Small manned electric vehicles - e-bikes to car-like micro EVs - often sell in the largest numbers. Although they are usually lower in cost than regular cars, they will reach over $33 billion in 2026 according to IDTechEx
analysis. They are uniquely significant in addressing megatrends. Mobility vehicles for the disabled cope with the ageing of the population and the epidemic of obesity whereas car-like micro EVs help emerging nations as the missing affordable transition product between e-bike and e-car. They fill market gaps everywhere.
Micro EVs are not required to meet crash tests and other requirements of car homologation. Embracing quad bikes, all-terrain vehicles, Neighborhood Electric Vehicles (NEV
), quadricycles in Europe and so on, they are much simpler than cars and often one tenth of the price. Micro EVs take the form of three wheelers in the main with many four wheelers. They include farmers "cars" in China, e-tuktuks in the Phillippines where 3.2 million polluting tuktuk taxis need replacing, and e-rickshaws in India.
Dr Peter Harrop, Chairman of IDTechEx says, "A cheap electronic watch keeps better time than an expensive wind-up one. Equally ironic, an increasing number of low-cost micro EVs have unlimited range as long as the sun is out but big expensive electric cars often struggle with range. We forecast the increasingly significant small-EV market in eight very different segments from newly important e-motorbikes to the static golf car business and sectors that are large and growing strongly".