Two-wheel vehicles including scooters, motorcycles, and bicycles are a very popular mode of transport in China, India, and most Association of Southeast Asian Nations countries, due to their fuel efficiency and ease of use in congested traffic. The growth of the overall market for these vehicles within Asia Pacific is also leading to strong expansion of the electric two-wheel vehicle industry in the region, with adoption being driven by rapid urbanization and increasing household incomes. According to a new report from Pike Research, annual sales of electric two-wheel vehicles will reach 65.5 million units in the Asia Pacific region by 2018, resulting in a cumulative total of almost 382 million sales from 2012 to 2018.
Close to 92% of these vehicles will be sold in China, where annual sales will reach 60.2 million in 2018.
“Growing economic prosperity is creating a greater number of middle and high income level consumers, which in turn is contributing to the growth of the electric two-wheel vehicle market in the region,” says senior analyst Andy Bae. “In addition, the total cost of ownership of e-motorcycles and e-scooters remains low enough that consumers can see payback on the vehicle with a year or two of purchase.That means the market for electric two-wheel vehicles is likely to remain strong in regions with high economic growth rates.”
In Asia Pacific, two main technologies are used in the e-motorcycle and e-scooter markets: lead-acid and lithium ion (Li-ion) batteries.Lead-acid batteries will continue to be the primary technology used in the Asia Pacific electric two-wheel vehicle markets, particularly China, while Li-ion batteries will account for a smaller (but growing) share of the technology used in e-scooters and e-motorcycles.
Pike Research’s report,“Electric Two-Wheel Vehicles in Asia Pacific”, provides an in-depth assessment of current market dynamics and the future growth potential for electric bicycles, scooters, and motorcycles in the Asia Pacific region, along with profiles of the key industry players who are defining these rapidly-evolving markets. The study examines the market forces that are driving adoption of electric two-wheel vehicles in key countries, including demographic trends, consumer behavior, and government initiatives. The report also analyzes the technology issues surrounding this sector such as the changing mix of battery chemistries and key trends in battery management systems and electric motors.
Source : Business Wire