Navigant Research: Electric Motorcycles & Scooter Sales To Outpace Electric Cars
Today, global sales of electric motorcycles are extremely low. Though we’ve been unable to obtain exact figures from the world’s largest electric motorcycle manufacturers, we do know that global annual sales of electric motorcycles number in the thousands, not even hitting tens of thousands.
On the other hand, sales of electric scooters are incredibly strong, especially in some Asian markets.
Scooters sales will continued to be the driving force behind Navigant’s predicted total of 55 million electric motorcycles and scooters sold worldwide (far more than predicted for electric cars) from 2015 to 2024. Here’s Navigant’s outlook:
Electric Motorcycle and Scooter Sales are Expected to Total 55 Million From 2015 to 2024
The transition from sealed lead-acid to lithium ion batteries is driving rapid industry advances, report finds
A recent 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.
Taken together, increasing interest from large manufacturers and decreasing battery costs offer an opportunity to drastically change the current market landscape for electric motorcycles and electric scooters. With well-known players such as Yamaha and Harley Davidson poised to expand offerings into this space, and low battery costs making products more affordable, sales of these vehicles are expected to experience stable and continuous growth in the coming decade. Click to tweet: According to a recent report from Navigant Research, sales of electric motorcycles and scooters are expected to total 55 million from 2015 to 2024.
“The acquisition of Brammo by Polaris Industries may have kick-started the entrance of large market players into the electric motorcycle market, and other companies are now gearing up to participate,” says Ryan Citron, research analyst with Navigant Research. “Meanwhile, in terms of battery costs, units that would have cost more than $1,000/kWh just a few years ago can now be had for about one-third of the price, and the cost of lithium ion (Li-ion) batteries is expected to continue to decline throughout the forecast period.”
Increased use of Li-ion batteries, which offer vastly improved power densities and longer lifespans over sealed lead-acid (SLA) batteries, is expected to be a key technology trend as the market for electric motorcycles and scooters grows, according to the report. While SLA batteries are expected to account for 92.3 percent of electric scooter batteries and 89.8 percent of electric motorcycle batteries in 2015, those figures are expected to decline to 78.9 percent and 65.5 percent, respectively, by 2024.
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 electric powered two-wheel vehicles (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.