China Electric Two-Wheelers Market to Witness 6.7% CAGR During 2018 – 2024, Attaining the Fleet Size of 52.9 million units by 2024

Nov, 2018

The Chinese electric two-wheeler market is predicted to grow at 6.7% CAGR during the forecast period with its fleet size reaching 52.9 million units by 2024. The market is driven by the significant demand for electric two-wheelers over the last few years with the increasing urbanization and increasing disposable income, and congestion in the urban areas of the country.

Some of the other factors leading to the growth of the market include the increasing demand for electric scooters in the country, favorable government regulations, the presence of a large number of local players and increasing investment on battery technology development. Manufacturers of the electric vehicles in China are investing huge capital for the development of high-performance batteries at lower cost. This is anticipated to lower the prices of electric two-wheelers in the coming years thus, fueling the growth of the Chinese electric-two-wheelers market.

Based on the product, the market is categorized into e-scooters, e-bikes, e-motorcycles, and others. E-scooters hold the largest share in the Chinese market, in terms of revenue as well as fleet size. The prices of e-scooters have fallen to a great extent for the same performance variables over the years and their low maintenance cost makes them preferred the mode of daily commute for consumers in China.

Of all battery type, sealed lead acid is the most common type of battery used in the electric two-wheelers in China. Comparatively lower price of sealed lead acid battery and their high-power output makes them preferable battery for electric two-wheelers segment. Of the two battery technologies adopted, 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.  

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 Chinese 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.

Development of new products and their launch is the key growth strategy adopted by the key players in the market. In July 2018, Yadea Inc., launched the first batch of the company’s Diamond edition moped models, E7, Zhanrui and Leite. The company jointly working with 16 vendors such as Panasonic, Bayer, Beckers and LG unleashed the moped models that meet the industry requirements. It was announced that the new models will be made available in 77 countries.

Jiangsu Kingbon Vehicle Co., Ltd, AIMA Technology Group Co. Ltd, Zhejiang Luyuan Electric Vehicle Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA) and Yadea Technology Group are some of the key players operating in the Chinese electric two-wheelers market.

China Light Electric Vehicle Market Coverage 

Product Insight and Forecast 2014-2024

  • Two-wheelers
    • E-scooters
    • E-bikes
    • E-motorcycles
    • Others

Battery Type Insight and Forecast 2014-2024

  • Sealed Lead Acid
  • Li-ion
  • Ni-MH

Technology Insight and Forecast 2014-2024

  • Plugin
  • Battery

Voltage Insight and Forecast 2014-2024

  • 24V
  • 36V
  • 48V
  • 60V
  • 72V
China Electric Two-Wheelers Market to Witness 6.7% CAGR During 2018 – 2024, Attaining the Fleet Size of 52.9 million units by 2024