The size of premium electric motorcycle market was registered at 180 million in the year 2018 and is anticipated to cross 7 billion by 2026. Between the period 2020-2026, the premium electric motorcycle industry is expected to register a CAGR of 60%.
Surging environmental concerns regarding an increase in carbon emission levels have fueled the need for environmentally friendly and fuel-efficient automobiles, thereby magnifying premium electric motorcycle market share. Electric motorcycle companies are even adopting the latest artificial intelligence (AI) technology to improve the rider’s experience.
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Additionally, fast charging facilities and improved battery management systems are some of the supporting features the industry players are working on. Prominent companies outlining the competitive dynamics of premium electric motorcycle market include Harley Davidson, Zero Motorcycles, Evoke Motorcycles, Energica Motor Company and Emflux motors, among several others.
Due to the burgeoning demand for electric two wheelers, manufacturers along with the government are aiming at increasing the number of charging stations worldwide. Lithium-ion (Li-ion) batteries have gained widespread popularity over the years.
They assist in enhancing the overall performance of the vehicles by providing better the range and mitigation of maintenance requirements. Leading market players are replacing the conventional lead-acid batteries with Li-ion batteries as it helps in boosting the horsepower and overall range of the motorcycles.
With an aim to encourage the adoption of electric vehicles across the globe to control levels of carbon footprint, governments are providing subsidies to potential buyers. Sports electric motorcycles are showcasing escalating demand over the years due to their higher speed and superior efficiency.
Industry manufacturers are offering electric sport motorcycles with a maximum speed capability of more than 200 km/h, with an acceleration speed of up to 0-100 km/h in less than 3.2 seconds. The rising number of racing events held across the globe aimed at encouraging the use of electric motorcycles primarily among the youth will bolster premium electric motorcycle market outlook.
Improved speed, enhanced aesthetics, maximum torque along with superior traveling range are some of the advantages rendered by premium electric motorcycles. Growing adoption of electric vehicles for urban use will bolster the 10-15 kWh segment over 2019-2026. Electric motorcycles consisting of lower battery capacities with reduced range offerings can be deployed for urban uses.
Companies are combining swappable batteries into low capacity motorcycles, allowing the riders to replace the batteries at any given time without any need for instant charging. Startups are exploring this opportunity to develop swappable battery technologies and establishing battery stations in emerging economies.
North America premium electric motorcycle market size will register notable gains owing to favorable initiatives undertaken by the government authorities to control the increasing levels of pollution across the region. The U.S. government is focusing on establishing an increased number of charging stations to boost the production of electric motorcycles in the country.
Adequate information and awareness regarding the ill-effects of increased carbon dioxide levels is steering the adoption of cleaner vehicle alternatives in the U.S. High disposable income among the people is a primary factor facilitating the shift towards electric motor vehicles among the citizens.
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Partial Chapter of the Table of Content
Chapter 4. Premium Electric Motorcycle Market, By Product (Revenue & Shipment)
4.1. Key trends by product
4.2.1. Market estimates and forecast, 2015 – 2026
4.3.1. Market estimates and forecast, 2015 – 2026
4.4.1. Market estimates and forecast, 2015 – 2026
Chapter 5. Premium Electric Motorcycle Market, By Battery Capacity (Revenue & Shipment)
5.1. Key trends by battery capacity
5.2. Below 10 kWh
5.2.1. Market estimates and forecast, 2015 – 2026
5.3. 10 – 15 kWh
5.3.1. Market estimates and forecast, 2015 – 2026
5.4. 15 – 20 kWh
5.4.1. Market estimates and forecast, 2015 – 2026
5.5. Above 21 kWh
5.5.1. Premium Electric Motorcycle Market estimates and forecast, 2015 – 2026
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