Thailand Electric Two-Wheeler Market 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 a nascent stage, however, driven by the fact that non-government organizations are supporting and fuelling electric vehicle adoption. The government has kick-started its actions towards the adoption of electric vehicles including electric two wheelers. As urbanization, air pollution and climate change intensify along with rising fuel costs, interest in electric motorcycles is growing. Different products including e-scooters and e-bikes are majorly contributing to the electric two-wheeler market size in Thailand.
Historical Period
2020 - 2024
Base Year Considered
2025
Forecast Period
2026 - 2035
Market Size in 2025
U.S.D. XX Billion
Revenue Forecast in 2035
U.S.D. XX Billion
Growth Rate
18.4%
Segments Covered
By Product, By Battery Type, By Battery Technolog, By Voltage
Report Scope
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered
Thailand
Thailand Electric Two-Wheeler Market Industry Dynamics
Thailand Electric Two-Wheeler Market Trends / Growth Drivers
Thailand is still unexplored electric vehicle market and the number of electric vehicles in the country remains low in the country. The country has yet to formulate organized regulations to promote and encourage electric vehicle adoption in Thailand. Government support, increased popularity of electric vehicles and rising environmental awareness drive the demand for electric two wheelers. These vehicles provide a cost-effective alternative. Also their lower operating costs and zero emissions align with urban mobility needs. Electric two wheelers are more affordable specially for the middle class of the society that plays an important role in the adoption of these vehicles to reduce the transportation costs. Subsidies and incentives offered by the Thai government has introduced various incentives to promote electric vehicles. OEMs such as Honda, Yamaha, and Kawasaki are now venturing into electric two-wheelers, also startups are creating innovative e2Ws designed specifically for the Thai market. Environmental awareness and cost-effectiveness of the electric two-wheelers play a vital role in the market growth of the Thailand Electric Two Wheeler Market.
Thailand Electric Two-Wheeler Market Challenges
Limited charging infrastructure, lack of awareness among the individuals and high initial cost are the factors hindering the market growth.
Recent Developments by Key Players
Honda R&D (India) Private Limited (HRID)a which is a subsidiary of Honda Motor Co., Ltd. and functioning as Honda’s research and development arm for motorcycles & power products in India has inuagurated its new Solution R&D Center in Bengaluru, Karnataka. The Solution R&D Center shall incorporate advanced mobility technologies into electrified vehicle development more quickly. It shall also work on software and connected services through ‘co-creating’ open innovation by adopting technologies and ideas of research and development companies.
Thailand Electric Two-Wheeler Market Segmentation
VynZ Research provides an analysis of the key trends in each segment of the China Electric Two Wheeler Market report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on product, battery type, battery technology and voltage.
Insight by Product
- E-scooters
- E-bikes
- E-motorcycles
- Others
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
- Sealed Lead Acid
- Li-ion
- Ni-MH
Based on 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 electric two-wheelers in Thailand. Lower prices are the primary reason behind the highest share of sealed lead acid batteries in the Thailand electric two-wheelers market.
Insight by Battery Technology
- Removable Battery
- Non-removable Battery
Based on battery technology, the market is categorized into removable battery and non-removable battery. Of both categories, non-removable batteries are majorly used in the market as it is convenient for electric two-wheelers to plug in 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-wheelers hold 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-Wheeler Market: Geographic Overview
- China
- Japan
- India
- South Korea
- Vietnam
- Thailand
- Malaysia
- Rest of Asia-Pacific
Thailand Electric Two-Wheeler Market Competitive Insight
- STAR 8 (THAILAND) Co. Ltd.
- UDA Motor Co. Ltd.
- Honda Motor Company Ltd.
- E-Revolution Co Ltd.
- Ningbo MYWAY Intelligent Technology Co. Ltd.
Star8 Thailand is one of the Star8 Group companies which is a leader in electric vehicle innovation like electric tuk tuk, electric motorcycle and solar cell products like international solar roof panels, solar glass or solar lamps
E-Revolution Co Ltd imports, manufacturers and exports electrical goodies like bikes, water scooters and vehicles.
The Thailand Electric Two-Wheeler Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
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