Today's News by Jack Nerad for Driving Today

Two-wheeled Electrics Will be Big Business

Tuesday, February 23, 2010

The electric car might have to move over for the electric bike. 

While the electrification of the automobile has captured media attention over the past few years, a significantly higher-volume market opportunity lies with a different kind of EV:  the electric two-wheeler.

According to a new report from Pike Research, unit sales in this category -- which includes electric bicycles, motorcycles and scooters -- will grow at a rapid pace over the next several years. The clean tech market intelligence firm forecasts that more than 466 million electric bikes, motorcycles and 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,” said 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 added that Asia Pacific, in general, and China, in particular, will dominate the global electric two-wheel vehicle market, representing more than 95 percent of sales during the next six years. He expects that electric bikes will be the largest category (with 56 percent of the market), followed by electric motorcycles (at 43 percent) and electric scooters in a distant third place (with less than 1 percent).

According to the 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.

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 Web site.

Driving News Archive>>