Saudi Arabia Electric Two-Wheeler Market to Grow at a CAGR of 78.24% through 2027

Improvement in battery technology and the growing popularity of electric micro-mobility are expected to drive the demand for the Saudi Arabia electric two-wheeler market over the forecast period, 2023-2027.

According to TechSci Research report, “Saudi Arabia Electric Two-Wheeler Market - By Region, Competition Forecast & Opportunities, 2017-2027”, the Saudi Arabia electric two-wheeler market is expected to register an impressive CAGR of 78.24% by value in the forecast period, 2023-2027, to reach USD2117.94 thousand by 2027. The growth of the market is attributed to the factors such as growing fuel prices, a rise in environmental concerns about the negative effect of greenhouse gases, and the availability of quality road infrastructure. Consumers are becoming aware of the benefits of investing in two-wheeler vehicles over four-wheeler vehicles, such as easy maneuverability, lower cost, low maintenance and operational costs, and the ability to navigate through dense traffic easily. The E-commerce industry has gained popularity among consumers in the past few years due to high-speed internet penetration, the proliferation of smart devices, and ease of shopping through online platforms. The rise in the demand for two-wheelers from the e-commerce industry is expected to boost Saudi Arabia's electric two-wheeler market growth in the upcoming years.

However, the long charging time of electric two-wheelers and the lack of supportive charging infrastructure may restrain Saudi Arabia electric two-wheeler market growth over the forecast period.

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The Saudi Arabia electric two-wheeler market is segmented into vehicle type, battery capacity, battery type, range, regional distribution, and competitive landscape.

Based on vehicle type, the market is divided into electric scooter & moped and electric motorcycle. Electric scooter & moped segment is expected to dominate the market by growing at a CAGR of 64.83% over the forecast period, 2023-2027. Most people who prefer to travel via electric scooters are the working population, and the continuous increase in the working population is driving the segment demand in the country. Electric scooters & mopeds have wide seating and storage space which makes them ideal for delivery and daily commuting purposes and for making last-mile deliveries.

Based on battery type, the market is divided into lead acid and lithium-ion. The lithium-ion battery segment is expected to hold the largest market share in the forecast period to reach USD191 thousand by 2027. Lithium-ion batteries have a larger storage capacity, making them suitable to cover large distances through electric two-wheeler vehicles and reducing the need to re-fuel in short time intervals.

On the basis of regional analysis, the Northern & Central region is expected to dominate the market over the next five years and capture 51.83% of the overall market share. The electric two-wheeler market is driven by a large population in the region and the demand for two-wheeler vehicles in famous religious places like Riyadh, and Buraidah. The region also boasts an extensive dealership and distribution network consisting of major automotive brands and an expanding base of consumers who can afford electric vehicles, which is expected to accelerate market growth over the next five years.

Major market players operating in the Saudi Arabia electric two-wheeler market are:

• Barq EV
• ONE MOTO Technologies Ltd
• BMW Motorrad
• Hon Hai Precision Industry Co.
• Tacita

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“Oil and gas is the major revenue-generating industry, and the Saudi government is working to reduce its dependency on the oil and gas industry and diversify the income sources for the country. Due to growing air pollution and harsh climatic conditions, the temperature keeps rising to 2-3°C compared to previous years. The Saudi government is allocating funds and introducing policies to produce 50% of the required electricity through renewable energy sources and promote the adoption of electric vehicles among consumers. Therefore, favorable government policies and growing awareness among consumers about the benefits of using electric vehicles are expected to propel Saudi Arabia electric two-wheeler market growth till 2027,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Saudi Arabia Electric Two-Wheeler Market By Vehicle Type (Electric Scooter & Moped and Electric Motorcycle), By Battery Capacity (<25Ah and >25Ah), By Battery Type (Lead Acid and Li-ion), By Range (Less than 50 Km, 50–100 Km, 100–150 Km, Above 150 Km), By Region, Competition Forecast & Opportunities, 2017-2027”, has evaluated the future growth potential of Saudi Arabia electric two-wheeler market and provides statistics & information on market size, 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 Saudi Arabia electric two-wheeler market.

 

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What’s Driving the Growth of Electric Two-Wheeler Market?

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. 

 

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 | 𝐓𝐞𝐜𝐡𝐒𝐜𝐢 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

 

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.

 

𝐌𝐨𝐫𝐞 𝐀𝐟𝐟𝐨𝐫𝐝𝐚𝐛𝐥𝐞 𝐎𝐩𝐭𝐢𝐨𝐧𝐬

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.

 

𝐄𝐕𝐬 𝐂𝐨𝐦𝐞 𝐰𝐢𝐭𝐡 𝐒𝐦𝐚𝐫𝐭 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬

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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Electric Two-Wheeler Market to Grow at a CAGR of 14.08% During the Forecast Period

 Rising demand for emission free automobiles is driving the growth in global electric two-wheeler market in the forecast period, 2022-2026

According to TechSci Research report, “Electric Two-Wheeler Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, the global electric two-wheeler market stood at USD10,629.17 million in 2020 and is expected to grow at a steady CAGR of 14.08% during the forecast period to reach USD26,476.81 million in 2026 on account of rising demand for emission-free two-wheelers and increasing environmental concerns.

Electric two-wheelers, classified into motorcycles and scooters, are plug-in electric vehicles equipped with no more than two wheels. An electric two-wheeler's propulsion and the accessory system are powered exclusively by a zero-emissions electricity source. The power unit that propels the electric two-wheeler runs on electricity stored onboard in a rechargeable battery.

The growing number of market participants will also contribute significantly to the global electric two-wheeler industry's growth over the next five years. The growth in ongoing research and development to develop more efficient electric two-wheelers having less charging time and more range, increasing environmental concerns, growing health concerns, growing electric two-wheeler manufacturing, rising demand for emission-free two-wheelers, lower running and maintenance cost coupled with growing government support for electric vehicles are expected to driving the market in the next five years, boosting the electric two-wheeler industry worldwide. Aside from that, the high cost of replacing a battery, scarcity of skilled mechanics, kilometers range, lack of electric two-wheeler charging infrastructure and lack of awareness are some of the primary challenges limiting the market's growth.

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The global electric two-wheeler market is segmented based on vehicle type, range, battery capacity, battery type, region, and competitional landscape. Based on vehicle type, the market is further fragmented into Scooter/Mopeds and Motorcycle, with Scooter/Mopeds holding the dominating market share of 89.66% in 2020. The significant market share of Scooter/Mopeds can be attributed to the reasons such as lightweight, lower prices, less charging time, good maneuverability, etc. Owing to growing research and development in electric motorcycles, the motorcycle segment is anticipated to be the fastest-growing segment in the forecast years.

Based on range, the market is further fragmented into Less than 50Km, 50-100Km, 101-150Km, Above 150Km. The majority of the electric two-wheelers sold in the year 2020 had the range of 50-100Km, which was then followed by 101-500Km. The past five years have witnessed enormous growth in electric two-wheelers having a range above 150Km, owing to which electric two-wheelers having a range above 150Km are anticipated to be the fastest-growing segment in the next five years.

Based on battery capacity, the market is bifurcated into >25Ah and <25Ah. Most of the electric two-wheelers sold in the year 2020 had battery capacity <25 Ah. As the capacity of a battery is designed on the basis of various factors such as the time, it will take to charge the battery, battery weight, battery size, research and development. The majority of electric two-wheeler manufacturers are producing electric motorcycles having battery capacity <25Ah, as a result, <25Ah is holding the commanding share of 83.83% in 2020 in the global electric two-wheeler market.

Based on battery type, the market is further bifurcated into Lead Acid and Li-ion. The market of Lead-acid batteries is mature owing to its long-standing history and most nubile technology. Lead-acid batteries are low-cost batteries that are created by placing negative lead and positive lead dioxide electrodes into the sulfuric acid electrolyte. The lead acid-based batteries have significant applications in sustainable markets such as hybrid electric vehicles (HEV), start-stop automotive systems and grid-scale energy storage applications. Owing to its lower cost and most mature technology Lead Acid is holding the dominating market share of 84.87% in 2020 in the global electric two-wheeler market and the trend is expected to continue in the forthcoming years as well.

Based on region, the market is further fragmented into APAC, Europe, Americas, Rest of the World. The global electric two-wheeler market is majorly dominated by the APAC region. Due to China, the region accounted for the highest sales of electric two-wheelers in the world in 2020, registering a market share of over 95%. The trend is expected to continue in the forthcoming years.

APAC region is home to some of the largest electric two-wheeler manufacturers in the world. Furthermore, the region leads over the other regions in terms of population density, industries, universities, airports, ports, etc. Moreover, as masses in the region prefer traveling by two-wheelers, electric two-wheelers have gained steep market penetration in the past five years. The trend is anticipated to continue in the forthcoming years.

Key market players in the electric two-wheeler market include :

• Niu International
• Yadea Technology Group Co.,Ltd.
• Jiangsu Xinri E-Vehicle Co.,Ltd.
• Viar Motor Indonesia
• Zero Motorcycles, Inc.
• Honda Motor Company Ltd.
• Deco Green Energy CO. LTD
• Hero Electric Vehicles Pvt. Ltd.
• Okinawa Autotech Pvt. Ltd.
• Ampere Vehicles Private Limited

Global electric two-wheeler market is fragmented with a lot of well-established players having presence in several countries. Niu International, Yadea Technology Group Co.,Ltd., Jiangsu Xinri E-Vehicle Co.,Ltd, Viar Motor Indonesia, Zero Motorcycles, Inc., Honda Motor Company, Ltd, Deco Green Energy CO., LTD., Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ampere Vehicles Private Limited have dominating presence in global electric two-wheeler market.

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“APAC holds the largest revenue shares of 97.52% in the market and is anticipated to be leading region in the upcoming market on the account of availability of well-established electric two-wheeler industry. Furthermore, the market's growth is being aided by the quick increase in research and development in the field, as well as the increasing environment concerns. New market players are advised to invest and focus on the research and development of the electric two-wheelers and services for the brand establishment. Collaborations and regulated deals with the established market players would help the prospects of the new market player,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Electric Two-Wheeler Market - Global Industry Size, Share, Trends, 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, Competition Forecast & Opportunities, 2026”,  has evaluated the future growth potential of global electric two-wheeler market and provides statistics & information on market size, 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 global electric two-wheeler market.

 

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

 

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Spain Electric Two-Wheeler Market to grow at a Significant Rate through 2026 – TechSci Research

 Growing affordability and consumer preference for clean energy automobiles is expected to drive the demand for Spain electric two-wheeler market in forecast period.

According to TechSci Research report, “Spain Electric Two-Wheeler Market By Vehicle Type (Electric Scooter/Moped and Electric Motorcycle) By Battery Capacity (<25Ah and >25Ah) By Battery Type (Lead and Li-ion) By Company, By Region, Forecast & Opportunities, 2026”, Spain electric two-wheeler market is expected to witness steady growth in the next five years owing to improvements in battery technology which facilitates the electric wheelers to cover long distances. Expansion of tourism industry in Spain is increasing the demand for two-wheelers as it is highly convenient to use and is more affordable than four-wheeler market. Growing consumer awareness regarding economic and ecological benefits is driving the electric two-wheelers market demand. Rising urbanization in search of better employment opportunities and quality living standards is shifting preference of consumers to opt for low carbon emission electric vehicles. Introduction of government initiatives and awareness programs to lower the carbon emissions into the environment is considered a major factor for the market growth. Electric two-wheeler is widely used for delivery and e-commerce companies for providing postal services which is increasing the market penetration in Spain. Increasing initiatives by government and key players to install electric charging stations at commercial places is boosting the electric two-wheelers market growth. Rising consumer awareness about surging pollution levels and the air-borne diseases is contributing significantly to market growth for the next five years. Use of high-quality materials to improve the aesthetics and lower the weight of electric two-wheeler vehicles is bolstering the market demand in Spain. Companies dealing in electric vehicle are investing heavily to develop electric two wheelers with maximum torque and high power to cater the growing need for long range electric vehicles. Another advantage of using electric two wheeler vehicles is that it can easily pass through the congested streets and often consists of removable and rechargeable battery which provides the facility to charge indoors. Increasing demand for environment favorable climate regulating pollution and environmental conservation is paving the way for the market growth. Vehicle manufacturers are continuously focus on improving the vehicle efficiency while cutting down the manufacturing and operational cost. Manufacturers are providing additional customizations that is further reducing the operational costs.

Due to the ongoing pandemic COVID-19 complete lockdown was observed all around the world. Disruption in supply chain was observed and manufacturing units were shut down. Vehicle sales have taken a huge hit and vehicle manufacturers must adjust the vehicle production. After the lockdown is lifted, electric two-wheeler market is set to pick up the pace eventually.

However, loss of electric charging infrastructure and high initial investments with performance constraints may hamper the electric two-wheeler market growth for the forecast period.

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Spain electric two-wheeler market is segmented into vehicle type, battery capacity, battery type, region, and company. Based on vehicle type, market is further divided into electric scooter/moped and electric motorcycle. Electric motorcycle segment is expected to dominate the market throughout the forecast period 2022-2026. Electric motorcycles can cover long distance than its counterparts and serve different purposes including racing, cruising, travelling, among others. Electric scooters have highly compatible design to incorporate electric propulsion system but is able to cover only small distances after getting charged which is considered a major performance constraint.

Yadea Group Holdings Ltd., AIMA Technology Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd., Zhejiang Luyuan Electric Vehicle, Dongguan Tailing Electric Vehicle Co., Ltd., Shandong Incalcu, Electric Vehicle Co., Ltd., Hero Electric Vehicles Pvt Ltd., Okinawa Autotech Pvt. Ltd., Gogoro, Inc., Zero Motorcycles, Inc. are the leading players operating in Spain electric two-wheeler market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several electric two-wheeler manufacturers are coming up with their technologically advanced offerings.

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“Increasing prices of petroleum and diesel is creating the opportunities electric vehicle market growth. Depletion of the fossil fuels and electric vehicle’s ability for lower carbon emissions is accelerating the electric vehicles demand in Spain. Electric two-wheeler vehicle uses electricity as a fuel which is leading to lower the operational and maintenance costs. Electric two-wheelers are more convenient than the conventional ones. Manufacturers are investing heavily to develop the electric two-wheeler market which is propeling the market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.

“Spain Electric Two-Wheeler Market By Vehicle Type (Electric Scooter/Moped and Electric Motorcycle) By Battery Capacity (<25Ah and >25Ah) By Battery Type (Lead and Li-ion) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of Spain 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 of Spain electric two-wheeler market.

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