Electric Two-Wheeler Market Size to Surpass US$ 72.5 Billion at a CAGR of 13.18% by 2028

According to the latest report by IMARC Group, The global electric two-wheeler market size reached US$ 35.3 Billion in 2022.

UNITED STATES, February 15, 2023 /EINPresswire.com/ -- IMARC Group has recently released a new research study titled "Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global electric two-wheeler market size reached US$ 35.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

An electric two-wheeler is a plug-in electric vehicle powered by a rechargeable battery to drive electric motors. It produces less vibration and is easy to recharge and maintain. It is lightweight, noiseless, and economical as compared to conventional gasoline and diesel-powered two-wheelers. As a result, it is gaining immense traction among consumers for commuting short distance at a high speed.

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Electric Two-Wheeler Market Trends and Drivers:

At present, rising environmental concerns about the emissions released by fuel vehicles represent one of the key factors catalyzing the demand for electric two-wheelers. In line with this, the growing popularity of electric vehicles (EVs) due to the cost-effective power source and zero pollution emissions is strengthening the market growth. Additionally, the increasing adoption of electric two-wheelers by logistic companies to facilitate fast delivery at short distances is creating a favorable market outlook. Besides this, key players are integrating lithium-ion, sealed lead acid (SLA), nickel metal hydrate, and solid-state batteries in electric two-wheelers to offer maximum convenience to consumers. They are also focusing on introducing appealing designs and making electric two-wheelers less energy-intensive, which is fueling the market growth across the globe. Furthermore, the increasing affordability and easy availability of electric two-wheelers through online and offline distribution channels are propelling the growth of the market across the globe.  

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

AIMA Technology Co. Ltd.
Ampere Vehicles Pvt. Ltd.
BMW AG
Energica Motor Company S.p.A.
GOVECS AG
Hero Electric Vehicles Pvt. Ltd.
Mahindra GenZe
Terra Motors Corporation
Vmoto Limited
Yadea Technology Group Co. Ltd.
and Zero Motorcycles

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The report has segmented the market on the basis of Product Type, End-User and Region.

Breakup by Vehicle Type:

Electric Scooter/Moped
Electric Motorcycle

Breakup by Battery Type:

Lithium-Ion
Sealed Lead Acid (SLA)

Breakup by Voltage Type:

<48V
48-60V
61-72V
73-96V
>96V

Breakup by Peak Power:

<3 kW
3-6 kW
7-10 kW
>10 kW

Breakup by Battery Technology:

Removable
Non-Removable

Breakup by Motor Placement:

Hub Type
Chassis Mounted

Market Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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