People living in urban areas are realizing the importance of
making a transition to electric vehicles, owing to fluctuating oil and gas
prices and rising global carbon emissions levels from vehicular pollution.
Electric two-wheelers have been predominantly gaining a lot of traction due to
cost-effectiveness and low maintenance, which is attributing to their booming
sales. Besides, increasing monetary and non-monetary incentives and enhanced desire
for sustainable urban mobility and modern transportation are boosting the
global electric two-wheeler market growth. The rise of the e-commerce industry
has led to greater adoption of two-wheelers by logistics organizations for
making last-mile deliveries, thereby increasing the market penetration.
Moreover, the increasing installation of electric vehicle charging stations by
government and private players to boost electric mobility is contributing to
the global electric two-wheeler market growth.
Here are some of the factors positively influencing the adoption
of electric two-wheelers.
๐๐๐ฏ๐๐ง๐๐๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ | ๐๐๐๐ก๐๐๐ข ๐๐๐ฌ๐๐๐ซ๐๐ก
Lithium-ion is the dominant battery technology in electric
vehicles, but it has some shortfalls. Thus, battery manufacturers are finding
alternative cell chemistry and introducing innovative battery technologies that
are cheaper and more energy-efficient compared to the existing ones. In March
2022, Gogoro unveiled a solid-state lithium-ceramic battery for two-wheelers to
deliver high energy density, low charging time, and greater range. These
batteries utilize solid electrodes and electrolytes instead of traditional
liquid or polymer gel found in lithium-polymer batteries, which are more
vulnerable to fires and chemical leaks. Furthermore, battery swapping has
become a popular alternative to charging stations as not everybody can afford 7
to 8 hours of charging time per 500 miles. The battery swapping can help reduce
charging time, consumer anxiety for maintaining battery life, and increase the
range of the e-vehicle. Battery swapping stations have been successfully set up
in countries like China and Taiwan to allow vehicle owners to swap their
batteries in a few minutes.
๐๐จ๐ซ๐ ๐๐๐๐จ๐ซ๐๐๐๐ฅ๐ ๐๐ฉ๐ญ๐ข๐จ๐ง๐ฌ
As gas prices are skyrocketing due to increased energy demands
across the globe, people are increasingly shifting to electric-two wheelers as
they are cheaper than ICE vehicles over the entire life of the vehicle.
Although EVs are priced slightly higher than vehicles running on fuel, the cost
associated with oil change, engine maintenance, etc., add up to be
significantly higher than the margin. Electric two-wheelers do not require
frequent maintenance, and the only cost incurred would be to replace the
battery after using the vehicle for 2-6 years. Besides, electric manufacturers
are introducing affordable EV two-wheeler options, adding to the market growth.
Moreover, the government of various countries is also providing subsidies for
the purchase of electric vehicles to promote the adoption of electric vehicles,
which is projected to boost their demand in the coming years.
๐๐๐ฌ ๐๐จ๐ฆ๐ ๐ฐ๐ข๐ญ๐ก ๐๐ฆ๐๐ซ๐ญ ๐
๐๐๐ญ๐ฎ๐ซ๐๐ฌ
EV manufacturers are constantly innovating and introducing new
models to boost their sales and stay relevant in the market. As the world is digitally
transforming, EV developers are reforming towards adopting hi-end technology to
produce vehicles that are digitally connected. For instance, OLA introduced
unique features like reverse mode incorporating revolutionary reverse
technology to facilitate parking, navigation function, geolocation, digital
cluster, Bluetooth, etc., to enhance riding experience and comfort.
According to TechSci Research report on “Electric Two-Wheeler Market - Global Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2017-2027, Segmented By Vehicle Type (Scooter/Mopeds,
Motorcycle), By Range (Less than 50Km, 50-100Km, 101-150Km, Above 150Km), By
Battery Capacity (<25Ah, >25Ah), By Battery Type (Lead Acid, Li-ion), By
Region”, the global electric
two-wheeler market is expected to grow at a CAGR of 14% during the forecast
period. The market growth can be attributed to the fluctuating fuel prices,
growing availability of affordable models, and expanding electric vehicle
charging infrastructure.
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