Tue. Dec 7th, 2021

Growing concerns regarding rising greenhouse gas emission levels coupled with increasing price competitiveness of electric two wheelers to drive electric two wheeler market of Malaysia

According to TechSci Research report, Malaysia Two Wheeler Market, By Vehicle Type (Motorcycle, Scooter/Moped), By  Engine Capacity (Up to 125cc, 126-250cc, 250-500cc and Above 500cc)  By Company and By Geography, Forecast & Opportunities, 2025”, Malaysia two wheeler market was valued USD 0.81 Billion in 2019 and is forecast to grow at CAGR of 8.96% until 2025, to reach USD 1.07 Billion by 2025. Growing number of passenger and commercial vehicles have increased the congestion on roads, which has a direct effect on the usage of two wheelers in Malaysia. Travelling through highly congested areas is easier for two wheelers because of their light weight and high manoeuvrability. Two wheelers help in saving travel time, by the virtue of their high manoeuvrability, which makes travelling easier in congested traffic and narrow streets as compared to passenger cars. Thus, growing congestion on roads in Malaysia is resulting in increase in demand for two wheelers due to their high manoeuvrability and cost effectiveness.

One of the primary reasons for growing demand for two wheelers in Malaysia is that they provide better mileage compared to passenger cars, owing to smaller sizes and lighter weight. High motorcycle fuel efficiency also reduces travel cost. Moreover, two wheelers don’t have any peripheral units which consume power from engine. Also, in comparison to passenger cars, the maintenance cost of two wheelers is comparatively lower with the annual maintenance cost of a two wheeler being approximately one-third of the maintenance cost of a small passenger car. Furthermore, the tax and insurance cost incurred in owning a two wheeler is also low compared to passenger car. Thus, better fuel economy, low maintenance cost and low cost of ownership are among the major driving factors boosting demand for two wheelers in Malaysia.

Browse 32 market data Figures and 9 market Tables spread through 93 Pages and an in-depth TOC on “Malaysia Two Wheeler Market”

https://www.techsciresearch.com/report/malaysia-two-wheeler-market/3194.html

Malaysia electric two wheeler market can be segregated based on vehicle type, battery capacity, battery type and region. Malaysia two wheeler market was dominated by scooters, capturing a volume share of more than 65% in 2019, predominantly due to their lower prices, better maneuverability and the increasing preference of these vehicles by the female population. The country is witnessing massive growth in employment among the female population. More and more women are taking up service jobs where they are required to travel every day. Keeping in mind their personal mobility and safety, scooters appears as a convenient travel option.

Major companies operating in the economy include Boon Siew Honda Sdn Bhd, Suzuki  Malaysia Sdn Bhd, Hong Leong Yamaha Motor, TVS Motor Company, Kawasaki Motors (Malaysia) Sdn Bhd, Sanyang Motor Co., KTM Malaysia, Motosikal dan Enjin Nasional Sdn Bhd, Harley Davidson Petaling Jaya and Eclimo Sdn Bhd., among others.

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“Electric two wheelers exhibit huge growth potential and the market is projected to witness a CAGR of 16.20% during the forecast period, in volume terms. Even though the current purchasing cost is higher than that of the conventional counterpart, but in the near future the price is expected to decline to a large extent with the continuous decline in battery cost which accounts for a huge cost share of an electric vehicle. From 2010 to 2020, the cost of batteries declined by almost 15%, which is further expected fall by 30 to 35% during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Malaysia Two Wheeler Market, By Vehicle Type (Motorcycle, Scooter/Moped), By  Engine Capacity (Up to 125cc, 126-250cc, 250-500cc and Above 500cc)  By Company and By Geography, Forecast & Opportunities, 2025 has analyzed the potential of Malaysia electric two wheeler market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Malaysia electric two wheeler market.

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