Electric Motorcycles Demand to Grow, Market Forecast Says

World Motorcycles, a new industry study, has just been released, presenting market forecasts for 2013 and 2018 by motorcycle type, worldwide regional market as well as for 21 national markets. According to this study, electric motorcycles will register the strongest market growth of any major product type.

The high demand will be driven by the lower purchase prices, low cost of operation and lack of harmful emissions. However, electrical systems affiliated with internal combustion engine (ICE) motorcycles will still have two thirds of the overall sales, as they are more powerful than most currently electric motorcycles.

According to the study, other market forecasts show that global demand for motorcycles will grow 7.6 percent per year through 2013 to 114 million units, thanks to the fact motorcycles are seen as a more affordable alternative to walking, bicycling or using mass transit.

Some offsetting support will be provided by the introduction of new models equipped with sophisticated emissions control systems and increased sales of machines with more features, boosting motorcycle demand.

As for the fastest growing markets, the strongest growth through 2013 will be registered by the Africa/ Mideast region. Population increases and higher standards of living will also help stimulate motorcycle sales in the Asia/Pacific region, which will post the second strongest gains, followed by Eastern Europe (rising from a very small current market base) and Latin America.

China alone will account for 55 percent of all additional product demand through 2013, solidifying its position as the biggest national market by far for motorcycles. Growth is also expected to be healthy in lower volume markets such as Nigeria, the Philippines, Vietnam and Indonesia.