Electric Motorcycle Market Size, Share, Growth Analysis, By Motorcycle Type, By Motor Type, By Horsepower, By Battery Type, By Charging Power, By End Use, By Region - Industry Forecast 2024-2031
Global Electric Motorcycle MARKET size was valued at USD 30.11 billion in 2022 and is poised to grow from USD 35.83 billion in 2023 to USD 144.09 billion by 2031, growing at a CAGR of 19.0% during the forecast period (2024-2031).
Amid escalating concerns regarding greenhouse gas emissions, the electric motorcycle sector is experiencing substantial growth, bolstered by government initiatives across regions like Asia Pacific, North America, and Europe, which offer tax incentives and purchasing subsidies. Advances in battery technology and the integration of electric motorcycles into logistics and mobility services present further market opportunities, especially in food delivery and e-commerce. Despite challenges like inadequate charging infrastructure and high vehicle costs, the commercial sector shows promising potential, illustrated by partnerships between food delivery platforms and electric mobility startups, such as the collaboration between iFood and Voltz Motor in Brazil. As electric vehicle adoption rises, particularly driven by growing disposable incomes in densely populated countries, key players are launching innovative models featuring improved battery capacities and connectivity to enhance market appeal.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Electric Motorcycle market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Electric Motorcycle Market Segmental Analysis
Global Electric Motorcycle Market is segmented by motorcycle type, motor type, horsepower, battery type, charging power, end use and region. Based on motorcycle, the market is segmented into street, sport and off-road. Based on motor type, the market is segmented into hub motor and mid-drive motor. Based on horsepower, the market is segmented into below 25 kw, 25 kw to 50 kw, 51 kw to 75 kw, 76 kw to 100 kw and above 100 kw. Based on battery type, the market is segmented into lithium-ion, lead acid and others. Based on charging power, the market is segmented into below 10 kw, 10 kw to 20 kw and above 20 kw. Based on end use, the market is segmented into personal and commercial. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Electric Motorcycle Market
A key factor propelling the global electric motorcycle market is the heightened awareness and concern surrounding environmental sustainability. As public understanding of the detrimental effects of greenhouse gas emissions and air pollution intensifies, there is a growing demand for cleaner transportation alternatives. Electric motorcycles emerge as an eco-friendly substitute to conventional gasoline-powered vehicles, producing little to no emissions. This environmental focus among consumers, combined with favorable government initiatives and incentives, significantly accelerates the adoption and expansion of electric motorcycles on a global scale, contributing to a more sustainable transportation future.
Restraints in the Global Electric Motorcycle Market
A significant challenge in the global electric motorcycle market is the inadequate charging infrastructure. The presence of accessible and numerous charging stations is vital for encouraging the adoption of electric motorcycles. When such infrastructure is lacking, potential buyers often experience range anxiety, fearing that their battery may deplete while on the road. This uncertainty regarding battery life can significantly diminish the practicality and appeal of electric motorcycles, ultimately hindering market growth. To foster wider acceptance of electric motorcycles, it is crucial to enhance and expand the existing charging network, addressing this barrier effectively and promoting confidence among consumers.
Market Trends of the Global Electric Motorcycle Market
A prominent trend in the global electric motorcycle market is the rapid adoption of advanced technology features aimed at enhancing user experience and performance. Manufacturers are increasingly integrating elements such as connected vehicle technology, Bluetooth connectivity, sophisticated displays, and smart battery management systems into their models. These innovations not only offer real-time data monitoring but also promote greater efficiency and performance, catering to the consumer demand for smart mobility solutions. As riders seek a more integrated and technologically advanced experience, this trend positions electric motorcycles as a forward-thinking choice in an evolving transportation landscape, driving market growth and consumer engagement.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Driver & Opportunities
Restraints & Challenges
Porters Analysis & Impact
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Regulatory Landscape
Patent Analysis
Case Studies
Customer & Buying Criteria Analysis
Global Electric Motorcycle Market Size by Motorcycle Type & CAGR (2024-2031)
Market Overview
Street
Sport
Off-road
Global Electric Motorcycle Market Size by Motor Type & CAGR (2024-2031)
Market Overview
Hub Motor
Mid-Drive Motor
Global Electric Motorcycle Market Size by Horsepower & CAGR (2024-2031)
Market Overview
Below 25 kW
25 kW to 50 kW
51 kW to 75 kW
76 kW to 100 kW
Above 100 kW
Global Electric Motorcycle Market Size by Battery Type & CAGR (2024-2031)
Market Overview
Lithium-ion
Lead Acid
Others
Global Electric Motorcycle Market Size by Charging Power & CAGR (2024-2031)
Market Overview
Below 10 kW
10 kW to 20 kW
Above 20 kW
Global Electric Motorcycle Market Size by End Use & CAGR (2024-2031)
Market Overview
Personal
Commercial
Global Electric Motorcycle Market Size & CAGR (2024-2031)
North America (Motorcycle Type, Motor Type, Horsepower, Battery Type, Charging Power, End Use)
US
Canada
Europe (Motorcycle Type, Motor Type, Horsepower, Battery Type, Charging Power, End Use)
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific (Motorcycle Type, Motor Type, Horsepower, Battery Type, Charging Power, End Use)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America (Motorcycle Type, Motor Type, Horsepower, Battery Type, Charging Power, End Use)
Brazil
Rest of Latin America
Middle East & Africa (Motorcycle Type, Motor Type, Horsepower, Battery Type, Charging Power, End Use)