Electric Two-Wheeler Market to Grow with CAGR 7.5% From 2018 to 2026
The global electric two-wheeler market is anticipated to grow at a CAGR of 7.5% during the forecast period according to a new report by Polaris Market Research. Electric two-wheelers include electric bicycles, electric scooters, electric motorcycles, and others, which are powered through an electric power source. Electric two-wheelers are lightweight, compact, easy to handle, and highly fuel-efficient. A small engineering company based in Austria, Johammer, has developed a futuristic electric cruiser, Johammer J1. This bike is equipped with a 2.4-inch digital display attached to its rear-view mirrors, which displays speed, revs, and warnings. It offers a top speed of 75 mph with an acceleration of 62 mph in 8 seconds. The bike is designed with a motor and controller integrated into the rear wheel to enhance shock absorbance.
The demand for electric two-wheelers has increased over the years owing to the depletion of traditional fuel sources and growing environmental concerns. The growing awareness regarding environmental pollution caused by vehicles run on traditional fuels, and the development of public charging infrastructure have increased the adoption of electric two-wheelers. Governments are introducing stringent regulations regarding vehicular emissions, supporting market growth. Governments across the world have introduced several laws and regulations to monitor vehicular emissions. These regulations have mandated two-wheeler manufacturers to use advanced technologies to combat high emission levels in vehicles.
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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Electric Two-Wheeler Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, the UK, Italy, France, and the Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and the Rest of Asia-Pacific.
Asia-Pacific generated the highest revenue in 2017 owing to increasing awareness regarding the environment, and the growing vehicular population in this region. The increasing resource depletion and development of public charging infrastructure have resulted in the increasing adoption of electric two-wheelers in the region.
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Competitive Landscape and Key Vendors
The global electric Two-Wheeler market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater to the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base. The leading companies profiled in the report include Zhejiang Luyuan Electric Vehicle, Yadea Technology Group, Zero Motorcycles, Energica Motor Company, Sanyang Industry, Alta Motors, Guangzhou Camqi Electric Vehicle, Yobykes, Ampere Vehicles, and Jiangsu Xinri E-Vehicle Co. Ltd.
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Market Segment Outlook
- Electric Scooters
- Electric Motorcycles
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