The Global Electric Two-wheelers (E2W) market is expected to grow at a CAGR of 7.11 percent over the period 2013-2018.
E2W is a term used for electric motorcycles, scooters, and bicycles, powered by batteries instead of liquid fuel.
It consists of a DC motor, controller, battery, and charger.
They are more environment friendly and a better fuel saving alternative when compared to liquid fuel-powered two-wheelers, preferred for short-range travel requirements.
READ ALSOÂ E-bicycle global market sale to touch 40.3 m by 2023
The Europe and Americas are showing a growing interest towards E2Ws. In addition, an increased demand from the markets in these regions is experienced lately.
Both the above said factors are considered to drive the growth of Global Electric Two-wheelers market.
E2Ws are market as well as consumer favorites due to the longer lifespan and performance caused by improvements in battery technology.
Incentives and policies to promote the purchase and ownership of E2Ws are driving factor for the growth of the market.
Adoption of E2Ws have boosted up after the announcement of these incentives.
Growing demand in major markets such as China has contributed to the growth of the global market.
The environment pollution caused by the growing use of lead-acid batteries is one of the major challenges faced in the market.
The E2Ws presently available in the market are comparatively less powerful with limited range as compared to conventional two-wheelers.
Key Vendors of E2Ws in the market include Hero Electric Vehicles, Jiangsu Xinri E-Vehicle and Zhejiang Luyuan Electric Vehicle.
Sabeena Wahid
[email protected]