The global market for electric motorcycles and scooters is expected to surge, with the number of vehicles projected to jump from 17 million in 2011 to more than 138 million by 2017, according to a new report. The two-wheel electric vehicles, which are already popular across Asia, will become increasingly common elsewhere as the rising cost of petroleum-based fuels and government incentives will drive market growth, according to the report by Pike Research. “They are relatively low cost to own, do not take a lot of space, and are easy to maintain, therefore making them attractive for city dwellers,” said Dave Hurst, a senior analyst for the Colorado-based clean-technology research firm. While the market for electric scooters will be six times greater than electric motorcycles in most markets, e-motorcycles are expected to be the more popular choice in some parts of the world, including North America, because of their higher speed and greater range. According to the analysis, the growth of electric vehicles will spur an increased demand for batteries, with the market for lithium ion batteries for e-motorcycles expected to grow at a compound annual rate of 24 percent from 2011 to 2017, and the market for lithium ion batteries for e-scooters predicted to increase at 19 percent.
Global Market for E-Scooters and E-Motorcycles to Surge, Report Says
More From E360
-
INTERVIEW
At 11,500 Feet, a ‘Climate Fast’ to Save the Melting Himalaya
-
Oceans
Octopuses Are Highly Intelligent. Should They Be Farmed for Food?
-
Climate
Nations Are Undercounting Emissions, Putting UN Goals at Risk
-
Solutions
As Carbon Air Capture Ramps Up, Major Hurdles Remain
-
ANALYSIS
How China Became the World’s Leader on Renewable Energy
-
Biodiversity
As Flooding Increases on the Mississippi, Forests Are Drowning
-
Climate
In Mongolia, a Killer Winter Is Ravaging Herds and a Way of Life
-
Energy
In Rush for Lithium, Miners Turn to the Oil Fields of Arkansas
-
Food & Agriculture
How a Solar Revolution in Farming Is Depleting World’s Groundwater
-
INTERVIEW
What Will It Take to Save Our Cities from a Scorching Future?
-
Climate
Rain Comes to the Arctic, With a Cascade of Troubling Changes
-
Health
Plastics Reckoning: PVC Is Ubiquitous, But Maybe Not for Long