55 Million Electric motorcycles and scooters will be sold worldwide from 2014 to 2023, forecasts Navigant Research.
The electric motorcycles (e-motorcycles) and electric scooters (e-scooters) market in China accounts for 98 percent of worldwide sales.
It is expected that the growth will occur across many regions, particularly after 2015.
The major driving factors for the e-vehicle growth are expansion of consumer markets and entry of new competitors into the market.
Going forward, the shifting nature of personal mobility is contributing towards the increased interest in utilizing scooters and motorcycles for transportation.
In many places, e-motorcycles and e-scooters are allowed on roads designated for other two-wheelers, extending their appeal for young drivers, says John Gartner, research director, Navigant Research.
In addition, e- vehicle manufacturers are developing success strategies including targeting the fleet market, which has been a proven place for e-motorcycles and e-scooters in both law enforcement and small cargo delivery.
The key challenges experienced are high component costs and sluggish demand that hamper the sales of electric two-wheel vehicles.
Besides, prices for e-vehicles remain higher than normal two-wheelers, which have limited their appeal.