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(I-AutoNewsWire.com, September 09, 2019 ) Market Overview
• Electric two-wheelers, as indicates itself, is electrically-powered two-wheelers. A battery pack and a motor are installed to store and transform the electricity to mechanical work. User control is usually attached to the handlebar to brake and adjust the speed. A variety of types and styles are available to consumers in the market and these features are still developing.
Market Dynamics
• Growing demand for alternative fuel vehicles globally and encouragement from the local governments for the adoption of zero-emission vehicles are the major drivers for the growth of the market.
• Alternate Fuel Vehicle is defined as a vehicle that runs on a fuel other than gasoline or diesel, or one that is powered by technology or otherwise, for example, electric, hybrid electric or solar-powered vehicles. Electric Vehicles are picking up a reputation as a result of the increasing ecological concerns and the requirement for a supportable ecosystem in the automotive business. Like all electric vehicles, even electric motorcycles boast environmental benefits. Electric motors are cleaner than gas engines because they don’t use fuel and oil that emit pollutants into the atmosphere.
• Different nations have set strategies to decrease contamination levels from vehicle emanations which is a favourable factor for the electric motorcycle and scooter market growth. Globally, electric vehicles units are increasing and companies are focusing to increase their production units worldwide. For instance, Hero Electric has 600 touchpoints across India. This makes Hero Electric the largest electric two-wheeler player in terms of dealership reach. The company plans to more than double its reach by 2021, and its dealerships will be equipped with both sales and service.
• Huge cost of electric vehicles, mainly due to the high cost of battery used in these vehicles are the key factor hampering the adoption of electric motorcycle and scooter market. Lack of proper infrastructure for electric vehicles to charge and lack of skilled labour force for technical assistance are the other key factors hampering the market growth worldwide.
Market Segmentation
• The market is segmented by Technology Type into removable battery and plug-in. A plug-in electric vehicle (PEV) is any vehicle that can be recharged from an external source of electricity, such as wall sockets, and the electricity stored in the rechargeable battery packs drives or contributes to drive the wheels. Today’s PEVs are state-of-the-art highway vehicles ready to match or surpass the performance of their conventional vehicles. PEVs in all-electric mode are much quieter than conventional vehicles and, unlike conventional vehicles, produce maximum torque and smooth acceleration from a full stop. The sales for plug-in electric vehicles have greater potential. For instance, India, the world's largest market for scooters and motorcycles has annual domestic sales over 19 million in the fiscal year ended March 31, 2018, which is six times of car sales over the same period.
• The market is segmented by Battery Type into sealed lead acid, Ni-MH and Lithium-ion. Lithium-ion segment holds XX% of market share in 2018 and is expected to increase by XX% by 2026 in Global Electric Motorcycle and Scooter Market. Lithium-ion battery separators are additionally used to avoid physical contact among anode and cathode while assisting ion transport by averting short circuit, expanding consistency and quality of the lithium-ion battery. A lithium-ion battery starts an electric motor quicker because lithium has a lower impedance which allows the transmission of energy in one stroke only which is the major advantage for application in electric motorcycles and scooters.
• Asia has several vertically integrated companies with 20 years of experience in making lithium-ion batteries, thus increasing the development of electric vehicles, which will drive the growth for lithium-ion batteries in the forecast period to 2026. As a result of stringent government guidelines on the automotive industry and the transport sector for carbon discharge, makers are moving towards the lithium-ion battery in vehicles and for modern applications which lead to the development of electric motorcycle and scooter globally. Hero Electric was the first brand to launch a lithium-ion-powered electric scooter in India.
Geographical Analysis:
Geographically, the market is segmented into
• North America,
• South America,
• Europe,
• Asia Pacific,
• Middle East
• & Africa.
Competitive Trends
• The competitive environment in the electric motorcycle and scooter market is increasing in recent years with the entry of small and new players besides existing players invading into the electric drive technology in recent years. Some of the major market players in the electric motorcycle and scooters market are Alta Motors, Terra Motors Corporation, AIMA Technology Co Ltd, Ampere Vehicles Pvt Ltd., Hero Electric Vehicles Pvt. Ltd, BMW AG, Yadea Technology Group Co. Ltd, Mahindra GenZe and Energica Motor Company S.P.A
• Several manufacturers are adopting a combination of a direct and indirect distribution channel to attract more customers and make distribution simpler. Manufacturers are focusing on building direct distribution channels through various B2B customers and adopting ecommerce channels for electric motorcycles & scooters sales.
• Companies are focusing to launch new products globally due to the high demand from different applications.
• For instance, Harley Davidson launched their electric bike and it is focusing on EVs to be launched in the U.S. by 2021. In 2017, Yamaha launched two EVs in the global market, Passion E-Street, and Passion E-Dirt, providing 62 mph highway speeds.
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