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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