Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 15.29 Billion |
| Market Size (2030) | USD 25.27 Billion |
| Growth Rate (2025 - 2030) | 10.60% CAGR |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Asia Pacific Electric Two-Wheeler Market Analysis by Mordor Intelligence
The Asia Pacific electric scooter market size is estimated at USD 15.29 billion in 2025, and is expected to reach USD 25.27 billion by 2030, at a CAGR of 10.6% during the forecast period (2025-2030). The Asia-Pacific electric scooter market is transitioning from early adoption to scale-up across both consumer commuting and commercial last-mile logistics. Government programs like India’s FAME II, subsidies in Thailand and Indonesia, and tax waivers on EV components have compressed payback times and reduced upfront sticker shock, making electric scooters financially viable for daily riders and high-utilization fleet operators alike[2]“20 Percent Electric Motorcycle Target Roadmap,” Indonesia Ministry of Industry, kemenperin.go.id.
At the same time, China’s cell and scooter manufacturing base drives cost leadership for the region, exporting completed vehicles and CKD kits across Asia-Pacific. Local champions in India, Taiwan, and Southeast Asia leverage this supply base while differentiating through software, connectivity, and service networks. Policy “sticks” such as urban ICE restrictions, low-emission zones, and parking/road access differentiation are gradually complementing subsidy “carrots,” signalling that electric scooters will maintain structural cost and regulatory advantages even as incentives taper.
Technology-wise, LFP-based lithium-ion batteries, hub motors, and low-to-mid power outputs (<7.2 kW) remain the workhorse configuration for commuter scooters. However, mid-drive setups, sodium-ion cells, and higher-output scooters are beginning to carve out premium and fleet niches, especially where gradients, payloads, and daily mileage are high.
Key Report Takeaways
- By battery type, lithium-ion led with 73.45% share of the market in 2024; sodium-ion is forecast to grow at an 28.24% CAGR through 2030.
- By power output, models below 3.6 kW held 46.72% share of the market in 2024; models above 10 kW are advancing at an 18.34% CAGR through 2030.
- By motor/drive type, hub motors captured 63.42% share of the market in 2024; mid-drive systems are expected to expand at an 11.19% CAGR through 2030.
- By end-use, personal/individual ownership accounted for a 54.83% share of the market in 2024; commercial and corporate fleets are projected to post an 14.26% CAGR through 2030.
- By geography, China dominated the market with a 38.91% share in 2024; India is forecast to climb at an 11.22% CAGR through 2030.
Asia Pacific Electric Two-Wheeler Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Government Subsidies | +2.1% | Global, with peak impact in India, Thailand, Indonesia | Short term (≤ 2 years) |
| Rapid Urbanisation | +1.8% | Asia Pacific core, strongest in India, Indonesia, Vietnam | Medium term (2-4 years) |
| Declining Li-Ion Battery Prices | +1.5% | China-led, spillover to India, Southeast Asia | Long term (≥ 4 years) |
| Rise Of Low-Speed, Licence-Exempt E-Two-Wheelers | +1.2% | India, Southeast Asia rural markets | Short term (≤ 2 years) |
| Growing Battery-Swapping Ecosystem | +0.9% | Taiwan, China, India urban centers | Medium term (2-4 years) |
| Corporate Fleet Sustainability Mandates | +0.7% | Urban Asia Pacific, led by Japan, Australia, Singapore | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
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Government Subsidies & Tightening Emission Norms
Fiscal support remains pivotal, with India’s FAME II rebates per vehicle and Thailand’s subsidy pool, which front-loads consumer payback periods [1]“FAME II Scheme 2024 Disbursement Data,” Ministry of Heavy Industries, mhi.gov.in . Indonesia aims for a one-fifth electric motorcycle penetration by 2030, buttressed by duty waivers on knocked-down kits and battery imports. Vietnam’s plan to prohibit internal-combustion motorcycles exceeding 175 cc within urban cores by 2030 aligns with the Euro 5 rollout, reinforcing a migration path toward electric models. The Asia Pacific electric scooters and motorcycles market anticipates a tapering of subsidies beyond 2026; however, cumulative cost savings and residual policy sticks, such as congestion fees and zonal bans, are expected to sustain demand without distorting price signals.
Rapid Urbanisation & Traffic Congestion
Rising urban density in Jakarta, Manila, and Mumbai reduces average peak-hour travel speeds to under 15 km/h, placing efficiency premiums on two-wheelers that can navigate narrow lanes and utilize flexible parking. Instant torque and regenerative braking make electric drive trains well-suited to stop-and-go patterns, nudging commuters toward the Asia Pacific electric scooters and motorcycles market for daily mobility. Indonesia’s motorcycle saturation, at 85 units per 100 people, indicates latent readiness for electrification as fuel costs erode household budgets. Bangkok’s and Ho Chi Minh City’s dedicated two-wheeler lanes further tilt modal preferences, while municipal congestion-charging pilots amplify the operating-cost advantage of zero-emission vehicles. Cumulatively, these traffic dynamics translate into a structural uptick in demand that outlives incentive cycles.
Declining Li-Ion Battery Prices & Local Cell Production
LFP cell spot prices fell below USD 80/kWh in 2024, breaching the cost-parity threshold for two-wheeler total cost of ownership versus gasoline peers. CATL and BYD invested in gigafactories across Thailand and Indonesia, trimming logistics overheads and monetizing tariff exemptions that reduce landed pack prices by one-fifth. India’s Production Linked Incentive program channeled a considerable amount into cell lines run by Ola Electric and Bajaj, shielding OEMs from currency fluctuations and import duties. Lower cell costs catalyze twin margin and affordability gains, enabling expanded model portfolios that diversify beyond entry-level scooters into performance motorcycles and fleet-optimized cargo variants.
Rise of Low-Speed, Licence-Exempt E-Two-Wheelers
In sub-50 km/h, licence-exempt categories, rural India and peri-urban Southeast Asia are gaining ground, where regulatory leniency and simple maintenance appeal to first-time buyers. OEMs utilize low-voltage architectures and sealed lead-acid batteries to achieve price points that are nearly one-fourth lower than those of entry-level gasoline scooters. Educational campaigns on safety and financing schemes orchestrated by micro-lenders further unlock demand, positioning these models as feeder channels into higher-performance segments once charging infrastructure matures.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Sparse Public Charging Beyond Tier-1 Cities | -1.3% | India, Indonesia, Philippines rural markets | Medium term (2-4 years) |
| Geopolitical Risk On Mid-Drive Motor Supply Chain | -1.0% | Global, concentrated impact on Japan, South Korea, Australia | Long term (≥ 4 years) |
| Safety & Fire Incidents Prompting Stricter Homologation | -0.8% | India-led, spillover to Southeast Asia | Short term (≤ 2 years) |
| Uncertain End-Of-Life Battery Value Chain | -0.6% | China, India manufacturing hubs, regulatory spillover to Asia Pacific | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Sparse Public Charging Beyond Tier-1 Cities
In India, outside of major metropolitan areas, the availability of public chargers is significantly limited. In stark contrast, cities like Mumbai and Delhi have a much higher density of chargers. This disparity fosters range anxiety and hampers adoption in rural regions. Meanwhile, Indonesia's infrastructure is predominantly centered around Java, leaving its outer islands underserved and limiting inter-city applications. With low utilization rates, investor returns suffer, especially when capital expenditures vie with the prevalence of fuel stations. Original Equipment Manufacturers (OEMs) are bridging this gap by offering portable chargers and battery-swap features. Yet, the speed of infrastructure expansion is the key determinant for propelling the electric scooter and motorcycle market in the Asia Pacific beyond its urban confines.
Safety & Fire Incidents Prompting Stricter Homologation
In 2024, India witnessed numerous incidents of electric two-wheeler fires. This surge led to the introduction of mandatory BIS certification and rigorous testing for thermal runaway. In Thailand, regulators, responding to high-rise fires associated with subpar chargers, significantly extended approval timelines. This move has escalated compliance costs for smaller assemblers. Although these heightened standards ultimately bolster consumer trust, they also present challenges. OEMs face immediate product delays and increased re-engineering costs, which impact their cash flows and inventory cycles, and consequently moderate short-term shipment growth.
Segment Analysis
By Battery Type: Lithium-Ion Sets the Baseline, Sodium-Ion Scales Up
Lithium-ion batteries led the Asia-Pacific electric scooter market with a 79.33% share in 2024, anchoring everything from entry-level city commuters to premium connected scooters. This dominance reflects the chemistry’s balance of energy density, cycle life, and cost for daily 40–80 km urban duty cycles. LFP-based packs have become the default choice for mass-market scooters in India, China, and Southeast Asia after stricter safety norms, while NMC and high-nickel variants remain concentrated in higher-performance models where longer range and faster acceleration justify higher pack costs. OEMs are increasingly standardizing module and pack formats around lithium-ion, enabling platform reuse across multiple scooter models and streamlining sourcing contracts with regional cell suppliers.
Sodium-ion is the clear disruptor, projected to grow at a 14.25% CAGR through 2030 from a small base as Chinese and Indian manufacturers commercialize the chemistry in commuter scooters. Its cost advantage and acceptable energy density for sub-100 km daily routes make sodium-ion well-suited to subscription fleets, shared-scooter schemes, and price-sensitive first-time buyers. Over the forecast period, chemistry strategies in the Asia-Pacific electric scooter market are likely to bifurcate: lithium-ion (especially LFP) stays the backbone for mainstream and premium scooters, while sodium-ion becomes the workhorse for high-volume, low- to mid-range applications where upfront affordability and robust performance in hot climates matter more than absolute range.
Note: Segment shares of all individual segments available upon report purchase
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By Power Output: Mid-Power Scooters Dominate, High-Output Niches Expand
Scooters in the 3.6–7.2 kW band held a 39.45% share of the Asia-Pacific electric scooter market in 2024, underscoring the sweet spot between price, performance, and licensing flexibility. These models comfortably handle urban and inner-ring-road speeds, support pillion riding, and offer enough torque for typical gradients in cities like Jakarta, Mumbai, and Bangkok. For most commuters and many fleet operators, this band delivers “just enough” power without pushing vehicles into higher insurance or regulatory brackets. OEMs concentrate their feature-rich, connected scooters in this range, bundling smartphone integration, navigation, and fast-charging options to differentiate without breaking affordability thresholds.
At the top of the spectrum, scooters above 10 kW are advancing at an 11.66% CAGR through 2030, carving out premium and performance-oriented niches. These models target riders who need highway-capable acceleration, longer peri-urban routes, or simply prefer motorcycle-like dynamics in a step-through body. Markets such as Japan, South Korea, Australia, and affluent urban pockets in China and India are the primary adopters, where consumers are willing to pay for larger battery packs, higher-voltage architectures, and advanced safety features like traction control and ABS tuned for electric torque delivery. As battery and motor costs continue to fall, high-output scooters are expected to spill over from enthusiast and lifestyle segments into more mainstream commuting and corporate use cases.
By Motor/Drive Type: Hub Motors Lead, Mid-Drive Systems Gain Traction
Hub motors captured 62.55% share of the electric scooters market in 2024, reaffirming their status as the default propulsion choice for Asia-Pacific’s urban scooter platforms. Their integrated, wheel-mounted design simplifies manufacturing, reduces mechanical complexity, and minimizes routine maintenance—key advantages for both individual riders and shared fleets that prioritize uptime over fine-tuned ride dynamics. Hub motors pair well with low- to mid-power scooters in dense traffic, where top-end speed is less critical than instant, predictable torque and smooth low-speed control in congested streets and narrow alleys.
Mid-drive systems, however, are expected to expand at a robust 12.05% CAGR through 2030, as OEMs push into higher-torque, cargo, and performance scooter segments. Locating the motor in the frame and transmitting power through chain or belt drives improves weight distribution and allows gearing to be optimized for hill climbs, heavy payloads, or sustained higher speeds. This architecture is increasingly preferred for premium scooters, delivery-focused cargo models, and export-oriented platforms targeting hilly markets. As mid-drive suppliers scale production and narrow cost gaps versus hub setups, more mid- and high-end scooter trims are likely to adopt mid-drive powertrains, gradually rebalancing the drive-type mix without displacing hub motors in ultra-cost-sensitive entry-level scooters.
By End-Use: Personal Mobility Dominates, Delivery Fleets Scale Fast
Hub motors captured 62.55% share of the electric scooters market in 2024, reaffirming their status as the default propulsion choice for Asia-Pacific’s urban scooter platforms. Their integrated, wheel-mounted design simplifies manufacturing, reduces mechanical complexity, and minimizes routine maintenance—key advantages for both individual riders and shared fleets that prioritize uptime over fine-tuned ride dynamics. Hub motors pair well with low- to mid-power scooters in dense traffic, where top-end speed is less critical than instant, predictable torque and smooth low-speed control in congested streets and narrow alleys.
Mid-drive systems, however, are expected to expand at a robust 12.05% CAGR through 2030, as OEMs push into higher-torque, cargo, and performance scooter segments. Locating the motor in the frame and transmitting power through chain or belt drives improves weight distribution and allows gearing to be optimized for hill climbs, heavy payloads, or sustained higher speeds. This architecture is increasingly preferred for premium scooters, delivery-focused cargo models, and export-oriented platforms targeting hilly markets. As mid-drive suppliers scale production and narrow cost gaps versus hub setups, more mid- and high-end scooter trims are likely to adopt mid-drive powertrains, gradually rebalancing the drive-type mix without displacing hub motors in ultra-cost-sensitive entry-level scooters.
Note: Segment shares of all individual segments available upon report purchase
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By End-Use: Personal Mobility Dominates, Delivery Fleets Scale Fast
Personal mobility accounted for 66.74% of the electric scooters market in 2024, reflecting the continued primacy of individually owned scooters as the everyday workhorse across Asia-Pacific cities. For office commuters, students, and multi-purpose household users, electric scooters offer a direct substitute for 100–125 cc ICE models, with comparable performance and lower running costs. Attractive financing schemes, growing brand familiarity, and expanding dealer/service networks in China, India, and Southeast Asia further entrench personal scooters as the backbone of demand, especially in Tier-2 and Tier-3 cities where public transit coverage is thin.
Delivery and logistics fleets are projected to post a much faster 12.71% CAGR through 2030, emerging as the structural growth engine for the segment. Food delivery, quick-commerce, grocery, and parcel players increasingly standardize on electric scooters to cut fuel and maintenance costs, comply with corporate sustainability targets, and secure preferential access to low-emission zones. Fleet-specific trims with telematics, swappable batteries, and reinforced racks are becoming common, pushing up average transaction values while still delivering attractive payback periods for operators. Over the forecast horizon, this fleet-led growth is set to smooth demand cycles and reduce the market’s reliance on discretionary consumer purchases.
Geography Analysis
Asia-Pacific dominated the global electric scooter market with a 75.14% share in 2024, underpinned by very high two-wheeler penetration, dense urbanization, and strong policy support in China, India, and Southeast Asia. Chinese OEMs combine scale manufacturing with export reach, while Indian and ASEAN brands tailor scooters to local road conditions, financing patterns, and regulatory frameworks. The region’s mix of megacities, rising fuel costs, and supportive EV roadmaps ensures that electric scooters remain the primary electrification pathway for short-distance mobility. As local cell production and component localization deepen, Asia-Pacific is expected to maintain its position as both the largest demand center and the principal manufacturing hub for electric scooters worldwide.
The Middle East and Africa (MEA) are projected to climb at an 11.36% CAGR through 2030, albeit from a smaller base, as governments and city authorities begin targeting two-wheelers in their broader decarbonization and air-quality strategies. In Gulf cities, electric scooters increasingly complement micro-mobility and last-mile delivery ecosystems, while in parts of North and East Africa, they offer an efficient alternative to ageing ICE fleets in crowded urban cores. Import flows from Asia-Pacific, combined with pilot incentive schemes and private financing for delivery fleets, lay the foundation for faster adoption later in the decade. Together, the entrenched Asia-Pacific core and the accelerating MEA frontier create a geographically diversified growth profile for the global electric scooter market.
Competitive Landscape
The competitive arena is moderately fragmented but steadily consolidating as scale economics reward multi-plant capacity and vertically integrated battery lines. Yadea, NIU, and Ola Electric collectively shipped multiple vehicles in 2024, securing advantageous cobalt and lithium contracts that hedge raw-material volatility. Smaller assemblers pivot toward micro-mobility fleets, battery-as-a-service models, or performance sub-niches to avoid direct price wars.
Strategic differentiators are increasingly centered on software, including connected dashboards, over-the-air firmware updates, and fleet-management portals that monetize post-sale data streams. NIU’s cloud diagnostic suite reduces warranty claim processing time by two-fifths, resulting in higher customer satisfaction [3]“Investor Presentation Q4-2024,” NIU Technologies, niu.com . Gogoro leverages its battery-swap infrastructure as a network moat, locking in recurring revenue and deterring new entrants that must invest heavily to achieve comparable density.
Cross-border collaborations accelerate, exemplified by CATL’s cell-supply agreements with Thailand’s GPX and India’s Hero MotoCorp, which jointly secure upstream inputs while sharing research on sodium-ion adoption. Regional logistics players partner with OEMs for co-branded fleet roll-outs, bundling financing and maintenance into kilometre-based subscriptions. Despite consolidation, white-space opportunities persist in rural distribution, specialized cargo platforms, and high-torque dual-sport motorcycles, ensuring that the Asia Pacific electric scooter and motorcycle market remains dynamic and innovation-driven.
Asia Pacific Electric Two-Wheeler Industry Leaders
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Gogoro Limited
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Yadea Group Holdings Ltd.
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Yamaha Motor Company Limited
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TAILG Technology Group
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Zhejiang Luyuan Electric Vehicle Co.,Ltd
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
- October 2025: AIMA Group debuted its international brand, POWELLDD, and opened more than 20 stores in Vietnam to capture the surging demand for premium electric two-wheelers.
- February 2025: PlugNride Motors launched the APKE PNR 100 and APKE PNR 200 in India, each offering a 120 km range and a top speed of 70 km/h to address inter-city commuting needs.
- September 2024: DAEWOO India partnered with eBikeGo to co-develop an urban e-bike portfolio tailored to meet last-mile delivery requirements.
Asia Pacific Electric Two-Wheeler Market Report Scope
Hybrid and Electric Vehicles are covered as segments by Propulsion Type. China, India, Japan, South Korea are covered as segments by Country.
By Vehicle Type
| Electric Scooter / Moped |
| Electric Motorcycle |
By Battery Type
| Lead-acid |
| Lithium-ion |
| Lithium-ion Polymer |
| Sodium-ion |
| Others |
By Power Output
| Less than 3.6 kW |
| 3.6 to 7.2 kW |
| 7.2 to 10 kW |
| More than 10 kW |
By Drive Type
| Hub Motor |
| Belt Drive |
| Chain Drive |
| Mid-drive Motor |
By End-use
| Personal / Individual |
| Commercial & Corporate Fleets |
| Micromobility Service Providers |
| Delivery & Logistics |
By Country
| China |
| India |
| Japan |
| South Korea |
| Australia |
| Indonesia |
| Thailand |
| Vietnam |
| Rest of Asia Pacific |
| By Vehicle Type | Electric Scooter / Moped |
| Electric Motorcycle | |
| By Battery Type | Lead-acid |
| Lithium-ion | |
| Lithium-ion Polymer | |
| Sodium-ion | |
| Others | |
| By Power Output | Less than 3.6 kW |
| 3.6 to 7.2 kW | |
| 7.2 to 10 kW | |
| More than 10 kW | |
| By Drive Type | Hub Motor |
| Belt Drive | |
| Chain Drive | |
| Mid-drive Motor | |
| By End-use | Personal / Individual |
| Commercial & Corporate Fleets | |
| Micromobility Service Providers | |
| Delivery & Logistics | |
| By Country | China |
| India | |
| Japan | |
| South Korea | |
| Australia | |
| Indonesia | |
| Thailand | |
| Vietnam | |
| Rest of Asia Pacific |
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Market Definition
- Vehicle Type - The category covers motorized two-wheelers.
- Vehicle Body Type - This includes Scooters and Motorcycles, while Kick-scooters and Bicycles are excluded.
- Fuel Category - The category exclusively covers electric propulsion systems, while Internal Combustion Engines (ICE) are excluded.
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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