While the electrification of the automobile has captured attention over the past few years, according to a new report conducted by Pike Research, a higher volume market opportunity lies with a different kind of EV – the electric two-wheel vehicle.
Pike is predicting that more than 466 million e-bikes, e-motorcycles, and e-scooters will be sold worldwide from 2010 to 2016.
“Demographics and economics are aligning to create a strong market opportunity for two-wheel electric vehicles,” says industry analyst Dave Hurst. “In some countries, these vehicles will be engines of economic growth, while in others they will be signals of broader consumer behavioral shifts.”
Hurst adds that Asia Pacific in general, and China in particular, will dominate the global electric two-wheel vehicle market, representing more than 95% of sales during the next six years. He expects that e-bikes will the largest category with 56% of the market, followed by e-motorcycles at 43% and e-scooters in a distant third place with less than 1%.
Demographics and economics are aligning to create a strong market opportunity for two-wheel electric vehicles.
–Pike Research industry analyst Dave Hurst
According to Pike Research’s analysis, one of the most important market barriers is the lack of established distribution channels for the vehicles. Many manufacturers are working diligently to find a combination of independent dealers, mass retailers, and online sales that will effectively deliver the vehicles and after-sales service to customers.
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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.
Pike Research is a market research and consulting firm that analyzes global clean technology markets.
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