Increasingly accepted as capable, even appealing, forms of transportation, particularly in densely populated urban areas, electric two-wheel vehicles, a category that includes electric scooters, bicycles, and motorcycles, will spread rapidly over the next several years.
According to a recent report from Pike Research, worldwide sales of electric two-wheel vehicles are expected to increase at a compound annual growth rate (CAGR) of 9.4% through 2016.
“While electric two-wheel vehicles tend to be a lifestyle choice in North America and much of Western Europe, in the developing world they’re used more as primary means of transportation,” says industry analyst Dave Hurst. “Rising incomes and increased urbanization are driving the need for, and the ability to purchase, reliable transportation, and electric two-wheel vehicles fill a growing niche.” Battery improvements that extend the range and speed of the vehicles, Hurst adds, will also hasten adoption of e-motorcycles and e-scooters.
While countries in the Asia Pacific region, particularly China, will continue to account for the vast majority of E2WV sales in the next several years, the fastest growth will occur in the Middle East (54% CAGR), Latin America (30%), and North America (24%). Issues of perception and of infrastructure, however, could combine to slow that growth. While government-funded incentives for E2WVs are becoming more common, the infrastructure required for safe low-speed electric vehicles, such as separate lanes, is often an afterthought for government officials, particularly in developing countries. And in many regions, people view e-bikes and e-scooters as “old” technology that lacks the prestige of automobiles.
Pike Research‘s study, “Electric Two-Wheel Vehicles”, analyzes the global market for electric bicycles, motorcycles, and scooters. The report examines battery technologies, key opportunities and barriers, and drivers of market development. Detailed forecasts through 2016 are included for each vehicle category, along with profiles of key market players. An Executive Summary of the report is available for free download on the firm’s website.