Light
Electric Vehicle Market - Global Industry Analysis, Size, Share, Growth, Trends
And Forecast, 2013 - 2019
Light weight electric vehicle are
usually two or three wheelers, weighing less than 100 kilograms and energy
storage device such as fuel cell or battery. They also use light weight metals
for their construction. Earlier, weight of electric vehicles increased
considerably by usage of traditional heavy batteries. This makes light weight
electric vehicle an inevitable option. Light weight electric balances weight
and improve the endurance of batteries for automobiles.
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Electric vehicle provide smooth
operations, stronger acceleration and require less maintenance. Light weight
electric vehicles have gathered renewed interest due to concerns about future
availability and price of fossil fuels, increasing green house gas emissions
and air pollution. Electric vehicles are represented as zero-emission vehicles,
thus help to prevent environmental pollution.
Some of the key driving factors of
this market are increased environmental concerns, performance benefits, and
reduced energy dependence. Most important advantage of light electric vehicle
is that rechargeable batteries recycle well, thereby eliminating the disposal
problem. Thus, light weight electric vehicle market is expected to compete with
petroleum powered vehicles over the forecast period. However, fully discharged
vehicle would require a long time to get charged completely, so it will be out
of service for a long time. This limitation is expected to hinder the growth of
light electric vehicle market.
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Rapid industrialization and
increasing fuel price concerns in developing economies of Asia Pacific are
expected to drive the light weight electric vehicle market over the forecast
period. Mature markets of U.S. and Europe continue to be key markets for light
electric vehicle industry.
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