Global Electric Trike Market 2016-2020
About Electric Trikes
The traditional two-wheeled motorcycle dominates the market because such machines are tested and proven mechanisms delivering mileage performance. Another type of vehicle is the trike, the three-wheeled motorcycle, which is known for its increased stability and safety of the rider. These motorcycles are equipped with advanced features to increase the driving pleasure and for better control, feel, and style. This type of motorcycle was introduced during the last decade. The motorcycle trikes and scooter trikes remain in their nascent stages. However, these trikes are expected to gain traction during the forecast period.
Technavio’s analysts forecast the global electric trikes market to grow at a CAGR of 13.22% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric trikes market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of electric trikes.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Trikes Market 2016-2020
Technavio recognizes the following companies as the key players in the global electric trikes market: Piaggio, Toyota Motor Corporation, BMW, and Yamaha Motor Company
Other Prominent Vendors in the market are: Aprilia Magnet, Arcimoto, Electra Meccanica, Elio Motors, Sway Motorsports, Torq, and Valene Motors
Commenting on the report, an analyst from Technavio’s team said: “The development of high-performance trikes allowed the traveling enthusiasts to experience both motorcycle and car riding. Additionally, low powered trikes like Piaggio gave a comfortable ride to daily commuters. However, the cornering of these vehicles remained a challenge for the vendors as motorcycles lean during the cornering and that cannot be experienced by trike, and this led to the development of tilting trikes.”
According to the report, since electric trikes are powered and driven by battery-powered systems, the improvement in the battery technology is one of the most important factors for the global electric trike market. There have been several improvements in the technology of battery electric vehicles, making them more desirable to the consumer. For example, the advancement of Li-ion batteries has made them comparatively lightweight with a long lifespan compared with conventional lead-acid and VRLA batteries.
Further, the report states that purely electric motorcycles, which include the electric trike draw the energy for motion from the onboard Li-ion batteries. To keep the electric motorcycle running, the batteries require to be recharged frequently. The batteries installed in high-performance electric trike have a high-power rating, ranging from 12kWh to 50kW. Due to this, the growing number of electric motorcycles on the road create a challenge for the market if the supporting infrastructure is not maintained.
Piaggio, Toyota Motor Corporation, BMW, Yamaha Motor Company, Aprilia Magnet, Arcimoto, Electra Meccanica, Elio Motors, Sway Motorsports, Torq, Valene Motors