Electric Mobility Industry Data Book – Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Market
Electric Mobility Industry | Forecast 2030
Electric Mobility Industry Data Book – Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Market
Grand View Research’s electric mobility industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research. Surge in the adoption of EVs, especially e-scooters among the youth, light commercial vehicles for rapid transportation with reduced carbon footprints and increasing purchasing capacity across the globe are expected to significantly increase the demand for E- mobility, thereby supporting the market growth.
The global electric two-wheeler, three-wheeler, and light commercial vehicles markets combine to account for USD 101.67 billion in revenue in 2022, growing at a cumulative rate of 19.9% over the forecast period. The combination bundle is designed to provide a holistic view of these highly dynamic market spaces.
Electric Two-Wheeler Market Insights
The global electric two-wheeler market comprises markets for electric scooters and electric motorcycles. In India, a growing number of start-ups and their rising focus on research development activities pertaining to the integration of electronics and other latest technologies has bolstered the electric two-wheeler market growth in the country. For instance, in November 2022, Simple Energy, an Indian start-up had announced to launch of its electric scooter “Simple One” in March 2023. The company is investing in the research & development of its own propriety motor for the Simple Energy electric scooters. Thus, with better engineering and manufacturing capabilities the company is poised to launch a new product in the Indian market.
Order your copy of the Free Sample of “Electric Mobility Industry Data Book – Two-Wheeler, Three-Wheeler and Light Commercial Vehicles Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research
Electric Scooters Market insights
The global electric scooters market size was estimated at USD 33.18 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.9% from 2023 to 2030.The increasing demand for fuel-efficient vehicles, coupled with growing concerns over Greenhouse Gas (GHG) and carbon emissions, is anticipated to drive the adoption of electric scooters (e-scooters) during the forecast period. Stringent emission norms by the government agencies, such as emission standards for GHG emissions by the U.S. Environmental Protection Agency (EPA) and BS-VI in India and China, are driving the market for e-scooters.
Electric Motorcycle Market Insights
The global electric motorcycle market size is worth USD 30.11 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 19.0% from 2023 to 2030. The market is expected to grow due to increasing demand for energy-efficient commuting options, rising concern for carbon emission by ICE-based two-wheelers, and increasing fossil fuel prices worldwide coupled with depleting reserves contributing to market growth. Furthermore, an increasing interest of established two-wheeler market players entering electric motorcycle space and an advent of electric motorcycle startups providing technologically advanced vehicles also supports the market growth.
Electric Three Wheeler Market insights
The global electric three wheeler market size was valued at USD 829.5 million in 2021 and is anticipated to register a compound annual growth rate (CAGR)of 7.5 % during the forecast period. The market is expected to experience growth owing to the rising inclination towards electric vehicles over conventional vehicles powered by fossil fuel. The growing concentration of greenhouse gases in the environment has promoted society to look for sustainable modes of transportation options, especially electric three-wheeler vehicles. Moreover, new startups such as Nobecars, Arcimoto, and others are booming in the electric three-wheeler landscape, further driving the market growth.
Electric Light Commercial Vehicles Market Insights
Increasing demand for the lightweight, fuel-efficient, and cost-effective vehicle for the transportation of goods is fueling the growth of light commercial vehicles such as pick-up trucks, vans and minibus in the market. Additionally, the booming e-commerce sector is further creating demand for the logistics transportation service, an electric light commercial vehicle which offers tax incentives, contributes to reducing fuel emission, and are affordable. Thus, LCVs are widely preferred for door-to-door delivery, pick, and drop, and shipping service in the market.
Moreover, government initiatives to reduce the global carbon footprint has positively impacted the growth of light commercial vehicles. For instance, in 2019, European Union set a mandate to meet the regional CO2 emission targets, the new LCVs manufactured vehicle fleet must emit up to 147g CO2/KM and from 2035, all the new light-duty manufactured must be zero-emission vehicle. Thus, government efforts have resulted in the increasing the share of e-vans from 1.4% in 2020 to previous year. Furthermore, to boost the adoption of light commercial vehicle, European government launched the “fit for 55 climate packages” in 2021, a regulatory framework which is expected to propel the adoption rate of electric vans by the consumers.
Electric Mobility Industry segmentation | Forecast 2030
Electric Mobility Industry, By Vehicle Type
Electric Mobility Industry, By Battery
Electric Mobility Industry, By Power
Electric Mobility Industry, By Drive
Electric Mobility Industry, By End Use
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