Thailand Electric Two-Wheeler Market

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Thailand Electric Two-Wheeler Market
The Thailand electric two-wheeler market is
predicted to grow at 17.4 CAGR during the
forecast period in terms of value. The Thailand
market is still at a nascent level, guided by the
fact that non-governmental organisations are
encouraging and fuelling the adoption of electric
cars. Now, however, the country's government has
kick-started its actions to embrace hybrid cars,
particularly light electric vehicles. In
Thailand, numerous products, including e-scooters
and e-bikes, add significantly to the size of
the electric two-wheeler market.
By product, E-scooters hold the largest share in
the Thailand market, in terms of revenue as well
as fleet size. E-motorcycles are anticipated to
witness the fastest growth at a CAGR of 37.9,
in terms of fleet size, during the forecast
period. By battery type, the market is segmented
into sealed lead acid, Li-ion, and NiMH. Sealed
lead acid is the most common type of battery used
in the electric two-wheelers in Thailand. By
battery technology, the market is categorized
into removable battery and non-removable
battery. Non-removable batteries are majorly used
in the market as it is convenient for electric
two-wheelers to plugin and charge batteries
instead of removing and charging indoors. By
voltage, the market is segmented into 24V, 36V,
48V, 60V, 72V. 48V electric two-wheeler holds
the largest share in the Thailand electric
two-wheeler market, followed by 36V two-
wheelers.
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Thailand still has an unexplored demand for
electric vehicles and the number of electric
vehicles remains low in the region. Organized
legislation to facilitate and enable the
introduction of electric vehicles in Thailand
have yet to be drawn up by the country. The
country's light electric vehicle market is
primarily motivated by the fact that non-
governmental organisations fund and fuel the
introduction of electric vehicles. The country's
government has launched its efforts towards the
adoption of electric vehicles, including light
electric vehicles. In Thailand, the government
plans to operate 1.2 million electric vehicles
and 690 charging stations in the nation by 2036.
A letter of intent has been signed by the
Thailand Automotive Institute with the Japan
External Trade Organization (JETRO) for
discussions on next-generation vehicles to
develop Thailand's EV industry. Competitive
Insights STAR 8 (THAILAND) Co. Ltd., UDA Motor
Co. Ltd, Honda Motor Company, Ltd., E-Revolution
Co Ltd, and Ningbo MYWAY Intelligent Technology
Co. Ltd. are some of the key players operating
in the Thailand electric two-wheelers market.
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