Philippines Electric Two-Wheelers Market Growing at a Significant Rate - Forecast Period 2018-2024

The Philippines electric two-wheeler market is rapidly growing due to the efforts of the non-government and government organizations. The Electric Vehicle Association of the Philippines (EVAP) plans for a national development program for electric vehicles that is anchored on the existing Motor Vehicle Development Program for the automotive industry.

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Based on product, the market is categorized into e-scooters, e-bikes, e-motorcycle sand others. E-scooters hold the largest share in the Philippines market, in terms of revenue as well as fleet size. E-motorcycles are anticipated to witness the fastest growth during the forecast period.

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 Philippines electric two-wheeler market, followed by 36V two-wheelers. Most of the e scooters run with a battery of 48V which provides its optimum power to perform better in the congested metropolitan cities of the country.

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Xiaomi Inc., Gxsun corp., Terra Motors Corporation, Tinker Motors Inc., and Dongguan Tailing Electric Vehicle Co. Ltd. are some of the key players operating in the Philippines electric two-wheelers market.

Source: VynZ Research

Asian Electric Two-Wheeler Market Size, Share, Industry Insights, Growth and Demand Forecast to 2024

The Asian electric two-wheeler market is primarily driven by government support and initiatives for electric vehicles, increasing awareness for curbing vehicular emissions.

The major reason for the affordable prices of electric scooters and bikes is the advancement in battery technology. The decline in electric vehicle battery cost has an overall impact on the cost of an electric vehicle. OEMs are investing capital in research and development to further increase the efficiency of the electric battery along with reducing their cost. Most of the light electric vehicles run on lithium-ion batteries, for which manufacturers are researching to increase its charging capacity.

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On the basis of battery technology, the market is categorized into the removable battery and non-removable battery. Of both the categories, 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. 

Market players in the Asian electric two-wheeler industry are launching new products and investing huge capital for capacity expansion in order to cater to rising demand. Ather Energy launched its flagship product Ather 450 electric scooters in Bengaluru. The Ather 450 has a top speed of 80km/hr and comes with 3.3kW BLDC motor.

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Hero Electric Vehicles Pvt. Ltd., Yadea Technology Group, Jiangsu Kingbon Vehicle Co., Ltd, AIMA Technology Group Co. Ltd, Zhejiang Luyuan Electric Vehicle Co., Ltd., Jiangsu Xinri E-Vehicle Co., Ltd. (SUNRA), Ather Energy, Spero Electric, Honda Motor Co. Ltd., Terra Motors Corporation, Unistar Co. Ltd., Segway Inc., UDA Motor Co. Ltd, Ningbo MYWAY Intelligent Technology Co. Ltd, Viar Motor Indonesia, Zero Motorcycles Inc., Xiaomi Inc., and Lohia Auto Industries are some of the key players operating in the Asian electric two-wheelers market.

Source: VynZ Research

India Electric Two-Wheeler Market Growth and Analysis 2018-2024, Ather Energy, Spero Electric, Lohia Auto Industries

Increasing government initiatives, increasing urbanization are the key factors fueling the growth of the electric-two wheelers market in India. In 2018, Indian government confirmed subsidies for all type of electric vehicles. Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles II (FAMEII) scheme has been finalized in April this year. As per the scheme, the government will invest INR 5,500 crores (~ USD 784 million) in the next five years. The governing panel decided that the subsidiary will be provided for all kinds of electric vehicles including light electric vehicles.

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E-motorcycles are anticipated to witness the fastest growth during the forecast period. E-motorbikes also called electric motorcycles are plug-in electric vehicles, that functions similar to a traditional motorcycle but make use of electricity in place of gasoline. The e-motorbikes have a slightly higher speed compared to e-bikes and e-scooters, which is generally more than 50km/hr.
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 Indian 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.

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Market players in the Indian electric two-wheeler industry are launching new products and investing huge capital for capacity expansion in order to cater to rising demand. Ather Energy launched its flagship product Ather 450 electric scooters in Bengaluru. The Ather 450 has a top speed of 80km/hr and comes with 3.3kW BLDC motor.

Hero Electric Vehicles Pvt. Ltd., Okinawa Autotech Pvt. Ltd., Ather Energy, Spero Electric, Lohia Auto Industries, and Yadea Technology Group are some of the key players operating in the Indian electric two-wheelers market.

Source: VynZ Research