The growth of the overall market for two-wheel vehicles including scooters, motorcycles, and bicycles within Asia Pacific is leading to a strong expansion of the electric two-wheel vehicle industry in the region, with adoption being driven by rapid urbanization and increasing household incomes, says a report by Pike Research.
According to the report, 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, says Pike Research (Boulder, Colo., U.S.A.).
“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, according to the report.