Saudi Arabia Electric Two-Wheeler Market to Reach $2.11 Million by 2027 at a CAGR of 78.24% - ResearchAndMarkets.com

The "Saudi Arabia Electric Two-Wheeler Market, By Vehicle Type (Electric Scooter & Moped and Electric Motorcycle), By Battery Capacity (<25Ah and >25Ah), By Battery Type (Lead Acid and Li-ion), By Range, By Region, Competition Forecast & Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia electric two-wheeler market was valued at USD 117.72 thousand in 2022E and is forecast to grow at a CAGR of 78.24% through 2027 to reach USD 2,117.94 thousand by 2027. Saudi Arabia electric two-wheeler market is driven by various factors such as rising fuel price, government initiative towards renewable energy, etc.

Rising Fuel Prices

Nowadays the price of fuels is getting higher day by day due to various reasons, which is impacting the automotive industry. In Saudi Arabia, the automotive industry is focusing on electric vehicles, and also many companies have started to offer different models of electric two-wheelers such as Barq EV, ONE MOTO Technologies Ltd, BMW, etc. One of the main reasons behind the rise of fuel prices is Russia Ukraine war which started in early February 2022. Since the war started the price of crude oil have increased by more than 70%. The crude oil prices increased day by day and one of the reasons behind this, was the surge in pump prices as well as the labor cost. By rising fuel prices with time more people will turn towards electric vehicles as they are fully driven by batteries, and also electric two-wheelers have lower maintenance cost compared to the fossil fuel propelled engine two-wheelers.

Smoother Driving Experience

An electric two-wheeler does not get heated while driving, and it is easier to commute through it compared to an internal combustion two-wheeler. Electric vehicles don't have a combustion engine which results in no exhaust, giving electric two-wheelers a noise-free and smooth operation. Additionally, since there is no gear train, driving is hassle-free because the driver doesn't have to pay attention to shifting gears. Additionally, compared to internal combustion engines, electric engines vibrate less (even those with counter-balancers to reduce vibrations). Electric motors emit 50% less carbon dioxide than a typical gasoline engine, making them significantly more environmentally - friendly than those powered by gasoline. Due to these advantages, electric two-wheelers are simpler to operate than petrol-powered two-wheelers.

Government Initiatives towards Renewable Energy

Saudi Arabia experiences extreme heat and humidity, experiencing a daily rise in temperatures of up to 2-3C from the previous year. To address this issue, the Saudi Arabian government introduced regulations encouraging the use of electric vehicles, which may reduce air pollution. In order to reduce its dependency on oil and enhance its investment in alternative energy sources, the Saudi Arabian government joined the Paris Agreement. As a result, these government actions reduce air pollution levels and stimulate the market for electric two-wheelers in Saudi Arabia.

The Emergence of Electric Two-Wheelers

Automobile imports and sales have resumed after the COVID-19 epidemic. After the lockdown restrictions were uplifted, many two-wheeler manufacturing companies started production of two wheelers at full capacity, this improved the situation of international trade due to which import of two wheelers in Saudi Arabia increased. New two-wheeler models are anticipated to be released in 2022, raising Saudi Arabia's demand for electric two-wheelers. Customers frequently show greater interest in two-wheelers with batteries. Electric two-wheelers are already widely available from numerous companies in various product categories, and many more have already launched such vehicles or plan to do so soon. Triumph Motorcycles Ltd., a British manufacturer of motorcycles, will release the TE-1 electric motorbike in January 2023.

Report Scope:

In this report, Saudi Arabia electric two-wheeler market have been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Saudi Arabia Electric Two-Wheeler Market By Vehicle Type:

• Electric Scooter & Moped
• Electric Motorcycle

Saudi Arabia Electric Two-Wheeler Market By Battery Capacity:

• >25 Ah
• < 25 Ah

Saudi Arabia Electric Two-Wheeler Market By Battery Type:

• Lithium-Ion
• Lead Acid

Saudi Arabia Electric Two-Wheeler Market By Range:

• 100-150 Km
• Above 150 Km
• 50-100 Km
• Less than 50 Km

Saudi Arabia Electric Two-Wheeler Market By Region

• Northern & Central
• Western
• Eastern
• Southern

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Executive Summary

4. Voice of Customer

5. Saudi Arabia Electric Two-Wheeler Market Outlook

6. Saudi Arabia Electric Scooter & Moped Market Outlook

7. Saudi Arabia Electric Motorcycle Market Outlook

8. Market Dynamics

9. Market Trends and Developments

10. Policy & Regulatory Landscape

11. Saudi Arabia Economic Profile

12. Product Benchmarking & Pricing Analysis

13. Cost Benefit Analysis of ICE Two-Wheeler and Electric Two-Wheeler

14. Competitive Landscape

15. Strategic Recommendations

16. About the Publisher and Disclaimer

Companies Mentioned

• Barq EV
• ONE MOTO Technologies Ltd
• BMW Motorrad
• Hon Hai Precision Industry Co.
• Tacita

For more information about this report visit https://www.researchandmarkets.com/r/gdcofc

View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005455/en/