Global Electric Motorcycles Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Electric motorcycles are increasingly gaining importance due to rising environmental conservation issues and concerns. Electric motorcycles have a slow penetration rate in the developing economies, however, the pace of penetration is improving. American Honda Motor Co., Inc, GOVECS, Ampere Vehicles and Suzuki are the major players operating in this market.

• Data Bridge Market Research analyses that the electric motorcycles market value, which was USD 31.5 billion in 2021, is expected to reach the value of USD 57.44 billion by 2029, at a CAGR of 7.80% during the forecast period. "48–60 Volt" accounts for the largest voltage segment in the electric motorcycles market, owing to the growing penetration of electric two-wheelers, especially in developed economies. The electric motorcycles market report also covers pricing analysis, patent analysis, and technological advancements in depth.     

Market Definition

From the name itself, it is clear that electric motorcycles are the two wheelers that run on electric energy when converted into mechanical energy rather than running on fuel. Electric motorcycles are chargeable and eco-friendly automotive solutions. Also known as e-bikes, electric motorcycles are built with solid metal and fiber frames that are combined with mechanical and electronic components.

Global Electric Motorcycles Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• Growth in investment for research and development to carve way for innovations

The rising number of strategic market collaborations has led to the rise in funds to be allocated for the growth and development of advanced and automated technology/ machinery. Further, growth in the level of investment for research and development proficiencies would carve the way for innovations pertaining to electric motors.      

• Two wheelers to induce greater demand and supply in emerging nations  

Growing production rate of two wheelers such as motorcycles and scooters will further widen the scope of growth for the market. Though the penetration is extremely low at 0.8% in India, there is a great scope of growth in the future. Also increasing rate of traffic and traffic congestions problems is inducing growth in the demand for electric vehicles.

• Growth and expansion of automotive industry to present numerous opportunities

Owing to the global economic rise, there is a huge scope of growth for the automotive and transportation industry. There is an increased focus of the major manufacturers on the application of advanced technologies which will widen the scope of growth. Further, the Indian auto industry is expected to record strong growth post recovering from effects of COVID-19 pandemic.

Rising urbanization, modernization, and globalization drive market value growth. Surging environmental conservation concerns, growing technological advancements in the manufacturing technology and increasing personal disposable income are other market growth determinants. Furthermore, advancements in manufacturing technology extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, stringent regulations imposed on vehicular emissions will further expand the market's future growth. 

• High costs to limit the scope of growth in the long run

High costs associated with the initial investment will slow down the market growth rate in the long run. Also, high costs associated with research and development proficiencies will create hindrances for the market. High price of batteries is another cause of concern for the market.     

• Supply chain disruptions will pose a threat to the unprecedentedly growing market demand

With the rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply of battery materials. Also, fluctuations in the prices of raw materials coupled with shortage of availability of crude substance will prove to be a demerit for the market. Therefore, this will challenge the market growth rate.    

Also, dearth of awareness in underdeveloped regions and large scale availability of alternatives will act as growth restraints for the market. Lack of infrastructural solid facilities in the backward economies, lack of chargeable stations in the developing economies and design and performance standard concerns will also challenge the market growth rate.

This electric motorcycles market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electric motorcycles market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 Impact on Electric Motorcycles Market

The recent outbreak of coronavirus has proven to be a bane for the market. The pandemic has led to the suspension of manufacturing activities, resulting in the halt on production and sales of new vehicles. Pandemic resulted in disruptions in global supply chains, border restrictions, and travel restrictions by government bodies. Hero Electric and Okinawa had to shut their manufacturing plant in this phase of pandemic. The market growth rate saw a slowdown due to the stringent measures to curb the commercial activities. However, with the relaxations ahead, the future of the market seems to be promising.

Recent Developments

• In May 2020, CAKE 0 Emission AB partnered with Polestar that enabled CAKE enterprise to manufacture and distribute the new models of its electric motorcycles using Polestar’s retail outlets in the European region, making the electric motorcycle grow in that region.
• In 2020, BattRE Electric Mobility launched an IoT e-scooter with features such as navigation assist, ride statistics, remote diagnostics, anti-theft alarm, speedometer call alerts, and ride behavior suggestions.
• In June 2021, Lance Powersports Inc., an electric two-wheeler manufacturer, launched its latest lineup in the Philippines market.

Global Electric Motorcycles Market Scope

The electric motorcycles market is segmented on the basis of vehicle range, battery type, voltage and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Vehicle Range

• Below 75 Miles
• 75–100 Miles
• Above 100 Miles

On the basis of vehicle range, the electric motorcycles market has been segmented into below 75 miles, 75–100 miles, and above 100 miles.

Battery Type

• Li-ion
• Lead Acid
• Nickel Metal Hydride

On the basis of battery type, the electric motorcycles market has been segmented into Li-ion, lead acid, and nickel metal hydride.

Voltage

• Below 24 Volt
• 24–48 Volt
• 48–60 Volt
• Above 60 Volt

On the basis of voltage, the electric motorcycles market has been segmented into below 24 volt, 24–48 volt, 48–60 volt, and above 60 volt.

Application

• Racing
• Daily Commute
• Off-road Use
• Others

On the basis of application, the electric motorcycles market has been segmented into racing, daily commute, off-road use, and others.

Electric Motorcycles Market Regional Analysis/Insights

The electric motorcycles market is analysed and market size insights and trends are provided by country, vehicle range, battery type, voltage and application as referenced above.

The countries covered in the electric motorcycles market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

The Asia-Pacific region is expected to hold the largest market share due to the growing awareness about the benefits of electric vehicles, rising personal disposable income, growing demand for affordable electric scooters for short-distance commuting, and increasing adoption of smart technologies.

North America is projected to score a good growth rate due to growing government initiatives to raise awareness of such products among individuals.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Electric Motorcycles Market Share Analysis

The electric motorcycles market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electric motorcycles market.

Some of the major players operating in the electric motorcycles market are Yadea Group Holdings Ltd.(China), Jiangsu Xinri E-Vehicle Co., Ltd. (China), NIU International (China), Silence Urban Ecomobility (Spain), Hero Electric (India), Blacksmith Electric (India), Electric Motion (France), Johammer e-mobility GmbH (Germany), Husqvarna Motorcycles GmbH (Austria), Essence Motorcycles (France), Zero Motorcycles Inc. (US), Razor USA LLC. (US), Torkmotors (India), Revolt Motors (India), LITO MOTORCYCLES (France), TACITA SRL (Italy), Bell Custom Cycles (US), Harley-Davidson Inc. (US), Alta Motors (US) and Energica Motor Company S.p.A., (Italy) among others.

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