55 Million Electric Motorcycles and Scooters Will be Sold Worldwide from 2014 to 2023, Forecasts Navigant Research
Harley Davidson’s entry will spur sales as growth accelerates in North America and Europe, report concludes
BOULDER, Colo.--(BUSINESS WIRE)--Driven by rising gasoline prices and increasingly congested city streets, more consumers are starting to turn to two-wheel vehicles, including electric motorcycles (e-motorcycles) and electric scooters (e-scooters). Although this market remains heavily concentrated in China, which accounts for 98 percent of worldwide sales, growth is expected to occur across many regions, particularly after 2015. Click to tweet: According to a recent report from Navigant Research, cumulative worldwide sales of e-motorcycles and e-scooters will total 55 million from 2014 to 2023.
“Although high component costs and sluggish demand currently hamper the sales of electric two-wheel vehicles today, this market is poised for growth as consumer markets continue to expand and new high-profile competitors such as Harley Davidson enter the market”
“Although high component costs and sluggish demand currently hamper the sales of electric two-wheel vehicles today, this market is poised for growth as consumer markets continue to expand and new high-profile competitors such as Harley Davidson enter the market,” says John Gartner, research director with Navigant Research. “In many areas, the use of e-motorcycles and e-scooters is permitted on roads and on paths designated for bicycles and scooters, broadening their appeal for younger motorists.”
Prices for electric two-wheel vehicles remain higher than for their internal combustion engine counterparts, which has limited their appeal. Despite these challenges, manufacturers of these vehicles are finding strategies for success, according to the report – including targeting the fleet market, which has proven to be a successful niche for e-motorcycles and e-scooters in both law enforcement and small cargo delivery. Going forward, the shifting nature of personal mobility is also expected to contribute to the increased interest in utilizing scooters and motorcycles for transportation.
The report, “Electric Motorcycles and Scooters”, examines the global markets for high-powered and low-powered e-motorcycles, e-scooters, and related battery technologies. The report provides an analysis of the market drivers and barriers and key technology issues related to e-motorcycles and e-scooters,, as well as the impact of government influence. Global forecasts for the vehicles, and the batteries used in them, segmented by region, technology, and internal combustion engine motor size equivalent, extend through 2023. The report also examines the market for gasoline motorcycles and scooters, battery market issues, the effect of electric vehicle charging equipment, and the major industry players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Electric Motorcycles and Scooters,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.