The electric two-wheeler market, which consists of electric bicycles, motorcycles and scooters, is expected to experience significant growth opportunities over the forecast period. Large energy companies have also been responsible for a significant portion of all public charging stations. Many countries are stimulating EV deployment, and important players are helping in accelerating the transition to electric driving. Energy companies, utilities and distribution system operators (DSOs) deploy electric vehicle charging networks to diversify their business, capitalizing on the access to the power distribution infrastructure and unique expertise in the electrical system. This deployment makes them anticipate opportunities likely to emerge from demand-side management. For instance, the Elaad Foundation in the Netherlands is pulling together seven network operators with the objective of establishing Europe’s first ultra-fast charging network for electric vehicles
However, the market is expected to experience certain challenges due to the introduction of electric two-wheeler safety and regulations. For instance, from August 2002 to January 2006, electric bicycles were banned in some areas of Beijing due to the concerns over environment, safety and city image issues.
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Electric two-wheeler Market Companies Analyzed in report:
Accell Group (Netherlands), Vmoto Limited (Australia), NYCeWheels (U.S.), Derby Cycle AG (Germany), Easy Motion USA (California), Moustache Bikes (France), Jiangsu Xinri E-Vehicle Co (China), myStromer AG (Switzerland), Karbon Kinetics Limited (U.K.) and Pedego Electric Bikes (California).
The global electric two-wheeler market is majorly driven by the increase in the prices of fuel. The prices of crude oil are increasing very rapidly, with the availability of the crude oil decreasing day by day. Due to these factors, the mindset of the population is shifting their preference towards electric two-wheeler. Also, the developing nations such as China, India, Thailand, and Indonesia, among others are becoming manufacturing hubs for global automotive players. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for electric two-wheeler such as an electric motorcycle, electric bicycle and electric scooter will also rise. The surge in demand for electric two-wheeler worldwide with the increase in the environmental awareness and the various government initiatives undertaken for promoting the electric vehicle adoption drive the growth of the electric two-wheeler market.
Based on the Battery type, the global electric two-wheeler market has been segmented as sealed lead acid, Li-ion and Ni-MH. Amongst these, Li-ion segment is expected to dominate the growth of the market. The lithium-ion batteries possess superior energy, power density and superior cycling ability. The Li-ion battery is considered a core technology for EV applications as they are lightweight and have a high energy density, high power, long life, low self-discharging rate, and wide temperature range. However, the disadvantages of Li-ion batteries are their high cost and safety concerns. These batteries also provide a wide range of advantages such as high energy storage, good cycle life, high energy efficiency and high unit cell voltage.
Based on product, the market has been segmented as Retro, Standing/ self-Balancing and Folding. Amongst these, standing/ self-balancing segment is expected to hold the largest market share during the forecast period. A self-balancing electric two-wheeler is a type of unicycle that is an electric vehicle that uses sensors, gyroscopes, and accelerometers in conjunction with an electric motor to assist a rider with balancing on a single wheeled vehicle. Self-balancing electric vehicles use different types of the gyroscope and various types of sensor to maintain their balance. These electric bikes are well suited for people who are more concerned about safety and people with certain disability.
Geographically, the global Electric two-wheeler market has been divided into four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to dominate the global electric two-wheeler market. The presence of China, Japan and South Korea, is one of the major factors driving the electric motorcycle and scooter market. China is the largest market for an electric two-wheeler. Since 2015, the sales have grown massively in China. However, it has created ample scope for the automakers to cover the region. Moreover, the major automakers have decided to initiate the electric vehicle production in India as well. This decision has been quite a profitable as the government has also taken various steps to make more investment in these countries.
Target Audience of Report:
Research Institute / Education Institute
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