Latest News- Electric Two-Wheeler Motor Market: Permanent magnet synchronous motor is expected to lead the Type segment during 2024-2028

The Electric Two-Wheeler Motor Market is being driven by High sales of electric two-wheelers

The Electric Two-Wheeler Motor Market is expected to grow at a CAGR of 8.9% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5251.9 million. The electric two-wheeler motor market is experiencing a notable trend of strategic collaborations and partnerships, which are instrumental in fostering market expansion and technological innovation. Companies are recognizing the importance of these alliances in expanding their product offerings, optimizing supply chains, and accelerating advancements in electric vehicle technology. A recent example of this trend is the partnership between Pavna Industries and OLA Electric, announced in April 2024. Pavna Industries, a prominent auto component manufacturer, entered the electric vehicle sector by securing a contract to supply critical components, including ignition switches, motors, and latches, to OLA Electric's production facilities across India. This collaboration will not only bolster Pavna Industries' presence in the EV market but also enable OLA Electric to streamline its production process and enhance the quality of its electric two-wheelers. 

Get more information on Electric Two-Wheeler Motor Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High sales of electric two-wheelers
• Growing adoption of electric bikes for delivery services
• Growing demand for higher efficiency and improved power density

However, the market also witnesses some limitations, which are as follows:

• High cost of motor manufacturing
• Preference for ICE vehicles
• Lack of workforce training in EV industry

Benefits of Buying Global Electric Two-Wheeler Motor Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Electric Two-Wheeler Motor Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Electric Two-Wheeler Motor Market is experiencing significant growth due to the increasing demand for eco-friendly transportation solutions. Key factors driving this trend include advancements in battery technology and motor efficiency, as well as the rising popularity of electric scooters, e-bikes, and electric motorcycles. Charging infrastructure and urban mobility, including shared mobility services, are also crucial elements. Li-Ion batteries, used in most electric two-wheelers, offer advantages such as high energy density and long life, but face challenges like heating issues and charging time. New energy vehicles (NEVs), including electric scooters, motorcycles, and cargo e-Bikes, are reducing emissions and offering last-mile connectivity, addressing issues of pollution, traffic congestion, and energy resource depletion. The Electric Vehicles Initiative (EVI) and tax relaxation policies are further boosting the market. However, concerns over battery heating issues, charging time, thermal runaway, and pollution still need to be addressed.

Market Research Overview

The global automotive components and equipment market encompasses organizations involved in the manufacturing of parts and accessories for various vehicle categories, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by these manufacturers. Factors fueling market expansion include the rising demand for electronic components in automobiles, such as electric control units (ECUs) and other electrical components, due to the escalating sales of electric motorcycles, scooters, and passenger cars over the past decade. Additionally, advancements in battery technology and motor efficiency, as well as the development of charging infrastructure, are significantly contributing to the growth of urban mobility solutions and the electric two-wheeler motor market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/