Global Market for Electric Two-Wheel Vehicles Is Expected to Double Over the Decade
Electric bicycles, scooters, motorcycles, and micromobility devices have no emissions and occupy less physical space compared to full-sized cars
A new report from Navigant Research analyzes the global market for electric two-wheel vehicles (E2WVs), providing global market forecasts for annual unit sales and revenue through 2030.
E2WV technologies are emerging to address the congestion, poor air quality, and lack of mobility options negatively affecting transportation markets around the world. Electric bicycles (e-bikes), electric scooters (e-scooters), electric motorcycles (e-motorcycles), and micromobility devices have no emissions, occupy less physical space compared with full-sized cars, and provide consumers with more affordable and convenient transportation options. Click to tweet: According to a new report from @NavigantRSRCH, the global market for E2WV revenue is expected to grow from $28.2 billion in 2019 to more than $56.0 billion by 2030 at a compound annual growth rate (CAGR) of 6.4%.
“Established multinational companies are struggling with stagnating and even declining sales of traditional bicycles and gasoline scooters and motorcycles,” says Maria Chavez, research analyst at Navigant Research. “With E2WV sales growing significantly over the past 2-3 years in most major world markets, large household names have entered the industry with innovative and substantive product offerings.”
According to the report, major manufacturers are crucial for the mainstream adoption of E2WVs as they have the capital, brand awareness, and customer base to expand these markets at scale. This evolution of market dynamics, as well as improvements in battery technology, is expected to continue broadening the opportunity for two-wheel vehicle electrification.
The report, Electric Two-Wheel Vehicles, analyzes the global market for E2WVs. The study provides a detailed analysis of the market opportunities, key drivers of growth, and technology trends associated with E2WVs. Global market forecasts for annual E2WV unit sales and revenue extend through 2030 and are segmented by technology and region. Annual e-scooter sharing trips and revenue from micromobility services are also forecast. Profiles of key E2WV manufacturers and suppliers are also provided in the report. An Executive Summary of the report is available for free download on the Navigant Research website.
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Lindsay Funicello-Paul
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*The information contained in this press release concerning the report, Electric Two-Wheel Vehicles, is a summary and reflects Navigant Research’s current expectations 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 Navigant Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.