The Strategist

E-bikes To Gain Popularity by 2024, Says Navigant Research

03/21/2015 - 15:09

A research report published by Navigant Research shows electric two wheelers are setting a new trend; as more and more customers are going for them as a solution to avoid the increasing traffic jams.

The city of Boulder, Colorado- 19 March 2015- Navigant Research releases a report wherein the subject matter deals with an examination conducted on the global market of scooters and motorcycles that run on electricity along with their battery related technologies. The said report forecasts an extrapolated future trend of two-wheelers that are electrically operated and the related storage technology of such vehicles in the form of batteries, which are likely to affect the global market by 2024.
According to Business Wire, the ever increasing congested city traffic is becoming an apt reason for the urban population to turn to electrically operated transport system which though comes in various forms. However, the electric two-wheelers are gaining popularity. Likewise, the said market is expected to go through a steady and incessant growth curve in the near future. In fact, more and more large manufacturing companies are investing into this market sector and are aiming to reduce the cost of batteries to make them affordable to a larger number of people. As per a comparative Navigant Research report, global market of electric scooters and motorcycles generate annual revenue of 5.3 million whereas it is likely to jump up to 6 million by the year of 2024.
In the research analyst of Navigant Research, Ryan Citron’s words:
“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. Even as growth slows in China, the largest electric two-wheeled vehicle market in the world, manufacturers are moving to scooter and motorcycle markets in neighboring emerging economies.”
Market report also highlights that the some of the key market figures are taking the initiative effort to walk on an innovative route by expanding their scope of research in the field of e-technologies.  Some companies like Polaris Industries, Harley-Davidson and Yamaha are to invest in the high-powered electric bikes which will hasten the growth of e-vehicle market in the regions of West Europe and N. America while others like Gogoro are offering a network that will enable battery swapping mechanism in order to bring down the cost of purchase.
An analysis provided by the same report on “Electric Motorcycles and Scooters”, enumerates main market trend setters, along with all the possible difficulties that they may face in order to implement the technology of e-vehicles into the market in full swing. Moreover, it puts forth the relative issues dealing with incentive impact, market forecasts, the role of batteries in such technology, and the relative size for an internal combustion engine.
The report also features a comparative market study of motorcycles that runs in gasoline and its equivalent battery issues, as oppose to the e-bikes that incorporates charging apparatus.
Business Wire also writes:
“Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors.”