There is no holding back the tide, and this particular tide is powered by electricity.
In a study just released by Pike Research, it is estimated that by 2017 the number of electric two-wheelers on the road will be around 138 million. That's up from 17 million today. The study, "Electric Motorcycles and Scooters," calls for the compound annual growth rate (CAGR) of electrics in North America to surpass 71 percent.
According to the report, "High petroleum costs, improved customer perception, and government incentives are all contributing to a growing demand for motorcycles and scooters – including those powered by electricity. Particularly in areas where the population is increasingly moving into cities, where large vehicles are often impractical and expensive to own, operate, and park, density has become a driving force for the e-motorcycle and e-scooter markets."
In Western Europe the CAGR is anticipated to be as high as 120 percent in Italy and France, while in Eastern Europe the rate should be closer to 138 percent. In China, on the other hand, the CAGR for e-motorcycles is only expected to be 2 percent and the CAGR for e-scooters under 5 percent. That is because China is actually a "mature" market, with many electrics already on the road. In North America the numbers under discussion are in the tens of thousands; in China they are in the millions.
The market for e-scooters is expected to be considerably larger than the market for e-motorcycles just because the scooters are cheaper and more financially accessible for people in less affluent countries. Nevertheless, the report says, "In other regions, improving consumer perception, government incentives, and fuel costs all contribute in some part to the demand growth for e-scooters and e-motorcycles."
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