The demand for electric two wheelers MRO services is predicted to record an impressive CAGR of 4.3% over the next decade. Currently, the electric two wheelers MRO market share is estimated to be around US$ 435.7 million for this continuing year 2023. By experiencing a favorable position, the market value of the total electric two wheelers MRO service is anticipated to reach US$ 1,414.9 million by 2033.
As countries tighten their regulations on pollution, sales of electric vehicles (EVs) are rising to create sufficient growth opportunities for associated secondary businesses. Some lesser-concerned countries have also started participating in the global movement for electric vehicles in all categories.
Such positive changes have increased the count of electric two wheelers in these countries, emerging as an attractive market participants. For instance, Australia has just joined the worldwide two wheelers MRO market rivalry by gaining a market share of around 1.1%.
The producers have developed innovative products and commercial models, reviving the marketplace for small-format EVs. Despite how unlikely it is, electric two wheelers could eventually turn up the future of short-distance mobility. Unless their functionality and costs improve, electric two wheelers may take longer to replace non-electric ones as the preferred method of transportation.
Most electric two- and three-wheelers use relatively affordable lead-acid batteries, but regulatory measures may soon force a conversion to lithium-ion batteries. With higher capacity, these batteries are more portable, and thus, a longer range of travel can be expected from electric two wheelers. Such advancements are projected to increase the demand for third-party MRO service providers to maintain the dependability over electric two wheelers.
| Attributes | Details |
|---|---|
| Electric Two Wheelers MRO Market Share (2022) | US$ 385.6 million |
| Electric Two Wheelers MRO Market Size Value (2023) | US$ 435.7 million |
| Electric Two Wheelers MRO Market Size Value (2033) | US$ 1,414.9 million |
| Electric Two Wheelers MRO Market Growth Rate (2023 to 2033) | 4.3% |
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The first electric motorcycles were developed in the 1890s but received a different recognition than other early electric transportation breakthroughs. But currently, various development has come together to make e-bikes more widely accepted.
The overall demand for electric two-wheelers MRO can appear underwhelming compared to the electric car and commercial vehicle MRO market. The adoption of electric two wheelers MRO services was around US$ 284.5 million in 2018, or 14% of the global EV MRO business. Then in the following years, it maintained a restrained growth rate of 7.9% and reached US$ 385.6 million by 2022.
Meanwhile, the global electric two wheelers MRO market is picking up steam, with the sales volume of E2Ws and E3Ws rising by 14% yearly. Compared to the earlier growth rate, adopting electric two-wheeler MRO services is getting closer to MRO services for E4Ws.
Measures and rules have been implemented by national governments and city administrations to hasten the transition to a sustainable mode of transportation. Moreover, to further popularize the adoption of electric scooters and superbikes, government authorities are putting in much effort for all requirements for its success.
Unfortunately, the lack of sufficient supervision measures over intermediary MRO service providers may hamper the growth trajectory of the market for the next few years. However, standards for electric two wheeler MRO services are being implemented in several metropolitan areas that would be furthering the emerging trends in the market.
Principal Consultant
Service centers authorized by original equipment manufacturers currently account for 56.5% of the global electric two wheelers MRO business. Based on survey reports and statistics figures this segment created a net worth of US$ 217.86 million from its E2W MRO services. As per the market analysis report, these OEM authorized service centers are expected to grow at a higher rate.
The franchise general repair centers would witness a higher CAGR over the forecast years. As more and more e-bike manufacturers enter the MRO service sector, this segment is expected to overtake the former.
Broadly, we anticipate that the sales of electric scooters and light bikes may see remarkable growth in electrification. Heavy motorcycle electrification is expected to follow, albeit not to the same extent as with electric scooters or mopeds.
The United States lags behind in terms of contribution to the global electric two wheelers MRO market share. On account, it now represents only 4.3% of the market's size and is expected to bring in US$ 18.7 million in 2023.
Further, in order to achieve net GHG emissions targets by 2030, The Biden administration also unveiled a target of 50% EV usage. To keep up with this trend, the federal administration and many State administrations are favoring the institutionalization of MRO service networks for EVs.
The foremost nation for providing MRO service for electric two wheelers in Europe is Germany. However, the share of this region in comparison to other nations is only 2.7% and would generate US$11.7 million by end of the year 2023. Given that the sales graph of electric two wheelers is plateauing in the United States and accelerating in Europe, Germany would remain a lucrative region.
Meanwhile, in the recent years, the demand for electric two wheelers MRO services has increased significantly in the United Kingdom. So over the projection years, FMI estimates that the United Kingdom market would advance at a compound annual growth rate of 7.5%. After the European Union unveiled its ‘Fit for 55’ program, countries are aiming to establish coordination of EV manufacturing and aftersales services more rapidly.
It is anticipated that China's two-wheeler MRO service providers would remain beneficial of the stringent government regulations to adopt EVs. Also, because of the growing size of the Chinese two-wheeler MRO industry, a 13.1% CAGR may continue to hold sway until the year 2033. Furthermore, China has a two wheeler electrification rate of over 80%, establishing itself as the market leader by a wide margin.
According to the market survey report of FMI, Japan now accounts for the significant portion of the income from MRO services for electric bikes. This sum was calculated to be roughly US$ 59 million in 2022, which worked out to be 15.3% of the global market. With a higher customer base for electric scooters and mopeds, Japan market is projected to reach US$ 216.5 million by 2033.
Electric three wheelers are by far the most popular in India, where they currently make up around half of all motorbikes. While electric two wheelers or e-bikes are still at the initial stage of adoption as the count of ICE bikes is very high. According to data gathered by FMI, until 2033, the need for two wheelers MRO services is expected to increase in this nation at a pace of 13.8% every year.
Typically, the cost of the battery in electric two wheelers accounts for about 60% of its price and is anticipated to decrease in the future. So any advancement in this direction of making EVs affordable for the common people is anticipated to further boost the market.
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While the popularity of electric two wheelers rises as their range increases, this changeover may present EV manufacturers a chance to enter the MRO services sector. Most countries in developing economies are also providing EV rebates that are anticipated to transpire into an opportunity for MRO service providers.
The global key players that provide electric two wheelers MRO services are finding it limited options due to a small market of the electric cycle and scooter users. Many of the prominent players are targeting to expand their business to Asia Pacific countries with a large customer base of two wheeler users.
China, India, and Japan with favorable market regulations remain the top choices of many global electric two wheeler MRO service providers. Since lead-acid batteries have been used here for a long time, there may be a large demand for MRO services to replace them.
Advancement and integration of digital communication technology have further strengthened the market position of remote MRO service providers for providing quick solutions. With further developments in the EV market, some players have already developed linked electric two wheelers for reducing communication time. For illustration, an Indian e-bike manufacturer has developed a well-liked second-generation electric motorcycle with automatic signal transmission for any problem.
So in recent years, there has been a significant entry of many e-bike manufacturers in this sector to provide MRO services to their customers. As the third-party MRO service providers for E2Ws are still in the developing phase, these companies have a greater chance to emerge as leading players. A high-end electric two-wheeler with a connection may be significantly more alluring to customers in the market than a typical electric cycle or moped.
The market is estimated at US$ 435.7 million in 2023.
The market’s CAGR from 2023 to 2033 is expected to be 4.3%.
Globally, service centers accounted for 56.5% of market share.
By 2023, the United States may represent 4.3% of the share.
Providing and expanding MRO services to meet demand.
1. Executive Summary | Electric Two Wheelers MRO Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Vehicle Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vehicle Type, 2023 to 2033
5.3.1. Electric Scooter/Moped
5.3.2. Electric Motorcycle
5.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Vehicle Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service Provider
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Service Provider, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Service Provider, 2023 to 2033
6.3.1. Franchise General Repairs
6.3.2. OEM Authorized Service Centres
6.3.3. Other Service Providers
6.4. Y-o-Y Growth Trend Analysis By Service Provider, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Service Provider, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Vehicle Type
8.2.3. By Service Provider
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Vehicle Type
8.3.3. By Service Provider
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Vehicle Type
9.2.3. By Service Provider
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Vehicle Type
9.3.3. By Service Provider
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Vehicle Type
10.2.3. By Service Provider
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Vehicle Type
10.3.3. By Service Provider
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Vehicle Type
11.2.3. By Service Provider
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Vehicle Type
11.3.3. By Service Provider
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Vehicle Type
12.2.3. By Service Provider
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Vehicle Type
12.3.3. By Service Provider
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Vehicle Type
13.1.2.2. By Service Provider
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Vehicle Type
13.2.2.2. By Service Provider
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Vehicle Type
13.3.2.2. By Service Provider
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Vehicle Type
13.4.2.2. By Service Provider
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Vehicle Type
13.5.2.2. By Service Provider
13.6. United Kingdom
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Vehicle Type
13.6.2.2. By Service Provider
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Vehicle Type
13.7.2.2. By Service Provider
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Vehicle Type
13.8.2.2. By Service Provider
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Vehicle Type
13.9.2.2. By Service Provider
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Vehicle Type
13.10.2.2. By Service Provider
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Vehicle Type
13.11.2.2. By Service Provider
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Vehicle Type
13.12.2.2. By Service Provider
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Vehicle Type
13.13.2.2. By Service Provider
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Vehicle Type
13.14.2.2. By Service Provider
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Vehicle Type
13.15.2.2. By Service Provider
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Vehicle Type
13.16.2.2. By Service Provider
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Vehicle Type
13.17.2.2. By Service Provider
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Vehicle Type
13.18.2.2. By Service Provider
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Vehicle Type
13.19.2.2. By Service Provider
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Vehicle Type
13.20.2.2. By Service Provider
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Vehicle Type
14.3.3. By Service Provider
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Bosch Mobility Solutions
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Ola Electric
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Benling
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Hero Electric
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. TVS
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Ather
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Garage Works
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. SpareIt
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. Vmoto Limited
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Terra Motors Corporation
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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Electric Two Wheelers MRO Market
