Global Electric Two-wheeler market is expected to grow with 10.55% CAGR by 2024-29.

In recent years, the transportation sector has witnessed a significant shift towards sustainability, driven by environmental concerns and technological advancements. One of the most promising developments in this regard is the emergence of electric two-wheelers. These vehicles offer a clean, efficient, and convenient mode of transportation, contributing to reduced carbon emissions and improved urban mobility.  With growing awareness of climate change and air pollution, consumers are increasingly seeking eco-friendly alternatives to traditional gasoline-powered vehicles. Electric two-wheelers produce zero tailpipe emissions, making them a cleaner option for urban commuting. Electric two-wheelers offer significant cost savings over their gasoline counterparts in terms of fuel and maintenance expenses. Electricity is generally cheaper than gasoline, and electric vehicles have fewer moving parts, reducing the need for regular maintenance. Advances in battery technology have greatly improved the range and performance of electric two-wheelers. Lithium-ion batteries, in particular, offer higher energy density and faster charging times, making electric vehicles more practical for daily use. With increasing traffic congestion and limited parking space in urban areas, electric two-wheelers provide a convenient solution for short-distance travel. Their compact size allows riders to navigate through crowded streets and easily find parking, making them ideal for commuting in busy city centers. The two- and three-wheeler markets often referred to as the "close to the bottom peaches" of the EV business, has been the main drivers of this growth. They are more affordable than electric passenger or commercial vehicle segments, making them accessible to a wider range of consumers. The market is majorly driven by the increasing support of governments. Besides, the growing network of charging infrastructure is catalyzing the market. Establishing more charging stations and developing fast-charging technologies have made it more convenient for electric two-wheeler owners to charge their vehicles, further boosting the market growth.

The electric two-wheeler market is experiencing significant growth due to rising technological advancements. Manufacturers are constantly innovating to enhance the performance, range, and features of electric scooters & motorcycles. These advancements include improvements in battery technology, motor efficiency, connectivity features, and the use of lightweight materials. As a result, electric two-wheelers are becoming more appealing to consumers, offering longer ranges, faster charging times, and smart features. This technological progress is driving the adoption of electric two-wheelers and contributing to market expansion as they address the demand for cleaner & more efficient urban transportation solutions. Increasing fuel prices are driving the market growth as consumers seek more cost-effective & eco-friendly transportation options. For instance, in August 2023, petrol prices in the UK surged up to USD 180 per liter. Electric two-wheelers offer relief from rising gasoline expenses, making them an attractive choice for budget-conscious individuals and businesses looking to reduce operating costs while contributing to environmental sustainability. Several governments worldwide provide financial incentives, tax benefits, and subsidies to promote the adoption of electric vehicles, including electric two-wheelers. These incentives make electric two-wheelers more affordable and attractive to consumers. Furthermore, the rising consumer awareness and consciousness about environmental issues are significantly contributing to the market. Individuals are becoming more concerned about climate change and air pollution, leading them to choose electric two-wheelers as a cleaner and greener mode of transportation.

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