- Increasing government push is likely to boost sales of Electric Vehicles due to exemption of taxes and duties.
- Lack of market leaders and ease of entry will act a positive reinforcement for the emergence of newer homegrown EV manufacturing companies.
- Increasing technological advancement and emergence of Electric Mobility-as-a-Service (EMaaS) will be witness in the EV space.
GURUGRAM, India, Aug. 8, 2022 /PRNewswire/ — Increasing Government Support and Initiatives
UNEP has worked with electric vehicle associations in Malaysia, the Philippines, Singapore and Thailand to develop comprehensive recommendations for policymakers to spur the adoption of electric two- and three-wheelers. Some of these measures include manufacturing and consumer subsidies, tax and insurance adjustments for electric and more pollutive vehicles and mandating fuel economy standards and consumption limits. The incentives announced in Budget 2022 are expected to kick start EV adoption among the general public and the plans for government fleet electrification will further pave the way to instill public confidence and interest. In addition to economic instruments, the provision of a friendly regulatory structure and long- term commitment by the government through sustainable business models will attract investment by the private sector. The participation of the private sector will accelerate the adoption of EVs as more resources such as funding, talent, and facilities can be tapped.
Malaysia Electric Two-Wheeler Market Overview
There are few electric 2-wheeler brands in Malaysia. A new company entering the market can easily establish itself in the market with a better business model and strategy. Companies have incentives to enter the industry, as it is still at a nascent stage and is expected to grow. For example, Honda plans to launch four electric two-wheelers by 2024.
Increasing Technological Advancements
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 the reducing their cost.
Battery Swapping Technology is pioneering Electric Mobility-as-a-Service (EMaaS) in Malaysiaby developing Smart Swap – a game-changing turnkey solution for a battery-swapping infrastructure for Electric Motorcycles.
Increase in charging infrastructure
In Malaysiathe launch of the National Low Carbon Cities 2030 plan, entails the establishment of 200 low carbon zones across the country, which may bring about a greater push for green vehicle options, including EVs. Malaysia plans to build 25,000 public charging points and 100,000 private charging points by 2030.
Saving the Environment
Along with being noisy, the mushrooming number of conventional cars, motorcycles and scooters is driving up energy consumption, air pollution and greenhouse gas emissions. To combat those problems, Malaysiawith support from the United Nations Environment Programme (UNEP), is encouraging drivers to trade in gas-guzzlers for electric motorbikes. Transitioning this fleet to electric models will help reduce pollution and greenhouse gas emissions, especially when properly integrated into public transport systems.
The publication titled “Malaysia Electric Two-Wheeler Market Outlook to 2026: Driven by increase in awareness about alternative fuel, advancements in battery technology, and growing demand of two-wheelers in B2B Services” provides a comprehensive analysis of the electric two-wheeler vehicle industry by analyzing historical statistics and corresponding developments in the electric vehicles market. The market growth declined during COVID as manufacturing activities were on halt and the supply chain got disrupted. Given the consolidated structure in the electric vehicle industry, analysts have elaborated on competitive landscape of major electric 2-wheelers players on the basis of models launched, product prices, technology type and other operational parameters. The report also covers a snapshot on player’s business model, value chain analysis, growth drivers, Porters 5 forces analysis, impact of COVID-19 and factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the electric two-wheelers industry. The report focuses on Electric two-wheelers Vehicle Market segmentation by Type of Electric two-wheeler Vehicle, Type of Battery Capacity, Type of Battery Technology, Type of Voltage used, and Type of Battery used. The report highlights the pain points of the electric vehicles industry along with detailed company profiles of major electric 2-wheeler brands. The report concludes with projections for future industry market size, market segmentations and analysts take on future market scenarios.
Key Segments Covered in Malaysia Electric Two Wheeler Vehicles Industry
By Type of Electric 2-wheelers
- Electric scooter
- Electric motorcycle
By Type of Battery Capacity for electric 2 wheelers
By Battery Technology Type for electric 2 wheelers
- Removable batteries
- Non-removable batteries
By Voltage Type for electric 2 wheelers
By Battery Type for electric 2 wheelers
- Lithium-Ion
- Sealed Lead Acid
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Time Period Captured in the Report:
- Historical Period: 2016-2021
- Forecast Period: 2022F-2026F
Malaysia Electric Two-Wheeler Vehicles Industry Players
- Electric 2 wheelers
- Eclimo
- Treeletrik
- NIU
Key Topics Covered in the Report:-
- Electric two-wheeler Vehicles Industry Future Outlook
- Value Chain Analysis of Electric two-wheeler Vehicles Industry
- Business Models of Major Entities in the Electric two-wheeler Vehicles Industry
- Customer Preferences and Buying Decision Behavior in Electric two-wheeler Vehicles Industry
- Market Size of Electric two-wheeler Vehicles Industry by Transaction Value and Sales Volume
- Market Potential of Malaysia Electric two-wheeler Vehicles Market
- Market Segmentation of Electric two-wheeler Industry by type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, and by battery type
- Competitive Scenario of the Electric two-wheeler Vehicles Industry
- Issues and Challenges in Electric two-wheeler Vehicles Market
- Trends and Developments in the Electric two-wheeler Vehicles Industry
- Porter’s Five Forces analysis of the Electric two-wheeler Vehicles Industry
- Growth Drivers of Electric two-wheeler Vehicles Industry
- Challenges and Restraints in the Electric two-wheeler Vehicles Industry
- Government Rules and Regulations in the Electric Vehicles two-wheeler Industry
- Impact of Covid-19 and Government Regulations on Electric two-wheeler Vehicles Industry
- Future Market Size of Electric two-wheeler Vehicles Industry by Transaction Value and Sales Volume
- Future Market Segmentation of Electric two-wheeler Vehicles Industry by type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, by battery type
- Industry Speaks
- Analyst Recommendations
- Research Methodology
For More Information, refer to below links:-
Malaysia Electric Two-Wheeler Industry
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UAE is the second largest automotive market in the Gulf Cooperation Council (GCC) after Saudi Arabia owing to the growing population and high disposable income. The demand for vehicles in the country mainly originates from the construction, infrastructure, logistics, tourism, and public transport sectors have turned the emirate into a major exporter and re-exporter of vehicles. The transportation sector is one of the most significant contributors to CO2 emissions in UAE, second to the industrial sector. Incentives offered by the government, banks, and car dealers, has also led to the growth in the UAE’s imports of EVs and increased environmental awareness among citizens . The Battery Electric Vehicles sales grew at a CAGR of ~49% during 2017 and 2021.
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The Four Wheeler Aftermarket service industry in Egypt recorded a CAGR of ~14.5% on the basis of revenue in between 2016 and 2021. The automobile industry in general, is currently in its growth stage in the country. While the industry began more than 60 years ago, the market is highly under- penetrated with less than 50 people per 1000 population owning a car. Consequently, the relative youth of this industry also provides growth prospects for its allied sector that is the aftermarket.
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Egypt is also taking bold steps to replace internal combustion engines with more environmentally friendly alternatives. Last year the government announced an initiative to encourage consumers to replace old vehicles for new ones operating on CNG engines with extended credit facilities among its green program incentives. Egypt’s automotive aftermarket is accelerating and has been dubbed “one of Africa’s most exciting markets” as its motoring population and vehicle sales grow. The growth has fed into the aftermarket, with the country now being home to one of Africa’s largest vehicle fleets with around six million vehicles on the country’s roads.
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