Asia Pacific is Poised to Lead the Global Electric Two Wheeler Market over the Forecast Period 2017 to 2023

Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Electric Two Wheeler Market Research Report.

Market Synopsis:

The technological advancements introduced in the automobile industry has paved the way for the e-vehicles market which has intensified the market growth for electric two wheelers. According to the latest report published by Market Research Future (MRFR), the global electric two wheeler market is poised to grow moderately throughout the forecast period 2017 to 2023.

The dire need for curbing carbon emissions has fueled the market expansion for electric two wheelers. The initiatives undertaken by the governments to reduce carbon footprint across the globe is the key driver of market growth. Other factors favoring the market expansion are low maintenance cost, cost saving related to fuel, etc. The governments in many countries are promoting the embracement of electric two wheelers by imposing a tax on fuel vehicles, framing strict emission laws, subsidizing electric two wheelers, etc. which has catapulted the revenue generation of the market.  The innovations in battery industry are estimated to accelerate electronic two wheeler market over the next couple of years.

Access Report @ https://www.marketresearchfuture.com/reports/electric-two-wheeler-market-5456

Market Segmentation:

By type, the global electric two wheeler market has been segmented into electric scooters and electric motorcycles. The electric scooter segment held the most significant market share in 2016 due to its high demand in developing economies such as India, China, etc. 

By battery type, the global market for electric two wheeler is segmented into sealed lead acid, Lithium-ion (Li-ion), and, others. Although sealed lead acid segment exhibited robust growth in the past due to low cost, but, overheating and bulkiness have led to a shift towards the adoption of Li-ion batteries. The Li-ion segment holds immense potential for growth over the next few years.

By voltage, the market is segment into 36V, 24V, 48V, and, more than 48V. The 48V and more than 48V segments are expected to garner more market share over the forecast period as high voltage levels of batteries open avenues for cost-effective hybridization of vehicles.

Regional Analysis

By region, the global electric two wheeler market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific market accounted for the largest share in 2017 due to shift towards e-vehicles in emerging economies such as China, and, Taiwan. China will be the primary contributor of revenue in the region owing to the government initiatives undertaken in the region that has catapulted adoption of electric two wheelers. China is facing high premature mortality rate due to air pollution and for controlling the same, the government is promoting the adoption of electric cars which has fueled the market growth for electric two wheeler in the Asia Pacific market. The market for electric two wheelers in India is at a nascent stage. Presently, there are more than 400,000 electric two-wheelers on Indian roads, 95% of which are low-speed electric scooters having a speed limit of less than 25km/hr.

The market in North America is poised to exhibit an upward shift due to the early adoption of the technology in the region. Europe market will also grow throughout the projection period due to the concentration of major players and the growth strategies employed by them in the region. The Rest of the World segment will witness steady growth due to the limited market penetration in the region.

Competitive Dashboard:

The key players profiled by MRFR in its report for a deeper understanding of the market include Vmoto Limited (Australia), Jiangsu Xinri E-Vehicle Co., Ltd. (China), YO bykes (India), F-wheel DYU (ChinaRobstep (China), Zero Motorcycles Inc. (U.S.), Hero Electric (India), Ampere Vehicles Private Ltd. (India), Yadea Tech. Group Co., Ltd. (China), and, ), Hybike (China), among others. The strategies developed and employed by the prominent players for strengthening their footholds in the market are product development, technological advancements, competitive pricing, mergers & acquisitions, etc.

Industry Developments:

Lime, an electric bike rental service provider, has launched its services in Louisville, Kentucky. It plans to roll out hundreds of electric two wheelers which can be rented on smartphones.

Tronx Motors, a Smartron company, has launched a smart crossover electric bike in India. It is claimed to be India’s first smart crossover electric bike and is named TRONX ONE.