Electric Two-Wheeler Market Trends, Share, Growth and Forecast 2023-2028

According to the latest report by IMARC Group “Electric Two-Wheeler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global electric two-wheeler market size reached US$ 35.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.18% during 2023-2028.

An electric two-wheeler is a vehicle equipped with an electric motor that is activated to assist with or replace pedaling. It comprises batteries, motors, controller, throttle, tires, digital display, brake system, cables, control panels or switches, pedal assist sensor (PAS), and battery management system. It is manufactured using various materials, such as plastic, silicon, rubber, carbon fiber, aluminum, and steel, and widely available in various colors, designs, and shapes. It is environment friendly, noise-free, and lightweight and has lower running and maintenance costs. It is also a convenient, comfortable, and safe means of transportation as compared to conventional internal combustion engine (ICE) two-wheelers.

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Market Trends:

At present, the increasing adoption of green energy and advanced lithium-ion-based electric two-wheelers among the masses represents one of the primary factors contributing to the market growth. Besides this, various benefits offered by electric two-wheelers, such as tackling traffic congestion, compact size, and high speed with less efforts, are offering a positive market outlook. Apart from this, rising concerns about the harmful impacts of carbon dioxide (CO2) and greenhouse gas (GHG) emissions around the world are propelling the growth of the market. Moreover, governing agencies of various countries are providing subsidies and tax rebates on the purchase of electric two-wheelers across the globe, which is bolstering the growth of the market. Furthermore, the rising adoption of electric two-wheelers, as they are easy to maintain and cost-effective, is strengthening the market growth.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • AIMA Technology Co. Ltd.
  • Ampere Vehicles Pvt. Ltd.
  • BMW AG
  • Energica Motor Company S.p.A.
  • GOVECS AG
  • Hero Electric Vehicles Pvt. Ltd.
  • Mahindra GenZe
  • Terra Motors Corporation
  • Vmoto Limited
  • Yadea Technology Group Co. Ltd.
  • and Zero Motorcycles

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The report has segmented the market on the basis of Product Type, End-User and Region.

Breakup by Vehicle Type:

  • Electric Scooter/Moped
  • Electric Motorcycle

Breakup by Battery Type:

  • Lithium-Ion
  • Sealed Lead Acid (SLA)

Breakup by Voltage Type:

  • <48V
  • 48-60V
  • 61-72V
  • 73-96V
  • >96V

Breakup by Peak Power:

  • <3 kW
  • 3-6 kW
  • 7-10 kW
  • >10 kW

Breakup by Battery Technology:

  • Removable
  • Non-Removable

Breakup by Motor Placement:

  • Hub Type
  • Chassis Mounted

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Absorption Costing MCQs with Answers Explanation Engineering ECE

What Is Absorption Costing?

Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.

Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.

However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.

Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?

a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead

Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.

When production exceeds sales, absorption costing will result in:

a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing

Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.

Which of the following statements is true about absorption costing?

a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes

Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.

In a period of increasing production and sales, absorption costing will result in:

a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing

Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.