World Electric Trike Market: 13.22% CAGR to 2020

ReportsnReports.com adds Global Electric Trike Market 2016-2020 latest research report; the analysts forecast global electric trike market to grow at a CAGR of 13.22% during the period 2016-2020.

December 22, 2016 /MarketersMedia/ —

The global electric trike market analyst says the development of high-performance trike allowed the traveling enthusiasts to experience both motorcycle and car riding. Additionally, low powered trike 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 trike.

Complete report on electric trike market spread across 71 pages, analyzing 4 major companies and providing 46 data exhibits are now available at http://www.reportsnreports.com/reports/788366-global-electric-trike-market-2016-2020.html

According to the electric trike market report, since electric trike 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.

The following companies are the key players in the global electric trike 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. Order a copy of Global Electric Trike Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=788366

The global electric trike market was valued at almost 4 million units in 2015 and is expected to reach around 22 million units by 2020. In terms of geographical analysis, Europe is expected to be the dominant shareholder in the global market with estimated revenue of around 10,000 units by 2020. France and Germany will emerge as the key revenue-generators.

The US has 32% of its total population in the baby boomer segment and people above 50 control 77% of the total net worth in that nation, creating tremendous potential for OEMs in the trike market to push their products. The US government gives a Federal tax credit of 10% of the purchase price in all 50 states with a maximum cap of USD 2,500. Furthermore, these incentives are also dependent on the price of the electric trike, which varies as per battery size.

Global Electric Trike Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the present scenario and the growth prospects of the global electric trike market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of electric trike.

Increasing traffic congestion across the globe is propelling the demand for electric trikes. Rising traffic congestion means rising stop-and-go traffic, causing discomfort to motorcycle that are old. This is because the frequent stops cause stress to their knees and with aging, the knee problem increases frequently.

Further, the electric trike market report states that purely electric motorcycles, which include the electric trike, draw the energy for motion from the on-board 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 creates a challenge for the market if the supporting infrastructure is not maintained.

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