesses engaged in last-mile delivery and urban logistics, where fuel expenses constitute a significant portion of operating expenses. Regulatory incentives and environmental policies aimed at reducing emissions and promoting sustainable transportation have incentivized commercial operators to adopt electric two-wheelers. 48V motor power has emerged as a leading choice in the electric two-wheelers industry, offering a balance of performance, efficiency, and affordability that meets the diverse needs of consumers and manufacturers alike. One of the primary reasons for the widespread adoption of 48V motor power is its ability to deliver sufficient performance for various types of electric two-wheelers while maintaining cost-effectiveness. Electric two-wheelers equipped with 48V motor power strike a delicate balance between power output and energy efficiency, making them suitable for a wide range of applications, from electric bicycles and scooters to motorcycles. The 48V motor power provides adequate acceleration and speed capabilities, allowing riders to navigate through urban environments and tackle moderate inclines with ease. This level of performance meets the requirements of most urban commuters and recreational riders, providing a satisfying riding experience without compromising on energy efficiency or range. Moreover, 48V motor power offers excellent efficiency, converting electrical energy into mechanical power with minimal energy losses.

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The electric two-wheeler market is gaining momentum in North America, mainly in the US and Canada. Growing concern for greener modes of transport and increasing expenses on petrol have made consumers rethink electric scooters and motorcycles as alternatives. Many states are offering incentives for EV purchases; incentives include tax rebates and grants on charging infrastructure. Everything from electric scooters to high-performance motorcycles can be found in the market. However, possible barriers to wide-scale acceptance include a generally limited charging infrastructure and higher purchase prices than that of their more conventional ICE counterparts. As the manufacturers continue to invest in better battery technology with more efficient electric models, the market will likely grow, at least for urban commuters for whom low-cost green transport is a consideration. The European region leads the electric two-wheeler market, with its main drivers being Germany, France, and the Netherlands. This is a region in which very tough environmental regulations and incentives offered by governments to make transportation cleaner have combined to cause a phenomenal increase in the adoption of electric scooters and bicycles. It is also expected that the European market will see an increase in its growth, promoted by the improvement of battery technology, which is raising the bar on performance and making electric two-wheelers much more affordable. Urban mobility is another trend-riding-sharing service and e-scooter rentals-that promises growth for the market. There is growing interest among European consumers in sustainable options, making electric two-wheelers a valid and increasingly pragmatic alternative to traditional transportation. The Asia Pacific region, particularly countries like China and India is the largest market for electric two wheelers in the globe. The government of China has invested seriously in the development of electric vehicle related infrastructure and given subsidies in a very large amount on purchasing electric two-wheeler.

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In India, the market is evolving fast, as the urbanization process and needs for affordable transportation solutions increase. As buyers have become increasingly price-sensitive, local manufacturers are more and more entering the market with their cost-effective electric models. All these will lead to rapid growth of the region's electric two-wheeler market, supported by increased environmental awareness and government initiatives toward reducing pollution and improving sustainable mobility. The electric two-wheeler market is still at a nascent stage in South America but is highly promising, with surging fuel prices and increasing congestion in urban areas. Brazil and Argentina are large countries that are only just now waking up to electric mobility. Besides being crippled by high costs, a lack of charging infrastructure is one of the reasons that is holding the market back. The idea of electric two-wheelers as a solution for urban mobility problems is starting to be felt by local governments. Some have introduced incentives and support in general for the adoption of electric vehicles. The market will grow with more awareness among consumers and better infrastructure; it may also attract more clientele from the young and urban citizens looking for cheaper and faster transportation modes. The electric two-wheeler market in the Middle East and Africa remains in its infancy but is growing little by little. Urbanization remains high in regions like South Africa and the Gulf States, a geographical region that's taken a considerable interest in electric scooters and motorcycles as alternative transportation. This growth of the market is also influenced by increasing fuel prices, environmental concerns, and government incentives in support of sustainable transportation fuels.

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Considered in this report
• Geography: Global
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Regions & Countries covered in the report:
• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

Aspects covered in this report
• Global electric two-wheeler market with its value and forecast along with its segments
• Region & Country-wise advanced lead-acid batteries market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Vehicle Type
• Electric Motorcycle
• Electric Scooter

By Battery
• Sealed Lead Acid (SLA)
• Lithium-Ion

By Motor Power
• 48 V
• 60 V
• 72 V
• Other Motor Powers

By Usage
• Commercial
• Private

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Steven Thomas - Sales & Marketing Manager
E-mail: sales@bonafideresearch.com
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Europe: +44 20 8089 0049
North America: +1 201 793 8545
https://www.bonafideresearch.com/

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This release was published on openPR.