Two-wheeled electric vehicles are mainly divided into three categories
Two-wheeled electric vehicles are integrated personal transportation vehicles that use batteries as an auxiliary energy source, and are installed with motors, controllers, display instruments and other components on the basis of two-wheeled vehicles. Two-wheeled electric vehicles are generally divided into three categories, namely, electric bicycles, electric mopeds and electric motorcycles. E-bikes are usually equipped with a riding function and are relatively light and portable. The appearance is usually similar to that of a normal bicycle with less plastic covering and more exposed frame parts. The battery is usually placed behind the pedals or seat. An electric moped is more similar in appearance to a motorcycle, with more plastic covering and less exposed frame. Compared to an electric bicycle, an electric moped has a higher motor power, longer range and greater loading capacity. Electric motorcycles are similar in appearance to electric mopeds, with most of the bodywork covered in plastic. Of the three categories of electric two-wheelers, electric scooters generally have the most power and load capacity. E-scooters also have relatively powerful braking systems for better overall performance, and specific qualifications and licenses are required for the production of electric mopeds and e-scooters.
The growth rate of two-wheeled electric vehicle production has slowed down in the past two years
In 2021, China's overall production of electric two-wheeled vehicles will reach 54.43 million units, a year-on-year growth of 12.6%, a substantial decline in growth from 2020. Among them, the output of electric motorcycles was 2.51 million units, an increase of 21.3% year-on-year, and the output of electric mopeds was 640,000 units, a decline of 41.6% year-on-year. 2022, China's overall production of electric two-wheeled vehicles reached 59.04 million units, an increase of 8.5% year-on-year growth rate, and the growth rate for two consecutive years of a downward trend. Mainly due to China's *** enjoyment of electric two-wheeled vehicle placement encountered policy resistance began to tighten, the United States and drop operators slowed down or even stopped putting *** enjoyment of electric vehicles; at the same time, the implementation of the new national standard policy in some areas of the country is slow, most of the cities have delayed the implementation of the 1-2 years, resulting in a slowdown in the replacement of non-national standard vehicles.
Lithium-ion battery shipments for two-wheeled electric vehicles decline in 2022
According to EVTank statistics, China's lithium-ion battery shipments for two-wheeled electric vehicles grow year by year from 2018-2021, and in 2021 China's lithium-ion battery shipments for two-wheeled electric vehicles reach 13.1GWh; and The first decline in 2022, shipments of 11.7GWh, so in 2022, the lithium version of two-wheeled electric vehicles production of 11.51 million units, a year-on-year decrease of 12.6%, resulting in a decline in its overall penetration rate from 24.2% in 2021 to 19.5% in 2022. This is mainly due to the high price of lithium batteries in 2022, with manufacturers opting for relatively cheaper lead-acid batteries in order to control cost expenses.
Two-wheeled Electric Vehicle Sales Reach New Highs in 2022
China's two-wheeled electric vehicle industry has been in a mature stage for many years from 2013 to 2019, characterized by slower growth and higher market concentration, and the initial rise of food and beverage takeaways, e-commerce and on-demand deliveries, as well as smart technologies. Nonetheless, total sales of electric two-wheelers in China grew from 30.5 million units in 2017 to 49.8 million units in 2021, at a CAGR of 13.0%, as the adoption of the new national standard in 2019 drove the elimination of non-compliant vehicles and stimulated huge replacement demand, and marked the beginning of the renewal and conversion phase. According to statistics from the China Bicycle Association and the China Motorcycle Chamber of Commerce, forward-looking preliminary statistics show that China's sales of two-wheeled electric vehicles will be about 56.7 million units in 2022, a new high.
Electric bicycle is the largest segment of the product market
From the point of view of China's two-wheeled electric vehicle sales in 2022, electric bicycle is the largest segment of China's two-wheeled electric vehicle, according to the China Bicycle Association preliminary statistics, China's sales of electric bicycles in 2022 is about 50 million, accounting for about two-wheeled electric vehicle 88% of the market; followed by electric motorcycles, sales of about 4.42 million units in 2022, accounting for 8% of the market.
For more research and analysis of this industry, please refer to "China Electric Vehicle Industry Market Demand Forecast and Investment Strategy Planning Analysis Report" by Prospect Industry Research Institute.