Spain Electric Two-Wheeler Market to grow at a Significant Rate through 2026
Growing affordability and
consumer preference for clean energy automobiles is expected to drive the demand
for Spain electric two-wheeler market in forecast period.
According to TechSci Research report, “Spain
Electric Two-Wheeler Market By Vehicle Type (Electric Scooter/Moped and
Electric Motorcycle) By Battery Capacity (<25Ah and >25Ah) By Battery
Type (Lead and Li-ion) By Company, By Region, Forecast & Opportunities,
2026”, Spain electric two-wheeler market is expected to witness steady
growth in the next five years owing to improvements in battery technology which
facilitates the electric wheelers to cover long distances. Expansion of tourism
industry in Spain is increasing the demand for two-wheelers as it is highly
convenient to use and is more affordable than four-wheeler market. Growing
consumer awareness regarding economic and ecological benefits is driving the
electric two-wheelers market demand. Rising urbanization in search of better
employment opportunities and quality living standards is shifting preference of
consumers to opt for low carbon emission electric vehicles. Introduction of government
initiatives and awareness programs to lower the carbon emissions into the
environment is considered a major factor for the market growth. Electric
two-wheeler is widely used for delivery and e-commerce companies for providing
postal services which is increasing the market penetration in Spain. Increasing
initiatives by government and key players to install electric charging stations
at commercial places is boosting the electric two-wheelers market growth.
Rising consumer awareness about surging pollution levels and the air-borne
diseases is contributing significantly to market growth for the next five
years. Use of high-quality materials to improve the aesthetics and lower the weight
of electric two-wheeler vehicles is bolstering the market demand in Spain.
Companies dealing in electric vehicle are investing heavily to develop electric
two wheelers with maximum torque and high power to cater the growing need for
long range electric vehicles. Another advantage of using electric two wheeler
vehicles is that it can easily pass through the congested streets and often
consists of removable and rechargeable battery which provides the facility to
charge indoors. Increasing demand for environment favorable climate regulating
pollution and environmental conservation is paving the way for the market
growth. Vehicle manufacturers are continuously focus on improving the vehicle
efficiency while cutting down the manufacturing and operational cost.
Manufacturers are providing additional customizations that is further reducing
the operational costs.
Due to the ongoing pandemic COVID-19 complete lockdown
was observed all around the world. Disruption in supply chain was observed and
manufacturing units were shut down. Vehicle sales have taken a huge hit and
vehicle manufacturers must adjust the vehicle production. After the lockdown is
lifted, electric two-wheeler market is set to pick up the pace eventually.
However, loss of electric charging infrastructure and
high initial investments with performance constraints may hamper the electric
two-wheeler market growth for the forecast period.
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Spain
electric two-wheeler market is segmented into vehicle type, battery capacity,
battery type, region, and company. Based on vehicle type, market is further
divided into electric scooter/moped and electric motorcycle. Electric
motorcycle segment is expected to dominate the market throughout the forecast
period 2022-2026. Electric motorcycles can cover long distance than its
counterparts and serve different purposes including racing, cruising,
travelling, among others. Electric scooters have highly compatible design to
incorporate electric propulsion system but is able to cover only small
distances after getting charged which is considered a major performance
constraint.
Yadea
Group Holdings Ltd., AIMA Technology Co., Ltd., Jiangsu Xinri E-Vehicle Co.,
Ltd., Zhejiang Luyuan Electric Vehicle, Dongguan Tailing Electric Vehicle Co.,
Ltd., Shandong Incalcu, Electric Vehicle Co., Ltd., Hero Electric Vehicles Pvt
Ltd., Okinawa Autotech Pvt. Ltd., Gogoro, Inc., Zero Motorcycles, Inc. are the
leading players operating in Spain electric two-wheeler market. Manufacturers
are increasingly focusing on research and development process to fuel higher
growth in the market. To meet evolving customer demand with respect to better
efficiency and durability, several electric two-wheeler manufacturers are
coming up with their technologically advanced offerings.
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“Increasing
prices of petroleum and diesel is creating the opportunities electric vehicle
market growth. Depletion of the fossil fuels and electric vehicle’s ability for
lower carbon emissions is accelerating the electric vehicles demand in Spain. Electric
two-wheeler vehicle uses electricity as a fuel which is leading to lower the
operational and maintenance costs. Electric two-wheelers are more convenient
than the conventional ones. Manufacturers are investing heavily to develop the
electric two-wheeler market which is propeling the market growth until 2026” said
Mr. Karan Chechi, Research Director with TechSci Research, a global research-based
management consulting firm.
“Spain Electric
Two-Wheeler Market By Vehicle Type (Electric Scooter/Moped and Electric
Motorcycle) By Battery Capacity (<25Ah and >25Ah) By Battery Type (Lead
and Li-ion) By Company, By Region, Forecast & Opportunities, 2026” has
evaluated the future growth potential of Spain electric two-wheeler market and
provided statistics & information on market size, shares, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of Spain electric
two-wheeler market.
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