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The Electric Motorcycle Market size is projected to reach USD 166.43 billion by 2027 and will grow at a CAGR of 24.05% from 2022 and 2027. The growth of the market depends on several factors, including the increase in demand for these motorcycles, the declining prices of Li-ion batteries, and technological advances in high-performance motorcycles.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increase in demand is notably driving the market growth, although factors such as the high cost may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in demand for e-motorcycles is notably driving the e-motorcycles market growth. In recent years, the demand for these motorcycles and other motorcycles has increased rapidly. People are becoming more and more aware of the environment and the impact of their actions on it. This realization has led them to switch to eco-friendly alternative vehicles. A big reason why electric bikes are chosen is the low running cost. Unlike petrol cars, electric bikes don't need fuel, which can be expensive in the long run. Instead, it is powered by a rechargeable battery that can be recharged with power from a wall outlet. As a result, the operating costs are significantly lower than those of petrol bikes.
Another factor contributing to the increased demand for e-bikes is government incentives and subsidies. Many governments around the world offer incentives for individuals to purchase these motorcycles to encourage clean energy adoption. In India, for example, the government introduced a program to encourage people to switch to these through incentives and subsidies, making more affordable for the average citizen. The environmental benefits of e-bikes are also contributing significantly to the increased demand. In addition, e-bikes do not require oil or other petroleum-based lubricants, so they do not cause oil spills that pose a serious hazard to the environment. All these factors are driving the growth of the global electric bike market during the forecast period.
The use of Internet of Things (IoT) and smart infrastructure in electric motorcycle charging stations for load management is the key trend shaping the market. IoT and intelligent infrastructure play a key role in modern charging stations for e-bikes. IoT allows real-time monitoring and collection of data from each charging station. Collected data can be analyzed to identify load patterns, peak and off-peak hours, and other trends. This information helps make optimal use of our charging station infrastructure and reduce overloads and power outages. Intelligent infrastructure with IoT sensors can be used to communicate when stations are full or low on capacity. It is designed to help e-bike owners plan when to charge their vehicles and avoid unnecessary trips to gas stations. Sensors can notify users of the availability of charging slots, saving them valuable time waiting in line.
IoT will help establish remote control of charging stations and ensure access to power only when needed. This allows for dynamic load management and prevents infrastructure overload. In addition, the intelligent infrastructure allows charging speeds to be adjusted and reduced in times of high demand. This feature helps protect your motorcycle battery from overheating damage. Also, intelligent infrastructure with IoT can help ensure charging station security and create an integrated security system that can recognize people based on their faces or other biometric details. Many such factors are expected to drive the growth of the global market during the forecast period.
The high cost of electric motorcycles may impede the growth of the market. These are being touted as the future of personal mobility as they have the potential to reduce pollution and our dependence on fossil fuels. However, one of the biggest challenges with these vehicles is their high cost, which limits their access for most people. For example, these bikes are expensive. For example, the Harley Davidson LiveWire, manufactured by Harley-Davidson Inc. (Harley-Davidson), costs USD 29,799, while its gas-powered counterpart, the Harley Davidson Iron 883, costs USD 9,699.
Additionally, some consumers are concerned about maintenance costs, as e-bikes require special skills and equipment. These batteries consist of lithium-ion batteries, which are expensive to manufacture. Additionally, the complex electronics and software required to control the battery and motor system also add to the cost of manufacturing an e-bike. Such factors are expected to hamper the growth of the focus market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The market share growth by the sealed lead acid segment will be significant during the forecast period. Sealed lead-acid (SLA) batteries are commonly used. Sealed lead-acid batteries are housed in a hard plastic case that prevents acid battery leakage and gives the motorcycle a high level of maneuverability without the risk of battery leakage.
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The sealed lead acid segment was valued at USD 11.00 billion in 2017 and continued to grow until 2021. Compared to lithium-ion batteries, SLA is a cheaper battery format, making it an affordable option for motorcycle manufacturers. SLA also provides a higher potential, allowing e-bikes to reach higher speeds with less current. The demand for lithium-ion batteries is growing rapidly and is expected to restrain the SLA growth during the forecast period.
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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC region is emerging as a major player in the global market. Rapid population growth and increasing urbanization have significantly increased the demand for two-wheeled transportation in the region. In addition, government efforts to promote electric vehicles and reduce air pollution have further accelerated the adoption of electric motorcycles.
Countries such as China, India, and Japan are driving the growth of the market in the region. China has the largest market share due to its large population and government support for these vehicles. In 2022, China's sales will reach more than 1.28 million units. Meanwhile, India is making strides toward electrification with an ambitious target of 100% sales by 2030. The Indian government has also introduced initiatives such as the FAME program to facilitate the adoption. Similarly, Japan is also a major player in the market in the Asia-Pacific region, led by long-established manufacturers such as Yamaha Motor Co., Ltd. and Honda Motor Co., Ltd. In addition to the big players, other countries in the region are also catching up with the regional e-motorcycle market.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bayerische Motoren Werke AG: The company offers BMW Motorrad Definition CE 04.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market is experiencing significant growth driven by the need for energy-efficient commuting options and concerns about carbon emissions from traditional ICE-based two-wheelers. With rising fossil fuel prices and depleting reserves, there is a growing interest in electric motorcycles from consumers and governments alike.
The market is witnessing a surge in electric motorcycle startups aiming to capitalize on the expanding market. However, challenges remain, such as developing robust charging station ecosystems and reducing battery costs. Key considerations for consumers include battery capacity, safety, weight, and running cost. Manufacturers are focusing on improving energy density and aerodynamic characteristics to enhance performance and range. Technological advancements like smartphone connectivity, telematics services, and GPS information are enhancing the user experience, offering features like charging indicators, low-battery alerts, and remote lock/unlock. This market is particularly appealing to millennials and middle to low-income demographics seeking environmentally friendly, low-cost, and lightweight transportation solutions.
Electric Motorcycle Market Scope |
|
Report Coverage |
Details |
Page number |
147 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24.05% |
Market growth 2023-2027 |
USD 109.78 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
23.5 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 34% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Askoll EVA S.p.A., Bayerische Motoren Werke AG, Dongguan Tailing Electric Vehicle Co. Ltd., Evoke Electric Motorcycles HK Ltd, Hangzhou Qiulong Technology Co. Ltd., Harley Davidson Inc., Horwinglobal, Ideanomics Inc., Lightning Motors Corp, One Electric, OX RIDERS ELECTRIC SL, Pierer Industrie AG, RattanIndia Enterprises Ltd., TORROT ELECTRIC EUROPA S.A., Vmoto Ltd., Volkswagen AG, Zapp Electric Vehicles Ltd., Zero Motorcycles Inc., VERGE Motorcycles OU, and Z Electric Vehicle Corp. |
Market dynamics |
Parent market analysis, Market Forecasting, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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