Growing demand for sustainable urban mobility and advanced transportation infrastructure is expected to drive the demand of the ASEAN electric two-wheeler market for the forecast period.
According to TechSci Research report, “ASEAN Electric Two-Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle), By Battery Type (Lead Acid and Li-ion), By Battery Capacity (<25 Ah and >25 Ah), By Range (Less than 50 Km, 50–100 Km, 101–150 Km, Above 150 Km), By Country, Competition Forecast & Opportunities, 2026”, the ASEAN electric two-wheeler market to grow at a steady CAGR for the forecast period, 2022-2026. An electric two-wheeler is cleaner vehicle than its gasoline-powered counterparts. The rise in the technological advancements in battery technology and the growing efforts made by the leading authorities to reduce vehicle emissions into the environment is fueling the demand for the ASEAN electric two-wheeler market. The development of the battery infrastructure is lowering the cost of batteries is making electric scooters affordable for consumers. Original equipment manufacturers are investing in research and development activities to increase the efficiency and capacity of the battery used in electric vehicles. An increase in the collaboration between the electric vehicle market players and leading authorities is boosting the adoption of electric two-wheelers among consumers. Online shared mobility service providers are updating their vehicle fleet, and providing the service to ride electric vehicles at economical rates is accelerating the electric two-wheeler market demand. Rapid urbanization in the developing countries and the growing disposable income of the consumers are raising awareness about the benefits of riding electric vehicles, thereby contributing to the ASEAN electric two-wheeler market growth. Installation of electric charging stations in commercial places like shopping malls, educational institutions and the improvement of the supply chains are expected to foster the market demand. The growing adoption of micromobility services to cover short distances is aiding the high market demand. Availability of on-demand transportation services and growing environmental concerns to boost the manufacturing and sales of electric two-wheelers is expected to propel the market growth for the next five years. An increase in the initiatives taken by the leading authorities to develop the bike-sharing infrastructure and the announcement of projects for building smart cities and smart transportation systems is expected to create lucrative opportunities for the ASEAN electric two-wheeler market growth.
However, the lack of adequate charging infrastructure and competition from the gasoline-driven two-wheelers may restrain the ASEAN electric two-wheeler market growth for the forecast period.
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ASEAN electric two-wheeler market is segmented into vehicle type, battery type, battery capacity, range, regional distribution, and company. Based on the battery type, the market is bifurcated into lead acid and Li-ion. The Li-ion battery type segment is expected to hold the largest market share for the forecast period, 2022-2026. Reduction in the cost of the lithium-ion battery and the higher energy density, smaller size, and lighter weight contribute to the segment growth. The self-discharge rate of lithium-ion batteries is much lower than the other rechargeable batteries. Lithium-ion batteries require low maintenance have higher cell voltage. Based on the vehicle type, the market is divided into scooter/moped and motorcycle. The scooter/moped segment is expected to account for significant market share for the next five years. Electric scooters have zero tail-pipe emissions and do not produce noise, and are highly efficient. Offering incentives and income tax rebates and the development of charging infrastructure are contributing to the market growth. The rise in popularity among the youth and working populations contributes to the market growth.
Asimco Global Inc. TRW Ltd Aftermarket, MAT Holdings, Inc., Sangsin Brake Co., Ltd., FBK Manufacturing Malaysia Sdn Bhd, Tenneco Inc, AC Delco, Robert Bosch (Pty) Ltd, Safeline Brakes (G.U.D. Holdings), and Alfred Teves Brake Systems (Pty) Ltd, among others are the leading players operating in ASEAN electric two-wheeler Market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market.
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“The high demand for food delivery applications and online retail platforms is boosting the demand for last-mile delivery services, especially in urban areas. The development of interactive platforms and the availability of facilities like personalized shopping experience, last-mile delivery, the quick exchange is expected to accelerate the demand for electric two-wheelers as they are quick and do not harm the environment. Also, the transition of economies from conventional vehicles to electric vehicles to lower the pollution level, reach their climate change commitments, and increase the energy security along with boosting the economy is expected to propel the ASEAN electric two-wheeler market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“ASEAN Electric Two-Wheeler Market By Vehicle Type (Scooter/Moped, Motorcycle), By Battery Type (Lead Acid and Li-ion), By Battery Capacity (<25 Ah and >25 Ah), By Range (Less than 50 Km, 50–100 Km, 101–150 Km, Above 150 Km), By Country, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of ASEAN electric two-wheeler market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the ASEAN electric two-wheeler market.
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