Electric Motorcycle and Scooter Sales to Reach 18.7 Million Annually by 2018, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- Manufacturers of electric motorcycles and scooters (e-motorcycles and e-scooters) are providing more robust features, including longer range capability and higher speeds, accelerating demand for these vehicles. Although still small, the market is expected to grow strongly as consumers become more aware of the products available. According to a new report from Pike Research, a part of Navigant's Energy Practice, annual worldwide sales of e-motorcycles and e-scooters will reach 18.7 million by 2018. The vast majority of these vehicles will be sold in China.
"Two-wheel vehicles are growing in popularity as a form of transportation, particularly in large cities in the Asia Pacific region," says senior research analyst Dave Hurst. "Urbanization in Asia Pacific is expected to grow to 55 percent by 2015. The resulting increased traffic and pollution have driven significant government interest in promoting e-motorcycles and e-scooters."
The e-motorcycle/e-scooter market in China is in the midst of some turmoil, according to the report. The Chinese government has cracked down on lead-acid battery producers in recent years, limiting supply in some cases. New regulations are putting pressure on unlicensed manufacturers, which has led to some consolidation. New motor power and size rules for e-bicycles proposed for 2013 would mean that some e-scooters now sold as e-bicycles would need to be licensed. Given that China accounts for some 98 percent of the global market, these developments could have a significant impact on the sector as a whole.
The report, "Electric Motorcycles and Scooters", provides a comprehensive examination of the market drivers and barriers, technology issues, governmental incentives and regulations, and key drivers of growth in the e-motorcycles and e-scooters industry. The report includes e-motorcycle and e-scooter sales forecasts through 2018, as well as detailed profiles of key industry players. The report also provides forecasts for lithium ion and lead-acid battery technologies used in e-scooters and e-motorcycles. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Electric Motorcycles and Scooters," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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