Forecasts by a research firm have revealed that the electric motorcycle industry is expected to achieve stable and continuous growth during the coming years. Battery costs will decrease in the next couple of years which makes the electric motorcycles and scooters more affordable. The market is led by China, where most of the world’s e-motorcycles and e-scooters are sold. According to Navigant Research, sales are set to reach around 5.3 million over the course of 2015.
Electric motorbike popularity continues to rise
The popularity of electric motorcycles and scooters is set to continue to rise, according to Navigant Research. According to the document, several large OEMs will enter the market in the coming years which will decrease battery costs, making these products more affordable. In the electric scooter market, battery-swapping startup Gogoro is offering its customers a battery swapping network to reduce the cost of buying a vehicle. Meanwhile, the acquisition of Brammo by Polaris Industries may have kick-started the entrance of large market players into the electric motorcycle market.
The e-PTW market is led by China, where most of the world’s e-motorcycles and e-scooters are sold. However, new emission policies and lower-than expected GDP will reduce demand int he Asian country. According to Navigant Research, global annual sales of e-motorcycles are expected to grow from 1.2 million vehicles in 2015 to 1.5 million in 2024, while sales of e-scooters are expected to grow from 4.1 million to over 4.4 million. Of course, the big question is how low gasoline prices affect the electric motorcycle market in them coming years.
The prices of battery packs will continue to decrease. See this one: Razor 12 Volt 7Ah Electric Scooter Replacement Batteries VICI Brand High Performance – Set of 2 Includes New Wiring Harness (replaces 6-DW-7)
Ryan Citron, research analyst with Navigant Research, said: “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.”
Source: Navigant Research
