Global Market for Electric Two-Wheel Vehicles Expected to Reach $103 Billion By 2031
Market barriers include limited charging infrastructure and safety concerns
A new report from Guidehouse Insights explores the global market for electric two-wheel vehicles (E2WVs). Technologies analyzed include e-bikes, seated e-scooters, and e-motorcycles.
Ridership of E2WVs has experienced strong growth over the past 7-8 years, supported by government regulations that encourage the transition to electric mobility, the expansion of cycle lane infrastructure, and restrictions on vehicle access to cities. According to a new report from Guidehouse Insights, the global E2WV market is predicted to grow at a compound annual growth rate (CAGR) of 10.3%, reaching revenues of $103.3 billion by 2031.
“The market for E2WVs was boosted as a result of the COVID-19 pandemic, and the present global economic environment characterized by high fuel prices and sharp increases in the cost of living provides a strong opportunity for further short-term growth,” says Sagie Evbenata, senior research analyst with Guidehouse Insights. “The outlook for E2WVs remains positive, with governments implementing stronger policies supporting the use of electric micromobility.”
Among the impediments to continued growth is limited charging infrastructure, which is being addressed with the spread of battery swapping programs. Safety is another major challenge, resulting in technologies and regulations being developed to address it, according to the report.
The report, Market Data: Electric Two-Wheel Vehicles, examines the global potential for E2WVs and evaluates how the market will evolve. The report features an overview of the key E2WV technologies (e-bikes, seated e-scooters, and e-motorcycles) and examines the key drivers for growth. It includes global market analyses through 2031, segmented by unit sales and sales revenue as well as E2WV unit sales by power level and the installed base of shared micromobility vehicles. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, Market Data: Electric Two-Wheel Vehicles, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.