The global market for electric two-wheel vehicles is set to grow at a compound annual rate of nine per cent through to 2016.
That’s the analysis of a new report from Pike Research assessing the global market for e-bikes, e-scooters and e-motorcycles. Currently, China is the largest marketplace for electric two-wheel vehicles with 98 per cent of the global market in 2009 and its predicted growth of 8.2 per cent to 2016 will contribute to sales of 78.6million electric two-wheel vehicles in Asia Pacific by 2016.
The report, entitled Electric Two-Wheel Vehicles, Electric Bicycles, Mopeds, Scooters and Motorcycles: Market Analysis and Forecasts outlines that outside Asia, Western Europe has the largest market with 1.941million vehicles for a compound annual growth rate of 17.3 per cent from 2009 to 2016. It is expected that Western Europe will account for 3.4 per cent of the global marketplace by 2016 but will generate 12 per cent of the revenue.
A similar scale will apply in North America. It is expected to account for 1.9 per cent of the global sales of electric two-wheelers by 2016 but will represent 5.6 per cent of the global revenue.
According to Pike Research, the classification of electric two-wheelers varies substantially across the globe with most countries defining e-bikes as pedalled vehicles that can be human powered and have limited speed capabilities – but in China there is no requirement for pedals but there is a speed limit of 12mph.
One of the issues holding back the expansion of electric two-wheelers currently is that there is no established distribution channel for the vehicles and many manufacturers are striving to find a combination of dealers, mass retailers and online sales that will deliver the vehicles and after-sales service to customers.
