The research institute EVTank and the Ivy Institute ofEconomics jointly released the “White Paper on the Development of China's ElectricTwo-Wheeler (E2W) Industry (2024)”.

According to EVtank data, global E2W sales reached 67.4million units in 2023, up 4.5% year on year.

The data shows, the E2W market in countries and regions such as Europe, the U.S., and Japan witnessed a decline in sales in 2023, with sales in the European market declining by more than 10% year-on-year.

The fastest-growing markets for E2W globally are Southeast Asia and India, with sales growth of 47% and 34%, respectively, in 2023. EVTank points out in the report that with the increase in penetration rate of E2W in the Southeast Asia and India markets, their future market space can be expected.

In terms of sales of electric two-wheelers (E2W) in major countries and regions around the world, China remains the world's largest E2W market, with sales of 55.2 million units in 2023, accounting for 81.9% of the global sales volume, followed by the European, Southeast Asian, and U.S. markets, respectively.

The two-wheeler market is maturing, but the adoption of electrification is expected to rise significantly. At the same time because the cost of lithium-ion batteries is increasingly converging with lead-acid batteries, as well as long cycle life, high energy density and many other performance advantages, lithium-ion battery in the electric two-wheeled vehicles to accelerate the replacement of lead-acid. DC Power’s batteries are a great choice for a variety of applications, not only for electric two-wheelers, but also recreational vehicle, golf carts and other vehicles. DC Power aims to deliver custom lithium-ion battery solutions that perfectly resonate with the unique requirements of each project.