US Electric Two-Wheeler Market

An electric vehicle is a type of vehicle which operates on electric motor instead of an internal combustion engine and is considered as a possible replacement for the currently present automobiles. An electric two-wheeler utilizes the electricity stored in a rechargeable battery to drive the electric motor present in the vehicles, which helps in propulsion.

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The major factors that are bolstering the growth of the electric two-wheeler market include various government initiatives and policies to increase the adoption of electric vehicles across the country and growing demand for electric two-wheelers across the country. In addition, an increase in pollution is leading to a rise in the awareness among the population to reduce the greenhouse gas emissions along with growth in the need to meet the climate obligations are some other factors which are surging the demand for electric two-wheelers in the market. Moreover, an increase in the technological advancements for the manufacturing of advanced electric two-wheelers to provide various features such as implementation of autonomous driving features, is further propelling the growth of the US electric two-wheeler market. The decrease in the prices of lithium-ion batteries and advancement in the battery technology offerings has increased driving range and battery life, which in turn, is attracting new customer base into the market. The major factor which is responsible for hindering the growth of the US electric two-wheeler market includes the high cost of these vehicles.

For instance, The US federal government has started a tax credit for the plug-in electric vehicles, which were purchased after 31^st Dec 2009. The tax credit offered by the government range from USD 2,500 to USD 7,500 for every vehicle that is based on battery capacity and gross vehicle weight rating.

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Based on the vehicle type, the e-motorcycle segment is projected to increase at a faster CAGR over the forecast period owing to the increase in the demand for this type of electric two-wheeler among the population as they have the ability to decrease noise pollution and harmful carbon emission. Moreover, the rising focus of manufacturers towards the development of electric motorcycles comprising high speed and long-range is also a major factor driving the growth of the market in this segment.

Based on the battery type, the lithium segment is expected to increase at a higher CAGR during the forecast period owing to various benefits offered by it such as low self-discharge rate, high energy density, long service life, high energy density & voltage capacity, along with lightweight and fast charging ability among others. In addition to this, the declining price of lithium-ion batteries is further driving the growth of the market in this segment.

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Key Market Developments:

• • In 2020, Zero Motorcycles Inc., an electric motorcycles & powertrains manufacturer, launched the model year 2021 lineup. All the electric motorcycles of the year 2021 line are powered by the company’s cutting-edge Cypher III and Cypher II operating systems.
  • In 2020, Zero Motorcycles Inc. developed a distribution partnership with Garansino Technologies. Through this partnership, the company planned to extend its business operations to a new division in the company.

The US Electric Two-Wheeler market has been segmented on the basis of vehicle type, battery type, technology type, distance covered, and voltage type. Based on vehicle type, the market is segmented into an e-scooter/moped and e-motorcycle. Based on battery type, the market is segmented into sealed lead acid and lithium-ion. Based on technology type, the market is segmented into plug-in and battery. Based on the distance covered, the market is segmented into below 75 miles, 75-100 miles, and above 100 miles. Based on voltage type, the market is segmented into 36V, 48V, 60V, and 72V.

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Key questions answered in this research report:

• • At what pace is the US Electric Two-Wheeler market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the US Electric Two-Wheeler market? What will be the impact of market drivers and market restraints in the future?
  • Which vehicle type generated maximum revenues in 2019 and identify the most promising vehicle types during the forecast period?
  • What are the various battery types of the US Electric Two-Wheeler Market, and how they are poised to grow?
  • What companies are the major participants in US Electric Two-Wheeler Market and their business strategies, how does the competitive landscape look like?

Market Segmentation

US Electric Two-Wheeler Market by Vehicle Type

• • E-Scooter/Moped
  • E-Motorcycle

US Electric Two-Wheeler Market by Battery Type

• • Sealed Lead Acid
  • Lithium-Ion

US Electric Two-Wheeler Market by Technology Type

• • Plug-In
  • Battery

US Electric Two-Wheeler Market by Distance Covered

• • Below 75 Miles
  • 75-100 Miles
  • Above 100 Miles

US Electric Two-Wheeler Market by Voltage Type

• • 36V
  • 48V
  • 60V
  • 72V