Electric Motorcycles Market Size To Hit USD 58.37 Billion at a CAGR of 12% by 2027 - Report by Market Research Future (MRFR)
Increasing interests in manufacturing in infrastructure involving vehicle charging
New York, US, Dec. 01, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Electric Motorcycles Market Research Report: Information by Region, Vehicle Range, Battery Type, and Voltage- Forecast till 2030, the market is projected to mark the volume of USD 58.37 Billion by the end of 2027. The reports further expect the market to flourish at a strong CAGR of roughly 12% during the evaluation era.
Electric Motorcycles Market Overview:
Electric motorcycles refer to two-wheeled motorcycles generating their power from a motor by utilizing electricity in the form of transportation fuel. The developments such as reduced motor weight, better acceleration, compact size, high-speed handling efficiency, etc., have made these motorcycles manage higher speeds in all areas. The benefits of utilizing these electric motorcycles are that they tolerate strong winds against the course. They also have more excellent cargo storage available, which offers them an edge over electric mopeds, electric bikes, electric bicycles, and electric scooters. Governments of several nations across the globe are concentrating more on the adaption of green vehicles to restrict the spread of air pollution furthermore. The launch of EV charging infrastructure and the building of battery management systems has expanded the electric motorcycles market size by a more excellent value. Interior Permanent Magnet (IPM) motors boost electric motorcycle performance by enhancing power and efficiency.
Electric Motorcycles Market Competitive Analysis
The directory of prominent participants across the global Electric Motorcycles Market comprises of companies such as:
- CAKE 0 Emission AB
- Blacksmith Electric (India)
- Amper Vehicles
- Electric Motion (France)
- Z Electric Vehicle
- Johammer e-mobility GmbH (Germany)
- Husqvarna Motorcycles GmbH (Austria)
- Shandong Incalcu Electric Vehicle Co. Ltd.
- Suzuki Motors Corporation
- Zero Motorcycles Inc. (US)
- Lightning Motorcycles
- Razor USA LLC. (US)
- Torkmotors (India)
- Honda Motors
- Revolt Motors (India)
- Mahindra GenZe
- LITO MOTORCYCLES (France)
- Hero Eco
- TACITA SRL (Italy)
- Energica Motor Company S.p.A. (Italy)
- Bell Custom Cycles (BCC) (US)
- Alta Motors (US)
- Harley-Davidson Inc. (US)
- Essence Motorcycles (France)
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Electric Motorcycles Market Report Scope:
|Electric Motorcycles Market Revenue forecast in 2027||USD 58.37 Billion|
|Growth Rate||CAGR of 12% from 2021 to 2027|
|Key Market Opportunities||Developing commercial sectors globally|
|Key Market Drivers||Increasing interests in manufacturing in infrastructure involving vehicle charging|
Browse In-depth Market Research Report (180 Pages) on Electric Motorcycles Market:
Electric Motorcycles Market USP Covered
The global Electric Motorcycles Market has documented huge development in recent times, credited to the aspects such as increasing interest in manufacturing in infrastructure, a fall in the costs of battery manufacturing, high mechanical efficiency, and a rising number of government initiatives.
Electric Motorcycles Market Restraints
On the contrary, the scarcity of charging infrastructure may limit the market's development.
The global health hazard in the shape of the COVID-19 pandemic has had a massive impact on the mainstream of the industry segments across the globe. The worldwide economy has been put off seeing the spread of a global pandemic in almost 225 countries. In order to curtail the spread of the disease, several governments across the globe announced partial or complete lockdowns. Given the travel constraints and social distancing norms imposed, the supply chain networks of the majority of the market areas faced significant disruption. Just like all the other market sectors, the global market for electric motorcycles also witnessed some unexpected challenges. The market faced a significant decline in demand at the begging of the pandemic. The sales of these motorcycles dropped exponentially, leading to considerable shortfalls in revenues in recent times. The industries must lower the operational costs and avoid risks to optimize the profits to get through the downfall as per the present market situation. With the workforce of the automotive sector at home, factories had to close, which led to affecting the automotive sector to a dangerous pitfall because of the spread of the pandemic. With the deterioration in the vehicle's manufacturing, there is a setback in launching products and their distribution. Realizing the new lockdown rules, where industries have revived with limited staffing, the rebound of the automotive sector is anticipated. It might bow come to the failures of these motorcycles' manufacturing sector, therefore boosting the production and sales of the electric motorcycles market.
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Electric Motorcycles Market Segment Analysis
Among all types, the e-motorcycle segment is anticipated to enter the maximum growth across the global market for electric motorcycles over the evaluation timeframe. Previously, producers concentrated on building e-scooters/mopeds as they have an ideal design to integrate the electric propulsion system. On the other hand, e-scooters/mopeds have performance and range constraints; also, they cater to the local intent of short-distance commuting only. With e-motorcycles, the users may cater to various motives such as commuting, off-roading, racing, and cruising which would raise their demand in the future.
Among all the vehicle ranges, the 75-100 miles segment is anticipated to dominate the global market for electric motorcycles over the review timeframe.
Based on battery type, the li-ion segment is projected to lead the global market over the coming years.
Electric Motorcycles Market Regional Analysis
The global Electric Motorcycles Market is analyzed across five major regions: the Middle East & Africa, North America, Latin America, Asia-Pacific, and Europe.
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The research report by MRFR suggests that the Asia-Pacific region is anticipated to dominate the global market for electric motorcycles over the review timeframe. The growth of the regional market is ascribed to the factors like increasing air pollution, the growing number of government initiatives, rising environmental crisis, increasing population, increase in traffic congestion, and decreasing prices of automotive vehicles.
The electric motorcycles market for North America and the European region is anticipated to record substantial growth over the assessment timeframe. The market's growth is attributed to fast-charging stations and advancements in electric motorcycles.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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