Electric Cycle, Scooter Sales Hits 18.7M By 2018
BOULDER, Colo.-- 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.
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