Thailand Electric Two-Wheeler Market – Analysis and Forecast (2021-2027)

Industry Insights by Product (E-scooters, E-bikes, E-motorcycles, Others), by Battery Type (Sealed Lead Acid, Li-ion, Ni-MH), by Battery Technology (Removable Battery, Non-removable Battery), by Voltage (24V, 36V, 48V, 60V, 72V)

Industry Overview

The Thailand electric two-wheeler market is predicted to grow at 18.4% CAGR during the forecast period in terms of value. The Thailand market is still at nascent stage, however, driven by the fact that non-government organizations are supporting and fuelling electric vehicle adoption.  However, now the government of the country has kick-started its actions towards the adoption of electric vehicles including light electric vehicles. Different products including e-scooters and e-bikes are majorly contributing to the electric two-wheeler market size in Thailand.

Market Segmentation

Insight by Product

Based on product, the market is categorized into e-scooters, e-bikes, e-motorcycles, and others. E-scooters hold the largest share in the Thailand market, in terms of revenue as well as fleet size. E-motorcycles are anticipated to witness the fastest growth at a CAGR of 37.9%, in terms of fleet size, during the forecast period.

Insight by Battery Type

On the basis of battery type, the market is segmented into sealed lead acid, Li-ion, and NiMH. Of all, sealed lead acid is the most common type of battery used in the electric two-wheelers in Thailand. Lower prices are the primary reason behind the highest share of sealed lead acid battery in the Thailand electric two-wheelers market.

Insight by Battery Technology

On the basis of battery technology, the market is categorized into removable battery and non-removable battery. Of both the categories, non-removable batteries are majorly used in the market as it is convenient for electric two-wheelers to plugin and charge batteries instead of removing and charging indoors.

Insight by Voltage

Based on voltage, the market is segmented into 24V, 36V, 48V, 60V, 72V. Of all, 48V electric two-wheeler holds the largest share in the Thailand electric two-wheeler market, followed by 36V two-wheelers. Most of the e scooters run with a battery of 48V which provides it optimum power to perform better in the congested metropolitan cities of the country.

THAILAND ELECTRIC TWO_WHEELERS MARKET HIGHLIGHT

Industry Dynamics

Thailand is still unexplored electric vehicle market and the number of electric vehicles in the country remain low in the country. The country is yet to formulate organized regulations to promote and encourage electric vehicles adoption in Thailand. The market for light electric vehicles in the country is primarily driven by the fact that non-government organizations are supporting and fueling electric vehicle adoption.

However, now the government of the country has kick-started its actions towards the adoption of electric vehicles including light electric vehicles. The government in Thailand plans to run 1.2 million electric vehicles and 690 charging stations in the country by 2036. The Thailand Automotive Institute has signed a letter of intent with Japan External Trade Organization (JETRO) for talks on next-generation vehicles to develop the EV industry in Thailand.

Competitive Insight

STAR 8 (THAILAND) Co. Ltd., UDA Motor Co. Ltd, Honda Motor Company, Ltd., E-Revolution Co Ltd, and Ningbo MYWAY Intelligent Technology Co. Ltd. are some of the key players operating in the Thailand electric two-wheelers market.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Product

1.2.2. By Battery Type

1.2.3. By Battery Technology

1.2.4. By Voltage

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1.  By Product

3.1.1. E-Scooters

3.1.2. E-Bikes

3.1.3. E-Motorbikes

3.1.4. Others

3.2.  By Battery Type

3.2.1. Sealed Lead Acid

3.2.2. Li-ion

3.2.3. Ni-MH

3.3.  By Battery Technology

3.3.1. Non-removable/Plugin

3.3.2. Removable

3.4.  By Voltage

3.4.1. 24V

3.4.2. 36V

3.4.3. 48V

3.4.4. 60V

3.4.5. 72V

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Major Drivers

4.1.2. Major Restraints

4.1.3. Key Trends

4.1.4. Key Opportunities

4.2.  Industry Ecosystem

4.2.1. Value Chain Analysis

4.2.2. Regulatory Framework

4.3.  Competitive Insight

4.3.1. Competitive Analysis of Key Players

4.3.2. Market Attractive Analysis

5. Thailand Market Estimate and Forecast

5.1.  By Product

5.2.  By Battery Type

5.3.  By Battery Technology

5.4.  By Voltage

6. Company Profiles

6.1.  STAR 8 (THAILAND) Co. Ltd.

6.1.1. Snapshot

6.1.2. Overview

6.1.3. Offerings

6.1.4. Financial Insight

6.1.5. Recent Developments

6.2.  UDA Motor Co. Ltd.

6.2.1. Snapshot

6.2.2. Overview

6.2.3. Offerings

6.2.4. Financial Insight

6.2.5. Recent Developments

6.3.  Honda Motor Company, Ltd.

6.3.1. Snapshot

6.3.2. Overview

6.3.3. Offerings

6.3.4. Financial Insight

6.3.5. Recent Developments

6.4.  E-Revolution Co Ltd.

6.4.1. Snapshot

6.4.2. Overview

6.4.3. Offerings

6.4.4. Financial Insight

6.4.5. Recent Developments

6.5.  Ningbo MYWAY Intelligent Technology Co. Ltd.

6.5.1. Snapshot

6.5.2. Overview

6.5.3. Offerings

6.5.4. Financial Insight

6.5.5. Recent Developments

7. Appendix

7.1.  Exchange Rates

7.2.  Abbreviations

Note: Financial insights and recent developments are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 Thailand Electric Two-Wheeler Market Size, By Product, ‘000 Units (2015 – 2020)

Table 5 Thailand Electric Two-Wheeler Market Size, By Product, ‘000 Units (2021 – 2027)

Table 6 Thailand Electric Two-Wheeler Market Size, By Product, USD Million (2015 – 2020)

Table 7 Thailand Electric Two-Wheeler Market Size, By Product, USD Million (2021 – 2027)

Table 8 Thailand Electric Two-Wheeler Market Size, By Battery Type, ‘000 Units (2015 – 2020)

Table 9 Thailand Electric Two-Wheeler Market Size, By Battery Type, ‘000 Units (2021 – 2027)

Table 10 Thailand Electric Two-Wheeler Market Size, By Battery Type, USD Million (2015 – 2020)

Table 11 Thailand Electric Two-Wheeler Market Size, By Battery Type, USD Million (2021 – 2027)

Table 12 Thailand Electric Two-Wheeler Market Size, By Technology, ‘000 Units (2015 – 2020)

Table 13 Thailand Electric Two-Wheeler Market Size, By Technology, ‘000 Units (2021 – 2027)

Table 14 Thailand Electric Two-Wheeler Market Size, By Technology, USD Million (2015 – 2020)

Table 15 Thailand Electric Two-Wheeler Market Size, By Technology, USD Million (2021 – 2027)

Table 16 Thailand Electric Two-Wheeler Market Size, By Voltage, ‘000 Units (2015 – 2020)

Table 17 Thailand Electric Two-Wheeler Market Size, By Voltage, ‘000 Units (2021 – 2027)

Table 18 Thailand Electric Two-Wheeler Market Size, By Voltage, USD Million (2015 – 2020)

Table 19 Thailand Electric Two-Wheeler Market Size, By Voltage, USD Million (2021 – 2027)

Table 20 Snapshot – STAR 8 (THAILAND) Co. Ltd.

Table 21 Snapshot – UDA Motor Co. Ltd.

Table 22 Snapshot – Honda Motor Company, Ltd.

Table 23 Snapshot – E-Revolution Co Ltd.

Table 24 Snapshot – Ningbo MYWAY Intelligent Technology Co. Ltd.

List of Figures

Figure 1 Market Coverage

Figure 2 Research Phases

Figure 3 Secondary Sources for Different Parameters

Figure 4 Methodology

Figure 5 Data Mining & Exploration

Figure 6 Data Triangulation

Figure 7 Assumptions for Market Estimation and Forecast

Figure 8 Thailand Electric Two-Wheeler Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 Thailand Electric Two-Wheeler Market Highlight

Figure 12 Thailand Electric Two-Wheeler Market Size, By Product, ‘000 Units (2015 – 2027)

Figure 13 Thailand Electric Two-Wheeler Market Size, By Product, USD Million (2015 – 2027)

Figure 14 Thailand Electric Two-Wheeler Market Size, By Battery Type, ‘000 Units (2015 – 2027)

Figure 15 Thailand Electric Two-Wheeler Market Size, By Battery Type, USD Million (2015 – 2027)

Figure 16 Thailand Electric Two-Wheeler Market Size, By Technology, ‘000 Units (2015 – 2027)

Figure 17 Thailand Electric Two-Wheeler Market Size, By Technology, USD Million (2015 – 2027)

Figure 18 Thailand Electric Two-Wheeler Market Size, By Voltage, ‘000 Units (2015 – 2027)

Figure 19 Thailand Electric Two-Wheeler Market Size, By Voltage, USD Million (2015 – 2027)