Market Analysis
The electric motorcycles market is predicted to grow at a 10.35% CAGR between 2018- 2025, states the recent Market Research Future (MRFR) analysis. An electric motorcycle, simply put, is a motorcycle that runs on electricity and works through a motor. This vehicle has been specially designed for higher speeds and has high-speed handling characteristics & enhanced acceleration. Electric motorcycles are ideal for highway speeds & beyond or slow urban commutes.
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Various factors are propelling the global e-motorcycles market share. According to the recent MRFR report, such factors include the entry of several top original equipment manufacturers, falling battery prices, low maintenance, and operational costs, depleting oil reserves worldwide, initiatives by the government to adopt green vehicles, and growing investments in car charging infrastructure. Additional factors adding market growth include growing interest from large scale manufacturers, incorporation of low noise levels, regenerative braking, high mechanical efficiency, and comparatively economical maintenance costs, growing adoption of eco-friendly cars.
On the contrary, high vehicle cost, lack of charging infrastructure, limited accessibility of electric motorcycles, limited battery capacity, performance constraints, and lack of awareness are factors that may limit the global electric motorcycles market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global electric motorcycles market based on voltage, battery type, and vehicle range.
By vehicle range, the global electric motorcycles market is segmented into above 100 miles, 75-100 miles, and below 75 miles. Of these, the above 100 miles vehicle range segment will lead the market over the forecast period. Growing demand for electric motorcycles of high range in sports and leisure activities are adding to the growth of the segment.
By battery type, the global electric motorcycles market is segmented into nickel metal hydride, lead acid, and li-on. Of these, the li-on battery type segment will dominate the market over the forecast period. Higher density and decreasing cost of these batteries are adding to the growth of the segment.
By voltage, the global electric motorcycles market is segmented into above 60 volts, 48-60 volt, 24-48 volt, and below 24 volts.
Regional Analysis
Based on the region, the global electric motorcycles market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast. Increasing population, increase in traffic congestion, falling prices than conventional cars, rising environmental concerns, and a growing number of lately launched electric motorcycles are adding to the global electric motorcycles market growth in the region.
The global electric motorcycles market in North America is predicted to have healthy growth over the forecast period. Increasing consumer disposable income, high spending capability, early adoption of smart mobility solutions that is technologically advanced, and the emergence of new players are adding to the global electric motorcycles market growth in the region.
The global electric motorcycles market in Europe is predicted to have sound growth over the forecast period. The increasing adoption of electric motorcycles, strong support by the government, higher commuter base, and growing availability of smart charging stations are adding to the global electric motorcycles market growth in the region.
The global electric motorcycles market in the Rest of the World is predicted to have steady growth over the forecast period.
Key Players
Key players profiled in the global electric motorcycles market report include Essence Motorcycles (France), Razor USA LLC. (US), LITO MOTORCYCLES (France), Electric Motion (France), Husqvarna Motorcycles GmbH (Austria), Blacksmith Electric (India), Torkmotors (India), TACITA SRL (Italy), Alta Motors (US), Johammer e-mobility GmbH (Germany), Bell Custom Cycles (BCC) (US), Energica Motor Company S.p.A.(Italy), Revolt Motors (India), and Zero Motorcycles Inc. (US).
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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