Sales of Electric Motorcycles and Scooters Are Expected to Reach Nearly 6 Million a Year by 2024, According to Navigant Research
By Business Wire News
By Business Wire News
A new report from Navigant Research examines the global markets for electric motorcycles and scooters and the related battery technologies, including global forecasts for electric two-wheeled vehicles and the batteries used in the vehicles through 2024.
As cities become increasingly congested with traffic, many urban dwellers are turning to various forms of electric two-wheeled transport. The market for electric motorcycles and scooters is expected to achieve stable and continuous growth during the coming years, as several large manufacturers enter the market and decreasing battery costs make products more affordable. Click to tweet: According to a new report from Navigant Research, worldwide sales of electric motorcycles and scooters are expected to grow from 5.3 million annually in 2015 to nearly 6 million by 2024.
“Although purchase prices remain relatively high and the availability of vehicles is limited in some regions, e-motorcycles and e-scooters offer an affordable, efficient mode of personal transport for motorists, particularly in booming cities of the developing world,” says Ryan Citron, research analyst with Navigant Research. “Even as growth slows in China, the largest electric two-wheeled vehicle market in the world, manufacturers are moving to scooter and motorcycle markets in neighboring emerging economies.”
Some key market players are taking innovative steps to expand their reach, according to the report. E-scooter battery-swapping startup Gogoro, for example, is offering its customers a battery swapping network to offset the cost of buying a vehicle. Meanwhile, the acquisition of Brammo by Polaris Industries and the expected entrance into the market by Yamaha and Harley-Davidson in the coming years may signal accelerating growth in the high-powered e-motorcycle market in North America and Western Europe.
The report, “Electric Motorcycles and Scooters,” examines the global markets for high-powered and low-powered e-motorcycles, e-scooters, and the related battery technologies. It provides an analysis of the key market drivers, barriers, and technology issues related to e-PTWs, as well as the impact of incentives. Global forecasts for e-PTWs and the batteries used in the vehicles, segmented by region, technology, and internal combustion engine (ICE) motor size equivalent, extend through 2024. The report also examines the market for gasoline motorcycles and scooters, battery market issues, the effect of electric vehicle (EV) charging equipment, and 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 Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional 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 deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients’ needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at 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.