Electric two wheelers are increasing becoming popular in important urban transport in various regions of the globe. It ranges from electric bicycle to electric scooters and electric motorcycles. These vehicles are light weight and can maneuver easily through congested streets. These vehicles can be charged easily with the electrical outlet and often have a removable or replaceable battery which also provide the convenience of charging indoors.

Increasing demand for favorable regulatory climate in interest of regulating the pollution and environmental conservation is expected to drive the electric two wheeler demand over the forecast period. The existence of stringent regulatory norms has supported the adoption of clean energy by improving the air quality and reducing the green-house gas emissions thereby reducing the dependence on the crude oil. Government across the globe are focusing towards providing subsidies and incentives to the OEMs and customers in order to lower the electric two wheelers deployment barriers.

However, the electric two wheeler industry is expected to hinder by numerous factors such as lack of infrastructure for vehicle charging and deprived performance of the electric vehicles. High costs associated with the battery prices of Lithium, and nickel–metal hydride (NiMH) is also expected to hamper the industry over the forecast period. Moreover, the disposal issues and weight of the sealed lead acid (SLA) batteries pose as a potential challenge for the manufacturers and OEMs in the adoption of two wheelers.

The electric two wheeler industry can be segmented by type into electric bicycle, electric scooter and electric motorcycles. Electric motorcycles are currently in the introduction phase and are cost comparatively highest as compared to electric scooters and bicycles owing to higher output electric motor and batteries. OEMs are focusing on cutting down the motor costs and improving the performance in order to increase the vehicle efficiency. For instance, in 2015, Brammo Electric Motor Cycles and Zero Electric Motor Cycles have upgraded their product portfolio of electric motorcycles while cutting down the selling prices of all their electric models.

Asia Pacific accounted for almost 90%-92% of the electric two wheelers market. China is the major revenue contributing country in this region. The electric vehicles growth in China is notably spurred by the central government policies. The easy classification of electric bicycle and elimination of licensing and registration need has qualified electric two wheelers to be the best transport option. Most of the cities in China has restricted the use and ownership of the gasoline vehicles in the urban areas.

India is expected to be the next emerging region for electric two wheelers following China. These vehicles are set to outpace the four-wheelers in all-electric mobility drive as all the top manufacturers has lined up their products and are set to be sold to the consumers from 2018. According to Society of Manufacturers of Electric Vehicles (SMEV), the sale of electric two wheelers is expected to outpace the electric car sales. Furthermore, performance of the vehicles have been improved with the costs of Li-ion batteries coming down. The Indian government has targeted to transition the country entirely to the electric vehicles by 2030. In interest of same, many Indian two-wheeler manufacturers such as TVS Motor, Hero MotoCorp, Honda Motorcycle & Scooter India, Bajaj Auto and Yamaha have scheduled the launches of their products from 2018.

The global electric two wheelers market is highly fragmented with majority of the competitors from China are gaining revenue. Constant innovations in new product launches and the partnerships categorize the industry structure. Companies are heavily investing in Research & Development (R&D) of two wheelers to lower the production costs and improve the vehicle performance. Most of the OEMs and suppliers are adopting a combination of indirect and direct distribution channel for attracting more customers and gain control over the distribution costs.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Electric Two Wheeler Market

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