Overview of Malaysia Electric Vehicle Industry Size:
Electric Two-Wheeler Market in Malaysia recorded a positive CAGR of xx% on the basis of revenue generated in between 2016 and 2021. The Malaysian market is primarily driven by the anticipated government initiatives in the coming years along with the need to curb vehicular emissions. The electric two-wheeler market size in Malaysia is primarily driven by a variety of goods, such as e-scooters and e-motorcycles. The electric two-wheeler set-up appears a lot more promising, in the form of research, financial acquisitions & investments, that makes the electric vehicle segment thrilling. Electric two-wheelers, by its swiftness and dexterity, easy operability and maintainability, affordability and low pollution, are most welcome among different categories of users. Mostly the customer segment that wants this change in pace includes city dwellers, short distance commuters, frequent road drivers and users of special needs. Besides personal use, electric two-wheelers also increasingly find their place in public service, such as urban sanitation, domestic and short distance patrolling, in delivery service, etc. As fuel prices climb, consumers prefer to switch to battery-powered electric bikes and scooters. There is a growing demand of two-wheelers in B2B services such as scooter sharing, hailing, and last mile transportation.
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, Malaysia, with support from the United Nations Environment Programme (UNEP), is encouraging drivers to trade in gas-guzzlers for electric motorbikes.
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. 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. Technological advancements in electric vehicle industry have made electric two-wheelers affordable and increased their performance and efficiency. The major reason for the affordable prices of electric scooters and bikes is the advancement in battery technology. In Malaysia, the 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 Electric 2-Wheeler Market Segmentation, 2021
By Type of Electric Vehicle (4-Wheeler and 2-Wheeler): In 2021, Electric 4-Wheelers dominated the Electric Vehicle Market in Malaysia and generated a revenue of USD xx Million. Electric 2-Wheelers helped in contributing xx% of the total Electric Vehicle market in Malaysia generating a revenue of USD xx Million.
By Type of E2V Battery Capacity (<25Ah and >25Ah): In 2021, Electric 2-Wheelers using a battery capacity of <25Ah dominated the market by capturing a market share of xx% with a revenue of USD xx Million. In order to get a speed of at least 50kmph, as per the government rules, a battery capacity of more than 50Ah will be required on going way forward.
By Type of E2V Battery Technology (Removable Battery and Non-Removable Battery): Electric 2-Wheeler Vehicles can also be segmented on the basis of Type of Battery Technology: Non-Removable Battery and Removable Battery. Non-Removable Battery dominated the market by capturing xx% of the market share.
By Type of E2V Voltage Type (24V, 36V, 48V, 60V, 72V): Electric 2-Wheeler Vehicles can be segmented on the basis of type of Voltage: 36V, 48V, 60V, and 72V.Electric 2-Wheelers using a voltage of 48V dominated the Electric 2-Wheeler market in Malaysia by capturing a market share of xx% with a revenue of USD xx Million.
By Type of E2V Battery Type (Lead Acid and Lithium Ion): Improved discharge and charging efficiency coupled with longer life span contributed in enhancing the demand of lithium-ion batteries compared to lead acid batteries. Although, lithium-ion batteries are much more expensive that its counterpart but their maintenance free feature will match their higher price tag, which will be preferable to consumers.
Competitive Landscape in Malaysia Electric 2-Wheeler market, 2021
Malaysia’s Electric two-wheeler Vehicle Industry is consolidated with presence of limited players for 2-wheelers. These players compete with each other on the basis of products offered, product quality, value added services, product pricing, its features, battery technology type, battery capacity, battery type, voltage type etc. Companies like Eclimo has adopted a B2B model, where they rent/sell their electric 2-wheelers to corporates such as KFC. Companies like Eclimo and KuroEV provide electric two wheelers rental services for a monthly or yearly subscription in Malaysia.
The report also provides comprehensive insights on the company profiles of leading players of electric vehicle in the ecosystem. The profiles of these players cover various parameters such as Company Overview, Operational and Financial Parameters, Unique Selling Propositions, Battery Specification and Pricing of ES11 Models, Recent Developments, Competitors on road, Mergers and Acquisitions, Clientele and Future Plans.
Future outlook of Malaysia Electric 2-Wheeler market, 2021-2026E
Electric two-wheeler industry in Malaysia is estimated to generate a revenue of USD xx Million in 2026E, expanding at a CAGR of xx% in between 2021 and 2026E. Increasing demand of two-wheelers in B2B services such as scooter sharing, hailing, last mile transportation and delivery services will contribute to the growth of EV two-wheeler industry in Malaysia. One of the major determinant for the surging growth in coming years is attributed to the government initiatives and policies supporting the EV industry such as exemption of import duty, excise and sales tax for CBU and CKD electric vehicles till 2023 and 2025 respectively. Coupled with that, income tax exemption for individuals up to RM 2,500 on the cost of installation, rent, hire or purchase for electric vehicle charging facilities will serve as a catalyst for the growth of the industry. Increasing awareness on environmental impacts and consumer’s consciousness towards limiting carbon footprint will also contribute in increasing the business potential of EV players. The increasing government efforts in electrification of two-wheelers coupled with efforts towards making Malaysia the regional hub of energy efficient vehicles is expected to drive the growth of the two-wheeler market in the next five years.
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Key Topics Covered in the Report:
- Ecosystem of Electric two-wheeler Vehicles Industry
- 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
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