24 © TechSci Research Industry Brief 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 USD 10 , 629 . 17 million in 2020 and is expected to grow at a steady CAGR of 14 . 08 % during the forecast period to reach USD 26 , 476 . 81 million 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 . The growing number of market participants will also contribute significantly to the global electric two - wheeler industry's growth over the next five years . The growth in ongoing research and development to develop more efficient electric two - wheelers having less charging time and more range, increasing environmental concerns, growing health concerns, growing electric two - wheeler manufacturing, rising demand for emission - free two - wheelers, lower running and maintenance cost coupled with growing government support for electric vehicles are expected to driving the market in the next five years, boosting the electric two - wheeler industry worldwide . Aside from that, the high cost of replacing a battery, scarcity of skilled mechanics, kilometers range, lack of electric two - wheeler charging infrastructure and lack of awareness are some of the primary challenges limiting the market's growth . The global 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 . Based on range, the market is further fragmented into Less than 50 Km, 50 - 100 Km, 101 - 150 Km, Above 150 Km . The majority of the electric two - wheelers sold in the year 2020 had the range of 50 - 100 Km, which was then followed by 101 - 500 Km . The past five years have witnessed enormous growth in electric two - wheelers having a range above 150 Km, owing to which electric two - wheelers having a range above 150 Km are anticipated to be the fastest - growing segment in the next five years . Based on battery capacity, the market is bifurcated into > 25 Ah and < 25 Ah . 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 < 25 Ah, as a result, < 25 Ah is holding the commanding share of 83 . 83 % in 2020 in the global electric two - wheeler market . Based on battery 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 and the trend is expected to continue in the forthcoming years as well . 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 . APAC region is home to some of the largest electric two - wheeler manufacturers in the 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 Energy CO . LTD , Hero Electric 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 . “APAC holds the largest 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 .