Electric Scooters in Asia Pacific Will Increase Nearly Tenfold from 2012 to 2018, Forecasts Pike Res
Electric Scooters in Asia Pacific Will Increase Nearly Tenfold from 2012 to 2018, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- The difference between electric scooters and electric motorcycles is that the former have a top speed of between 20 and 50 kilometers per hour (kph), while e-motorcycles can reach speeds greater than 50 kph. While the latter have a healthy and growing customer base in the Asia Pacific region, consumers tend to consider e-motorcycles a luxury, rather than an essential mode of transportation, and their market in Asia Pacific is expected to be small compared with e-scooters. According to a new report from Pike Research, a part of Navigant's Energy Practice, the market for electric scooters is expected to expand from around 12 million vehicles in 2012 to a cumulative total of more than 103 million vehicles on Asia's roads by 2018.
The majority of those will be in China, which will have almost 91 million e-scooters by 2018, according to the report.
"Electric scooters meet the mobility requirements of a growing number of urban, middle class consumers in Asia Pacific," says senior research analyst Andy Bae. "Increasing population density, rising urbanization, increases in income levels, and government policies are all fueling the demand for lightweight, highly mobile electric two-wheel vehicles."
Overall sales of electric two-wheel vehicles (e-scooters, e-motorcycles, and e-bicycles) will reach more than 65 million units annually across Asia Pacific in 2018, with 60 million of these in China, the report concludes. On a cumulative basis, sales in China will reach more than 355 million units by 2018 - 93 percent of the total in Asia Pacific. With its surging economy, widely available electricity, and growing middle class, India in particular is expected to be a bright spot for e-scooters in the coming years, the study finds.
The report, "Electric Two-Wheel Vehicles in Asia Pacific", provides an in-depth assessment of current market dynamics and the future growth potential for electric bicycles, scooters, and motorcycles in the Asia Pacific region, along with profiles of the key industry players who are defining these rapidly-evolving markets. The study examines the market forces that are driving adoption of electric two-wheel vehicles in key countries, including demographic trends, consumer behavior, and government initiatives. The report also analyzes the technology issues surrounding this sector such as the changing mix of battery chemistries and key trends in battery management systems and electric motors. Detailed vehicle sales forecasts are provided for each vehicle category through 2018, segmented by country. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of 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 Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) 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 Two-Wheel Vehicles in Asia Pacific," is a summary and reflects Pike 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 Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
KEYWORDS: United States Asia Pacific North America China Colorado Illinois