Electric motorcycles are versatile vehicles with various applications. They serve as efficient and eco-friendly alternatives for urban commuting, reducing air pollution and noise. Key features of electric motorcycles market include electric motors, rechargeable batteries, and regenerative braking systems. Electric motorcycles are used for daily commuting, recreational riding, and even for racing in electric motorcycle competitions. They offer cost savings on fuel and maintenance, contributing to a sustainable transportation ecosystem. With advancements in battery technology, electric motorcycles continue to gain popularity as viable and practical options for modern mobility.
According to Data Bridge Market Research, the Global Electric Motorcycles Market accounted for USD 31.5 billion by 2021 and is expected to reach USD 57.44 billion by 2029. The market is expected to grow with a CAGR of 7.80% in the forecast period of 2022 to 2029.
“Growth in investment for research and development (R&D) boosts the market’s growth”
The growth in investment for research and development (R&D) is a key driver of the electric motorcycle market. Increased R&D spending by manufacturers leads to technological advancements, improved battery efficiency, and enhanced performance of electric motorcycles. These innovations result in longer ranges, faster charging times, and overall better riding experiences, making electric motorcycles more appealing to consumers. As the industry continues to invest in R&D, the electric motorcycle market is expected to witness significant growth in the coming years.
What restraints the growth of the global electric motorcycles market?
“High cost associated with electric motorcycles systems restraints the market’s growth”
The high cost associated with electric motorcycle systems acts as a restraint on the market's growth. Electric motorcycles equipment, such as C-arms, MRI, and CT scanner, can be expensive to purchase, install, and maintain. This cost burden may deter healthcare facilities with budget constraints from investing in these advanced technologies. Additionally, the high cost of procedures using electric motorcycle systems can limit patient accessibility.
Segmentation: Global Electric Motorcycles Market
The global electric motorcycles market is segmented on the basis of vehicle range, battery type, voltage, and application.
- On the basis of vehicle range, the electric motorcycles market has been segmented into below 75 miles, 75–100 miles, and above 100 miles.
- On the basis of battery type, the electric motorcycles market has been segmented into Li-ion, lead acid, and nickel metal hydride.
- 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.
- On the basis of application, the electric motorcycles market has been segmented into racing, daily commute, off-road use, and others.
Regional Insights: Asia-Pacific is expected to dominate the Global Electric Motorcycles Market
The Asia-Pacific region is expected to hold the largest market share due to various factors, including increasing awareness about the benefits of electric vehicle, rising personal disposable income, a surge in demand for affordable electric scooters for short-distance commuting, and growing adoption of smart technologies in the transportation sector.
North America is projected to score a good growth rate due to the growing government initiatives aimed at raising awareness about eco-friendly products among individuals. These initiatives include incentives, subsidies, and awareness campaigns, encouraging more people to adopt electric scooters as a sustainable and environmentally friendly mode of transportation.
- In May 2020, CAKE 0 Emission AB and Polestar joined forces to facilitate the production and distribution of new electric motorcycle models. The partnership allows CAKE to utilize Polestar's retail outlets across Europe for the marketing and sales of their electric motorcycles.
- In 2020, BattRE Electric Mobility introduced an IoT-enabled e-scooter with a range of advanced features. These include navigation assistance, ride statistics, remote diagnostics, anti-theft alarm, speedometer call alerts, and personalized ride behavior suggestions. With this innovative offering, BattRE aims to provide users with a technologically advanced and convenient electric mobility solution, enhancing the overall riding experience and promoting sustainable transportation options.
- In June 2021, Lance Powersports Inc., a manufacturer of electric two-wheelers, introduced its newest lineup in the Philippines market.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-electric-motorcycles-market
The Prominent Key Players Operating in the Global Electric Motorcycles Market Include:
- 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. (U.S.)
- Razor USA LLC (U.S.)
- Torkmotors (India)
- Revolt Motors (India)
- LITO MOTORCYCLES (France)
- TACITA SRL (Italy)
- Bell Custom Cycles (U.S.)
- Harley-Davidson Inc. (U.S.)
- Alta Motors (U.S.)
- Energica Motor Company S.p.A., (Italy)
Above are the key players covered in the report, to know about more and exhaustive list of global electric motorcycles market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Electric Motorcycles Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.