Electric motorcycles and scooters market to surge by 2017
As electric passenger cars become increasingly familiar to consumers around the world, electric motorcycles and scooters are also growing in popularity. E-motorcycles and e-scooters are already used in significant numbers in China and other parts of Asia Pacific, due in large part to urbanization trends, and people in many countries are accustomed to using two-wheel vehicles as a primary mode of transportation.
In other regions, improving customer perception, government incentives, and high petroleum fuel costs all contribute in some part to the demand growth for electric motorcycles and scooters.
Senior analyst Dave Hurst said: â€œElectric motorcycles and scooters have strong appeal for many consumers. They are relatively low cost to own, do not take a lot of space, and are easy to maintain, therefore making them attractive for city dwellers. Governments also like these vehicles because they can utilize existing transportation and electricity infrastructure without the congestion problems and emissions impacts of conventional automobiles.â€
Mr Hurst adds that, fueled by those same market drivers, e-scooters will represent a much larger industry, outselling e-motorcycles by a factor of more than six to one on a global basis. However, he expects that the mix will be considerably different in certain regions, such as North America, where e-motorcycles will represent 59 percent of combined sales due to their higher speeds and longer range than e-scooters.
Pike Researchâ€™s analysis indicates that the growth in electric two-wheel vehicles will also have a meaningful impact on demand for batteries. The vehicles will utilize both lithium ion (Li-ion) and lead acid batteries.
The firm forecasts that the market for Li-ion for e-motorcycles will expand at a compound annual growth rate (CAGR) of 24 percent between 2011 and 2017, while Li-ion for the e-scooters market will increase at a CAGR of 19 percent. The lead acid battery market will grow, as well, particularly in emerging markets, with the e-motorcycle sector garnering a 27 percent CAGR and e-scooters a 29 percent CAGR for the same period.
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