Has the Electric Motorcycle Gotten A Foothold in the Market?
The rest of the world, and particularly those in Asian countries, have embraced two-wheeled transportation, and it remains to be seen if consumers in North America and Europe will follow suit.
High fuel costs, customer perception, and government incentives are all contributing to a growing demand for electric motorcycles and scooters. In areas where the population is increasingly moving to cities and large vehicles are impractical and expensive to own and park, practicality is the driving force for the e-motorcycle and e-scooter markets.
According to a report from Pike Research, sales of these vehicles will rise sharply in Europe and North America over the next six years.
Annual sales of e-motorcycles will essentially double each year through 2017, the cleantech intelligence firm says, with some countries, such as Italy and France, seeing compound annual growth rates (CAGRs) of greater than 120%. The nations of Eastern Europe will see even more explosive growth, with e-motorcycle sales increasing by 138% annually from 2011 through 2017. CAGRs for e-motorcycles in North America will surpass 71%.
“For now, sales numbers are low, but manufacturers of two-wheeled electric vehicles are finding specialty niches that will provide solid growth early on in the next decade,” says senior analyst Dave Hurst. “E-scooters, for example, are effective for small parcel deliveries, while police forces are gravitating toward e-motorcycles to save money on fuel.”
By far the largest market for e-motorcycles and e-scooters is China, where Pike Research forecasts that 2.3 million and 13.5 million vehicles, respectively, will be sold by 2017. This growth is driven by the huge existing market for two-wheeled vehicles and by the fact that many e-scooters are sold as bicycles, so they do not have to be registered. China, however, is a relatively mature market; the CAGR for e-motorcycle sales through 2017 will be under 2% and, for e-scooters, under 5%.
The total number of e-motorcycles and e-scooters on the road, worldwide, will increase from 17 million in 2011 to 138 million by 2017.
Pike Research’s study, “Electric Motorcycles and Scooters”, provides a comprehensive examination of the market forces, technology issues, government incentives and regulations, and key drivers of the growth of e-motorcycles and e-scooters.
The report includes e-motorcycle and e-scooter sales forecasts and battery technology forecasts through 2017, as well as profiles of key industry 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 provides in-depth analysis of global clean technology markets and you can see what they’re up to here at www.pikeresearch.com.
Tips for buying your motorcycle insurance, coverage you need:
- Collision to pay for damage caused to your vehicle in an accident with another vehicle or any stationary object.
- Comprehensive to cover such things as fire, hail, wind, vandalism, hitting an animal, etc.
- Towing / Pickup
- Medical payment or personal injury protection to cover the medical bills resulting from an accident.
- Uninsured or underinsured motorist to protect us when the other driver is at-fault and does not have coverage or assets out of which your bills can be paid.