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Global Electric Two & Three-Wheeler Market Report 2022: Growing Demand for Energy-Efficient Commuting Drives Sector
Global Electric Two & Three-Wheeler Market
Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Global Electric Two & Three-Wheeler Market, by Vehicle Type, by Usage ), by End-user, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global electric two & three-wheeler market held a market value of USD 14,172.5 Million in 2021 and is estimated to reach USD 41,916.9 Million by the year 2030. The market is anticipated to register a CAGR of 12.7% during the forecast period. The market held a volume of 21,231,575.9 (thousand units) in 2021.
The rising awareness related to the energy-efficient modes of transport is directly boosting the growth rate of this industry. Companies are involved in the usage and production of environmentally safe raw materials and components to target a more extensive customer base.
In February 2021, Electric vehicle battery startup Italvolt (Italy), announced an investment of 4 Billion euros (USD 4.9 Billion) to build a factory in Italy to meet growing demand from Europe's automotive industry.
Further to that, the increase in the number of subsidies, tax rebates offered by the government officials around the world for the purchase of electric vehicles is propelling the growth rate. For instance, the government officials in the state of Maharashtra, India declared an EV policy in 2021. Such a policy offers incentives of USD 65.50 per kilowatt-hour of battery capacity to all types of electric vehicles buyers.
On the other hand, owing to the smaller number of EV charging ports, the end user preference for electric vehicles remain questionable in many economies.
Growth Influencers:
Growing demand for energy-efficient commuting
The rising support from public as well as private organizations in support of energy efficient means of transport is propelling the growth of the market. The rising research as well as consumer awareness. An inclination of electric two and three wheelers in many countries can aid in the reduction of several issues of economy, power, environment. The consumers are preferring routes that decrease the power consumption and aid the environment and energy efficient models.
Decreasing Price of Batteries
Regions such as European Union is pushing to boost its battery production on the continent to compete with China, currently home to around 80% of the world's lithium-ion cell manufacturing capacity, with the aim of becoming self-sufficient by 2025. Such strategies direct towards the growing need for safer and efficient components for electric vehicle production, thus creating lucrative opportunities in the near future.
Moreover, the pricing fluctuations and decrease has boosted the market growth. For instance, the price of lithium-ion battery cells declined by 97% in the last three decades. A battery with a capacity of one kilowatt-hour that cost USD 7500 in 1991 costed around USD 181 in 2018.
Segments Overview:
The global electric two & three-wheeler market is segmented into vehicle type, usage, and end user.
By Vehicle Type
2-Wheeler
Three-wheeler
The three-wheeler segment is projected to hold the highest CAGR of 16% owing to the increased sales and awareness of this vehicle type in the developing regions.
By Usage
Personal/ Private
Commercial
Passenger Carrier
Goods Carrier
The personal/ private segment is anticipated to hold an opportunity of more than USD 13,000 Million during 2022 to 2030.
By End User
Individuals (B2C)
Businesses (B2B)
Logistics Companies
Transport (Fleet Operators)
Retail & E-commerce
Utilities
Hospitality
Others
The businesses segment is expected to grow highest with a rate of 13% over the forecast period.
The global electric two & three-wheeler market report answers questions such as:
What is the market size and forecast of the global electric two & three-wheeler market?
What are the inhibiting factors and impact of COVID-19 on the Global electric two & three-wheeler Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the global electric two & three-wheeler market?
What is the competitive strategic window for opportunities in the global electric two & three-wheeler market?
What are the technology trends and regulatory frameworks in the global electric two & three-wheeler market?
What is the market share of the leading players in the global electric two & three-wheeler market?
What modes and strategic moves are considered favorable for entering the global electric two & three-wheeler market?
Report Attribute | Details |
No. of Pages | 372 |
Forecast Period | 2021 - 2030 |
Estimated Market Value (USD) in 2021 | $14172.5 Million |
Forecasted Market Value (USD) by 2030 | $41916.9 Million |
Compound Annual Growth Rate | 12.7% |
Regions Covered | Global |
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Electric Two & Three-Wheeler Market
Chapter 4. Global Electric Two & Three-Wheeler Market Overview
Chapter 5. Global Electric Two & Three-Wheeler Market Analysis, By Vehicle Type
Chapter 6. Global Electric Two & Three-Wheeler Market Analysis, By Usage
Chapter 7. Global Electric Two & Three-Wheeler Market Analysis, By End-user
Chapter 8. Global Electric Two & Three-Wheeler Market Analysis, By Region/ Country
Chapter 9. North America Electric Two & Three-Wheeler Market Analysis
Chapter 10. Europe Electric Two & Three-Wheeler Market Analysis
Chapter 11. Asia Pacific Electric Two & Three-Wheeler Market Analysis
Chapter 12. Middle East & Africa Electric Two & Three-Wheeler Market Analysis
Chapter 13. South America Electric Two & Three-Wheeler Market Analysis
Chapter 14. China Electric Two & Three-Wheeler Market Analysis
Chapter 15. Japan Electric Two & Three-Wheeler Market Analysis
Chapter 16. ASEAN Electric Two & Three-Wheeler Market Analysis
Chapter 17. Nepal Electric Two & Three-Wheeler Market Analysis
Chapter 18. Bangladesh Electric Two & Three-Wheeler Market Analysis
Chapter 19. Australia & New Zealand Electric Two & Three-Wheeler Market Analysis
Chapter 20. Sri Lanka Electric Two & Three-Wheeler Market Analysis
Chapter 21. India Electric Two & Three-Wheeler Market Analysis
Chapter 22. UAE Electric Two & Three-Wheeler Market Analysis
Chapter 23. Saudi Arabia Electric Two & Three-Wheeler Market Analysis
Chapter 24. South Africa Electric Two & Three-Wheeler Market Analysis
Chapter 25. Ethiopia Electric Two & Three-Wheeler Market Analysis
Chapter 26. Egypt Electric Two & Three-Wheeler Market Analysis
Chapter 27. Turkey Electric Two & Three-Wheeler Market Analysis
Chapter 28. Nigeria Electric Two & Three-Wheeler Market Analysis
Chapter 29. UK Electric Two & Three-Wheeler Market Analysis
Chapter 30. Germany Electric Two & Three-Wheeler Market Analysis
Chapter 31. Italy Electric Two & Three-Wheeler Market Analysis
Chapter 32. Spain Electric Two & Three-Wheeler Market Analysis
Chapter 33. France Electric Two & Three-Wheeler Market Analysis
Chapter 34. Poland Electric Two & Three-Wheeler Market Analysis
Chapter 35. Russia Electric Two & Three-Wheeler Market Analysis
Chapter 36. US Electric Two & Three-Wheeler Market Analysis **
Chapter 37. Peru Electric Two & Three-Wheeler Market Analysis
Chapter 38. Argentina Electric Two & Three-Wheeler Market Analysis
Chapter 39. Brazil Electric Two & Three-Wheeler Market Analysis
Chapter 40. Colombia Electric Two & Three-Wheeler Market Analysis
Chapter 41. Company Profile
A selection of companies mentioned in this report includes
Scooters India Limited
Atul Auto Limited
Chongqing Zongshen Tricycle Manufacture Co. Ltd.
Bajaj Auto Ltd.
Terra Motors Corporation
Dilli Electric
Force Motors
Mahindra & Mahindra Ltd
J.S. Auto Pvt Ltd
Lohia
Kinetic Green Energy & Power Solutions Ltd
Piaggio & C.SpA
Mini Metro
Saera Electric
TVS Motor Company
For more information about this report visit https://www.researchandmarkets.com/r/2tyjw2
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