Electric Two-Wheeler Components Market – Global Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Vehicle Type (Motorcycle, Scooter), By Demand Category (OEM, Aftermarket), By Component Type (Battery Packs, DC-DC Converter, Controller & Inverter, Motor, On-Board Chargers, and Other Component Types), By Region and By Competition, 2018-2028
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 43.81 billion |
| CAGR (2023-2028) | 7.71% |
| Fastest Growing Segment | Motorcycle |
| Largest Market | Asia Pacific |
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Market Overview
The Global Electric Two-Wheeler Components Market has valued at USD 43.81 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 7.71%
Key Market Drivers
Environmental Sustainability
One of the primary drivers is the global commitment to environmental sustainability. The transportation sector is a major contributor to carbon emissions, and electric two-wheelers provide an eco-friendly alternative. Governments and consumers alike are increasingly opting for e-bikes and electric scooters as clean and green modes of personal transportation, reducing their carbon footprint.
Urbanization and Congestion
Rapid urbanization has led to increased traffic congestion and pollution in cities. E-bikes and electric scooters are well-suited for urban environments, offering efficient mobility solutions to navigate through traffic, reduce commute times, and minimize congestion. This driver is particularly pronounced in densely populated urban areas.
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Government Incentives
Many governments around the world are incentivizing the adoption of electric two-wheelers. These incentives include subsidies, tax benefits, and dedicated funding for cycling infrastructure. Such government support encourages consumers to invest in e-bikes and electric scooters, making them more accessible and affordable.
Battery Technology Advancements
Advances in battery technology, especially lithium-ion batteries, have extended the range and improved the performance of e-bikes and electric scooters. High-capacity batteries with faster charging capabilities have become a key driver, addressing one of the critical concerns of electric mobilityrange anxiety.
Micromobility Services
The rise of micro mobility services, including e-scooter sharing programs, has bolstered the adoption of electric scooters. These services offer convenient and cost-effective transportation options for short trips within cities, reducing the need for personal vehicles and promoting electric scooter use.
Health and Fitness Trends
E-bikes have gained popularity as they allow riders to combine exercise with commuting. Health-conscious consumers are attracted to e-bikes as a way to stay active while reducing their reliance on cars. This driver has contributed to the e-bike's appeal among a broad demographic.
Pandemic-Induced Shifts
The COVID-19 pandemic accelerated the adoption of personal electric transportation. As people sought safer and socially distanced commuting options, e-bikes and electric scooters emerged as practical solutions. This shift in consumer behavior has led to increased demand for these vehicles.
Technological Innovation
Ongoing innovation in electric powertrains, motors, and components has enhanced the performance, reliability, and ride experience of e-bikes and electric scooters. More intelligent and efficient components, such as regenerative braking systems and in-board navigation, are fueling demand for these vehicles.
Overall, the Global Electric Two-Wheeler Components Market is prospering as a result of mixed factors of environmental consciousness, urbanization issues, government support, battery technology improvement, micro mobility services, health trends, pandemic-led changes, and continuous technological progress. All these drivers together highlight the increasing significance of electric two-wheelers in transforming urban mobility and fostering eco-friendly transportation solutions.
Key Market Challenges
Range Limitations
Range anxiety remains a significant challenge, particularly for e-bikes and electric scooters. Despite advancements in battery technology, consumers worry about running out of charge during longer journeys, which can limit the widespread adoption of these vehicles.
Charging Infrastructure
The availability and accessibility of charging infrastructure are crucial for electric two-wheelers. While urban areas may have a growing network of charging stations, rural and less developed regions often lack adequate infrastructure, hindering the convenience and adoption of electric two-wheelers.
Battery Costs
The cost of lithium-ion batteries, a vital component of electric two-wheelers, remains relatively high. Reducing battery costs is essential to make these vehicles more affordable and competitive with their gasoline-powered counterparts.
Safety Concerns
Ensuring the safety of electric two-wheeler users is a significant challenge. This includes addressing concerns related to battery safety, crash safety standards, and rider protection. Governments and manufacturers need to work together to establish robust safety regulations and promote safety awareness.
Regulatory Hurdles
Regulatory frameworks for electric two-wheelers can vary widely from region to region, creating complexities for manufacturers and consumers. Harmonizing regulations and ensuring consistent standards globally is a challenge to streamline market growth.
Infrastructure Congestion
In urban areas, the proliferation of electric two-wheelers, particularly e-scooters, can lead to infrastructure congestion. Finding ways to manage parking, charging, and the sheer number of vehicles on the road poses challenges for city planners and policymakers.
Market Fragmentation
The electric two-wheeler market is highly fragmented, with numerous manufacturers producing a wide range of vehicles and components. This fragmentation can lead to interoperability issues and challenges in standardizing components across different brands and models.
Customer Education
Educating consumers about the benefits and maintenance of electric two-wheelers is an ongoing challenge. Many potential buyers are unfamiliar with the technology, which can lead to misconceptions and hesitations about adopting electric two-wheelers. Effective marketing and educational campaigns are essential to address this challenge.
Addressing these challenges requires collaborative efforts from governments, manufacturers, and infrastructure providers to enhance the appeal and viability of electric two-wheelers as a sustainable and efficient mode of transportation.
Key Market Trends
Battery Advancements
Advances in battery technology are a prevailing trend. Lithium-ion batteries are becoming more energy-dense, offering longer ranges and faster charging times for e-bikes and electric scooters. Innovations like solid-state batteries and improved battery management systems are enhancing performance and reliability.
Urban Mobility Solutions
Electric two-wheelers are gaining traction as urban mobility solutions. They offer an efficient and eco-friendly means of navigating congested cities and addressing last-mile transportation needs, reducing traffic congestion and pollution.
Micromobility Services
Micromobility services, including e-scooter sharing programs, continue to expand in urban areas. These services provide convenient, short-distance transportation options, making electric scooters a crucial trend in shared mobility and reducing the reliance on personal vehicles.
Smart Connectivity
Smart connectivity features are increasingly integrated into electric two-wheelers. This includes smartphone apps for navigation, vehicle diagnostics, and remote monitoring of battery status. Such features enhance the user experience and connectivity of electric two-wheelers.
Lightweight Materials
Lightweight materials like carbon fiber and aluminum are being used to reduce the weight of e-bikes and scooters. This trend improves energy efficiency and range while ensuring the vehicles remain maneuverable and user-friendly.
Customization and Personalization
Manufacturers are offering customization options for electric two-wheelers, allowing consumers to personalize their vehicles with various accessories, colors, and features. This trend caters to diverse consumer preferences and needs.
Regulatory Support
Governments are increasingly supportive of electric two-wheelers through regulatory measures. Incentives such as subsidies, tax breaks, and reduced registration fees are making e-bikes and electric scooters more accessible to a broader range of consumers.
Global Supply Chain Optimization
To address the increasing demand for electric two-wheelers, manufacturers are maximizing their global supply chains. This movement involves expanding production facilities, securing key components, and optimizing distribution networks to ensure timely delivery to markets across the globe.
Together, these trends emphasize the increasing role electric two-wheelers will play in meeting the mobility challenges in urban areas, mitigating emissions, and making environmentally friendly, technologically innovative, and efficient modes of transport available to consumers. With the evolving market, these trends will help mold the face of electric two-wheeler components and vehicles in the coming years.
Segmental Insights
By Vehicle Type
E-bikes form a large and increasing portion in the Electric Two-Wheeler Components Market. E-bikes are fitted with components like electric motors, batteries, controllers, and sensors to supplement pedaling forces or offer complete electric drive. E-bikes appeal to a wide variety of consumers, ranging from daily commuters who need an efficient and environmentally friendly means of transportation, recreational riders who desire longer range and convenience, to delivery services that depend on them for low-cost and efficient deliveries.
Electric scooters constitute another popular genre in the marketplace. Components in electric scooters include electric motors, batteries, brakes, and electronic control units. They gained acceptance in metropolitan cities, mostly by micro mobility sharing services. Electric scooters are an effortless last-mile vehicle option for the city commuter with lower traffic jams and emissions of carbon. Compact and user-friendly designs in electric scooters create high appeal levels for various segments of users.
The Electric Two-Wheeler Parts Market also involves electric motorcycles and kick scooters. Electric motorcycles are picking up pace, particularly in the enthusiast and performance niches, and their parts comprise high-power electric motors, advanced battery packs, and sophisticated electronics for better performance and safety. Kick scooters, meanwhile, are commonly popular among children and leisure riders with small electric motors and light-weight parts for easy handling.
All these types of vehicles are distinct market segments with different component needs, performance characteristics, and target markets. As urban mobility becomes increasingly complex, these segments are likely to diversify further and promote electric two-wheeler component innovation.
By Demand Category
Consumer e-bikes, mainly utilized for private transportation and recreation, constitute a major share of the market. Consumer e-bikes are built with components to suit daily commuters, recreational users, and outdoor riders. Mid-drive motors, built-in battery systems, simple controls, and ergonomic seating are key components to make the riding experience better. Consumer e-bikes are popular for their comfort and efficiency of travel, making them a top option for urban riders and those who want an environmentally friendly and pleasant experience to explore the environment.
Commercial e-bikes are a niche category for business use and for delivery. Commercial e-bikes are fitted with features that aim to maximize cargo capacity, durability, and performance. Cargo e-bikes, for example, have heavy-duty frames, large cargo platforms, and high-capacity battery systems to carry freight for delivery businesses. Heavy-duty motors, sophisticated braking systems, and cargo-related accessories are components that suit commercial purposes. With the expansion of e-commerce and food delivery businesses, commercial e-bikes become a linchpin for shortening delivery times and emissions in cities.
E-scooters used for shared mobility services are transforming urban mobility and belong to the Demand Category segment. These electric scooters are constructed with longevity, simplicity, and affordability in mind, featuring parts like rugged frames, swappable battery technology, easy-to-use controls, and robust connectivity features. Shared mobility operators count on these components to provide the reliability and availability of their fleets, providing riders with an easy and eco-friendly option for commuting compared to conventional transportation modes. The widespread development of e-scooter sharing schemes within cities highlights the significance of customized components for this segment.
Demand Category segment captures the various applications and inclinations of the Electric Two-Wheeler Components Market. Components are tailor-made to the individual needs of consumers, companies, shared mobility operators, and specialty users, stimulating innovation and growth in the market.
By Component Type
Electric motors drive e-bikes and electric scooters, while component differences extend to hub motors (in the wheel hub), mid-drive motors (within the bike frame), and power ratings that control acceleration and maximum speed. Advances in motor efficiency and torque delivery are improving the experience, allowing more ranges, and accommodating various types of vehicles.
Batteries are essential modules that store and supply electrical power to e-bikes and electric scooters. Lithium-ion batteries of varying capacities are extensively used to supply the necessary range. Battery management systems (BMS) safeguard operation and help prolong battery lifespan. Battery innovation targets energy density, charging efficiency, and costs to overcome range and cost obstacles.
Controllers are the brains of electric two-wheelers, controlling power flow from battery to motor. They handle speed, assist levels, and commonly feature user interfaces, like displays and buttons. Connectivity features are increasingly common, allowing riders to tailor settings and view information using smartphone apps.
Braking systems are very important for ensuring rider safety. Regenerative braking and disc brakes are typical of electric two-wheelers. Regenerative braking returns the kinetic energy as electrical energy to charge the battery, increasing efficiency overall. Sophisticated braking systems with electronic stability control and anti-lock are increasingly found on vehicles.
Frames and chassis parts dictate the strength, weight, and longevity of e-bikes and electric scooters. Lightweight materials such as aluminum and carbon fiber are used more to decrease weight without sacrificing strength. Frame geometry is also responsible for supporting batteries and motor systems, optimizing weight distribution and ride quality.
Suspension components, such as front forks and rear shock absorbers, play critical roles in ride comfort and handling on eMTBs and off-road scooters. These parts absorb shocks, provide traction, and improve stability when riding on different surfaces.
Wheels and tires are critical to ride quality and performance. Parts such as alloy rims, special-performance tires, and tubeless systems all work together to minimize rolling resistance, maximize grip, and overall efficiency.
Accessories are broad and encompass various optional elements, such as lighting setups, fenders, racks, and ergonomic handlebars. Such additions contribute to increased safety, convenience, and utility for users, with considerations to accommodate differing preferences and use purposes.
The Component Type category reflects the multitude of varied aspects that collectively contribute to the operation, performance, and usability of electric two-wheelers. New innovations and tailoring of each component category shape the growth and direction of the market.
e continued growth of electric mobility solutions....
Regional Insights
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Latin America is slowly adopting electric two-wheelers and their parts. Economic downturn and scarce charging points have dampened the adoption pace, but Brazil and Mexico are experiencing growing interest. Incentives from the government in the form of tax rebates and subsidies are pushing people to adopt e-bikes and electric scooters, prompting local component manufacturing. As Latin America overcomes these issues and becomes aligned with environmental objectives, it holds great potential for high market growth, especially in urban areas where clean transportation is a priority issue.
The Middle East and Africa are just beginning to integrate electric two-wheelers and parts into their transportation mix. Certain nations, like the United Arab Emirates, have introduced measures to encourage e-bike and electric scooter usage as well as charging infrastructure development. The region's energy mix, dominated by fossil fuels, is challenging, but changing energy policies and global cooperation are slowly influencing the market. As governments move towards diversifying their energy mix and lowering emissions, the electric two-wheeler component market is likely to increase, particularly in urban centers where sustainable transport is of high importance.
In short, regional perspectives underscore the different dynamics of the Electric Two-Wheeler Components Market influenced by regulatory settings, infrastructure investment, consumer sentiment, and economic conditions. Each region has a distinct role in propelling the global shift towards sustainable and efficient electric mobility solutions, fueling the continuous transformation of the market.
Recent Developments
- In March 2022, Panasonic Corporation has revealedplans to potentially acquire a facility in the United States with the aim ofexpanding its production capacity for lithium-ion batteries, specifically forTesla electric vehicles (EVs). This move is likely to benefit Tesla Inc., withpotential plant locations under consideration in Oklahoma and Kansas.
Key Market Players
- Continental AG
- RobertBosch GmbH
- DensoCorporation
- HellaGmbH & Co. KGaA
- ToyotaIndustries Corporation
- HyundaiMobis
- SamsungSDI Co Ltd
- PanasonicCorporation
- ContemporaryAmperex Technology Co. Ltd.,
- BorgWarnerInc
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