Electric Motorcycles Market Analysis

Electric Motorcycle Market Overview:

Electric Motorcycle Market Size was valued at USD 7.00 billion in 2021. The E-motorcycles market industry is projected to grow from USD 7.83 billion in 2022 to USD 17.21 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.90% during the forecast period (2024 - 2030). Increasing interests in manufacturing infrastructure involving vehicle charging and a decline in the costs of battery manufacturing are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

E-Motorcycles Market Trends

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  Increasing government initiatives toward electric mobility to boost the market growth

  
  

Due to growing awareness of the dangers associated with operating fossil fuel-powered vehicles, governments from many nations are decreasing their carbon footprints by promoting electric bikes, scooters, and bicycles. Additionally, governments are building bicycle-friendly roadways, which encourage people to use bicycles as their primary form of transportation. Many governments are paying close attention to electric bicycles, scooters, and motorcycles as dependable, effective types of light motor vehicles (LMVs) that contribute to lowering carbon emissions. For instance, the Indian government announced a plan in June 2019 to reduce the goods and service tax (GST) on electric vehicles from 12% to 5% to promote their adoption more quickly.

Fuel price increases over the past ten years have contributed to an increase in the use of electric bicycles for daily commuting. The Organization of the Petroleum Exporting (OPEC) countries, which have significant control over crude oil prices, are to blame for the rise in fuel prices. Furthermore, with future sources of crude oil becoming scarcer, prices are predicted to rise. Electric-powered bicycles enable riders to ride more comfortably on bumpy terrain and maintain higher speeds more effectively. As a result, it is anticipated that rising fuel prices will increase consumer preference for e-bikes and spur demand for an e-motorcycles.

The Electric two-wheelers is more affordable than a car, does not need a license, and can be used on the current road system. Governments from different nations are also concentrating on creating an infrastructure for an Electric two-wheelers. For instance, Pittsburgh unveiled a 10-year plan in June 2020 that calls for adding more than 120 miles of new trails, bicycle lanes, and other roadway upgrades to the city's bike infrastructure. Additionally, two solar parking lots in Tokyo were opened by Sanyo (Japan), where about 100 electric bikes could be recharged using solar energy. Therefore, it is projected that rising government initiatives for the construction of electric motorcycle infrastructure and the spread of smart cities around the world would present the electric motorcycle market with attractive growth prospects, enhancing the electric motorcycle market CAGR across the globe in recent years.

Companies are now concentrating on online sales platforms to improve their commercial presence due to the rise in dealerships. With the help of governments and automakers, the carbon emissions gap is dramatically closed by achieving zero emissions criteria. People are switching to Plug-in motorcyclesdue to the exponentially rising cost of fuel around the world, which will accelerate the expansion of the Electric Motorcycle Market, another factor driving the growth of the electric motorcycle market revenue.

E Motorcycles Market Segment Insights:

Electric Motorcycle Vehicle Range Insights

The Electric Motorcycle Market segmentation, based on vehicle range, includes below 75 miles, 75-100 miles, and above 100 miles. The above 100 miles segment held the majority share in 2021 of the Electric Motorcycle Market revenue. An Battery-powered bikes with more than 130 miles (210 km) has an extraordinarily long range. As a result, while electric vehicles perform admirably as daily commuters covering a fixed roundtrip route, passengers encounter disabling range anxiety when driving on open roads.

Electric Motorcycle Battery Type Insights

The E-motorcycles Market segmentation, based on battery type, includes li-ion, lead acid, and nickel metal hydride. The lead-acid segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period 2024-2030. Comparing lead-based batteries to other battery types, they are more economical. These batteries are also called maintenance-free because they are simple to maintain and recharge. Lead-based batteries are available in various forms, voltages, amperages, and dimensions. Since they typically do not allow for the addition or loss of liquid, these batteries are typically sealed, which positively impacts the market growth.

Electric Motorcycle Voltage Insights

The Electric Motorcycle Market data has been bifurcated by voltage into below 24 volts, 24-48 volts, 48-60 volts, and above 60 volts. The above 60 volts segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period 2022-2030. Electric motorcycle with a greater driving range and weight-bearing capability require batteries with voltages of more than 60V. This kind of battery is employed in vintage Zero-emission bikes since they need a large capacity and a lengthy travel range.

Figure 2: Electric Motorcycle Market by Voltage, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Electric Motorcycle Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific Electric Motorcycle market accounted for USD 3.05 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. Since the major companies in the region are extensively investing in electric vehicles by creating cutting-edge electric infrastructure to encourage the acceptance of such vehicles, it is anticipated that the market for an electric motorcycle in the Asia-Pacific region will experience considerable growth.

Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Electric Motorcycle Market Share By Region 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America electric motorcycle market accounts for the second-largest market share. Strict pollution restrictions and an increase in EV manufacturers drive the region's rise. The enhanced infrastructure for the electric motorcycle in nations like Canada and the USA is anticipated to fuel industry expansion. Further, the US electric motorcycle market held the largest market share, and the Canada electric motorcycle market was the fastest-growing market in the North America region.

The Europe Electric Motorcycle Market is expected to grow at the fastest CAGR from 2024 to 2030. The EU is working together to reduce rising air pollution levels and is supporting the production and sale of electric motorcycle by offering incentives, subsidies, and other programs. Throughout the forecast period, the government's ongoing efforts to reduce gas emissions are anticipated to increase demand for the electric motorcycle in Europe. Moreover, Germany electric motorcycle market held the largest market share, and the UK electric motorcycle market was the fastest-growing market in the European region.

Electric Motorcycle Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the electric motorcycle market grow even more. Market participants are also taking various strategic initiatives to grow their global footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the electric motorcycle industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the global electric motorcycle industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, the electric motorcycle industry has provided some of the most significant benefits. The electric motorcycle market major player such as Blacksmith Electric (India), Electric Motion (France), Johammer e-mobility GmbH (Germany), Husqvarna Motorcycles GmbH (Austria), and others are working on expanding the market demand by investing in research and development activities.

American motorcycle manufacturer Harley-Davidson, Inc. (abbreviated H-D or simply Harley) is based in Milwaukee, Wisconsin. It was established in 1903, and along with its illustrious rival, Indian Motorcycles, it is one of just two significant American motorcycle producers to have survived the Great Depression. In August 2021, Livewire One, the first item from the all-electric Live Wire brand, was introduced by Harley-Davidson, Inc. These electric bikes are designed for urban use but have the power and range to go further.

Also, Husqvarna Motorcycles GmbH, an Austrian company with Swedish roots that manufactures and distributes motocross, enduro, supermoto, and street motorcycles, is known by the brand name Husqvarna. In May 2021, Husqvarna Motorcycles introduced the electric motorcycle E-Pilen Concept to meet the needs of urban riders.

Key Companies in the E-motorcycles market include

• 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 (BCC) (US)


• Harley-Davidson Inc. (US)


• Alta Motors (US)


• Energica Motor Company S.p.A. (Italy)


• Hero Eco


• Mahindra GenZe


• Honda Motors, among others

Electric Motorcycle Industry Developments

July 2024: Announcing its gorgeous FS 450 for 2025, Husqvarna Mobility is thrilled. The incredibly talented short circuit racer, which has undergone numerous revisions for the new model year, is still the benchmark for pure supermoto performance. Along with updated frame and ergonomics, new WP XACT Closed Cartridge forks, radiator shrouds, and smaller footrests increase rideability and elevate the on-track experience to a whole new level. All serious competitors choose the FS 450 supermoto model. WP XACT Closed Cartridge front forks and a redesigned frame for 2025, when combined with competition-focused components, improve the agile machine's overall handling and balance, particularly when navigating corners.

May 2023: The industry leader in scooter and wheeled goods innovation, Razor USA, is pleased to present the Rambler 20, an adult-sized lithium-ion powered e-bike that allows riders to fully adjust the amount of pedal assist and electric power. Attractive, useful, and reasonably priced, this strong new car adds to Razor's wide range of adult-specific electric vehicles. A comfortable commute around town, across campus, or along the coast is provided by the Rambler 20, which has a retro-inspired mint and chocolate-colored frame, oversized balloon tires, and a padded bench seat.

Electric Motorbike Market Segmentation

Electric Motorbike Vehicle Range Outlook

• Below 75 Miles


• 75-100 Miles


• Above 100 Miles

Electric Motorbike Battery Type Outlook

• Li-ion


• Lead Acid


• Nickel Metal Hydride

Electric Motorbike Voltage Outlook

• Below 24 Volt


• 24-48 volt


• 48-60 volt


• Above 60 volt

Electric Motorbike Regional Outlook

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  Middle East
  
  


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  Africa
  
  


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  Latin America