(Via Greencarcongress- A new report from Pike Research anticipates that the global market for electric two-wheeled vehicles—e-bikes, e-scooters, and e-motorcycles—will grow at a compound annual rate of 9% through 2016.
China is currently the largest marketplace for electric two-wheel vehicles, commanding 98% of the global market in 2009. China’s compound annual growth rate (CAGR) of 8.2% between 2009 and 2016 will contribute to Asia-Pacific’s sales of 78.6 million electric two-wheel vehicles in 2016 (with a CAGR of 8.9% for the region overall), according to the report, “Electric Two-Wheel Vehicles Electric Bicycles, Mopeds, Scooters, and Motorcycles: Market Analysis and Forecasts”.
Outside Asia, Pike Research forecasts Western Europe as having the largest market for electric two-wheel vehicles with 1.941 million vehicles for a CAGR of 17.3% between 2009 and 2016. In the e-bike market, the Western European region will garner a disproportionate share of revenue ($2.4 billion in 2016), relative to unit sales. Western Europe will account for 3.4% of the global e-bike marketplace by 2016, generating 12% of the revenue from the global market
A similar, albeit smaller scale, market dynamic will exist in North America by 2016, when North America’s share of global sales will be 1.9%, which will represent 5.6% of the global revenue ($1.2 billion in e-bike revenue in 2016).
The classification of electric two-wheelers varies substantially across the globe, Pike notes. Most countries define e-bikes as pedalled vehicles that can be human-powered and have limited speed capabilities. China, however, does not require e-bikes to have pedals, but limits them to 20 km/h (12 mph).