Thailand Electric Two-Wheeler Market

Industry Overview

The Thailand Electric Two-Wheeler Market is predicted to grow at 18.4% CAGR during the forecast period in terms of value.

The Thailand market is still at a nascent stage, however, driven by the fact that non-government organizations are supporting and fuelling electric vehicle adoption. The government has kick-started its actions towards the adoption of electric vehicles including electric two wheelers. As urbanization, air pollution and climate change intensify along with rising fuel costs, interest in electric motorcycles is growing. Different products including e-scooters and e-bikes are majorly contributing to the electric two-wheeler market size in Thailand.

Thailand Electric Two-Wheeler Market Report Coverage

Report Metric	Details
Historical Period	2018 - 2023
Base Year Considered	2024
Forecast Period	2025 - 2030
Market Size in 2023	U.S.D.  XX Billion
Revenue Forecast in 2030	U.S.D.  XX Billion
Growth Rate	18.4%
Segments Covered in the Report	By Product, By Battery Type, By Battery Technolog, By Voltage
Report Scope	Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report	Thailand

Thailand Electric Two-Wheeler Market Industry Dynamics

Thailand Electric Two-Wheeler Market Trends / Growth Drivers

Thailand is still unexplored electric vehicle market and the number of electric vehicles in the country remains low in the country. The country has yet to formulate organized regulations to promote and encourage electric vehicle adoption in Thailand. Government support, increased popularity of electric vehicles and rising environmental awareness drive the demand for electric two wheelers. These vehicles provide a cost-effective alternative. Also their lower operating costs and zero emissions align with urban mobility needs. Electric two wheelers are more affordable specially for the middle class of the society that plays an important role in the adoption of these vehicles to reduce the transportation costs. Subsidies and incentives offered by the Thai government has introduced various incentives to promote electric vehicles. OEMs such as Honda, Yamaha, and Kawasaki are now venturing into electric two-wheelers, also startups are creating innovative e2Ws designed specifically for the Thai market. Environmental awareness and cost-effectiveness of the electric two-wheelers play a vital role in the market growth of the Thailand Electric Two Wheeler Market.

Thailand Electric Two-Wheeler Market Challenges

Limited charging infrastructure, lack of awareness among the individuals and high initial cost are the factors hindering the market growth. 

Recent Developments by Key Players

Honda R&D (India) Private Limited (HRID)a which is a subsidiary of Honda Motor Co., Ltd. and functioning as Honda’s research and development arm for motorcycles & power products in India has inuagurated its new Solution R&D Center in Bengaluru, Karnataka. The Solution R&D Center shall incorporate advanced mobility technologies into electrified vehicle development more quickly. It shall also work on software and connected services through ‘co-creating’ open innovation by adopting technologies and ideas of research and development companies.

Thailand Electric Two-Wheeler Market Segmentation

VynZ Research provides an analysis of the key trends in each segment of the China Electric Two Wheeler Market report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on product, battery type, battery technology and voltage.

Insight by Product

Based on product, the market is categorized into e-scooters, e-bikes, e-motorcycles, and others. 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.

Insight by Battery Type

Based on battery type, the market is segmented into sealed lead acid, Li-ion, and NiMH. Of all, sealed lead acid is the most common type of battery used in electric two-wheelers in Thailand. Lower prices are the primary reason behind the highest share of sealed lead acid batteries in the Thailand electric two-wheelers market.

Insight by Battery Technology

Based on battery technology, the market is categorized into removable battery and non-removable battery. Of both categories, non-removable batteries are majorly used in the market as it is convenient for electric two-wheelers to plug in and charge batteries instead of removing and charging indoors.

Insight by Voltage

Based on voltage, the market is segmented into 24V, 36V, 48V, 60V, 72V. Of all, 48V electric two-wheelers hold the largest share in the Thailand electric two-wheeler market, followed by 36V two-wheelers. Most of the e-scooters run with a battery of 48V which provides it optimum power to perform better in the congested metropolitan cities of the country.

Thailand Electric Two-Wheeler Market: Geographic Overview

Thailand Electric Two-Wheeler Market Competitive Insight

Star8 Thailand is one of the Star8 Group companies which is a leader in electric vehicle innovation like electric tuk tuk, electric motorcycle and solar cell products like international solar roof panels, solar glass or solar lamps 

E-Revolution Co Ltd imports, manufacturers and exports electrical goodies like bikes, water scooters and vehicles.

The Thailand Electric Two-Wheeler Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Product

1.2.2. By Battery Type

1.2.3. By Battery Technology

1.2.4. By Voltage

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1.  By Product

3.1.1. E-Scooters

3.1.2. E-Bikes

3.1.3. E-Motorbikes

3.1.4. Others

3.2.  By Battery Type

3.2.1. Sealed Lead Acid

3.2.2. Li-ion

3.2.3. Ni-MH

3.3.  By Battery Technology

3.3.1. Non-removable/Plugin

3.3.2. Removable

3.4.  By Voltage

3.4.1. 24V

3.4.2. 36V

3.4.3. 48V

3.4.4. 60V

3.4.5. 72V

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Major Drivers

4.1.2. Major Restraints

4.1.3. Key Trends

4.1.4. Key Opportunities

4.2.  Industry Ecosystem

4.2.1. Value Chain Analysis

4.2.2. Regulatory Framework

4.3.  Competitive Insight

4.3.1. Competitive Analysis of Key Players

4.3.2. Market Attractive Analysis

5. Thailand Market Estimate and Forecast

5.1.  By Product

5.2.  By Battery Type

5.3.  By Battery Technology

5.4.  By Voltage

6. Company Profiles

6.1.  STAR 8 (THAILAND) Co. Ltd.

6.1.1. Snapshot

6.1.2. Overview

6.1.3. Offerings

6.1.4. Financial Insight

6.1.5. Recent Developments

6.2.  UDA Motor Co. Ltd.

6.2.1. Snapshot

6.2.2. Overview

6.2.3. Offerings

6.2.4. Financial Insight

6.2.5. Recent Developments

6.3.  Honda Motor Company, Ltd.

6.3.1. Snapshot

6.3.2. Overview

6.3.3. Offerings

6.3.4. Financial Insight

6.3.5. Recent Developments

6.4.  E-Revolution Co Ltd.

6.4.1. Snapshot

6.4.2. Overview

6.4.3. Offerings

6.4.4. Financial Insight

6.4.5. Recent Developments

6.5.  Ningbo MYWAY Intelligent Technology Co. Ltd.

6.5.1. Snapshot

6.5.2. Overview

6.5.3. Offerings

6.5.4. Financial Insight

6.5.5. Recent Developments

7. Appendix

7.1.  Exchange Rates

7.2.  Abbreviations

Note: Financial insights and recent developments are subject to availability of information in secondary domain.

List of Tables

Table 1 Sources

Table 2 Study Periods

Table 3 Data Reporting Unit

Table 4 Thailand Electric Two-Wheeler Market Size, By Product, ‘000 Units (2018 – 2023)

Table 5 Thailand Electric Two-Wheeler Market Size, By Product, ‘000 Units (2025 - 2030)

Table 6 Thailand Electric Two-Wheeler Market Size, By Product, USD Billion (2018 – 2023)

Table 7 Thailand Electric Two-Wheeler Market Size, By Product, USD Billion (2025 - 2030)

Table 8 Thailand Electric Two-Wheeler Market Size, By Battery Type, ‘000 Units (2018 – 2023)

Table 9 Thailand Electric Two-Wheeler Market Size, By Battery Type, ‘000 Units (2025 - 2030)

Table 10 Thailand Electric Two-Wheeler Market Size, By Battery Type, USD Billion (2018 – 2023)

Table 11 Thailand Electric Two-Wheeler Market Size, By Battery Type, USD Billion (2025 - 2030)

Table 12 Thailand Electric Two-Wheeler Market Size, By Technology, ‘000 Units (2018 – 2023)

Table 13 Thailand Electric Two-Wheeler Market Size, By Technology, ‘000 Units (2025 - 2030)

Table 14 Thailand Electric Two-Wheeler Market Size, By Technology, USD Billion (2018 – 2023)

Table 15 Thailand Electric Two-Wheeler Market Size, By Technology, USD Billion (2025 - 2030)

Table 16 Thailand Electric Two-Wheeler Market Size, By Voltage, ‘000 Units (2018 – 2023)

Table 17 Thailand Electric Two-Wheeler Market Size, By Voltage, ‘000 Units (2025 - 2030)

Table 18 Thailand Electric Two-Wheeler Market Size, By Voltage, USD Billion (2018 – 2023)

Table 19 Thailand Electric Two-Wheeler Market Size, By Voltage, USD Billion (2025 - 2030)

Table 20 Snapshot – STAR 8 (THAILAND) Co. Ltd.

Table 21 Snapshot – UDA Motor Co. Ltd.

Table 22 Snapshot – Honda Motor Company, Ltd.

Table 23 Snapshot – E-Revolution Co Ltd.

Table 24 Snapshot – Ningbo MYWAY Intelligent Technology Co. Ltd.

List of Figures

Figure 1 Market Coverage

Figure 2 Research Phases

Figure 3 Secondary Sources for Different Parameters

Figure 4 Methodology

Figure 5 Data Mining & Exploration

Figure 6 Data Triangulation

Figure 7 Assumptions for Market Estimation and Forecast

Figure 8 Thailand Electric Two-Wheeler Market - Growth Drivers and Restraints

Figure 9 Value Chain Analysis

Figure 10 Competitive Benchmarking

Figure 11 Thailand Electric Two-Wheeler Market Highlight

Figure 12 Thailand Electric Two-Wheeler Market Size, By Product, ‘000 Units (2018 - 2030)

Figure 13 Thailand Electric Two-Wheeler Market Size, By Product, USD Billion (2018 - 2030)

Figure 14 Thailand Electric Two-Wheeler Market Size, By Battery Type, ‘000 Units (2018 - 2030)

Figure 15 Thailand Electric Two-Wheeler Market Size, By Battery Type, USD Billion (2018 - 2030)

Figure 16 Thailand Electric Two-Wheeler Market Size, By Technology, ‘000 Units (2018 - 2030)

Figure 17 Thailand Electric Two-Wheeler Market Size, By Technology, USD Billion (2018 - 2030)

Figure 18 Thailand Electric Two-Wheeler Market Size, By Voltage, ‘000 Units (2018 - 2030)

Figure 19 Thailand Electric Two-Wheeler Market Size, By Voltage, USD Billion (2018 - 2030)