Based on growing demand for and use trends in electric motorcycles and scooters, two-wheel electric vehicles could be one of the world’s most widely used vehicles years from now.
At present there are 17 million electric motorcycles and scooters on the road according to market analyst Pike Research. But electric versions of the two vehicle categories could number 138 million by 2017 globally, with an annual growth rate of 9 percent.
Pike Research’s senior analyst Dave Hurst attributes two-wheeled electric vehicles’ appeal in the market to their affordability and convenience of use.
“Electric 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,” Mr. Hurst said.
Mr. Hurst said support from governments will play a role in bolstering the mass utilization of the two electric vehicle types.
“Governments also like these vehicles because they can utilize existing transportation and electricity infrastructure without the congestion problems and emissions impacts of conventional automobiles,” he said.
The Asian market’s potential contribution to two-wheeled electrics’ growing numbers is recognized especially for the Chinese region.
The Chinese government has been supporting the adoption of “e-bikes” and “e-scooters” on its roadways, implementing traffic guidelines and bike lanes, and working on developing the technology in the past decade.
Between electric scooters and electric motorcycles, the scooter business is projected to grow six times larger than the motorcycle trade in the global market, Mr. Hurst said.
But he expects the situation to be different in the United States as electric motorcycle sales comprise a larger 59 percent share in the market due to its better speed and range.
Meanwhile, as two-wheeled electrics speed up, the small batteries industry could hitch a ride to meet vehicle demand growth.
The vehicles will use both lithium ion and lead acid batteries. Pike Research forecasts that the market for lithium-ion for electric motorcycles will expand at a compound annual growth rate of 24 percent between 2011 and 2017, while lithium ion for the electric scooters market will increase at a CAGR of 19 percent.
Over recent years, companies like Zero Motorcycles, a startup, and X-Treme Scooters have come out with their two-wheel electric offerings that feature fast-charging technology and high mileage per charge.
Last month, Zero Motorcycles gained $26 million in additional financing for ramping up production in the United States and expanding sales globally.
