Malaysia Electric Two-Wheeler Market

An electric two-wheeler is a plug-in electric vehicle that stores the electricity in a rechargeable battery and then uses it to drive one or more electric motors. There are basically two types of rechargeable batteries that are usually used in the electric two-wheelers, which includes lithium batteries and lead batteries. With the increasing technological advancements, individuals are increasingly opting for electric two-wheelers as compared to the standard two-wheelers.

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One of the biggest factors that is surging the growth of the Malaysia electric two-wheeler market is the increasing number of government initiatives to support the adoption of electric vehicles in the country. Additionally, the increasing penetration of motorcycles as compared to the three and four-wheelers is another factor that is boosting the growth of the market over the next six years. The surging demand for more individual mobility and the rising number of offers on an electric scooter are certain factors that are attracting a large number of customers towards the market. The government of Malaysia is emphasizing on electrification of two-wheelers, along with the increasing efforts to make Malaysia the regional hub of energy-efficient vehicles are further energizing the market growth. As per the United Nations Framework Convention on Climate Change’s (UNFCCC) 21st Conference of Parties (COP21), Malaysia made a pledge to decrease the carbon emission intensity level by the end of 2030. The country is planning to cut the carbon intensity by 45 percent of 2005’s emission levels. This initiative is indirectly encouraging the people to opt for electric two-wheelers over the coming years.

According to the National Electric Mobility Blueprint, the country is aiming to have 100,000 electric cars, 100,000 electric motorcycles, and 125,000 charging stations by the end of 2020. Moreover, the government is supporting the use of vehicles using green technology by implementing several initiatives such as a 50 percent reduction in road tax for electric and plug-in hybrid vehicles. The ministry has set up a special body, “Vehicle Type Approval,” which aims to identify and approve green technology vehicles, particularly lorries and buses, to decrease the use of CO2 emitting vehicles. However, the high cost of the electric vehicle battery is one of the major factors that is hindering the market growth.

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On the basis of vehicle type, the e-motorcycle segment is anticipated to increase at a higher CAGR in the next six years. The growing awareness regarding the various benefits offered by electric motorcycles such as provide instant torque and power, requires less maintenance, lightweight, and perfect for short-distance traveling, is the major factor that is surging the growth of the segment in the market. Furthermore, the rising usage of e-motorcycles for various applications, including off-roading, racing, cursing, and daily commuting will further drive the segment growth.

Based on the battery type, the sealed lead acid segment is expected to grow at a higher CAGR during the forecast period. This is attributed to the lower cost of the sealed lead acid batteries as compared to the other conventional batteries. On the other hand, the lithium-Ion segment is projected to dominate the electric two-wheeler market over the forecast period. This is mainly due to the strong demand for this type of battery as it offers several exceptional advantages such as higher density, improved efficiency, light in weight, and longer lifespan, which is motivating the end-users to opt for these batteries vehicles.

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

Market Segmentation

Malaysia Electric Two-Wheeler Market by Vehicle Type

• • E-Scooter/Moped
  • E-Motorcycle

Malaysia Electric Two-Wheeler Market by Battery Type

• • Sealed Lead Acid
  • Lithium-Ion

Malaysia Electric Two-Wheeler Market by Technology Type

• • Plug-In
  • Battery

Malaysia Electric Two-Wheeler Market by Distance Covered

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

Malaysia Electric Two-Wheeler Market by Voltage Type

• • 36V
  • 48V
  • 60V
  • 72V