Market Size of asia pacific electric two-wheeler Industry
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 102.5 Billion |
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Market Size (2030) | USD 173.4 Billion |
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Largest Share by Propulsion Type | ICE |
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CAGR (2024 - 2030) | 9.16 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Electric Two-Wheeler Market Analysis
The Asia Pacific Electric Two-Wheeler Market size is estimated at 102.5 billion USD in 2024, and is expected to reach 173.4 billion USD by 2030, growing at a CAGR of 9.16% during the forecast period (2024-2030).
102.5 Billion
Market Size in 2024 (USD)
173.4 Billion
Market Size in 2030 (USD)
13.59 %
CAGR (2017-2023)
9.16 %
CAGR (2024-2030)
Fastest-growing Segment by Country
21.12 %
Projected CAGR, India, 2024-2030
The country is the fastest-growing segment due to increasing government support for electric vehicles, expanding charging infrastructure, and rising consumer awareness about the benefits of EVs.
Largest Segment by Country
75.84 %
value share, China, 2023
China leads the electric two-wheeler market due to its large population, significant manufacturing capacity, and high consumer demand for affordable and efficient personal transportation.
Leading Market Player
16.41 %
market share, Yadea Group Holdings Ltd., 2023
Yadea leads the market with its extensive range of electric two-wheelers, advanced technology, and strong commitment to sustainability, making it a top choice for consumers in the Asia-Pacific region.
Second leading Market Player
13.29 %
market share, Dongguan Tailing Electric Vehicle Co. Ltd., 2023
Dongguan Tailing holds a significant market share due to its innovative electric two-wheeler models, strong manufacturing capabilities, and commitment to expanding its market presence in the APAC region.
Third Leading Market Player
12.42 %
market share, Zhejiang Luyuan Electric Vehicle, 2023
Zhejiang Luyuan is a key player due to its diverse portfolio of electric two-wheelers, advanced manufacturing processes, and focus on providing quality and performance in the Asia-Pacific market.
The two-wheeler market in Asia-Pacific is experiencing a significant shift toward electric mobility, fueled by environmental concerns, government support, and technological advancements
- Electric two-wheelers are gaining rapid traction across Asia-Pacific, driven by the region's escalating environmental awareness, supportive government policies in the form of subsidies and incentives, and the increasing affordability and performance of electric vehicles. China leads this charge, boasting the world's largest E2W market due to early government interventions aimed at pollution control and the establishment of a comprehensive EV ecosystem. India is emerging as another significant market, with ambitious targets for electric mobility adoption spurred by policy initiatives like FAME India and state-level incentives.
- The popularity of E2Ws in these countries is attributed to their environmental benefits and lower operational costs compared to ICE vehicles. However, ICE two-wheelers continue to dominate the market in several Asia-Pacific countries, especially where electric infrastructure is still developing or where government incentives for E2Ws are less pronounced. In countries like Vietnam, Indonesia, and the Philippines, the vast majority of two-wheelers run on gasoline, primarily due to their affordability, wide availability, and a well-established network for maintenance and fueling.
- The future of the two-wheeler market in Asia-Pacific is likely to be shaped by several factors, including technological advancements in battery and charging infrastructure, government policies aimed at reducing carbon emissions, and consumer attitudes toward mobility and environmental sustainability. While ICE two-wheelers are expected to remain relevant in the near term, especially in emerging economies, the shift toward electric mobility is undeniable and will continue to reshape the market dynamics in Asia-Pacific.
Asia Pacific Electric Two-Wheeler Industry Segmentation
Hybrid and Electric Vehicles are covered as segments by Propulsion Type. China, India, Japan, South Korea are covered as segments by Country.
| Propulsion Type | |
| Hybrid and Electric Vehicles |
| Country | |
| China | |
| India | |
| Japan | |
| South Korea |
Asia Pacific Electric Two-Wheeler Market Size Summary
The Asia Pacific Electric Two-Wheeler Market is experiencing significant growth, driven by increasing environmental awareness and supportive government policies. The region is witnessing a shift towards electric two-wheelers (E2Ws) due to the rising affordability and performance of electric vehicles. China is at the forefront, with a robust E2W market supported by early government interventions and a comprehensive electric vehicle ecosystem. India is also emerging as a key player, with ambitious electric mobility targets fueled by initiatives like FAME India. Despite the dominance of internal combustion engine (ICE) vehicles in some countries, the trend towards electric mobility is reshaping market dynamics, with technological advancements and government policies playing crucial roles in this transition.
The market is moderately consolidated, with major players like Dongguan Tailing Electric Vehicle Co. Ltd., Gogoro Limited, Yadea Group Holdings Ltd., Yamaha Motor Company Limited, and Zhejiang Luyuan Electric Vehicle leading the charge. These companies are actively innovating and expanding their product offerings to capture a larger market share. The demand for electric vehicles is further bolstered by government subsidies and initiatives aimed at reducing carbon emissions. As countries in the Asia-Pacific region invest in electric infrastructure and phase out fossil fuel vehicles, the market for electric two-wheelers is expected to continue its upward trajectory, with significant contributions from both consumer and commercial segments.
Asia Pacific Electric Two-Wheeler Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Propulsion Type
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1.1.1 Hybrid and Electric Vehicles
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1.2 Country
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1.2.1 China
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1.2.2 India
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1.2.3 Japan
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1.2.4 South Korea
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Asia Pacific Electric Two-Wheeler Market Size FAQs
How big is the Asia Pacific Electric Two-Wheeler Market?
The Asia Pacific Electric Two-Wheeler Market size is expected to reach USD 102.51 billion in 2024 and grow at a CAGR of 9.16% to reach USD 173.43 billion by 2030.
What is the current Asia Pacific Electric Two-Wheeler Market size?
In 2024, the Asia Pacific Electric Two-Wheeler Market size is expected to reach USD 102.51 billion.
