Electric Motorcycle Market Size, Share & Trends Analysis Report By Drive Type (Belt Drive, Chain Drive, Hub Motor), By End-use (Personal, Commercial), By Battery Type (Lithium-ion, lead acid), By Region And Segment Forecasts, 2023 - 2030

Report Overview

The globalelectric motorcycle market sizeis worthUSD 30.11 billion in 2022and is anticipated to grow at a compound annual growth rate (CAGR) of 19.0% from 2023 to 2030. The market is expected to grow due to the increasing demand for energy-efficient commuting options, rising concern for carbon emission by ICE-based two-wheelers, and increasing fossil fuel prices worldwide coupled with depleting reserves contributing to the market growth. Furthermore, the increasing interest of established two-wheeler market players entering the electric motorcycle space and the advent of electric motorcycle startups providing technologically advanced vehicles also supports the market growth.

The introduction of charging station ecosystems, declining battery costs, and the development of battery management technologies by major market players is contributing to the electric motorcycle industry growth. Additionally, the inclusion of telematics, cellular connectivity, and improvement in aerodynamic characteristics of vehicles, are creating new opportunity avenues for electric motorcycle industry development within the forecast period.

The market has gained significant traction over the years owing to the active advocacy from government authorities worldwide. In emerging economies such as India and Indonesia, governments are introducing incentives and schemes for purchasing and manufacturing electric motorcycles. For instance, on January 2023, the Indonesian government announced that by 2024, Indonesia would provide public funds amounting to USD 455.88 million (7 trillion rupiah) to subsidize the purchase of electric motorcycles. The government anticipates increasing the vehicle count by 2024. The shift towards electric vehicles will contribute to a decrease in the usage of fossil fuels and the development of EV production facilities to use the nation's abundant nickel sources, which are crucial for the production of batteries. Similarly, on June 2021, the Indian government increased the subsidy forelectric two-wheelersunder the second phase of the FAME India scheme by 50%, making them more affordable-a decision that will significantly benefit customers of electric motorcycles. According to the Ministry of Heavy Industries and Public Enterprises, under FAME India phase II, the subsidy for electric two-wheelers will now be USD 17.96 (Rs 15,000) per kWh.

The development of battery technology to address the concerns surrounding range and performance anxiety further contributes to market growth. The expansion of battery capacity and its safety is a crucial parameter governing the traction of the market. However, electric motorcycle batteries encounter issues such as catching fires, temperature vulnerability, battery weight, size, and running cost which hinder the market growth The OEMs have developed their batteries with improved power output to address these problems. For instance, in November 2021, Zero Motorcycles, Inc. introduced its new battery pack made of polycarbonate and die-cast aluminum. The lithium ion-based battery contains 56 cells, increasing the battery capacity and improving cell chemistry.

Thelithium-ion batteriesby Zero Motorcycles Inc. have undergone significant advancements. Zero Motorcycles Inc. has increased the energy density of its batteries by up to 20%. These upgraded power packs are available in two standard capacities of 15.6 and 14.4 kWh owing to major battery design and construction advancements. The pack size plus symbol denotes options for further capacity increases of up to 17.3 kWh. The SR/S and SR/F, premium street vehicles, are equipped with a larger 15.6+ kWh battery arrangement, while the ordinary SR/S and SR/F will have a 14.4+ kWh battery configuration. The increase in battery capacity owing to the upgrades coupled with the use of a power tank enables the battery to produce and store over 21 kWh of energy. The maximization of battery capacity prompts the rider to leverage an increased vehicle range of 227 miles (365 km) and an accelerated range of 113 miles (182 km) at 70 mph. and performance. Moreover, this development also created avenues for accelerating the adoption of electric motorcycles, thus supporting market growth.

The absence of charging infrastructure is one of the main obstacles to the electric motorcycle industry expansion. Unlike developed nations, most emerging nations lack the requisite charging infrastructure. Solutions for the infrastructure of charging are provided by manufacturers everywhere. For instance, ChargePoint (U.S.) develops and manufactures the hardware for the charging stations and the power management software for amobile applicationfor the charging network. Moreover, ChargePoint offers demand-based charging stations for every type ofelectric vehicle。类似的选择是provi收费选项ded by ONEX Commercial (Taiwan), including standard, quick, and battery swapping. For the market to flourish, customers need an extensive charging infrastructure network that allows them to go long distances without worrying about where the nearest charging station is.

Drive Type Insights

基于驱动类型市场划分的基础上belt, chain, and hub drive. Among all the segments, hub motor has accumulated the highest market share of over 48% of the global market in 2022 and is anticipated to register a CAGR of 18.5% from 2023-2030. Electric motorcycle hub motors have different advantages, such as easier installation, superior performance, and lower cost. Consequently, the hub motors is anticipated to become a favorable option for electric motorcycle manufacturers. Moreover, parameters including high torque, improving vehicle handling, increased power, and increased range have increased segmental growth. Hub motors are becoming more and more popular as a result of its benefits, including, high power efficiency, flexibility, lightweight, elasticity, and small sizes. It also helps to reduce maintenance costs while providing enhanced driving experience. Additionally, electric motorcycle hub motors require fewer components. As a result, it contributes to lowering mechanical component losses, which results in a vehicle that runs quietly.

End-Use Insights

Based on end-use type the market is bifurcated into personal and commercial segments. Among all the segments, the personal segment has the largest market share of about 70 % in 2022 due to its environmental friendliness, low cost, lightweight, low maintenance requirements, and ease of maneuverability. Electric motorcycles are revolutionizing the personal vehicle market. They are generally favored above their electric competitors. Electric motorcycles are popular among millennials as well as middle and low-income demographics. To create a proactive driving experience, many manufacturers are incorporating linked car technology in these scooters. Electric motorcycle usage will also increase due to manufacturers placing more emphasis on creating private charging stations or specific locations for charging cars.

商业市场是有预期fastest growth with a CAGR of 22.1% during the forecast period. Electric motorcycles are a practical and affordable last-mile delivery option for business applications. The electric motorcycle may be a viable solution for quick and effective mobility in factories, universities, warehouses, and industrial sites with enormous land areas. Many car rental companies are implementing electric motorcycles that may be used in combination or time-length packages for lengthy trips as the trend of shared mobility is taking off, causing the market to grow.

Battery Type Insights

Based on the battery type segment, the market is divided into lead acid battery lithium-ion battery, and others. Among all the segments, the lithium-ion based battery sub-segment is anticipated to continue growing at the largest market share rate of more than 90% and has the highest CAGR of 19.5%. The demand for battery-operated electric motorcycles is driven by more ecologically friendly batteries and a growing need for high-performance batteries like lithium ion based batteries. These batteries have many advantages, including high charge density, low weight, and good charging-discharging efficiency, which is supporting the demand for lithium-ion battery based electric motorcycle market growth. In 2022, the lead acid battery market contributed a consistent portion of total sales. The use oflead-acid batteries下降是由于考虑喜欢他们的劳吗r abuse tolerance, bulkier size, and quick discharge, even when not carrying a significant load.

Regional Insights

Asia Pacific region accumulated revenue of over 82% in 2022 and the fastest CAGR of 19.5% throughout the projection period, showcasing dominance in the market in the region. Improved economic conditions in nations like India, Thailand, Indonesia, and China are supporting market growth. Rapid urbanization, the rising affordability of electric motorcycles, and rising consumer awareness of clean energy mobility to reduce vehicle emissions are further factors driving regional market growth. Also, over the following years, research and development activities will continue to significantly improve the market.

Major Japanese players like Kawasaki Heavy Industries, Ltd., Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., and Suzuki Motor Corporation, are investing aggressively to develop electric motorcycles, battery pack technology, and charging infrastructure while announcing plans to introduce electric motorcycles. Other major companies such as Energica have also entered the Asia Pacific market space by shipping orders to countries such as Australia and Pakistan Thus, supporting the electric motorcycle industry growth.

Key Companies & Market Share Insights

Electric motorcycle manufacturers are increasing the number of products they offer by adopting strategies like rentals, partnerships with component suppliers, R&D spending, and product launches. For instance, with its debut model's release, the HOP OXO, HOP Electric, a producer of electric scooters, has entered the market for electric motorcycles. The motorbike is designed to be used for daily commuting. A 5.3kW motor in the HOP OXO generates 185Nm of peak torque. The OXO X model can go from 0 to 40 km per hour in just 3.5 seconds and reach a top speed of 95 km per hour thanks to its larger 6.3kW motor producing 200 Nm of torque. With the 3.75kWh battery pack, the bike can go 150 km and charge from 0 to 80% in less than four hours. There are four ride modes on the HOP OXO: eco, power, sport, and turbo. Some of the prominent players in the global electric motorcycle market include:

• Honda Motor Co., Ltd.

• Maeving

• Energica Motor Company S.p.A.

• Zero Motorcycles, Inc.

• CAKE

• SUR-RON USA

• Harley-Davidson, Inc.

• Electric Motion

• KTM Sportmotorcycle GmbH

• Fonz Moto Pty Limited
  

Electric Motorcycle Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 35.72 billion
Revenue forecast in 2030	USD 121.07 billion
Growth rate	CAGR of 19.0 % from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Revenue in USD million, volume thousand units and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Drive type, end-use, battery type, region
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope	U.S.; Canada; UK; Germany; France; Netherlands; Italy; Spain; Denmark; China; India; Japan; South Korea; Taiwan; Vietnam; Indonesia; Brazil; Mexico
Key companies profiled	Honda Motor Co., Ltd.; Maeving; Energica Motor Company S.p.A.; Zero Motorcycles, Inc.; CAKE; SUR-RON USA; Harley-Davidson, Inc.; Electric Motion; KTM Sportmotorcycle GmbH; Fonz Moto Pty Limited
Customization scope	Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Electric Motorcycle Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global electric motorcycle market report based on, drive type, end-use, battery type, and region:

• Drive Type Outlook (Revenue, USD Million; Volume Thousand Units, 2018 - 2030)

  • Belt Drive

  • Chain Drive

  • Hub Motor

• End-Use Outlook (Revenue, USD Million; Volume Thousand Units, 2018 - 2030)

  • Personal

  • Commercial

• Battery Type Outlook (Revenue, USD Million, Volume Thousand Units, 2018 - 2030)

  • Lithium-ion

  • Lead Acid

  • Others

• Regional Outlook (Revenue, USD Million; Volume Thousand Units, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Netherlands

    • Italy

    • Spain

    • Denmark

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Taiwan

    • Vietnam

    • Indonesia

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa