Electric Two Foraying into Emerging Economies 2017-2025

Electric two wheelers are increasing becoming popular in important urban transport in various regions of the globe. It ranges from electric bicycle to electric scooters and electric motorcycles. These vehicles are light weight and can maneuver easily through congested streets. These vehicles can be charged easily with the electrical outlet and often have a removable or replaceable battery which also provide the convenience of charging indoors.

Increasing demand for favorable regulatory climate in interest of regulating the pollution and environmental conservation is expected to drive the electric two wheeler demand over the forecast period. The existence of stringent regulatory norms has supported the adoption of clean energy by improving the air quality and reducing the green-house gas emissions thereby reducing the dependence on the crude oil. Government across the globe are focusing towards providing subsidies and incentives to the OEMs and customers in order to lower the electric two wheelers deployment barriers.

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However, the electric two wheeler industry is expected to hinder by numerous factors such as lack of infrastructure for vehicle charging and deprived performance of the electric vehicles. High costs associated with the battery prices of Lithium, and nickel–metal hydride (NiMH) is also expected to hamper the industry over the forecast period. Moreover, the disposal issues and weight of the sealed lead acid (SLA) batteries pose as a potential challenge for the manufacturers and OEMs in the adoption of two wheelers.

The electric two wheeler industry can be segmented by type into electric bicycle, electric scooter and electric motorcycles. Electric motorcycles are currently in the introduction phase and are cost comparatively highest as compared to electric scooters and bicycles owing to higher output electric motor and batteries. OEMs are focusing on cutting down the motor costs and improving the performance in order to increase the vehicle efficiency. For instance, in 2015, Brammo Electric Motor Cycles and Zero Electric Motor Cycles have upgraded their product portfolio of electric motorcycles while cutting down the selling prices of all their electric models.

Asia Pacific accounted for almost 90%-92% of the electric two wheelers market. China is the major revenue contributing country in this region. The electric vehicles growth in China is notably spurred by the central government policies. The easy classification of electric bicycle and elimination of licensing and registration need has qualified electric two wheelers to be the best transport option. Most of the cities in China has restricted the use and ownership of the gasoline vehicles in the urban areas.

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India is expected to be the next emerging region for electric two wheelers following China. These vehicles are set to outpace the four-wheelers in all-electric mobility drive as all the top manufacturers has lined up their products and are set to be sold to the consumers from 2018. According to Society of Manufacturers of Electric Vehicles (SMEV), the sale of electric two wheelers is expected to outpace the electric car sales. Furthermore, performance of the vehicles have been improved with the costs of Li-ion batteries coming down. The Indian government has targeted to transition the country entirely to the electric vehicles by 2030. In interest of same, many Indian two-wheeler manufacturers such as TVS Motor, Hero MotoCorp, Honda Motorcycle & Scooter India, Bajaj Auto and Yamaha have scheduled the launches of their products from 2018.

The global electric two wheelers market is highly fragmented with majority of the competitors from China are gaining revenue. Constant innovations in new product launches and the partnerships categorize the industry structure. Companies are heavily investing in Research & Development (R&D) of two wheelers to lower the production costs and improve the vehicle performance. Most of the OEMs and suppliers are adopting a combination of indirect and direct distribution channel for attracting more customers and gain control over the distribution costs.

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