Electric Two-Wheeler Market 2026
2016 – 2026 GLOBAL ELECTRIC TWO-WHEELER MARKET FORECAST AND OPPORTUNITIES Published: January 2022 www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING 1 Automotive © TechSci Research 1
Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Executive Summary 4. Impact of COVID-19 on Global Electric Two-Wheeler Market 5. Voice of Customer 5.1. Brand Recall (Unaided and Aided) 5.2. Factors Influencing Purchase Decision 5.3. Brand Satisfaction Level 6. Global Electric Two-Wheeler Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Vehicle Type (Scooter/Mopeds, Motorcycle) 6.2.2. By Range (Less than 50 Km, 50–100 Km, 101–150 Km, Above 150 Km) 6.2.3. By Battery Capacity (<25 Ah and >25 Ah) 6.2.4. By Battery Type (Lead Acid and Li-ion) 6.2.5. By Region 6.3. Market Map (By Vehicle Type, By Region) 2 Automotive © TechSci Research 2
Table of Contents S. No. Contents 7. Asia-Pacific Electric Two-Wheeler Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & By Volume 7.2. Market Share & Forecast 7.2.1. By Vehicle Type 7.2.2. By Range 7.2.3. By Battery Capacity 7.2.4. By Battery Type 7.2.5. By Country 7.3. Market Map (By Vehicle Type) 7.4. Asia-Pacific: Country Analysis 7.4.1. China Electric Two-Wheeler Market Outlook 7.4.1.1. Market Size & Forecast 7.4.1.1.1. By Value & Volume 7.4.1.2. Market Share & Forecast 7.4.1.2.1. By Vehicle Type 7.4.1.2.2. By Range 7.4.1.2.3. By Battery Capacity 7.4.1.2.4. By Battery Type 7.4.1.2.5. By Company (2020) 3 Automotive © TechSci Research 3
Table of Contents S. No. Contents 7.4.2. Indonesia Electric Two-Wheeler Market Outlook 7.4.2.1. Market Size & Forecast 7.4.2.1.1. By Value & Volume 7.4.2.2. Market Share & Forecast 7.4.2.2.1. By Vehicle Type 7.4.2.2.2. By Range 7.4.2.2.3. By Battery Capacity 7.4.2.2.4. By Battery Type 7.4.2.2.5. By Company (2020) 7.4.3. Thailand Electric Two-Wheeler Market Outlook 7.4.3.1. Market Size & Forecast 7.4.3.1.1. By Value & Volume 7.4.3.2. Market Share & Forecast 7.4.3.2.1. By Vehicle Type 7.4.3.2.2. By Range 7.4.3.2.3. By Battery Capacity 7.4.3.2.4. By Battery Type 7.4.3.2.5. By Company (2020) 4 Automotive © TechSci Research 4
Table of Contents S. No. Contents 7.4.4. Philippines Electric Two-Wheeler Market Outlook 7.4.4.1. Market Size & Forecast 7.4.4.1.1. By Value & Volume 7.4.4.2. Market Share & Forecast 7.4.4.2.1. By Vehicle Type 7.4.4.2.2. By Range 7.4.4.2.3. By Battery Capacity 7.4.4.2.4. By Battery Type 7.4.4.2.5. By Company (2020) 7.4.5. Vietnam Electric Two-Wheeler Market Outlook 7.4.5.1. Market Size & Forecast 7.4.5.1.1. By Value & Volume 7.4.5.2. Market Share & Forecast 7.4.5.2.1. By Vehicle Type 7.4.5.2.2. By Range 7.4.5.2.3. By Battery Capacity 7.4.5.2.4. By Battery Type 7.4.5.2.5. By Company (2020) 5 Automotive © TechSci Research 5
Table of Contents S. No. Contents Page No. 7.4.6. India Electric Two-Wheeler Market Outlook 7.4.6.1. Market Size & Forecast 7.4.6.1.1. By Value & Volume 7.4.6.2. Market Share & Forecast 7.4.6.2.1. By Vehicle Type 7.4.6.2.2. By Range 7.4.6.2.3. By Battery Capacity 7.4.6.2.4. By Battery Type 7.4.6.2.5. By Company (2020) 7.4.7. Malaysia Electric Two-Wheeler Market Outlook 7.4.7.1. Market Size & Forecast 7.4.7.1.1. By Value & Volume 7.4.7.2. Market Share & Forecast 7.4.7.2.1. By Vehicle Type 7.4.7.2.2. By Range 7.4.7.2.3. By Battery Capacity 7.4.7.2.4. By Battery Type 7.4.7.2.5. By Company (2020) 6 Automotive © TechSci Research 6
Table of Contents S. No. Contents 8. Americas Electric Two-Wheeler Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Vehicle Type 8.2.2. By Range 8.2.3. By Battery Capacity 8.2.4. By Battery Type 8.2.5. By Country 8.3. Market Map (By Vehicle Type) 8.4. Americas: Country Analysis 8.4.1. Brazil Electric Two-Wheeler Market Outlook 8.4.1.1. Market Size & Forecast 8.4.1.1.1. By Value & Volume 8.4.1.2. Market Share & Forecast 8.4.1.2.1. By Vehicle Type 8.4.1.2.2. By Range 8.4.1.2.3. By Battery Capacity 8.4.1.2.4. By Battery Type 8.4.1.2.5. By Company (2020) 7 Automotive © TechSci Research 7
Table of Contents S. No. Contents 8.4.2. United States Electric Two-Wheeler Market Outlook 8.4.2.1. Market Size & Forecast 8.4.2.1.1. By Value & Volume 8.4.2.2. Market Share & Forecast 8.4.2.2.1. By Vehicle Type 8.4.2.2.2. By Range 8.4.2.2.3. By Battery Capacity 8.4.2.2.4. By Battery Type 8.4.2.2.5. By Company (2020) 8.4.3. Canada Electric Two-Wheeler Market Outlook 8.4.3.1. Market Size & Forecast 8.4.3.1.1. By Value & Volume 8.4.3.2. Market Share & Forecast 8.4.3.2.1. By Vehicle Type 8.4.3.2.2. By Range 8.4.3.2.3. By Battery Capacity 8.4.3.2.4. By Battery Type 8.4.3.2.5. By Company (2020) 8 Automotive © TechSci Research 8
Table of Contents S. No. Contents 9. Europe Electric Two-Wheeler Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast 9.2.1. By Vehicle Type 9.2.2. By Range 9.2.3. By Battery Capacity 9.2.4. By Battery Type 9.2.5. By Country 9.3. Market Map (By Vehicle Type) 9.4. Europe: Country Analysis 9.4.1. Spain Electric Two-Wheeler Market Outlook 9.4.1.1. Market Size & Forecast 9.4.1.1.1. By Value & Volume 9.4.1.2. Market Share & Forecast 9.4.1.2.1. By Vehicle Type 9.4.1.2.2. By Range 9.4.1.2.3. By Battery Capacity 9.4.1.2.4. By Battery Type 9.4.1.2.5. By Company (2020) 9 Automotive © TechSci Research 9
Table of Contents S. No. Contents 9.4.2. France Electric Two-Wheeler Market Outlook 9.4.2.1. Market Size & Forecast 9.4.2.1.1. By Value & Volume 9.4.2.2. Market Share & Forecast 9.4.2.2.1. By Vehicle Type 9.4.2.2.2. By Range 9.4.2.2.3. By Battery Capacity 9.4.2.2.4. By Battery Type 9.4.2.2.5. By Company (2020) 9.4.3. Germany Electric Two-Wheeler Market Outlook 9.4.3.1. Market Size & Forecast 9.4.3.1.1. By Value & Volume 9.4.3.2. Market Share & Forecast 9.4.3.2.1. By Vehicle Type 9.4.3.2.2. By Range 9.4.3.2.3. By Battery Capacity 9.4.3.2.4. By Battery Type 9.4.3.2.5. By Company (2020) 10 Automotive © TechSci Research 10
Table of Contents S. No. Contents 9.4.4. Italy Electric Two-Wheeler Market Outlook 9.4.4.1. Market Size & Forecast 9.4.4.1.1. By Value & Volume 9.4.4.2. Market Share & Forecast 9.4.4.2.1. By Vehicle Type 9.4.4.2.2. By Range 9.4.4.2.3. By Battery Capacity 9.4.4.2.4. By Battery Type 9.4.4.2.5. By Company (2020) 9.4.5. United Kingdom Electric Two-Wheeler Market Outlook 9.4.5.1. Market Size & Forecast 9.4.5.1.1. By Value & Volume 9.4.5.2. Market Share & Forecast 9.4.5.2.1. By Vehicle Type 9.4.5.2.2. By Range 9.4.5.2.3. By Battery Capacity 9.4.5.2.4. By Battery Type 9.4.5.2.5. By Company (2020) 11 Automotive © TechSci Research 11
Table of Contents S. No. Contents 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends and Developments 12. Competitive Landscape 12.1. Niu International 12.2. Yadea Technology Group Co.,Ltd. 12.3. Jiangsu Xinri E-Vehicle Co.,Ltd. 12.4. Viar Motor Indonesia 12.5. Zero Motorcycles, Inc. 12.6. Honda Motor Company Ltd. 12.7. Deco Green Energy CO. LTD. 12.8. Hero Electric Vehicles Pvt. Ltd. 12.9. Okinawa Autotech Pvt. Ltd. 12.10. Ampere Vehicles Private Limited 13. Strategic Recommendations 14. About Us & Disclaimer 12 Automotive © TechSci Research 12
PRODUCT OVERVIEW
Scope of Report Product of Interest (POI): Electric Two-Wheeler Electric Two-Wheeler is a type of automobile with two wheels which are propelled are plug-in electric vehicles which uses on board stored energy via battery to drive through motors. Market Segmentation VEHICLE TYPE REGION Year Range • Scooter/Mopeds • Asia-Pacific • Motorcycle • Europe Review Period • Americas 2016 – 2019 Base Year BATTERY CAPACITY RANGE • <25 Ah 2020 • Less than 50 Km • >25 Ah Estimated Year • 50–100 Km 2021 • 101–150 Km • Above 150 Km BATTERY TYPE Forecast Period • Lead Acid 2022 – 2026 • Li-ion 14 Automotive © TechSci Research 14
RESEARCH METHODOLOGY
Research Methodology Market Formulating Developing List Data Data Data Profiling Questionnaire of Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to industry experts’ players and industry interviews with result of primary using MS-Excel, statistical determine top players in interviews, TechSci specialists was industry experts and and secondary tools and internal the global electric two- formulated a detailed developed. industry players for research was proprietary database to wheelermarket, overall discussion guide. data collection and validated through obtain qualitative and market size and segmental verification. rigorous quantitative insights about market size. triangulation. the global electric two- wheelermarket. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business Leaders ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution Aspects/Dynamics ✓ Questionnaire Design ✓ Government Policies ✓ In-depth Interviews ✓ Conclusion Primary Research Secondary Paid Sources Research ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc. 16 Automotive © TechSci Research 16
Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global electric two-wheeler market. The team has analyzed the outlook of various segments of the market, while considering the major influencing factors such as government initiatives, growing environmental concerns, etc. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global electric two-wheeler market. Methodology Followed for Calculation of Market Size: • Market Size by Value & Volume: Market size, in terms of value & volume for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders such as electric two-wheeler companies, channel partners, market influencers & end-users, industry experts, and other industry participants. • The team interviewed more than 15 electric two-wheeler companies, 100 end-users and 25 industry experts and other value chain stakeholders in the global electric two-wheeler market to obtain the overall market size between 2016 and 2020, which was validated by Delphi technique. Taking standard deviation into consideration, the market size was averaged out. • Respondents were asked about the current and future market growth rates, market shares by vehicle type, by range, by battery capacity, by battery type and by region. Removing outlier response, the geometric mean of growth estimates and manufacturer wise revenue shares generated across various segments were considered, to arrive at final revenue shares. Revenue shares generated across various segments were further triangulated based on response received from other stakeholders. 17 Automotive © TechSci Research 17
Research Methodology Methodology Followed for Calculation of Market Shares: • Market share by vehicle type, by range, by battery capacity, by battery type and by region were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of electric two-wheeler market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global electric two-wheeler market, TechSci Research used various forecast techniques such as: ✓ Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis 18 Automotive © TechSci Research 18
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million. Partial List of Companies Interviewed Key Secondary Sources • Niu International. ▪ World Bank • Yadea Technology Group Co.,Ltd. ▪ Industry Association • Jiangsu Xinri E-Vehicle Co.,Ltd ▪ TechSci Research Proprietary Database & Knowledge • Viar Motor Indonesia Repository • Zero Motorcycles, Inc ▪ Company Annual Reports • Honda Motor Company, Ltd. ▪ Industry Magazines • Deco Green Energy CO., LTD. ▪ Industry Reports • Hero Electric Vehicles Pvt. Ltd. ▪ News Dailies • Okinawa Autotech Pvt. Ltd ▪ Credible Paid Databases • Ampere Vehicles Private Limited 19 Automotive © TechSci Research 19
Industry Brief Rising demand for emission free automobiles is driving the growth in global electric two-wheeler market in the forecast period, 2022-2026. According to TechSci Research report, “Electric Two-Wheeler Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, the global electric two-wheeler market stood at USD10,629.17 million in 2020 and is expected to grow at a steady CAGR of 14.08% during the forecast period to reach USD26,476.81million in 2026 on account of rising demand for emission-free two-wheelers and increasing environmental concerns. Electric two-wheelers, classified into motorcycles and scooters, are plug-in electric vehicles equipped with no more than two wheels. An electric two-wheeler's propulsion and the accessory system are powered exclusively by a zero-emissions electricity source. The power unit that propels the electric two-wheeler runs on electricity stored onboard in a rechargeable battery. Theglobal electric two-wheeler market is segmented based on vehicle type, range, battery capacity, battery type, region, and competitional landscape. Based on vehicle type, the market is further fragmented into Scooter/Mopeds and Motorcycle, with Scooter/Mopeds holding the dominating market share of 89.66% in 2020. The significant market share of Scooter/Mopeds can be attributed to the reasons such as lightweight, lower prices, less charging time, good maneuverability, etc. Owing to growing research and development in electric motorcycles, the motorcycle segment is anticipated to be the fastest-growing segment in the forecast years. Basedonrange,themarketisfurtherfragmentedintoLessthan50Km,50-100Km,101-150Km,Above150Km.Themajorityoftheelectrictwo-wheelerssoldintheyear2020had the range of 50-100Km, which was then followed by 101-500Km. The past five years have witnessed enormous growth in electric two-wheelers having a range above 150Km, owingtowhich electric two-wheelers having a range above 150Kmareanticipated tobe the fastest-growingsegmentin the next five years. Basedonbattery capacity, the market is bifurcated into >25Ah and <25Ah. Most of the electric two-wheelers sold in the year 2020 had battery capacity <25 Ah. As the capacity of a battery is designed on the basis of various factors such as the time, it will take to charge the battery, battery weight, battery size, research and development. The majority of electric two-wheeler manufacturers are producing electric motorcycles having battery capacity <25Ah, as a result, <25Ah is holding the commanding share of 83.83% in 2020 in the global electric two-wheeler market. Basedonbattery type, the market is further bifurcated into Lead Acid and Li-ion. The market of Lead-acid batteries is mature owing to its long-standing history and most nubile technology. Lead-acid batteries are low-cost batteries that are created by placing negative lead and positive lead dioxide electrodes into the sulfuric acid electrolyte. The lead acid-based batteries have significant applications in sustainable markets such as hybrid electric vehicles (HEV), start-stop automotive systems and grid-scale energy storage applications. Owing to its lower cost and most mature technology Lead Acid is holding the dominating market share of 84.87% in 2020 in the global electric two-wheeler market andthetrendisexpectedtocontinue in the forthcoming years aswell. Based on region, the market is further fragmented into APAC, Europe, Americas, Rest of the World. The global electric two-wheeler market is majorly dominated by the APAC region. Due to China, the region accounted for the highest sales of electric two-wheelers in the world in 2020, registering a market share of over 95%. The trend is expected to continue in the forthcoming years. APACregionishometosomeofthelargestelectrictwo-wheelermanufacturers inthe world. Furthermore, the region leads over the other regions in terms of population density, industries, universities, airports, ports, etc. Moreover, as masses in the region prefer traveling by two-wheelers, electric two-wheelers have gained steep market penetration in the past five years. The trend is anticipated to continue in the forthcoming years. Key market players in the electric two-wheeler market include: Niu International, Yadea Technology Group Co.,Ltd., Jiangsu Xinri E-Vehicle Co.,Ltd., Viar Motor Indonesia, Zero Motorcycles, Inc., Honda Motor Company Ltd., Deco Green EnergyCO. LTD, HeroElectric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ampere Vehicles Private Limited Global electric two-wheeler market is fragmented with a lot of well-established players having presence in several countries. Niu International, Yadea Technology Group Co.,Ltd., Jiangsu Xinri E-Vehicle Co.,Ltd, Viar Motor Indonesia, Zero Motorcycles, Inc., Honda Motor Company, Ltd, Deco Green Energy CO., LTD., Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ampere Vehicles Private Limited have dominating presence in global electric two-wheeler market. “APACholdsthelargest revenue shares of 97.52% in the market and is anticipated to be leading region in the upcoming market on the account of availability of well-established electric two-wheeler industry. Furthermore, the market's growth is being aided by the quick increase in research and development in the field, as well as the increasing environment concerns. New market players are advised to invest and focus on the research and development of the electric two-wheelers and services for the brand establishment. Collaborations and regulated deals with the established market players would help the prospects of the new market player,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 20 Automotive © TechSci Research 20
Sample Data -Snapshot Global Electric Two-Wheeler Market Size, By Value (USD Million), By Volume (Thousand Units), 2016-2026F CAGR 2016-2020 CAGR 2021E-2026F By Value: xx% By Value: xx% By Volume: xx% By Volume: xx% 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Value (USD Million) Volume (Thousand Units) Europe Electric Two-Wheeler Market Share, By Vehicle Type, By Volume, 2016-2026F 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Scooter/Mopeds 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% Motorcycle 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% France Electric Two-Wheeler Market Share, By Battery Type, By Volume, 2016-2026F 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Lead Acid 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% Li-ion 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 21 Automotive © TechSci Research 21
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