Asia Pacific Electric Two-Wheeler Market Size and Share

Asia Pacific Electric Two-Wheeler Market (2025 - 2030)
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Asia Pacific Electric Two-Wheeler Market Analysis by Mordor Intelligence

The Asia Pacific Electric Two-Wheeler Market size is estimated at USD 124.53 billion in 2025, and is expected to reach USD 184.33 billion by 2030, at a CAGR of 8.16% during the forecast period (2025-2030). Mounting urban congestion, accelerating battery cost deflation, and coordinated regional policy support keep the growth curve steep while reshaping competitive priorities across supply chains. China’s production economies, India’s late-cycle demand surge, and proliferating Southeast Asian incentives collectively anchor a broad geographic opportunity set that lifts both volume and value. Consumers are steadily migrating from low-speed scooters to higher-output motorcycles as infrastructure densifies and charging anxiety recedes, prompting OEMs to recalibrate their model mixes toward premiumized, connected, and fleet-ready offerings. Meanwhile, advances in sodium-ion chemistry, mid-drive motor efficiency, and battery-swapping ecosystems extend the addressable customer base beyond early adopters and into high-frequency commercial users, ensuring the Asia Pacific electric scooters and motorcycles market retains momentum beyond policy deadlines.

Key Report Takeaways

  • By vehicle type, electric scooters and mopeds led the Asia Pacific electric two-wheeler market, accounting for a 63.71% share in 2024. Electric motorcycles are projected to expand at an 8.18% CAGR through 2030.
  • By battery type, lithium-ion batteries captured 73.45% of the Asia Pacific electric two-wheeler market share in 2024, while sodium-ion cells are expected to register the highest forecast CAGR of 8.24% through 2030. 
  • By power output, sub-3.6 kW models accounted for 46.72% of the Asia Pacific electric two-wheeler market size in 2024, and high-performance (more than 10 kW) variants are expected to grow at an 8.23% CAGR through 2030. 
  • By drive type, hub motors accounted for 63.42% of the Asia Pacific electric two-wheeler market size in 2024; mid-drive architectures are projected to grow at an 8.19% CAGR through 2030. 
  • By end-use, personal ownership dominated with a 54.83% of the Asia Pacific electric two-wheeler market size in 2024; commercial and corporate fleets are expected to rise fastest at an 8.26% CAGR over the forecast period.
  • By country, China retained 38.91% of the Asia Pacific electric two-wheeler market size in 2024, whereas India is forecast to post the strongest growth rate of 8.22% through 2030. 

Segment Analysis

By Vehicle Type: Motorcycles Accelerate Despite Scooter Dominance

Electric scooters held a commanding 63.71% share of the Asia Pacific electric two-wheeler market in 2024. Yet, motorcycles are forecast to log an 8.18% CAGR through 2030, reflecting a distinct shift toward performance-oriented mobility. Domestic Chinese brands are expanding their export rosters with models that have a range of 150 km or more, aligning with European licensing categories and broadening the addressable revenue base. India’s Revolt and Ultraviolette escalate powertrain voltage and adopt connected telematics to lure premium enthusiasts who have historically been loyal to ICE sport bikes. Commercial delivery networks in Bangkok and Jakarta prefer motorcycles due to their higher payload thresholds, which increases contract demand and stabilizes residual values. 

As the battery pack's gravimetric density surpasses 200 Wh/kg, OEMs can fit larger modules without breaching curb-weight limits, thereby satisfying consumer range expectations under 90-minute recharge cycles. Regulatory frameworks in the Asia Pacific electric scooter and motorcycle market also influence the market by mandating helmet standards and insurance coverage that now mirror those of traditional motorcycles, thereby normalizing ownership costs.

Asia Pacific Electric Two-Wheeler Market: Market Share by Vehicle Type
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By Battery Type: Sodium-Ion Disrupts Lithium Hegemony

Lithium-ion batteries are expected to hold a 73.45% share of the Asia Pacific electric two-wheeler market in 2024. Still, sodium-ion cells are projected to achieve an 8.24% CAGR through 2030, driven by raw-material availability and 15–20% cost savings. CATL’s 2024 production rollout positions sodium packs as range-appropriate for sub-100 km commuter routes, making them viable for subscription-based leasing models that prioritize affordability. LFP chemistry holds a safety edge following 2024 thermal incidents, leading Indian assemblers to adopt it as the de facto standard for mid-priced scooters in the Asia Pacific electric scooter and motorcycle market.

Polymer lithium variants are increasingly used in high-end motorcycles, where form-factor flexibility justifies price premiums, especially when paired with active thermal management. Lead-acid persists in low-speed rural vehicles, capturing down-market customers who value simple charging over energy density, though its share progressively erodes as recycling mandates tighten. Early-stage solid-state prototypes remain confined to R&D fleets, but incremental breakthroughs in anode ceramics promise step-change safety that could recalibrate battery strategy post-2030. Collectively, chemistry diversification insulates OEMs from nickel and cobalt volatility, ensuring stable pack-price trajectories that underpin multi-segment expansion. 

By Power Output: High-Performance Segment Emerges

Sub-3.6 kW platforms accounted for a 46.72% share of the Asia Pacific electric two-wheeler market in 2024, primarily due to lenient licensing and attractive upfront pricing. Meanwhile, models exceeding 10 kW chart the fastest 8.23% CAGR through 2030, as consumers chase highway capability. Thailand’s motorcycle-taxi cooperatives specify 7.2-10 kW units to satisfy express-lane regulations and passenger payloads, creating scale economies for mid-tier suppliers. Fleet operators equate higher power with broader service radii, resulting in improved route planning efficiencies and enhanced asset utilization. 

As LFP cost curves flatten, OEMs allocate capacity to high-output drivetrains without proportionally inflating MSRP, thereby broadening adoption beyond affluent early adopters. Simultaneously, the Asia Pacific electric scooter and motorcycle market enjoys favorable insurance premiums, based on actuarial data that show lower accident rates for torque-moderated electric models compared to similar gasoline-powered bikes. Governments also reassess power-band tax slabs, with Vietnam considering reduced excise duties on electric motorcycles above 11 kW to accelerate premium segment penetration. Consequently, the performance hierarchy now mirrors passenger-car electrification, elevating kW ratings to a central marketing lever alongside charging-time metrics.

By Drive Type: Mid-Drive Innovation Challenges Hub Dominance

Hub motors led the market with a 63.42% share of the Asia Pacific electric two-wheeler market in 2024, supported by their compact architecture and low maintenance requirements. Mid-drive configurations, however, are projected to register an 8.19% CAGR through 2030, as OEMs leverage superior weight distribution and chain- or belt-based torque delivery. Improved regenerative-braking algorithms in mid-drive systems capture up to one-fifth additional range, a decisive advantage for delivery fleets managing dense stop-start cycles. Chinese exporters integrate mid-drive units in premium models designed for the European market, where hill-climb performance and dynamic handling are key purchase drivers.

Reduced unsprung mass enhances ride comfort—a factor increasingly highlighted in social media reviews that influence urban millennials exploring the Asia Pacific electric scooters and motorcycles market. Component suppliers scale gear-reduction assemblies, narrowing cost premiums over hub motors and accelerating substitution rates. Although hub motors remain entrenched in low-speed, licence-exempt vehicles due to cost sensitivity, the performance pivot signals a gradual re-balancing of drive-type economics across multiple price bands.

Asia Pacific Electric Two-Wheeler Market: Market Share by Drive Type
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By End-Use: Commercial Fleets Drive Growth Acceleration

Personal commuters still account for a 54.83% share of the Asia Pacific electric two-wheeler market in 2024. Yet, commercial and corporate adoption is poised to climb at an 8.26% CAGR through 2030, as total cost of ownership savings compound over multi-shift duty cycles. Food-delivery and e-commerce couriers achieve fuel and maintenance savings of over 30%, redirecting working capital into expanding their fleets. Scope 3 emissions reporting pushes listed companies in Japan and Singapore to electrify two-wheel logistics, unlocking green-finance channels that subsidize vehicle acquisition. 

Centralized depot charging addresses public infrastructure gaps, enhancing asset utilization and alleviating range anxiety. Battery-swap solutions reduce downtime to under five minutes, surpassing the speed of gasoline refueling and improving customer service levels. OEMs respond by launching fleet-specific trims with telematics dashboards, predictive maintenance alerts, and detachable cargo boxes, lifting average selling prices without eroding payback periods. The Asia Pacific electric scooter and motorcycle market consequently pivots from individual discretionary purchases to structured, contractual fleet procurements that stabilize demand during subsidy phase-outs.

Geography Analysis

China held a 38.91% share of the Asia Pacific electric two-wheeler market in 2024, thanks to scale efficiencies that compress ex-factory prices by one-fourth compared to import-reliant peers. Provincial subsidies align with central tax credits, enabling multi-layer incentives that sustain domestic replacement cycles even as first-time penetration plateaus. Export momentum intensifies after tighter European Union anti-dumping benchmarks elevate demand for certified, mid-drive Chinese models that meet UNECE regulations. 

India is forecast to post an 8.22% CAGR to 2030, driven by FAME II disbursements, a substantial amount, and state-level incentives that reduce on-road prices further. Urban congestion, high gasoline taxes, and aggressive marketing from Ola Electric and Hero spur adoption across Tier-2 cities, widening the Asia Pacific electric scooters and motorcycles market’s demographic footprint. Domestic battery cell lines reduce landed-cost volatility, enabling assemblers to pass on savings to value-conscious buyers. 

Southeast Asia contributes a growing share, propelled by Indonesia’s target to have one-fifth of its electric motorcycles by 2025 and Thailand’s comprehensive EV roadmap, which waives excise duties through 2026 [2]“20 Percent Electric Motorcycle Target Roadmap,” Indonesia Ministry of Industry, kemenperin.go.id. Vietnam’s imminent ban on bikes with engines exceeding 175 cc within urban districts redirects demand toward high-output electrics, while Malaysia leverages green-energy tariffs to lower overnight charging costs. Japan and Australia remain premium niches, emphasizing build quality, digital safety aids, and established dealer networks. Collectively, geographic diversification attenuates single-country risk and positions the Asia Pacific electric scooters and motorcycles market for durable, region-wide expansion.

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

  1. Gogoro Limited

  2. Yadea Group Holdings Ltd.

  3. Yamaha Motor Company Limited

  4. TAILG Technology Group

  5. Zhejiang Luyuan Electric Vehicle Co.,Ltd

  6. *Disclaimer: Major Players sorted in no particular order
Asia Pacific Electric Two-Wheeler Market Concentration
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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.

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Asia Pacific Electric Two-Wheeler Market
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Asia Pacific Electric Two-Wheeler Market
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Asia Pacific Electric Two-Wheeler Market
Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.
Asia Pacific Electric Two-Wheeler Market
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Table of Contents for Asia Pacific Electric Two-Wheeler Industry Report

1. Introduction

  • 1.1 Study Assumptions & Market Definition
  • 1.2 Scope of the Study

2. Research Methodology

3. Executive Summary

4. Market Landscape

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Government Subsidies and Tightening Emission Norms
    • 4.2.2 Rapid Urbanisation and Traffic Congestion
    • 4.2.3 Declining Li-Ion Battery Prices and Local Cell Production
    • 4.2.4 Rise Of Low-Speed, Licence-Exempt E-Two-Wheelers
    • 4.2.5 Growing Battery-Swapping Ecosystem
    • 4.2.6 Corporate Fleet Sustainability Mandates
  • 4.3 Market Restraints
    • 4.3.1 Sparse Public Charging Beyond Tier-1 Cities
    • 4.3.2 Geopolitical Risk On Mid-Drive Motor Supply Chain
    • 4.3.3 Safety and Fire Incidents Prompting Stricter Homologation
    • 4.3.4 Uncertain End-Of-Life Battery Value Chain
  • 4.4 Value / Supply-Chain Analysis
  • 4.5 Regulatory Landscape
  • 4.6 Technological Outlook
  • 4.7 Porter's Five Forces
    • 4.7.1 Threat of New Entrants
    • 4.7.2 Bargaining Power of Buyers
    • 4.7.3 Bargaining Power of Suppliers
    • 4.7.4 Threat of Substitutes
    • 4.7.5 Industry Rivalry

5. Market Size & Growth Forecasts (Value (USD) and Volume (Units))

  • 5.1 By Vehicle Type
    • 5.1.1 Electric Scooter / Moped
    • 5.1.2 Electric Motorcycle
  • 5.2 By Battery Type
    • 5.2.1 Lead-acid
    • 5.2.2 Lithium-ion
    • 5.2.3 Lithium-ion Polymer
    • 5.2.4 Sodium-ion
    • 5.2.5 Others
  • 5.3 By Power Output
    • 5.3.1 Less than 3.6 kW
    • 5.3.2 3.6 to 7.2 kW
    • 5.3.3 7.2 to 10 kW
    • 5.3.4 More than 10 kW
  • 5.4 By Drive Type
    • 5.4.1 Hub Motor
    • 5.4.2 Belt Drive
    • 5.4.3 Chain Drive
    • 5.4.4 Mid-drive Motor
  • 5.5 By End-use
    • 5.5.1 Personal / Individual
    • 5.5.2 Commercial & Corporate Fleets
    • 5.5.3 Micromobility Service Providers
    • 5.5.4 Delivery & Logistics
  • 5.6 By Country
    • 5.6.1 China
    • 5.6.2 India
    • 5.6.3 Japan
    • 5.6.4 South Korea
    • 5.6.5 Australia
    • 5.6.6 Indonesia
    • 5.6.7 Thailand
    • 5.6.8 Vietnam
    • 5.6.9 Rest of Asia Pacific

6. Competitive Landscape

  • 6.1 Market Concentration
  • 6.2 Strategic Moves
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles (Includes Global Level Overview, Market Level Overview, Core Segments, Financials as Available, Strategic Information, Market Rank/Share for Key Companies, Products and Services, SWOT Analysis, and Recent Developments)
    • 6.4.1 Yadea Group Holdings Ltd.
    • 6.4.2 NIU Technologies Inc.
    • 6.4.3 Hero Electric Vehicles Private Limited
    • 6.4.4 Okinawa Autotech Internationall Private Limited
    • 6.4.5 Ather Energy Limited
    • 6.4.6 Bajaj Auto Ltd.
    • 6.4.7 TVS Motor Company
    • 6.4.8 Ola Electric Mobility Limited
    • 6.4.9 Gogoro Limited
    • 6.4.10 Vmoto Limited
    • 6.4.11 Jiangsu Xinri E-Vehicle Co.,Ltd
    • 6.4.12 TAILG Technology Group
    • 6.4.13 Zhejiang Luyuan Electric Vehicle Co.,Ltd
    • 6.4.14 Horwin Inc.
    • 6.4.15 Revolt Intellicorp Private Limited
    • 6.4.16 PuR Energy Limited (Pure EV)
    • 6.4.17 Lifan Technology (Group) Co., Ltd.
    • 6.4.18 Yamaha Motor Co., Ltd.

7. Market Opportunities & Future Outlook

  • 7.1 White-space & Unmet-need Assessment
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List of Tables & Figures

  1. Figure 1:  
  2. POPULATION TRENDS, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2030
  1. Figure 2:  
  2. GDP PER CAPITA AT CURRENT PRICES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
  1. Figure 3:  
  2. AVERAGE CONSUMER SPENDING PER CAPITA ON PURCHASE OF VEHICLES, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
  1. Figure 4:  
  2. INFLATION RATE AT AVERAGE CONSUMER PRICES, PERCENTAGE CHANGE, ASIA-PACIFIC, 2017 - 2030
  1. Figure 5:  
  2. AUTO LOAN INTEREST RATES, PERCENTAGE, ASIA-PACIFIC, 2017 - 2022
  1. Figure 6:  
  2. ELECTRIC VEHICLE MARKET PENETRATION RATE, BY VEHICLE TYPE, PERCENTAGE OF VOLUME, ASIA-PACIFIC, 2017 - 2030
  1. Figure 7:  
  2. CHARGING STATION DEPLOYMENT, BY TYPE, VOLUME IN UNITS, ASIA-PACIFIC, 2017 - 2022
  1. Figure 8:  
  2. AVERAGE LITHIUM-ION BATTERY PACK PRICE, VALUE IN USD, ASIA-PACIFIC, 2017 - 2030
  1. Figure 9:  
  2. ANNOUNCEMENT OF NEW XEV MODELS, BY VEHICLE TYPE, VOLUME IN UNITS, ASIA-PACIFIC, 2023 - 2027
  1. Figure 10:  
  2. FUEL PRICE, BY FUEL TYPE, USD/LITER, ASIA-PACIFIC, 2017 - 2022
  1. Figure 11:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, VOLUME IN UNITS, 2017 - 2030
  1. Figure 12:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, VALUE IN USD, 2017 - 2030
  1. Figure 13:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY HYBRID AND ELECTRIC VEHICLES, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 14:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY HYBRID AND ELECTRIC VEHICLES, BY VALUE IN USD, 2017 - 2030
  1. Figure 15:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET MARKET, SHARE(%), BY PROPULSION TYPE, 2017 - 2030
  1. Figure 16:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 17:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY COUNTRY, BY VALUE IN USD, 2017 - 2030
  1. Figure 18:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 19:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET MARKET, SHARE(%), BY COUNTRY, 2017 - 2030
  1. Figure 20:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY CHINA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 21:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY CHINA, BY VALUE IN USD, 2017 - 2030
  1. Figure 22:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY INDIA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 23:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY INDIA, BY VALUE IN USD, 2017 - 2030
  1. Figure 24:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY JAPAN, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 25:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY JAPAN, BY VALUE IN USD, 2017 - 2030
  1. Figure 26:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2017 - 2030
  1. Figure 27:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2017 - 2030
  1. Figure 28:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
  1. Figure 29:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
  1. Figure 30:  
  2. ASIA PACIFIC ELECTRIC TWO-WHEELER MARKET SHARE(%), BY MAJOR PLAYERS

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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