LONDON--(BUSINESS WIRE)--As fuel costs rise, the global light electric vehicle market is experiencing rapid growth, according to a new report available on companiesandmarkets.com. E-bikes are the largest segment, forecast to achieve unit sales in excess of 130 million units by 2025.
Light Electric Vehicles 2011-2021
The largest LEV segment is e-bikes, which come in several forms and are controlled by a throttle. Examples include traditional domestic bikes, motor scooters, mini motor scooters, tricycles, mopeds, motorcycles and segways. Scooters account for a large proportion of ‘power on demand’ e-bikes, and are particularly common in Asian countries, where almost all LEV components are easily obtained courtesy of an extensive supply chain.
E-bike companies currently dominate the LEV market, but vehicle and motorcycle manufacturers are widely tipped to erode market share in the future. Also over the course of the reporting period, it is expected that more and more LEVs will incorporate advanced power technologies such as supercapacitors and lithium-ion batteries. It is also expected that there will be some crossover between LEVs and mobility equipment, as well as increased interest in heavier electric motorbikes.
Dominated by China, the rapidly growing light electric vehicle market is one of the largest industries in the world by unit shipments. Strong demand for LEVs, particularly electric bikes or e-bikes, has been noted in Japan and the European Union, and interest from the rest of the world has been rising over the last few years.
The 210 page, August 2011 publication studies the global light electric vehicles market for the period 2010-2021, providing in-depth analysis of the market by value and units shipped, the participants, their products/techniques and the opportunities available. The markets are split by geography, covering China, Japan, India, Europe, USA and the Rest of the World.