IDTechEx: $33 billion market for small electric vehicles
By Business Wire News
By Business Wire News
Small manned electric vehicles – e-bikes to car-like micro EVs – often sell in the largest numbers. Although they are usually lower in cost than regular cars, they will reach over $33 billion in 2026 according to IDTechEx analysis in the new report “Micro EVs, e-Bikes, e-Scooters, e-Motorbikes, Mobility for Disabled 2016-2026” (www.IDTechEx.com/microEV).
As outlined in the report they are uniquely significant in addressing megatrends. Mobility vehicles for the disabled cope with the ageing of the population and the epidemic of obesity, whereas car-like micro EVs help emerging nations as the missing affordable transition product between e-bike and e-car. They fill market gaps everywhere.
Micro EVs are not required to meet crash tests and other requirements of car homologation. Embracing quad bikes, all-terrain vehicles, Neighborhood Electric Vehicles (NEV), quadricycles in Europe and so on, they are much simpler than cars and often one tenth of the price. Micro EVs include farmers’ “cars” in China, e-tuktuks in the Phillippines where 3.2 million polluting tuktuk taxis need replacing, and e-rickshaws in India.
In “Micro EVs, e-Bikes, e-Scooters, e-Motorbikes, Mobility for Disabled 2016-2026” IDTechEx looks at all manned small vehicles. In 2026, e-scooters will dominate this small vehicle business followed by three-wheel micro EVs. Close behind, four wheel car-like versions and e-bikes are also set for robust sales.
The report forecasts the increasingly significant small EV market in eight very different segments from newly important e-motorbikes to the static golf car business and sectors that are large and growing strongly. Conference materials and presentations from across the world are included.
The basis of this unique report, putting the much vaunted e-bikes in the context of allied vehicles, is mainly research in 2015, through intensive global travel, interviews and analysis by PhD level experts, providing an in-depth and up-to-date view.
Learn more at www.IDTechEx.com/microEV.